Exit Coach Radio

Kathy Fettke, CEO and Founder of, "Real Wealth Network.” Real Wealth Network Receives the 2015 Elite Business of the Year Award! Kathy Fettke, CEO and Founder of Real Wealth Network based in Walnut Creek, CA, an organization dedicated to helping members get the most current and cutting edge education and information they need to succeed as real estate investors.  Kathy is a licensed Realtor, former mortgage broker, and an active real estate investor  She was selected as one of America's "100 Most Intriguing Entrepreneurs" by Goldman Sachs at the 1st annual and now 2nd Annual Builders and Innovator's Summit.

Kathy Fettke is an active real estate investor, licensed Realtor, certified coach, and former mortgage broker.  She specializes in helping people build multi-million dollar real estate portfolios through through creative finance and planning.  With a passion for researching and sharing the most important facts on real estate and economics,  

Kathy received her BA in Broadcast Communications from San Francisco State University and worked in the newsrooms of CNN, FOX, CTV and ABC-7.  She's past-president of American Women in Radio & Television. 

Kathy became a certified personal coach through the Coaches Training Institute in San Rafael, California.  In 2001, she took the coaching process to television and produced a cable show called "DREAM" which followed the process of 6 people going after their dreams over 90 days. Kathy noticed a theme on her Dream coaching show: most people didn't have time for their dreams when they are spending all their time at work to make money to pay the bills.  Her show sponsor was a real estate expert and the segments they produced changed her life. After interviewing dozens of real estate millionaires, Kathy discovered their best strategies for creating passive income streams.  She and her husband bought numerous investment properties and since then learned the highs and lows of investing that can only come from hands-on experience.  

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Dan Whittaker shares a few thoughts on the concept of "de-risking" your business.

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Transcript: 

Bill: There are many ways to grow your business, and one of the most effective ways is to reduce the risk, or de-risk your business. Here’s Dan Whittaker.

Dan: De-risking is really, if you’re gonna go through a process to transition out of the business, what are the things that can jeopardize the sale, or jeopardize the value? Are there any lawsuits or pending litigation that can crash the business? Another one is customer concentrations. Is your business operating with one customer that represents 40, 50, 60% of your business and if you lost that customer, the value of your business is essentially wiped out? And, how do you go through to go ahead and solidify the customer or take of that? Is the business highly dependent on a couple of people? So is the CEO, the owners, are they so involved if they step out, then there’s nobody else there to run the business? From and outsiders buyer’s standpoint, they need to see that the business is gonna run on its own. 

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Reuben Franco,  the President of the Orange County Hispanic Chamber of Commerce, discusses the Youth Chamber of Commerce, a special program that helps young citizens to meet and ask questions of their Government leaders.

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Dyanne is the President/Founder of Exit Planning Strategies, LLC, a company that works with owners of privately held businesses to develop intentional ownership transition plans. Expertise includes "internal transitions" and "key employee incentive plans", among others, to help meet the owner's transition objectives.

Questions Answered: 

1. What are typical Challenges to Internal Transitions?

2. What are some of the most common strategies/techniques I see used?

3. Why do Owners Seem to Prefer an Internal Ownership Transition?

Contact Info: 

Website: www.exitplanstrategies.com

Email: drh@exitplanstrategies.com

 

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Host: Bill Black Audio Library: www.ExitCoachRadio.com

Roger Laidig discusses life choices, hope, and messages you can take away from life and relationships. 

Transcript: 

Roger: I was advised to quit work and I was advised to lay low, but I had to realize, that was not my destination, that was just where I was at at that day. There's a whole lot more life to come, and the choices I would make if I had a clearer vision of where I wanted to go gave me hope, and hope does miracles in terms of, in my case recovering. But the biggest thing I took away from that was, I began thinking, 'what do I want my life to look like 20 years down the road?' I went to a few funerals around that time, and there wasn't anybody talking about cars, or buildings, or houses, they were talking about people and relationships that they had with other people. 

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In this 1 minute excerpt from his interview, Robert Friedman discusses the steps to developing your brand.

Listen to his full interview!

www.Fearlessbranding.com

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Ross is the Chief Market Analyst and writer for, "Wealth Empire." He advises subscribers on traditional and alternative wealth-building strategies. His service, the 13F Insider, tracks the trading activity of top hedge fund managers in order to find high-conviction investment opportunities. He is also a former broker, advisor and educator in the financial markets for (JPMorgan Chase, Regal Securities). 

Ross grew up in the Gulf Coast in Mobile, Alabama. He bought his first stock at age 12 (Microsoft) - he really wishes he held on to that one! Ross began trading stocks in high school and has been hooked on the markets ever since. He earned a BS in Finance from Auburn University and acquired his Series 7 and 66 licenses in his senior year. He has worked at a few investment advisory firms but grew tired of how most clients get taken by lagging returns and high fees that wipe out hundreds of thousands of dollars in potential gains each.  

As an avid reader of investment philosophy, Ross has studied the work of Ben Graham, Warren Buffett, Howard Marks, Seth Klarman and other legendary money managers. He believes that value is the foundation of every investment decision and the most successful Wall Street titans have all used a similar framework. 

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Roger Winsby, President, AxiomValuation Solutions,  discusses the importance of positioning your business for sale based on the Buyer's needs and perspective.

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Patricia Thompson is in the business of corporate psychology and is going to talk about how applying the principles of positive psychology can not only make you happier, they can also enhance your business. 

Questions Asked:

1. What is positive psychology and how can it help businesses make more money? 

2. What are some challenges you have found in getting people to accept this message?

3. Where do you suggest leaders begin if they want to create a more positive culture?

Contact Info: 

Email: patricia@silverlingingpsychology.com

Website: www.silverliningpsychology.com and www.patricia-thompson.com

Bonus Material: 

Book: "The Consummate Leader: A Holistic Guide to Inspiring Growth in Others...and in Yourself" is available on Amazon.

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Carolyn Rosenblatt of www.AgingParents.com discusses 2 of the 3 Pillars of a Healthy Retirement.

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Scott Henderson works with Doing Good Works. Doing Good Works brings value to their clients through the sale of promotional products, print, packaging and coffee. Revenue generated through Doing Good Works supports changing outcomes for foster youth that age out of the system. Today, Scott will discuss corporate social responsibility. 

 

 

Contact Info: 

Website: www.doinggood.works

Email: scotth@doinggood.works

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We add new content daily! 

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Transcript: 

Ganesh: There are various Visa options for work, but the one main one is the H1-B Visa. There are only 65,000 of those Visas available every year, and they're first come, first serve. The demand for those Visas is vastly more than the supply, so of those 65,000 about 225,000 apply for that. So, the remainder of those people are put into a lottery, and if they win then they get one of these 65,000 Visas or they get the ability for the immigration service to adjudicate them. That runs on the fiscal year of the government, which is October 1st. We can begin filing April 1st. So, if you contact me January/February of each beginning year, then that would probably be the appropriate time so that we can put together a properly filed petition in April.

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AMI coaches is a leadership and management development firm, led by Master Certified Coach Agnes Mura. AMI gets business leaders, C-suite executives, managers and boards to operate at the top of their game. In several languages, and founded on the latest research in leadership development, AMI provides coaching, assessments, facilitation and training across most industries, in the US, Latin America and Europe.

Contact Info: 

Website: www.AMIcoaches.com

Email: Agnes@AMIcoaches.com

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Bill Black Interviews Jan Schau, who discusses legal strategies and the importance of knowing the best time to mediate.

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Transcript: 

Jan: There are lots of good times to mediate. One of them is before a lawsuit is filed. Another is right before trial, now we're really gonna have to spend the money, take the risk, put 12 strangers in a box, inconvenience people...they're not gonna understand me, and maybe I'm not gonna get what I want out of it, anyways. A third is even during trial. I had an arbitration that happened to an age discrimination matter, and I listen to this old guy for 4 or 5 hours, and the next morning I said to the two lawyers, "do you guys want to talk?" and sure enough, they really did. He had been able to get everything off of his chest, they were able to work it out. So, there's lots of interval spaces, and part of it is you the disputant, and your lawyer, have to talk about when's the right time, when's the best time.  

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Barry Davis, of Insperity, discusses how Small Companies can offer big company benefits packages, and attract top talent that will help them grow.

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Guy Baker of www.Wealth-Teams.com discusses key financial strategies for business owners and investors of all types, sizes and ages.

Contact Info:

Email Address: guy@btagroup.net 

Website: www.wealth-teams.com

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David Sherak, Partner-Vogt,Resnick & Sherak discusses several important planning agenda items as you start to think about your overall Succession plans.

Transcript: 

 

David: One of the important things is: make sure your ownership structure of your business is taken care of. If you do have a trust, make sure that the share certificate for a corporation, or the operating agreement, identifies the trustee of that trust as the owner of that property. Also, make sure that the instrument doesn’t have any special individual that’s appointed to deal with, perhaps a dispute resolution process, that might be in conflict with the terms of trust’s successor trustee or executor under those instruments. Make sure that your advisors are well aware of this planning, including your financial advisors, like the example with the collateral commitments of the bank: the bank didn’t know that this individual was  also naming them as a trustee of his various trusts, and ultimately that bank also held the loans, so it didn’t fit within their administration parameters to basically service their own debt, and resign the loans and deal with that collateral commitment. So making sure that all of your advisors are aware of these instruments is important. 

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Jason Kwiatkowski, President, Valuation Support Partners Ltd. explains the upcoming gut of businesses that will be up for sale as age 50+ owners start to sell en masse and the best strategy to compete effectively. 

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Chaz Dykes discusses cost saving measures for companies and the future of LED lighting.

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Michael Levine is the President of Levine Insurance Advisors, a company focused on income and wealth preservation planning. 

 

Questions Asked: 

 

1) Tell us about your background in accounting. 

2) What is your business approach?

3) How do you approach each client?

 

Contact Info: 

 

Website: www.levineadvisors.com

Email: michael@levineadvisors.com

 

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Another 1 minute highlight from Jim Doty's recent interview. The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.

 We add new content daily, so come back often! 

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Host: Bill Black. 

Jonathan Zucker discusses how to make your business attractive and sell it appropriately in the marketplace. 

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Host: Buck Blanton. Audio library: www.ExitCoachRadio.com. 

John Howard discusses retirement plans, choosing audits, and how you can determine which process is right for your business. New content daily - tune in on iTunes!

Transcript: 

John: Typically, in these retirement plans, when you exceed 120 participants, then that first year when you receive 120, you are subject to an audit. You are considered a large plan at that point under the Department of Labor and the IRS standards, and you need to submit an audit. Now, the problem is the next step: Once you determine you need audit, is what type of audit, because there are different audits with retirement plans. There's what we call a limited scope audit, which and auditor does not need to do as much work as with a full scope audit, and the difference with those would be, if the plan assets are held by a financial institution such as a bank or an insurance company, they can certify that the plan assets are what they are, the transactions have been posted properly to the participant's accounts, the allocation of earnings to the participant's accounts is accurate, then we can accept that under the Department of Labor standards. 

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John Foley and David Shaffer discuss the benefits of preparing for due diligence early.

 

Transcript: 

Bill: How can you be prepared for what your buyer’s are going to be looking for? Here’s expert John Foley.

John: What we usually share with a client is that if they are looking for an exit-strategy, particularly looking towards an investment firm, they’re gonna have to demonstrate not only a future revenue projection, but also historical performance. So, if we’re in a start-up mode, it’s not realistic to expect that someone’s gonna jump in like Google and buy you on day one. You really need to have that 3 to 5 year history behind you. So, for us, it’s saying, start at any time, the earlier the better, and based on where you are in your life cycle, let’s determine what the appropriate target exit is, what is the multiple target, how are we gonna reach that value?

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David Humphrey discusses the value of a business and the importance of viewing your business from a buyer's standpoint. 

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Adam Grant of Alpert, Barr & Grant heads up the Mobile App Practice Group. He offers tips for getting in sync with current mobile technology trends.

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Transcript: 

Steve: What are some of the tips and strategies and precautions that you give business owners if they're starting to look at business insurance?

Greg: You go for a second opinion. And I wouldn't get that second opinion from some person that sold through the policy. That, to me, would not be a second opinion. And I'd also have the work done from a firm that's not a captive firm, inside a single life insurance company. So, captive agents are, shall we say, encouraged by their parent companies to keep coverages on the books. And, I'd also ask the auditor what they're gonna do for you if you have someone offer to do a policy audit. Make sure they're just not going to try to find you a replacing carrier under the disguise of a policy review. 

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Host: Bill Black Audio Library: www.ExitCoachRadio.com 

John Wendall Adams discusses betrayal, reactions, and how forgiveness is the only way to true progress. 

Transcript: 

John: What happens when a person is really betrayed, typically there are three different responses: one is, "you know what, they did something to me, so I'm going to retaliate. Whatever's important to them, family, friends, their love relationships, possessions, etc., I'm gonna come against all of that." The other response would be, to say, "you know what, that doesn't really hurt me, and as a result, I'm gonna shut down that portion of my life and I'm not gonna allow anyone ever again to get that close to me." The third one is to really forgive yourselves, forget the other person and really think about what it is that you could have done differently, and really start to move toward that direction to say, "hey, you know what, I can't change what transpired, but what I can do is choose to rise above it." 

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Host: Buck Blanton. Audio library: www.ExitCoachRadio.com. 

Amin Rajan discusses investment options, market power, and how it pays to hold on to your stocks. 

Transcript: 

Amin: In today's market, it does pay to be opportunistic where you really see good buying opportunities, but that, as I said, only happens at the age of the portfolio. 80 - 85% should really be invested in medium term assets, because although risk premium is not so stable as it was in the past, it does materialize in the long-term. Markets do retain their self-healing power. We don't know how long it takes, but I reckon that within 5 years, we can see the results. Now, if you look at what happened after 2008, the massacre that we had in the market, since then markets have been up 300%, it showed that markets do have self-healing power, and that's not only just in the United States. In other countries, as well, markets have been sharply up since the last low point in March 2009. So, it pays to hang on to your stocks, it pays to have very strong beliefs about the companies and about the industries that you're investing in. 

And be sure and get the free e-Book "Business Continuity: 5 Steps to Protect your Family", a True Story of a business planning tragedy and steps you can take so your Family does not become the Victim of an Unplanned Business. To Download it FREE  Click Here

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Marnie has been a restaurant and retail store owner and the online mentor to over 14,000 leaders from over 30 countries. She also has authored 12 "How To" books, and in this episode she shares tips of how you can do it all and still have time for yourself!

And be sure and get the free e-Book "Business Continuity: 5 Steps to Protect your Family", a True Story of a business planning tragedy and steps you can take so your Family does not become the Victim of an Unplanned Business. To Download it FREE  Click Here

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Host: Bill Black  Audio Library: www.ExitCoachRadio.com

KC Victor discusses various methods you can use to differentiate you and your business from the rest of the herd.  

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Andrew works with Financial Planners and Advisors, CPAs, Trust Attorneys and Realtors to strengthen and lengthen retirement planning.

Questions Answered: 

1. What customers worry about versus what they should worry about?

2. How important is liquidity to retirement? 

3. What are some red flags when discussing reverse mortgages?

Contact Info: 

Website: www.effectiveretirement.com

Email: socalreverse@gmail.com

Bonus Material: 

No obligation discussion whether reverse mortgage will help you, or your clients, reach your retirement goals. Free second look for clients already considering reverse mortgage.

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Transcript: 

 

Bill: How can senior management keep employees focused on the strategic goals of the company? We asked expert Christine Miles.

 

Christine: I think, sometimes the senior leadership is very clear, but they have a whole organization to move to those initiatives, and people have shifting priorities all day long. And so, how do they keep them on top of those initiatives while dealing with their fast paced world and and what they're bombarded with? Does everybody understand why we're doing this and what we're trying to accomplish, and then are we all going about that in a similar way? And so the alignment around that, hence the Art of the Nudge, of our framework that we've developed, is really the engine that drives the car. And so, understanding the story, telling the story and developing that story so that people are called to that action and inspired to action as part of that. So, I think sometimes it's the gap between what the senior leadership knows and what gets down to the people who have to initiate all that activity. 

 

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Transcript: 

Miriam: So often, people have internalized their plans for retirement for so many years. It's so much a part of them, they don't feel like they need to talk to anybody about it, and even if they're sharing that retirement with another person, they just assume that the other person is on the same page, and that's where all the trouble begins. People haven't talked about it, they think that retirement is just this reward for a lifetime of work, and they haven't sat down to say, "well now that I have it, how am I gonna make this important? How am I gonna make this what I want? How am I going to enjoy these years?" Now people are retiring and they might have 30 years of good health, good mental health, and they don't know what to do with it, and they haven't really thought about it.

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Transcript: 

 

Kim: Women have a stronger tendency to go into a service based business than a product based business. The reason for that is because it usually doesn't require much, and start up cost to start a service based business, obviously, if I want to teach piano lessons, I could just pass out flyers, you know $10 at Kinko's, and voila, I have two clients. But the problem with that is, it's not scalable on training time per dollars, I can't grow that business beyond my own time. So, the solution to that is, either go to a product based business, which will require more start up cost, obviously if I'm going to manufacture pianos, I'm going to have to get a big loan or get an investment, and then I can scale that business as much as I want to scale it. Or, if you have a service based business like I do, be willing to scale it, and that means be willing to understand that you are replaceable by employees, and you have to be replaceable. Your position in the company is to oversee the company and not to actually be in there working as an employee in your own company. 

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Host: Bill Black. 

Minda Wilson discusses health care legislation and its effects on small businesses and their employees. 

Transcript: 

Bill: There are some health care penalties coming up for 2015, what will they be and how will they effect small businesses?

Minda: Starting after the first of the year, if you have more than 50 full time equivalent employees, 50 or more, you're going to have to offer insurance to your employees. And the thing that most small businesses don't realize is that that means full time equivalent is calculated by adding up all the hours that your part time people work. And generally I advise people if you're 49, 48, you probably still should look into providing insurance because they do count overtime. 

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Chris Hill discusses decisions that have to be made after the worst happens, and how you make the difficult process easier. 

 

Transcript: 

 

Chris: When somebody passes, there are about 150 decisions that need to be made within a 24 to 48 hour period, and there is no guide, there is no funeral director that takes you through all this stuff. There are so many things surrounding that, I don't even have enough time in an hour to tell you what they are. But, you have all these decisions to make, and at the same time, you've lost your spouse. And think about this, you've lost two things, you've lost their companionship and their income. Now, by companionship, I mean everything you did in your life, you did with that person, every decision you made. Now, you're own your own, and you've got a decision to make where you don't know what they wanted, how they wanted it, they're not with you to help guide you. 

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Transcript: 

Larry: Purchasing insurance: so often that a CEO of an organization or the CFO of an organization, the biggest mistake they make is they go ahead and they focus on the cost of it. So that, kind of going back to what's the process? You know, first you're doing an organizational analysis or operational analysis, then you do a coverage analysis of the current programs, and then the third step is to write an insurance spec. Okay, so that's spelling out what insurance that we need and how it needs to be structured, and then going out to market and getting quotes based on that. Limits of insurance mean absolutely nothing, what's critical is the details that are within those policies. So if you have an insurance spec of what everything is supposed to be covered, how it's supposed to be covered, the detail of what you're looking for relative to the terminology within that legal contract, then you go ahead and look at the market price based on that. That's how you buy insurance. Buying it just based on limits is literally Russian Roulette.

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Here's a 1 minute highlight from an interview with one of our Guests. Find their full interview at www.ExitCoachRadio.com -- just click "Audio Library" in the "LISTEN" section and enter their name to sell all of their interviews!

Transcript: 

Gail: You know, if you document your procedures before selling your company, or before a key employee leaves, the documentation ensures that employees follow best practices no matter who does the tasks. If you do it right it provides that detailed step-by-step of how and why a task is performed. The other thing we like a company to do, is we know that the big picture is easy to see if you have process work flows. You can spot inefficiencies and areas that need improvement immediately. I recommend that all private companies should create workflows of their processes, their procedures, and their tasks. I also mentioned we do some consulting, and since we are spending time with our clients to learn that inner working of the company, we're gonna offer you a fresh perspective on what is and is not working efficiently. You know, that might even include not having the right people on the seats in the bus, and I've seen that often enough with many of my clients. 

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Richard provides financial planning advice, particularly to Baby Boomers considering a transition out of the business world.

Questions Answered: 

1) Why do you believe it is important to redefine retirement? 

2) What do you believe is a better path for those about to retire or transition out of business? 3) How do you help these people who are considering a sale of their business or retiring?

Contact Info: 

Website: richardwardwealthadvisory.com

Email: richardwardcfp@gmail.com

Bonus Material: 

"Redefining Retirement: Finding Purpose and Passion in Your Second Half" is available on Amazon

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Larry Bell discusses group term life insurance, and the benefits of turning it into a tax planning tool. 

Here's a past highlight from one of our Guests. Find their full interview at www.ExitCoachRadio.com -- just click "Audio Library" in the "LISTEN" section and enter their name to hear all of their past interviews!

 

Transcript: 

 

Bill: A lot of people think group term life insurance is just a throw away benefit that your offer for employees. Here, you come off and say, "wait a minute, that could be an incredible, tax beneficial planning tool?"

 

Larry: So, today, we want to talk about a time tested approach using group term life insurance, a section 79 plan, to provide benefits for your employees, but also have a small group of those special employees that you want to handle differently, for just the owner themselves. And, we can set this up, and we don't have to fund it until the following October 15th of the year that we're getting the deduction for and that we're funding for the selected employees. 

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Elizabeth Ledoux is the CEO and Founder of vNacelle, a business focused on Transition Roadmaps and how they can help business owners. 

Questions Answered: 

1) What are the top 3 challenges that a private business owner faces as they think about transitioning out of their business? 

2) What new skills or shifts in behavior does an owner need to focus on or master when navigating their transition? 

3) What is a Transition Roadmap and how does it create success for an owner as they move toward a transition?

Contact Info: 

Website: www.myBVA.com 

Email: elizabeth@vNacelle.com

Bonus Material: 

Visit www.myBVA.com and take our free assessment to find out where you are in the Entrepreneurial Flight®.* 2 books available on AmazonAccelerate Your Entrepreneurial FlightBy: Melvin J. Wernimont, PHD and ElizabethandUnderstanding the Growth of the EntrepreneurBy: Melvin J. Wernimont, PHD and Elizabeth

 

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T. Phillip Boggess of TPB Financial discusses the critical first steps of planning.

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Host: Bill Black, The Exit Coach Radio Show - the Information Station for age 50+ business owners. 

Transcript: 

Bill: What's the first step in planning? Here's T. Phillip Boggess

T: The first thing for everybody, whatever you're doing, is you need to get started. The plan isn't worth the paper it's written on, unless you take steps to move toward your goals and take the action steps you had in there. The reality is, the earlier you get started on most of these things, the more options you have, the more likely you are to be able to accomplish what you're trying to accomplish. And the second part is, your plan has to be flexible, and you have to review it to make sure over time that it's still performing the way you want it to, because things change, you know, whether it's laws, taxes, economic environment, your goals, your personal situation, it's gonna change. So, we have to review it and make whatever tweaks are necessary along the way to keep you going along that path, or making the turn, if your goals have changed, to your new path so we are going the direction that you want to go at that time. 

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Rhett Bray of BeaconPath discusses how employers can use the services of a Broker to contain medical insurance costs.

Transcript: 

Bill: Medical insurance is a big part of your budget. How do you contain those costs? We ask medial expert, Rhett Bray. 

Rhett: We'll talk about wellnesses, how we can start to communicate the importance of wellness, and that we give the people and the employers the opportunities to do things that will help them to become healthier. We start to educate them on the importance of annual physicals, we start to educate them on preventative care. Women do this quite well, men have the tendency to wait until body parts don't work, and then they go, which can be late. And it's interesting, we take better care of our car, we change the oil, we see the lamplight come on, and for a lot of us, we don't do the maintenance that we should do on a regular basis. That will identify a lot of issues people have, that now you can start to address easily through medication, through exercise, or diet. There are just a few key areas that you can identify that will drive these higher costs. 

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Jeff Pallister helps business owners accelerate growth by making significant improvements to operations.

Questions Answered: 

1. What are the biggest challenges in improving operations?
2. What difference will it make?
3. What is required in time and money?

Contact Info: 

Website: www.improvementprograms.com 
Email: jeffpallister@gmail.com 

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Host: Bill Black. 

Jonathan Zucker discusses how to make your business attractive and sell it appropriately in the marketplace. 

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Dr. Jerry Kornfeld wants to talk about an experience he recently had with a patient and the exciting things happening in medicine today. He will discuss erectile dysfunction and the effects of the current medication we have today, what effect positive thoughts have on a patient, and the role of positive doctor's words.

Contact Info: 

Website: www.askdoctorjerry.com 
Email: kjbkorn@aol.com 

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