Exit Coach Radio

Larry Bell - Multi-Partner Professional Firms Have Unique Retirement Funding Problems

Guest: Lawrence L. Bell, JD,LTM,CLU,ChFC,CFP®,AEP

Larry Bell creates unique solutions for difficult financial issues. In this interview, he explains the unique problems that multi-professional firms wrestle with to help the Partners prepare for retirement on a tax-advantaged basis. Contact Larry at larrybell@theuniquesolution.com

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Marc Hankin - Small Businesses Need Trademark and Patent Protection Too

In this 1 minute highlight from his interview, Marc Hankin of Hankin Patent Law discusses how his firm works with small businesses to protect their ideas and processes.

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AM 830 KLAA 10/16 2016 Show

Bill interviews executives from Golden State Foods about their corporate culture that is giving back to communities near and far, and John Dini about Exit planning Myths.

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

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Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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Oren Klaff - The Ultimate Dealmaker

Oren Klaff for his tips and ideas about preparing for and closing BIG deals.

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John Brown - The Headwinds That Make It Harder To Sell Your Business

In this 1 minute highlight, John Brown, President and Founder of BEI (Business Enterprise Institute), discusses one of the three headwinds that have created a difficult environment to exit a business.  

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Chuck Kiskaden - With the Affordable Care Act, A Good Broker is More Needed Than Ever

In this 1 minute highlight, Chuck Kiskaden, President/CEO, Health Benefits Advisors  discusses the Affordable Health Care Act, A Good Broker is Now More Needed Than Ever. 

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Mike Burleigh - Don’t Count on Inheritances to Save Your Retirement

Expecting mom and dad to help fund your retirement by leaving you an inheritance? Don’t count on it.

That’s one of the messages behind a new survey by HSBC Holdings PLC, the London-based parent of HSBC Bank USA.

According to the survey, 23% of pre-retirees would ideally like to spend all of their savings and let their children fend for themselves. In contrast, a mere 9% say they want to save “as much money as possible to pass on to the next generation.”

What’s behind the 14-point gap between those who want to spend it all and those who want to give as much as possible to younger generations? Several things. Many worry that by giving money to their children they will “take away the drive of the next generation to succeed,” says Brian Schwartz, an HSBC wealth adviser. Still, others anticipate that due to improvements in longevity, they may spend much of their savings along the way.

For many, though, the “spend it all” mentality doesn’t necessarily equate to a desire to spend it all on themselves. Mr. Schwartz says many people in or approaching retirement are interested in or practicing a “new approach” to estate planning that emphasizes giving away some money to the next generation while they are still alive. For some, the appeal is that they will get to see their children and grandchildren enjoy and benefit from their largesse. For others, it’s a way of testing the impact an inheritance will have on their progeny — in order to make adjustments if necessary. Still, others want to give their money away while alive for tax reasons.

“There is already talk in Washington about reducing the estate tax exemption to the levels that were in effect in 2009,” says Mr. Schwartz. Currently, individuals can transfer $5.43 million tax-free at death. A return to 2009’s level would mean the limit would revert to $3.5 million. “People recognize that estate taxes may go up” in the future, making it more palatable to give assets away now, he says.

The survey of 1000 Americans — 21% of them retirees — was part of a global survey of 16,000 people in 15 countries.

While the new approach to inheritance makes a certain amount of sense, it nonetheless comes with risks. In particular, giving away money before death now can leave you at greater risk for not having enough in later life.

The best plan, financial advisers say, is for families to talk — if only to establish realistic expectations.

Not surprisingly, many families are loath to discuss these issues. Adult children, in particular, aren’t eager to ask their parents about inheritances for fear of coming across as greedy.

Still, the survey indicates that working Americans have high hopes for inheritances — perhaps too high, according to Mr. Schwartz. According to the survey, almost half expect to receive an inheritance. Among them, nearly 20% are banking on an inheritance to completely or largely fund their retirements, while half say they expect to receive enough to provide them with some support in their later years.

While some may have good reason for their expectations, many others are likely to find that they won’t be getting nearly as much as they had hoped, says Mr. Schwartz.

In an era of low interest rates, volatile financial markets, expanding longevity, and rising costs for health and long-term care, parents may find that they need every penny for themselves. Indeed, thanks to medical gains, a 65-year-old man has a 60% chance of living to age 80 and a 40% chance of reaching 85. For women, the odds are 71% and 53%, respectively. All of this has made the 85-and-over age bracket the fastest-growing segment of the population.

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Audrianne Adams-Lee - Avoiding Common Employee Claims with a Few Precautions

Sometimes an ounce of prevention is worth a pound of cure. In this brief highlight, Audrianne Adams-Lee of HR Network, Inc. discusses some very basic steps that anyone can take to reduce the incidence of some of the most common claims that effect Employers. 

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John Livingston - Beginning Steps Toward The Exit

John Livingston of Plethora Businesses shares a quick overview of what it takes to prepare a business for sale.

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Ben Olsen - The Buyer's Perspective

Ben Olsen is in the business of Mergers & Acquisitions and is here to discuss the important factor called: The Buyer's Perspective. 

Questions Answered: 

1. What does a buy-side firm do? 

2. What is most important to a buyer? 

3. What are three things that make a great seller?

Contact Info: 

Website: www.thedvsgroup.com

Email: ben.olsen@thedvsgroup.com

Bonus Material: 

See our sample due diligence checklist

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Teri Goetz - Turn Your Fear Into Your Future

Teri Goetz describes how to get in touch with your "Four Pillars" and embrace your future.

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Stuart Proctor - The Benefits of Reinventing Yourself

Stuart Procter is making the jump from 10-year CEO of an engineering company servicing the highly technical semiconductor manufacturing industry to executive mentoring and coaching.

Questions Answered: 

1) What drove you to reinvent yourself professionally? 

2) What is your "why"? 

3) Where do you see yourself in 5-years?

Contact Info: 

Email: stuart.proctor@semiserveinc.com
Website: www.semiserveinc.com

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Jim Immel - Real Key Employees Need Real Incentives

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!

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AM 830 KLAA 10/9 2016 Show

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

. 

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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John Murphy - Think Like A Buyer

John Murphy (aka "Murph") and David Horwich of JKMurphy Advisors  discuss their unique outlook and provide tips and ideas for preparing your business to achieve your objectives.

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Chaz Dykes - Big Savings From New Lighting Technology

Chaz Dykes discusses cost savings measures for companies.

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Rhett Bray - The Affordable Care Act: Can We Afford It?

Rhett Bray of Beacon Path discusses his outlook on the Affordable Care Act and other Employee Benefit plans that Employers need to know about. 

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Aaron Weiner - Lease Options You Should Know About

Aaron Weiner of Bailes & Associates shares a one minute tip about Options to Extend Your Lease that can enhance the value of your Business.

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Brad Leggett - When Carrots and Sticks Aren't Enough - Sales Team Diagnostics

Brad Leggett of the Leggett Group discusses his 20+ years of findings regarding Building a Winning Sales Team on The Exit Coach Radio Show with Bill Black.

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Brian Sullivan - The Tax Benefits of HSA Accounts

Brian Sullivan of Martin J Wolff & Company discusses the reason for the rise in popularity of HSA accounts. 

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Michael H Cohen - Ancient Wisdom and Modern Technology

Michael H Cohen of the Michael H Cohen Law Group discusses the future state of health care and legal issues for those who are starting health related businesses of all kinds. 

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Jan Ibey - 3 Steps To Be Lender Ready

Jan Ibey of Cinergy Commercial Capital talks about three tips to be "Lender Ready" when seeking financing. 

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Dennis Hensling - The Changing Mortgage Environment

Dennis Hensling, Vice President of United American Mortgage Company, discusses recent developments in the Mortgage Industry.

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Jim Doty - The Exit Strategy Handbook

Jim Doty of B2BCFO talks about the Exit Strategy Handbook, which contains multiple checklist and guides that you should have to prepare for your Exit plan. The book is available at www.ExitStrategyHandbook.com 

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AM 830 KLAA 10/2 2016 Show

Jan Ibey - When Your Bank Is Not A Solution

Jan Ibey, CEO of Cinergy Commercial Capital, discusses alternative financing solutions for business owners.

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Marc Hankin - 2 Tips and a Precaution About Your Intellectual Property

If you have a company that is outperforming your competitors, you probably have some IP assets to protect. In this brief interview highlight with Marc Hankin of Hankin Patent Law, Marc shares Tips and Precautions that you should know. 

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Michael H. Cohen - Examples of Healthcare Related Business Regulatory Issues

In this brief highlight, Attorney Michael H. Cohen gives an example of some of the Regulatory Issues that Healthcare oriented businesses should be aware of. 

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David Elliott - Influencers for Good

This interview with David Elliott is about the Institute for Influential Community Impact and its work in educating, inspiring, engaging and honoring people and organizations making a difference as Influencers for Good. 

Questions Answered: 

1) What are some key deliverables the Institute is currently engaged in?

2) Who could and should be involved with the Institute?

3) Where do you see this going in 2017 and beyond?

Contact Info: 

Website: www.Passkeys.org

Email: dlelliottconnector@gmail.com

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Carolyn Rosenblatt - A Dream Team for Working With Aging Parents

Carolyn Rosenblatt shares one of the reasons that AgingParents.com is so successful -- a unique mix of talents and skill sets. 

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Dr. Jerry Kornfeld - An Update on Your Heart Health

Dr. Jerry's mission is to touch the lives of his audiences with the latest and most objective, scientific information about their most important asset, their health.

Topics Covered: 

1) Nat Geo Blue Zones

2) Stress management 

3) Latest on Telomeres

Contact Info: 

Website: www.askdoctorjerry.com

Email: kjbkorn@aol.com

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Miranda McCroskey - Professionals May Have More Problems When in Trouble

Miranda has invested many years in helping Professionals when they get in trouble -- and beyond the Court system, they may face disciplinary hearings, even loss of license.

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Matt Evans - How Technology is Making the Planning Process More Engaging, More Accurate and More Fun.

Matt has been an early adopter of financial planning technology that allows clients to gain better clarity and organization around their entire financial world.

Questions Answered: 

1. How is technology changing how financial planning is done today?

2. Business owners can have multiple things going on - various assets, liabilities, business vs. personal goals, etc.

Have you seen technology make planning for business owners more effective? How?

3. Advisors talk about asset allocation, but one of the things you talk about is asset location. Talk a little about that.

Contact Info: 

Website: www.barthfinancialadvisorsllc.com
Email: matt@barthfinancialadvisorsllc.com

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Brad Leggett 1 minute tip

For info contact www.leggettsales.com

AM830 KLAA 9/18/2016 6PM Show

Bill Black interviews Lynn Strang and Brian Turner.

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future?. In 13 minutes you can have a FREE online Assessment to find out where you rank in 8 key areas at www.BizGrowth123.com

. 

Sponsors: BarthCalderon, LLP | Exit & Retirement Strategies, Inc. | BEI |HKA Marketing Communications | Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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AM830 KLAA 9/18/2016 10AM Show

Bill Black interviews Ken Bator.

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future?. In 13 minutes you can have a FREE online Assessment to find out where you rank in 8 key areas at www.BizGrowth123.com

. 

Sponsors: BarthCalderon, LLP | Exit & Retirement Strategies, Inc. | BEI |HKA Marketing Communications | Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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Marlo van Oorschot - Age 65 Has Implications When it Comes to Divorce Court

In this 1 minute highlight, Marlo Van Oorschot, Attorney at Law of Law Offices of Marlo Van Oorschot, APLC discusses the impact of reaching age 65 when it comes to divorce proceedings.

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Marlo van Oorschot - How To Survive Grey Divorce

In this 1 minute highlight, Marlo Van Oorschot, Attorney at Law of Law Offices of Marlo Van Oorschot, APLC discusses why she wrote her book How To Survive Grey Divorce.

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Sue Koch - How to Remodel Your Life with Passion, Purpose, and a Paycheck

Just like housing trends and fashions go out of style, what fit you as a career when you were young probably doesn't

work anymore. My coaching focuses on helping my clients navigate the changes and have fun doing it rather than being

miserable and resisting it.

Questions Answered: 

1) What led you to become a Career and Life Design Coach?

2) What led you to write your book Sexy Second Act: Remodel Your Life with Passion, Purpose and a Paycheck?

3) What do you think is the biggest challenge facing Boomers who are either in a career transition or who don't want to

retire?

Contact Info: 

Website: http://3squarescoaching.com/

Email: sue@threesquarescoaching.com

Bonus Material: 

My book Sexy Second Act: Remodel Your Life with Passion, Purpose and a Paycheck is available on Amazon. Also, a complimentary "get acquainted" coaching session to help someone who is feeling stuck about where to start to design a Sexy Second Act life or career. That session is specifically designed to identify what is stopping them and help them see what might be possible for them. 

Visit ExitCoachRadio.com for Audio, Videos, Books and Interactive Tools to Grow Your Business Value, Protect Your Family and Prepare for your Future Transition.

New! Get our iPhone app at the App Store  - search for Exit Coach Radio. Grow your business value by up to 71% - take a free assessment at www.BizGrowth123.com 

AM 830 KLAA 9/11/2016 6PM Show

Bill Black interviews Jim Jubelirer and Jody Holland for their tips, ideas and precautions.

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future?. In 13 minutes you can have a FREE online Assessment to find out where you rank in 8 key areas at www.BizGrowth123.com

. 

Sponsors: BarthCalderon, LLP | Exit & Retirement Strategies, Inc. | BEI |HKA Marketing Communications | Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

Listening from an iPhone or iPad? Get our App in the App Store: click here

AM830 KLAA 9/11/2016 10AM Show

Bill Black interview Pam Reyes for her tips, ideas and precautions for business owners.

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future?. In 13 minutes you can have a FREE online Assessment to find out where you rank in 8 key areas at www.BizGrowth123.com

. 

Sponsors: BarthCalderon, LLP | Exit & Retirement Strategies, Inc. | BEI |HKA Marketing Communications | Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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David Elliott - Why Join a Chamber of Commerce

In this 1 minute highlight, David Elliott, President and CEO of the 125-year-old Santa Ana Chamber of Commerce, discusses why business owners should consider joining, and participating in, their Chamber of Commerce.

Transcript: 

Bill: So, there's been a lot of talk, especially on LinkedIn and some other types of community networks out there, and people are starting to question: is the Chamber a good thing for me to get involved with as a small business owner? What would you say to someone like that as far as, why should they get involved with the Chamber? 

David: Well, I think, as we said at the beginning, there is always the networking, relationship building piece, which is kind of very foundational to any Chamber of Commerce, but I think it doesn't just end there. I think there's also the opportunity to do some, not just networking, but advertising. There's also the advocacy piece which we mentioned earlier, along with the access to other folks that you might need to be in front of, and then just being involved with a number of different activities and events, it creates a great opportunity. 

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Tim Voorhees - The Four Elements of Successful Planning

In this 1 minute highlight, Tim Voorhees, Managing Partner of Matsen Voorhees Law Offices discusses the four elements of successful planning.

Transcript: 

Tim: When you look at the elements of tax planning, you'll see there are four main ingredients. First is charitable planning. You get the income tax deductions, the tax-free growth, et cetera. Second is discounting, where when you move assets from one trust to another, you can often compress the value, what we call a squeeze and a freeze, or a squeeze and a freeze by Voorhees. Third, you have low-interest loans which work really well in the current low-interest environment. And then fourth is life-insurance. I put life insurance up there as one of the top four vehicles for efficient tax planning. In particular, what happens is, if you fund insurance correctly, you can do it very tax efficiently in the front end, the money grows tax-free and the money comes out tax-free. And that way, we find that the insurance is a key component of a lot of these advanced strategies. 

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Paul Cronin - What Will Your Life Be Like After You Exit?

In this 1 minute highlight, Paul Cronin, Partner & Director of Business Development of the  Successful Transition Planning Institute discusses 3 basic questions to contemplate as you prepare for a fulfilling life after Business Sale or Transition.

Transcript: 

Paul: There are a few essential questions you need to answer, and these are really existential questions. Okay, what's next for me? Number two is, what should I be doing with my business? Number three is, what should I be doing with my life? And when you have a very straightforward process to answer those questions, you end up creating new ideas, new opportunities, and then from there, you can start making decisions about which of these great new ideas are really good and which of them maybe aren't so great after all, until you make better decisions, more thoughtful decisions, or, what we call, more balanced decisions. And whenever you do that, you are more likely to come out with a better outcome, a more satisfactory transition from being the business owner to whatever this new life it is you've decided on.

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Larry Sukay - Behavioral Risk Management as a Strategy to Control Costs

In this 1 minute highlight, Larry Sukay, Vice President, Patriot Risk & Insurance Services discusses the concept of Behavioral Risk Management.

Transcript: 

Larry: For about 15 years I did risk management, organizational, operational, and cultural change management for Fortune 1,000 organizations. And during that time period, I pioneered a process which now is referred to as, Behavioral Risk Management. And it's based on the premise that culture of any organization drives the behavior within that organization, and behavior then will drive loss, and if you're able to control your loss, you'll ultimately then be able to control your cost. So, I spent a number of years developing that whole concept and principle. Ultimately, I was doing a lot of work with larger organizations using a lot of continuous processes and proving demming techniques and so forth, and turning these companies around. From a risk management perspective, these were organizations that had high worker's comp cost, they might be organizations where they're experiencing 10% loss as a percentage of payroll. 10% is extremely high, and they had gone through all the traditional means of trying to reduce that loss, and ultimately they just got so frustrated they brought me in, and within periods of time I was able to bring those costs down. 

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Michael Schwerdtfeger - Preventing Buyer's (and Seller's) Remorse

Michael Schwerdtfeger is a managing director at Chapman Associates. He provides sell-side mergers and acquisitions advisement to entrepreneurs and business owners exclusively. As a former attorney for Fortune500 companies, Michael is able to use his 20+ years of experience in handling complex business transactions to help guide his middle-market clients to the best outcomes.

Questions Answered:

1) Many of your clients go through the M&A process only one time. What steps do you take to educate them about the process before diving in?

2) How do you set reasonable expectations for your clients?

3) Do clients ever get 'cold feet' during the sale process? 

Contact Info:

Website: www.mbsmergers.com

Email: michael@chapman-usa.com

Bonus Material: 

Michael Schwerdtfeger’s eBook “The Inner Workings of a Deal: Tips for a Successful Transaction” is now available for download on his website. 

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Kim Trowbridge - Make Sure Your HR Vendor Can Handle Explosive Growth

In this 1 minute highlight, Kim Trowbridge, of AmCheck discusses some of the benefits of working with an outsourced HR/Payroll company.

Transcript: 

Kim: This situation, it was a current client of ours, who is a pharmaceutical company, they were going through some serious aggressive growth initiatives, as such, they acquired two other pharmaceutical companies. They didn't have the in-house resources to manage the acquisition as it relates to the HR functions and their employee benefits and their new hire on-boarding of the other companies. So, we actually took them on as a client in our services to provide them with a back office support. So, new hire on-boarding, making sure all of the employees from the other companies got rolled onto their insurance plans, offer letters were sent out, insurance information was sent out in conjunction with their existing insurance broker, and that company went from 50 employees to 150 employees virtually overnight, so we also plugged in one of our in-house HR professionals on-site to work with their company during that transition for 3 days out of the week. So, we're pretty scalable as it relates to when you talk about companies, growth, and change, we provide them with a foundation that's scalable to accommodate any growth and changes within their business as it relates to the payroll, the HR, and the benefit and administration functions.   

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Jan Rutherford - Growing Leaders Through Adversity

A former U.S. Army Special Forces soldier and successful business executive, Jan knows the value of overcoming challenges to strengthen your resilience to lead more effectively. Jan uses the power of story to provide an overview of self-reliant leadership principles to be a more courageous, humble, and disciplined leader. Jan helps leaders become more self reliant through a confluence of Sparta’s discipline, Socrates’ self-awareness, Aristotle’s courage, Emerson’s self-reliance, and Thoreau’s reflective seclusion.

Questions Answered: 

1) Tell me about your expeditions?

2) What does adversity have to do with growing leaders? 

3) How does solitude inform a leader? 

Contact Info: 

Website: http://selfreliantleadership.com

Email: jan@selfreliantleadership.com

Bonus Material: 

The Littlest Green Beret: On Self-Reliant Leadership is available on Amazon 

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Peter Cross - The 5x Impact of Workers Comp Claims on Businesses

Peter Cross of ISU Insurance highlights the real cost of a Workers Comp insurance claim to a Business.

Transcript: 

Peter: When you really look at the hidden balance sheet that occurs and goes along with claims, it's not just premiums you're paying, it's the management time that's tied up addressing claims, it's the supervisor's time tied up in addressing claims, and when you really look at what it's costing you, if you spend $10,000 on a claim, they say that it's a $50,000 cost to the business. 

Bill: Oh, is that right? It's a five times magnifier because of the soft cost of administrating and pulling it together and all the paperwork and everything? 

Peter: Correct. For a simple example: if you have someone who's out for about 2 weeks and you've got to replace them, you've got the cost of insurance that would potentially go up, the replacement of that person, the retraining of that person, the lack of productivity that comes out of it, the increased potential for another claim, and all those other things that are residing with it. So, when you start to amplify and put all that detail in, it really can be anywhere from a 3 to 5 times magnifier like that. 

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AM 830 KLAA 9/3/2016 3PM Show

Bill Black interviews Dave Wilens and Paul Schempp.

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? In 13 minutes you can have a FREE online Assessment to find out where you rank in 8 key areas at www.BizGrowth123.com

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Sponsors: BarthCalderon, LLP | Exit & Retirement Strategies, Inc. | BEI |HKA Marketing Communications | Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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