Your Business Your Life

Internal transfer of a business might seem like the ideal way to keep your legacy alive—but without a clear plan and the right guidance, things often fall apart.In this episode, Matt DiFrancesco explores one of the most overlooked — and often misunderstood — succession strategies: the internal transfer. Whether to family members or key employees, transferring your shop internally presents unique challenges. But with the right planning, it also offers the opportunity to preserve your legacy, take care of your people, and avoid the emotional and financial pitfalls that come with selling to a third party.Join Matt as he shares real stories, generational insights, and practical frameworks to help you decide whether an internal transfer is right for you — and how to execute it well.Matt also talks about:(01:09) Why selling to a third party may not be your best option(03:07) The value of generational businesses(04:08) Why the next generation doesn't want what you had(06:26) Redefining ownership to attract leaders(08:09) How to balance family dynamics in an internal transfer scenario(09.08) How to choose the right successor without creating resentment(10:26) Why working with a certified exit planner can make all the differenceConnect With Matt DiFrancesco:matt@highliftfin.com(814)201-5855LinkedIn: Matt DiFrancescoLinkedIn: High Lift FinancialFacebook: High Lift Financial Instagram: @high_lift_financialYouTube: @highliftfinancialDisclaimer:All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategies discussed here.High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC.  Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.

Repair shop owners today face a new kind of complexity: how to keep up with rapidly advancing vehicle technology without falling behind in training, tools, or talent.As modern vehicles become “computers on wheels,” the pressure to repair them properly is growing. Systems like ADAS and interconnected sensors demand up-to-date knowledge and precise calibration—raising the stakes for every technician in the bay.Join Matt Di Francesco and Pam Oakes, SME Auto technical app engineering consultant $ business intelligence, as they explore what it takes to stay ahead in a high-tech repair world—and why elevating the industry's image starts with investing in continuous learning.Matt and Pam also talk about:(02:23) The risks body shops face when repair protocols aren't followed(03:05) Why body shops should commit to training(05:24) The worst thing that a technician can ever experience(07:58) Why ASE Certification matters more than a recommendation(14:44) Why we won't see a fully autonomous car in the next 5 years(23:34) Why today's technicians are comparable to rocket scientists(24:12) How younger technicians bring fresh ideas to the shop(25:10) How can independent shops thrive in the future(27:46) An important reminder when searching for training onlineConnect With Pam OakesLinkedIn: https://www.linkedin.com/in/pamoakesase-eet/Website: https://www.autoINENG.ioEmail: autoINENG@gmail.comConnect With Matt DiFrancesco:matt@highliftfin.com(814)201-5855LinkedIn: Matt DiFrancescoLinkedIn: High Lift FinancialFacebook: High Lift Financial Instagram: @high_lift_financialYoutube: @highliftfinancialAbout the guest:Pam Oakes is a Subject Matter Expert Consultant in Automotive App Engineering and Business Intelligence at autoINENG.io, where she helps drive innovation across the automotive industry. With decades of hands-on experience, Pam specializes in ADAS and HVAC systems and serves on the National Science Foundation's NCAT advisory committee as well as the SAE International Task Force.In addition to her consulting work, Pam is a developer designer at Automotive Aids, where she and her team hold two pending patents for OEM sensors and have created a nationally recognized invention that is now available in major retail outlets like Ace Hardware. Pam is passionate about equipping the automotive industry with cutting-edge solutions and sharing her expertise to elevate standards and practices across the field.Disclaimer:All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC.  Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.

DIY exit planning is a path many independent collision shop owners take—especially when they're looking to sell to key employees or keep the transition “in-house.” But without the right structure and support, these plans often stall out or fall apart entirely, leaving owners frustrated and without the outcome they hoped for.In this episode, Matt DiFrancesco shares a real-life story of a shop owner who initially engaged with his process to sell the business to key employees—but ultimately decided to go it alone. Matt explains why these do-it-yourself exit plans rarely succeed and what shop owners overlook when they try to navigate the process without professional guidance.Join Matt as he unpacks why DIY strategies so often lead to disappointment, what a successful transition really takes, and how the right team can help you exit your business on your terms—with confidence and clarity.Matt also talks about:(01:22) The dangers of DIY Exit Planning(02:06) How a lack of expertise can lead to failure(02:40) How emotional involvement can lead to unrealistic expectations(04:34) Why a shop's revenue means nothing to your valuation(05:47) The importance of understanding your market(07.04) How shops are leaving money on the table without expert negotiation(07:56) Why having sufficient succession planning is critical(08:38) Why you can't set unrealistic time frames when it comes to exit planning(10:01) Why it's crucial to have a clear picture of the life you want post-exit(12:17) How working with a team that can guide your transition lead to successConnect With Matt DiFrancesco:matt@highliftfin.com(814)201-5855LinkedIn: Matt DiFrancescoLinkedIn: High Lift FinancialFacebook: High Lift Financial Instagram: @high_lift_financialYouTube: @highliftfinancialDisclaimer:All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategies discussed here.High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC.  Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.

Business owners planning their next chapter often face a tough decision: how to exit without compromising their legacy or selling to private equity.As baby boomers age out of ownership, many are turning to Employee Stock Ownership Plans (ESOPs) for their unique blend of liquidity, tax benefits, and cultural continuity. Yet, understanding the mechanics and long-term impact of an ESOP can feel overwhelming.Join Matt Di Francesco and Kelly Finnell, Premier ESOP Consultant and President at EFS ESOP Consultants, as they explore how ESOPs offer business owners a powerful way to exit on their terms—while turning employees into owners and preserving what matters most.Matt and Kelly also talk about:(02:30) Why are more business owners turning to ESOPs(05:45) What is an ESOP?(06:29) Three key ways ESOPs provide more than just a retirement plan(07:58) How ESOPs provide a powerful performance incentive(08:19) Can a 401(k) and an ESOP work together?(09:33) How are ESOP shares distributed among employees?(10:56) How ESOP shares are valued(12:28) Who should be the trustee of your ESOP trust(19:03) Why 95% of 100% ESOP-owned companies are S-Corps(22:03) What type of business would be a good candidate for an ESOP?(26:26) The four key questions addressed during the ESOP feasibility study() How long does an ESOP feasibility study and implementation take?Connect With Kelly FinnellLinkedIn: https://www.linkedin.com/in/esopcoach/Website: https://execfin.comOrder Kelly's book - The ESOP Coach here: https://www.amazon.com/ESOP-Coach-Ownership-Succession-Planning/dp/0578046997Check out these other resources as referenced in this episode:National Center for Employee Ownership - https://www.nceo.org/The ESOP Association of America - https://www.esopassociation.org/Connect With Matt DiFrancesco:matt@highliftfin.com(814)201-5855LinkedIn: Matt DiFrancescoLinkedIn: High Lift FinancialFacebook: High Lift Financial Instagram: @high_lift_financialYoutube: @highliftfinancialAbout the guest:Kelly Finnell is widely regarded as the nation's premier ESOP consultant, with over 40 years of experience helping business owners design and implement Employee Stock Ownership Plans. He has presented at more than 300 conferences across the U.S. and internationally, sharing his deep expertise in ESOP strategy and succession planning.Kelly is the author of The ESOP Coach: Using ESOPs in Ownership Succession Planning, published in 2010—a definitive guide that continues to be a go-to resource in the field today. He is also an Accredited Investment Fiduciary®, a designation awarded through the Center for Fiduciary Studies at the University of Pittsburgh, demonstrating his commitment to always acting in the best interest of his clients.A magna cum laude graduate of the University of Memphis, Kelly brings both academic rigor and decades of hands-on experience to every engagement. If you're considering an ESOP for your business, Kelly is truly the guy you want in your corner.Disclaimer:All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.

Planning for life after shop ownership is something many independent collision shop owners overlook—until they're already in the process of selling. But without a clear vision, the transition can be overwhelming and leave former owners wondering, “What's next?”In this episode, Matt DiFrancesco shares insights from the Northeast Conference, where he and Laura Gay led a discussion on preparing for life beyond the shop. They addressed common concerns from shop owners, including burnout, the challenges of third-party sales, and the uncertainty of what comes after stepping away from the business.Join Matt as he shares key takeaways from the event, explores the questions that resonated most with attendees, and guides shop owners on designing a fulfilling and purposeful post-shop life.Matt also talks about:(01:50) Why most shop owners fail to design their post-shop life(02:25) The importance of having a post-shop vision before you sell(03:00) The power of planning your exit the right way(04:09) The first step in planning(05:06) Life after the sale: What comes next?Connect With Matt DiFrancesco:matt@highliftfin.com(814)201-5855LinkedIn: Matt DiFrancescoLinkedIn: High Lift FinancialFacebook: High Lift Financial Instagram: @high_lift_financialYouTube: @highliftfinancialDisclaimer:All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategies discussed here.High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC.  Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.

Attracting and retaining talent is a persistent challenge in the collision repair industry, and industry engagement plays a critical role in overcoming this issue.The struggle to find skilled technicians and support technical education programs leaves many shop owners feeling overwhelmed and unsure of how to bridge the workforce gap. Without a steady pipeline of trained professionals, the industry's future is at risk.Join Matt Di Francesco and Brandon Eckenrode, Executive Director of the Collision Repair Education Foundation (CREF), as they discuss the power of local industry involvement, offering practical strategies for shop owners to mentor students and secure a sustainable future for the collision repair industry.Matt and Brandon also talk about:(01:54) Why is finding talent in the collision repair industry such a challenge?(03:14) The crucial role of combining iCAR and ASE training with ADAS advancements(05:21) How can we shift the negative perception of being a “grease monkey”?(07:06) What initiatives is CREF taking to tackle the talent shortage(08:47) How CREF recruits students and connects them with shops after graduation(10:53) How can shop owners engage with local schools to attract talent?(14:35) Can young hires' fresh ideas create a mutually beneficial learning environment?(17:35) How can educators, industry leaders, and recruiters collaborate to attract your techs?(19:07) What's the best way for a shop owner to get involved in supporting new talent?Connect With Brandon EckenrodeLinkedIn: https://www.linkedin.com/in/brandon-eckenrode-9b51107/Email: brandon.eckenrode@i-car.comWebsite: https://collisionrepaireducationfoundation.org/Connect With Matt DiFrancesco:matt@highliftfin.com(814)201-5855LinkedIn: Matt DiFrancescoLinkedIn: High Lift FinancialFacebook: High Lift Financial Instagram: @high_lift_financialYoutube: @highliftfinancialAbout the guest:Brandon Eckenrode began his career in 2002 with I-CAR's marketing department before joining CREF in 2009. Since then, he has been dedicated to supporting collision programs at high schools and colleges across the U.S., helping to train and develop the next generation of technicians.As Executive Director, Brandon is committed to promoting the collision repair industry as a viable career path and addressing the workforce shortage by attracting new talent. Under his leadership, CREF is focused on strengthening educational initiatives and ensuring a sustainable future for the industry. Brandon is a familiar face at industry events and shows, where he actively engages with stakeholders to advance CREF's mission.Disclaimer:All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC.  Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.

Managing costs and staying profitable is a constant challenge for independent collision shop owners, and education plays a crucial role in overcoming these hurdles. In this episode, John Shoemaker shares his passion for helping shop owners educate themselves and their customers about the value of their services—ensuring they are properly compensated for their work.With years of experience in business development. John has helped many shops refine their processes and improve their bottom line. He understands the importance of accurate invoicing, validating costs, proper documentation, and building strong relationships with claims adjusters.Join Matt DiFrancesco and John Shoemaker, AMAM, Business Development Manager - BASF Automotive Refinishes North America, as they explore the power of education in the collision industry, offering practical advice on how shop owners can stay ahead, maximize efficiency, and confidently communicate their value to customers.Matt and John also talk about:(05:38) Why do shop owners struggle with charging through invoices?(08:52) The two towers in the insurance world(11:53) Why proper documentation is the key to success(13:25) Should shop owners invest in sales training for their staff?(16:27) The benefits of finding your niche(18:43)  Why owners should start educating their customers on what sets their shop apart(24:17) How to develop better relationships with different claims managers(28:33) Where can shop owners learn to improve documentation, billing, and repair planning?(30:29) Why shop owners should invest in personal development(33:30) What is appraisal burnout?(35:51) The power of paying it forward in the industryConnect With John ShoemakerLinkedIn: https://www.linkedin.com/in/john-shoemaker-amam-a0800020/Email: john.a.shoemaker@basf.comPhone: 7574357118 (Mobile)Connect With Matt DiFrancesco:matt@highliftfin.com(814)201-5855LinkedIn: Matt DiFrancescoLinkedIn: High Lift FinancialFacebook: High Lift Financial Instagram: @high_lift_financialYoutube: @highliftfinancialAbout the guest:John Shoemaker is the Business Development Manager for BASF Automotive Refinish Coatings - North America and has been in the automotive repair industry since 1973. His career began as a helper in a small body shop in California before serving in the U.S. Air Force as a technician, vehicle maintenance manager, accident investigator, technical instructor, and management system analyst. After returning to the civilian sector, he managed several dealership collision centers, served as a dealership service director, and founded JSE Consulting, where he provided training in damage analysis, marketing, lean implementation, and collision center management. John has contributed to industry advancements by assisting CCC Information Services in developing the Production Assistant system and working with DuPont Performance Coatings to validate data connector needs. He holds an Accredited Master Automotive Manager certification and has presented training programs at SEMA, NACE, AASP/NJ Northeast, and other industry events.Disclaimer:All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC.  Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.

As we enter the new year, many repair shop owners are focused on setting growth and success goals; one challenge remains at the forefront: finding and retaining talent.  It's an issue facing nearly everyone in the industry, which makes today's guest, Stan Russell, the perfect person to kick off the year.  With decades of experience as a technician, educator, and mentor, Stan has made it his mission to develop solutions that benefit both shop owners and young technicians. His passion for cars has driven him to create impactful apprentice programs that teach essential skills, including business and financial literacy.  Join Matt DiFrancesco and Stan Russell, Director of Training and Apprentice Development at CollisionRight,  as they share their insights on building strong teams, setting realistic goals, and shaping the future of the industry through mentorship and education. Matt and Stan also talk about: (03:17) What needs to change to attract young talent into the collision repair industry? (04:49) Why teaching the business perspective is crucial for training young technicians (07:39) An advice to help young people future-proof their careers in collision repair (12:38) Why rapid technician training programs are setting up the industry for failure (14:04) How can experienced technicians help secure the future of the industry (15:53) The challenges educators face when running high school automotive programs (19:57) Why a college degree is no longer the only path to career success (22:56) Why is training the right person to run your business worth the investment? (23:53) How can independent shop owners find and attract trained young talent? Connect With Stan Russell LinkedIn: https://www.linkedin.com/in/stan-russell-08246326/ Website: https://collisionright.com/ Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial About the guest: Stan Russell began his journey in the collision repair industry in 1984 as an apprentice technician after graduating from Lincoln County High School in Fayetteville, Tennessee. His entrepreneurial spirit soon led him to launch his own repair shop in 1989, marking the start of a dynamic and influential career. One of his most groundbreaking contributions came in 2015 when he became the pilot instructor for the Service King Start Program. This innovative initiative, the first industry-funded collision repair program in the U.S., was based in high schools, introducing young people to the opportunities available in the trade. In the fall of 2023, Stan joined CollisionRight, a regional MSO headquartered in Dublin, Ohio, where he now leads the design and implementation of their Right Start Apprentice Programs. His mission is clear: to make a lasting positive impact on the industry and the next generation. Stan is passionate about highlighting the specialized nature and financial potential of careers in collision repair. He aims to shift perceptions—whether among young people or shop owners—about the lucrative and rewarding opportunities this industry offers. Disclaimer: All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here. High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC.  Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.

Welcome to this third and final installment of our educational series on structuring business for tax efficiencies.  In the previous sessions, we covered the complexities of C Corporations, including their benefits, drawbacks, and scenarios where they might be appropriate. In this episode, Matt and Stuart Sorkin, a seasoned attorney, CPA, and founder of Business and Legal Advisors, LLC, focus on Buy-Sel Agreements highlighting their importance and addressing common misconceptions. This topic is especially beneficial for business owners working with partners, employees, or family members who are shareholders as they learn a few practical strategies to help protect against unexpected events that could shake up ownership or create challenges for the business. Matt and Stuart also talk about: (01.29) Is succession planning the antithesis of a business owner's strengths? (02:03) What is the Monte Carlo Analysis? (04:41) The question that will help you define your true business value (12:45) Why should business owners have Buy-Sell Agreements? (15:54) Why Stuart is a big proponent of always having a reverse offer (22:55) The agreement that Stuart missed which led to 7 years of litigation (29:51) Two types of insurance business owners must always consider (31:14) The issue with third-party financing (33:12) The one requirement to ensure growth and maximize the value of your business (33:58) Why it is crucial to build a team to help plan for your business's future Connect With Stuart Sorkin Website: https://businessandlegaladvisors.com/ Personal Website: https://stuartsorkin.com/ Phone: (301) 320-1152 Email: info@businessandlegaladvisors.com LinkedIn: https://www.linkedin.com/in/stuart-sorkin-84a528/ Schedule a call with Stuart: https://calendly.com/stuart-sorkin Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial About the guest: Stuart H. Sorkin is the founder of Business and Legal Advisors, a firm that assists small and mid-size businesses with growth strategies.  With over 40 years of experience as an entrepreneur, CPA, and attorney, he specializes in business entity formation, mergers and acquisitions, tax and estate planning, and asset protection.  He co-authored Expensive Mistakes When Buying & Selling Companies…and How to Avoid Them in Your Deals and has been featured in publications like the Wall Street Journal and USA Today.  Stuart also serves on the Board of Trustees for the Jack R. Anderson Charitable Foundation. He holds a B.S.B.A. in Accounting and Finance, a law degree, and an LL.M. in taxation. Disclaimer: All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here. High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.

Welcome back to part two of our special three-part educational series, where we continue exploring how business owners can optimize their structures for long-term success. While tax rates were covered in the previous episode, this conversation takes a closer look at other crucial factors that impact business owners, such as transfer strategies, control, and long-term financial planning. In this session, Matt is again joined by Stuart Sorkin, a seasoned attorney, CPA, and founder of Business and Legal Advisors, LLC, to dive deeper into the key differences between C Corps, S Corps, and LLCs. They also break down how the right entity structure can not only reduce tax liability but also provide shop owners with the flexibility to step back from day-to-day operations while ensuring future growth and stability. Matt and Stuart also talk about: (01.09) A big problem in raising investor capital with S-Corps (03:08) What is a non-qualified deferred compensation plan? (07:24) How strategic tax and equity planning can protect your business and key talent (11:49) The role of a strong partnership agreement (16:18) How to transition ownership while staying in control of the business (21:13) Key considerations for different stock classes (23:51) How employee agreements can protect your deal and boost valuation (28:45) How to turn key employees into owners without breaking the bank (31:42) How a holding company structure unlocks growth and employee equity (33:11) Why your CPA or attorney may not recommend a C-Corp Connect With Stuart Sorkin Website: https://businessandlegaladvisors.com/ Personal Website: https://stuartsorkin.com/ Phone: (301) 320-1152 Email: info@businessandlegaladvisors.com LinkedIn: https://www.linkedin.com/in/stuart-sorkin-84a528/ Schedule a call with Stuart: https://calendly.com/stuart-sorkin Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial About the guest: Stuart Sorkin brings over 40 years of experience as an angel investor, entrepreneur, CPA, and attorney, specializing in assisting business owners with growth and exit strategies.  In 2018, he founded The Business and Legal Advisors, a consulting firm focused on the financial and legal protection of business owners, executives, and entrepreneurs.  He has expertise in areas such as business entity formation, mergers and acquisitions, tax planning, succession planning, and estate planning.  Stuart is the co-author of Expensive Mistakes When Buying & Selling Companies...and How to Avoid Them in Your Deals and has spoken at various professional groups on exit strategies and asset protection.  He has been featured in top media outlets, including the Wall Street Journal and USA Today, for his insights on tax-related matters. Disclaimer: All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here. High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.

Welcome to a special three-part educational series designed to help business owners rethink their roles and structures for long-term success.  Many shop owners today, especially younger ones, aren't ready to transition out entirely but want their businesses to thrive without being dependent on their day-to-day involvement.  This series will explore key strategies to achieve that goal, starting with how the right business structure can minimize tax liability, enhance transfer options, and allow owners to maintain control while stepping back operationally.  In this first session, Matt is joined by Stuart Sorkin, a seasoned attorney, CPA, and founder of Business and Legal Advisors, LLC,  to talk about the impact of entity types on ownership goals and discuss the recent tax law updates and their implications, offering practical insights for shop owners looking to future-proof their businesses. Matt and Stuart also talk about: (04:00) Why body shop owners should rethink tax planning before 2026 (06:12) When is the right time to start planning your exit strategy? (06:47) How structuring your sale can save you in taxes (09:10) The benefits of the different business structures (17:15) Why most investors don't like S-Corps (30:11) What S-Corps can do to fund big purchases without draining cash (32:24) How smart tax planning can keep you profitable without crossing the line (34:01) Why it is crucial to know who you are selling to (35:48) The importance of planning early (37:05) What is the built-in gains tax? Connect With Stuart Sorkin Website: https://businessandlegaladvisors.com/ Personal Website: https://stuartsorkin.com/ Phone: (301) 320-1152 Email: info@businessandlegaladvisors.com LinkedIn: https://www.linkedin.com/in/stuart-sorkin-84a528/ Schedule a call with Stuart: https://calendly.com/stuart-sorkin Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial About the guest: Stuart Sorkin is an attorney, CPA, and founder of Business and Legal Advisors, a consulting firm specializing in strategic business transfers.  With extensive experience in the collision industry, Stuart provides invaluable guidance to shop owners navigating complex transactions.  He is also the author of Expensive Mistakes When Buying and Selling Companies, a must-read book outlining common pitfalls in business sales.  Stuart's expertise helps business owners avoid costly errors and make informed decisions.  Disclaimer: All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here. High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.

Welcome to a very special episode of Your Business, Your Life!! Today, we're celebrating an incredible milestone—our 100th episode!  Four and a half years ago, Matt Di Francesco launched this podcast with one goal: to help business owners align their lives and businesses to create generational wealth. In this episode, Matt reflects on the journey, sharing the lessons learned and the impact created along the way. He expresses heartfelt gratitude to everyone who made this milestone possible.  He also outlines his plans to continue delivering value through the podcast, including exciting new initiatives and content. Matt talks about: (00:45) How the Your Business your Life podcast started (05:50) Why surrounding yourself with smarter people is a game-changer (06:54) Exciting plans for Your Business, Your Life in 2025 (11:53) Matt's ultimate goal for the future Have a topic or question you'd like Matt to cover? We'd love to hear from you! Whether it's about financial planning, exit strategies, or value building, feel free to share your suggestions or comments. Just send an email to podcast@highliftfin.com, and we'll be happy to address them in future episodes.  Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial Disclaimer: All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here. High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.

To exit your business on your own terms and fund your ideal post-business life, increasing its value is essential. One powerful way to achieve this is by adopting Environmental, Social, and Governance (ESG) practices. Unfortunately, many collision shop owners are unaware of how ESG practices can significantly impact their business's value, leading to missed opportunities for growth, profitability, and a stronger market position. Join Matt DiFrancesco and Eddie Hightower, Senior Vice President of Sustainability and Social Responsibility at Caliber Collision, as they dive into how Environmental, Social, and Governance (ESG) practices can drive long-term business growth, enhance business reputation, attract valuable talent, and ultimately boost the overall value of your shop. Matt and Eddie also talk about: (03:44) The three components of sustainability (04:56) Why most shops score poorly on the ESG criteria (09:45) The importance of reputation (11:53) One of the biggest challenges in guiding shop owners in preparing for a third-party sale (15:23) What Caliber Collision looks for when buying a shop (17:03) How Caliber Collision's Technician Apprentice Program (TAP) works (21:56) Why doing the right thing with ESG lifts the entire collision repair industry (28:28) Why shop owners should embrace sustainability practices and tell their story Connect With Eddie Hightower Website: https://www.caliber.com/services/collision LinkedIn: https://www.linkedin.com/in/eddiehightower/ Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial About the guest: Eddie Hightower, who joined Caliber in 2015, brings a diverse background spanning legal and HR leadership roles across both private and public companies.  An attorney by trade, Eddie earned his BA from the University of Denver and his JD from the University of Miami School of Law, remaining an active member of the Florida and DC bars.  His unique perspective on sustainability and social responsibility aligns with his experience in human resources—an area often overlooked by collision shop owners.  Eddie also serves as an adjunct professor at the University of Tampa and, outside of work, enjoys the gym, reading, and volunteering for Operation Kindness, a local pet rescue organization. Disclaimer: All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here. Investment advisory services from High Lift Financial are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.

The collision repair industry is growing quickly, with more private equity and buyers showing interest. This creates a great opportunity for shop owners to take advantage of the booming market. However, selling a shop can be complicated, and owners who focus on increasing their shop's value and getting professional help will have the best chance to maximize their profits. Join Matt DiFrancesco and Laura Gay, Owner and Consultant at Consolidation Coach, as they discuss the rising demand for consolidation in the collision industry, the importance of professional guidance in sales to maximize returns, and their insights on what the future market may hold. Matt and Laura also talk about: (02:28) What is Collision Classifieds? (04:36) The current state of the consolidation market (07:18) The different tier classifications of buyers (10:40) Why shop owners should seek professional help when selling their shops (15:03) What shop owners need to understand about the tax implications of a sale (17:02) What C-Corporations need to prepare for (20:12) What the collision repair market will look like in 5 years (23:59) Why shops need to increase their free cash flow now (25:38) How a shop's dependence on its owner affects its value (29:22) Why shop owners should join the Collision Cocktail Hour Connect With Laura Gay Website: https://consolidationcoach.com/ LinkedIn: https://www.linkedin.com/in/laura-gay-b5b576156/ Email:laura@consolidationcoach.com Phone: 301.399.8675 Book a consultation call: https://consolidationcoach.com/contact/ Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial Tune in to The Collision Cocktail Hour! Join Matt and Laura, along with Micki Woods, Barrett Smith, Clay Hoberecht, and Rick Selover, for the Collision Cocktail Hour, held every third Wednesday of the month at 8 PM Eastern. This open forum offers a valuable opportunity for shop owners to discuss real-world challenges and solutions with their peers, and everyone is welcome to participate! REGISTER HERE → https://collisioncocktailhour.com/ About the guest: Laura Gay, a former small MSO shop owner, was approached by aggressive consolidators to sell her shops in 2014. Feeling lost, she took time to learn about the auto body shop Mergers and Acquisitions process, realizing the importance of getting it right when selling.  In 2015, she successfully sold her shops and retired at 42. After helping friends through the selling process, she was encouraged to start a business, leading to the creation of Consolidation Coach, a leading M&A firm for shop owners today.  Outside of work, Laura enjoys drag racing, NASCAR, and spending time with her dogs, Mopsie, Oscar, Stagger, and Miss Pearl. Disclaimer: All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here. Investment advisory services from High Lift Financial are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.

Many collision shop owners struggle with managing project backlogs and inefficiencies due to outdated or disjointed software systems, leading to delays, increased manual workloads, and difficulty in tracking key tasks.  These issues not only slow down operations but also prevent shops from maximizing their productivity and retaining top talent.  Join Matt DiFrancesco and Phillip Brown, Principal Consultant / President at Blu Pitt Inc., as they discuss the importance of streamlining processes and the benefits of automation in the collision industry. Matt and Phillip also talk about: (02:12) What led Phillip to help businesses streamline project management processes (04:25) How can collision shops gain better control over their workflows (04:51) What strategies can shop owners implement to save time on OEM research and ensure accurate repairs (14:43) How Blu Pitt helps businesses operate more efficiently. (18:15) What benefits do automation and streamlined processes provide for retaining top talent (21:22) How Blu Pitt helped Harley-Davidson streamline their processes (26:23) Why collision shop owners should never underestimate the power of streamlining and automating processes Connect With Phillip Brown Website: https://www.blupitt.com/home LinkedIn: https://www.linkedin.com/in/phillipjbrown/ Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial About the guest: Phillip is an experienced software engineer who has spent years working with computers and programming.  His journey began when he learned about project management software, which revealed to him that many companies relied on Excel spreadsheets and disconnected tools to manage their projects.  Recognizing the potential for improvement, he utilized his programming skills to create integrated systems that automated processes and provided a comprehensive view of project management for owners and CEOs.  This experience motivated him to start his own business, where he assists companies in refining their processes through software integration, consolidation, and sometimes transitioning to more advanced solutions. Phillip is on a mission to help 10,000 businesses perfect their project management to give them more organization, better ROI, and retain their high performers by 2033. Disclaimer: DiFrancesco Financial Concierge, LLC, d/b/a High Lift Financial, is a Pennsylvania-registered investment advisor and may conduct investment advisory services in states where it is registered, exempt, or excluded from registration. The content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed.  Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.

Finding skilled talent in the collision repair industry has become increasingly difficult due to a shortage of experienced technicians and a lack of new entrants into the field.  As the industry evolves with advancements in technology and repair techniques, shops struggle to attract candidates who possess both the technical skills and adaptability needed for modern repairs.  Join Matt DiFrancesco and Diane Benting, President at BodyShopJobs, as they discuss the challenges and solutions for the collision repair industry, particularly in finding and retaining talent.  Matt and Diane also talk about: (01:55) How BodyShopJobs started (02:53) The biggest mistake shop owners make when acquiring talent (04:51) The mindset shift that needs to happen in the industry (06:49) Why shop owners should look to the untapped talent of women in the industry (10:17) Hiring for culture over skillset in collision repair (14:16) The value of continuous training (16:53) What shop owners can do to empower the next generation of talents Connect With Diane Benting Website: https://bodyshopjobs.com/ LinkedIn: https://www.linkedin.com/in/dmbenting/ Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial About the guest: Diane Benting is the president and founder of BodyShopJobs, a dedicated job board for the collision repair industry.  With 16 years of experience in the industry, Diane has deep knowledge of the sector, having worked in various marketing roles at a prominent regional paint jobber before launching her own venture.  She is highly involved in the collision repair community, leveraging her extensive industry expertise to connect businesses with qualified talent. Disclaimer: DiFrancesco Financial Concierge, LLC, d/b/a High Lift Financial, is a Pennsylvania-registered investment advisor and may conduct investment advisory services in states where it is registered, exempt, or excluded from registration. The content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed.  Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.

Collision shop owners, are you truly maximizing the value of your business?  Matt Di Francesco dives deep into this question. He shares eye-opening anecdotes on how simple actions, like answering the phone with empathy or regularly updating customers, can make a significant impact.  Whether it's improving communication, enhancing digital marketing efforts, or planning for employee retention, Matt provides actionable insights to help shop owners build a thriving business. In this episode, we're wrapping up a special three-part series recorded live at the Wreck Week conference last June. Join Matt as he concludes this insightful journey, diving into the key strategies for building value in your collision shop. Matt also talks about: (01:00) How can shop owners enhance customer service (04:40) Why digital marketing is a must for collision shops (07:11) The importance of educating customers on their rights (09:24) The different types of incentives to offer your employees (11:18) Why shops must always have a performance matrix (15:32) The value of having a good tax planning attorney (15:43) Why having properly structured retirement plans is crucial (18:56) The advantages of having a CRM for your business (20:10) The best investment you can make (21:48) Why Employment Agreements are crucial for your key employees (23:51) The people involved in guiding owners through the exit process (24:52) Matt's value proposition Connect with Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial Disclaimer: DiFrancesco Financial Concierge, LLC, d/b/a High Lift Financial, is a Pennsylvania-registered investment advisor and may conduct investment advisory services in states where it is registered, exempt, or excluded from registration. The content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed.  Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.

Have you ever wondered how to truly build and enhance the value of your collision shop? Building your business's value can be a complex process due to various factors. It involves understanding and adapting to market dynamics, managing finances effectively, streamlining operations, maintaining customer satisfaction and so much more.  Fortunately, with the right strategies and tools, you can simplify these complexities and maximize your business's value, paving the way for a successful exit. At the Wreck Week Conference last June, Matt DiFrancesco broke down this complex process into a three-step journey for collision shop owners.  Join Matt in the second installment of his three-part series, where he explores the concept of using a GPS approach to build business value and explains why having a business continuity plan is crucial for all entrepreneurs. Matt also talks about: (00:30) The first step in building value in your business (03:11) What Matt loves about the collision industry (03:53) How to assess your starting point (04:38) Two ways to close your value gap (05:48) What is business continuity? (06:56) Four areas to consider when putting together a business continuity plan (08:57) The importance of having a Buy-Sell Agreement (11:02) The problem with “cookie-cutter” valuations (12:18) How often should agreement and other documents be reviewed? (17:07) Why stay bonus plans are great for key employee retention  (22:28) The benefits of choosing a C-Corp structure Connect with Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial Disclaimer: DiFrancesco Financial Concierge, LLC, d/b/a High Lift Financial, is a Pennsylvania-registered investment advisor and may conduct investment advisory services in states where it is registered, exempt, or excluded from registration. The content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed.  Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.

Are you a business owner struggling to balance the demands of family dynamics with achieving business success? The majority of businesses are family-owned or operated. Often, multiple family members are involved in running these businesses, leading to unique and interesting dynamics. Understanding these dynamics is crucial for business owners to strengthen the business, rebuild leadership, and boost productivity within their companies. Join Matt DiFrancesco and Pete Walsh, Family Business Advisor & Master Coach, as they discuss the challenges that family businesses face and share personal stories of navigating conflicts, setting expectations, and developing leadership within the family business.  Matt and Pete talk about: (02:32) Why the concept of leadership today is trickier than ever (06:36) Why family businesses must understand that a business has a lifecycle  (07:27) The common factor among the fastest-growing shops (08:09) What are some of the biggest challenges that family businesses face? (10:34) How to create a unified family vision when dealing with diverse personalities (10:50) The advantage of having objective feedback from outside the family business (12:23) Why conflicts are completely normal (14:14) Strategies for parents to help deal with entitlement among their children (21:11) How the Family Business Coaching System works (28:19) Pete's value proposition (29:30) The one mistake most business owners make (32:22) The benefits of having the children work someplace else before  they go into their family business Connect With Pete Walsh Website: https://familybusinessperformance.com/ LinkedIn: https://www.linkedin.com/in/pete-walsh/ Get access to Tools and Proven Strategies that will help your family business thrive and succeed - for FREE! Visit https://familybusinessperformance.com/ Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial About the guest: Pete Walsh is a seasoned family business consultant with over 16 years of hands-on experience in his own family business.  In 1997, he founded the Peak Workout Business Coaching System, and in 2013, he established the Family Business Performance Center.  His goal is to support family businesses by offering his proven practices online for free, helping them strengthen and grow. Pete also provides personal coaching to select clients.  He has been happily married for 35 years and is the proud father of two successful adult children. Disclaimer: DiFrancesco Financial Concierge, LLC, d/b/a High Lift Financial, is a Pennsylvania-registered investment advisor and may conduct investment advisory services in states where it is registered, exempt, or excluded from registration. The content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed.  Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.

Last June, WreckWeek 2024 brought together professionals from road clearance, collision repair, and auto repair for a comprehensive expo where attendees could network, participate in workshops, and explore the latest advancements and technologies in accident management and vehicle repair. Matt DiFrancesco was invited to host an educational session at this event. In it, he emphasizes the importance of strategic planning for collision shop owners to enhance their business value and ensure a smooth and profitable exit when the time comes. Join Matt in the first of this three-part series, where he talks about the importance of building value in collision shops and businesses, planning for the end game, identifying exit plans, and considering factors beyond revenue and profitability. Matt also talks about: (03:15) The 5-year revolving plan (04:06) Preparing your business for the lifestyle you desire (06:10) Why a business's value does not have a fixed formula (07:21) The difference between an essential owner and an incidental owner (10:19) The benefits of becoming an incidental owner (11:52) Why is it important to build value in your shop? (15:11) An underutilized talent in the collision industry (17:10) The value of preserving the legacy and reputation of your business Connect with Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial Disclaimer: DiFrancesco Financial Concierge, LLC, d/b/a High Lift Financial, is a Pennsylvania-registered investment advisor and may conduct investment advisory services in states where it is registered, exempt, or excluded from registration. The content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed.  Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.

Have you ever considered how your physical, emotional, and mental health impact your leadership abilities and business success? When we talk about leadership, we often think of styles and techniques, rarely considering how our overall well-being ties into our effectiveness.  But what most people don't realize is that the health of the leader, the team, and the business are deeply interconnected. The decisions you make as a leader not only determine your company's success but also impact the well-being of your team and your own health, right down to your DNA. Join Matt DiFrancesco and Luci Gabel, Executive Integrative Leadership Coach & Trainer, as they discuss the profound influence of proper nutrition and rest on cognitive, emotional, and physical well-being, emphasizing how crucial it is for leaders to prioritize self-care. Matt and Luci talk about: (04:25) How nutrition and physical health directly affect one's leadership abilities (08:00) The impact of DNA health on aging and wellness (09:38) How sleep can either be beneficial or highly detrimental (10:50) Strategies leaders can adopt to combat sleep difficulties  (13:20) The importance of walking away from your desk every so often (14:31) How does nutrition impact physical, mental, and emotional well-being? (15:21) What the book "Eat to Lead" is all about (22:15) Luci's current flagship program (23:07) How to overcome the loneliness of leadership (25:01) The best way to reach any goal in terms of lifestyle change Connect With Luci Gabel Website: https://www.lucigabel.com/ LinkedIn: https://www.linkedin.com/in/lucigabel/ Get a copy of Luci's book, Eat to Lead https://www.eattolead.com/ Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial About the guest: With over 25 years in leadership roles, primarily in five-star white glove spas and health clubs, Luci Gabel has honed a unique blend of business and health expertise.  Throughout her career, she has worked with individuals, groups, and teams to improve physical health, whether it be through weight loss, enhancing athletic performance, or reducing serious illnesses.  Having lived in major cities around the world, Luci brings a global perspective to her work. Educated in health with a pre-med background and lifelong exercise professional certifications, she deeply understands the interconnectedness of leadership, team well-being, and business success. Disclaimer: DiFrancesco Financial Concierge, LLC, d/b/a High Lift Financial, is a Pennsylvania-registered investment advisor and may conduct investment advisory services in states where it is registered, exempt, or excluded from registration. The content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed.  Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.

Are you feeling the pressure of consolidation in the collision repair industry?  In these challenging times, independent shop owners face mounting fears as larger franchises and MSOs dominate the market.  For those who want to maintain their independence and identity while gaining the perks of a larger franchise model, joining a supportive network can provide a much-needed lifeline. Join Matt DiFrancesco with guests, John Hollingsworth and Kristle Bollans from CSN Collision as they discuss the challenges faced by independent shops today and how joining a supportive network can empower them to gain a competitive advantage in the collision repair industry Matt, John, and Kristle also talk about: (01:49) How CSN Collision helps support independent shops (09:54) Why women make wonderful technicians (14:06) Why the industry needs to shift its mentality on what a technician does (15:36) The importance of keeping up with industry trends (18:14) The ideal shop that CSN is looking for (21:17) Why the industry needs to focus on educating its customers (23:48) How CSN Collision is helping improve the collision repair experience (30:28) An advice to independent shop owners  Connect With CSN Collision Website: https://csncollision.com/en/ LinkedIn: https://www.linkedin.com/company/csncollisionusa/ Instagram: https://www.instagram.com/csncollisionusa/ Email: feedback@csncollision.com Phone: 1-866-400-4276 John Hollingsworth - https://www.linkedin.com/in/john-hollingsworth-53a44b51/ Kristle Bollans - https://www.linkedin.com/in/kbollans/ Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial About the guests: John Hollingsworth is the Director of Business Development at CSN Collision USA. His dedication to mentorship and leadership has inspired countless individuals to strive for greatness. With a remarkable ability to foster genuine connections and tackle challenges with positivity and grace, John is an invaluable asset to any organization, embodying the qualities of a true leader and team player. Kristle Bollans is the National Sales Director at CSN Collision USA.  With over two decades of expertise in sales and management within the mobility and hospitality sectors, she has consistently achieved success by improving efficiency and elevating customer satisfaction.  Kristle is also on the Board of Directors and serves as Chairman of the Industrial Relations Committee for the Women's Industry Network.  Disclaimer: DiFrancesco Financial Concierge, LLC, d/b/a High Lift Financial, is a Pennsylvania-registered investment advisor and may conduct investment advisory services in states where it is registered, exempt, or excluded from registration. The content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed.  Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.

Collision shop owners need to plan their exit strategy early. One crucial part is choosing who to entrust the business to once they leave it. Often, shop owners need to learn or underestimate the potential of key employees to fill this role and would instead lean towards a third-party sale. However, if they only take a closer look, whether it's a family member or a trusted employee, these people can do the job just as well. In this episode, Matt talks about identifying successors for your collision shop business, what qualities to seek in them, and what support you can provide to help them flourish in their new roles. Matt also talks about: (01:59) The key traits to look for in potential successors for the business (03:15) A tool to help identify successors (04:00) Why it's important to give yourself time to plan your business exit (05:19) The value of cross-training your employees (06:14) The crucial role of personal development Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial Instagram: @high_lift_financial Youtube: @highliftfinancial DISCLAIMER: DiFrancesco Financial Concierge, LLC, d/b/a High Lift Financial is a Pennsylvania-registered investment advisor and may conduct investment advisory services in states where it is registered, exempt, or excluded from registration. Content provided herein or on our website should not be construed as an offer for investment advice or securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.

Have you ever considered how the dynamics between spouses can influence the success of a family business?  Whether directly involved or not, understanding each spouse's impact on the business is crucial for harmony and prosperity. In this episode, Matt DiFrancesco discusses the critical role of spousal involvement in business planning and transition. He also shares personal stories from his consulting experience, highlighting the benefits and challenges of aligning spouses in life and business. Matt also talks about: (01:20) How inclusive discussions can help resolve conflicts in family businesses  (03:15) The impact of business decisions on personal life (04:21) How involving the spouse in business planning creates more unity in the family (05:05) The importance of aligning spouses with their personal vision (06:53) The benefits of external mediation in family businesses Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial DiFrancesco Financial Concierge, LLC, d/b/a High Lift Financial is a Pennsylvania-registered Investment Advisor and may conduct investment advisory services in states where it is registered, exempt, or excluded from registration.  The content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products.  Investments involve the risk of loss and are not guaranteed.  Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.

One of the main marketing goals for businesses is to generate revenue by attracting customers and establishing a competitive advantage. Both of these are vital elements for collision repair businesses to succeed. Yet, for many collision repair shop owners, marketing often takes a backseat, seen more as an expense than a strategic investment. According to the 2021 BodyShop Business Industry Profile, more than half (55%) of collision repair shops spend less than $5,000 on marketing each year.  So the question remains: is marketing merely a cost to be minimized, or could it be the key to driving growth, profitability, and enhancing the value of your collision repair business?   Join Matt DiFrancesco and Micki Woods, an Auto Collision Industry Marketing Specialist and podcast Host, as they discuss the value of marketing and what it can do for your collision repair business when done properly. Matt and Micki talk about: (06:43) Why marketing is like building rapport with your customers (09:02) The lowest-hanging fruit for shop owners to try when it comes to marketing (14:16) How much money should collision shops spend on marketing? (21:55) The value of having an outside perspective (24:25) What can shop owners do to get out of the “marketing is just an expense” mindset? (27:03) How marketing helps shops build the value of their business (28:32) The best time to start a marketing strategy for your collision shop Connect With Micki Woods Website: https://mickiwoods.com/ LinkedIn: https://www.linkedin.com/in/micki-woods-36374121/ Facebook: https://www.facebook.com/MickiWoodsMarketing/ Spotify: https://open.spotify.com/show/6pdC9gvLPFdrQNof4LtwlA?si=Mdpd1QTZR0ypq4Ju4jkKwg&nd=1&dlsi=2c38fcc8b1504cc8 Youtube: @mickiwoodsmarketing7984 Email: micki@mickiwoods.com Phone: 805.857.6310 Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial About the Guest: Mickey Woods is an experienced marketing and growth strategy specialist with a focus on the collision industry. Having previously owned a shop herself, Mickey understands the challenges that shop owners encounter. Leveraging her extensive experience, she is dedicated to helping them accelerate their business growth.  Mickey is known for her dynamic marketing approach, consistently driving results through innovative strategies tailored to the collision repair sector. In addition to her consultancy work, Mickey co-hosts the Collision Cocktail Hour, a monthly gathering that attracts 35 to 60 shop owners seeking insights into different issues concerning the collision industry, such as business expansion and value building.  She is also the host of the Body Bangin' Podcast, where she shares her expertise and engages with industry leaders to inspire innovation and success. As a respected writer and contributor to Body Shop Business, Mickey continues to make significant contributions to the collision repair community through her thought leadership and unwavering commitment to excellence. Disclaimer: DiFrancesco Financial Concierge, LLC, d/b/a High Lift Financial, is a Pennsylvania-registered investment advisor and may conduct investment advisory services in states where it is registered, exempt, or excluded from registration. The content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products.  Investments involve the risk of loss and are not guaranteed.  Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.

Building value for your collision repair business requires more than acquiring state-of-the-art equipment and cutting-edge technology.  A dedicated and skilled team of employees is one of the key elements that can set your collision shop apart.  And to thrive in the future, shop owners must focus on retaining these valuable team members. Also, there are personal considerations that every shop owner must consider when it comes to building value in their shop, such as having a business continuity plan. Fortunately, there are various financial vehicles available that you can use to help achieve these goals and enhance the overall value of your business. In this episode, Matt DiFrancesco discusses the different aspects of building a shop's value, such as employee retention and personal considerations, and explores how various financial vehicles can help shop owners boost the value of their business and steer it toward long-term success. Matt also talks about: (01:42) The importance of competitive compensation (02:59) Why most shops don't have retirement plans for their employees (03:32) Simple IRA vs. 401K (03:53) The benefits of having a profit-sharing plan (04:21) Why shop owners need to identify key employees who are vital to the business  (06:44) What is a business continuity plan? Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial DiFrancesco Financial Concierge, LLC d/b/a High Lift Financial is a Pennsylvania-registered Investment Advisor and may conduct investment advisory services in states where it is registered, exempt, or excluded from registration.  Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products.  Investments involve the risk of loss and are not guaranteed.  Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.

Ever experienced the frustration of putting in your best efforts only to feel like your collision repair business is falling short of its full potential?  Oftentimes, collision shop owners are unaware of various aspects that hinder their growth, resulting in missed opportunities for both themselves and their stakeholders – employees and customers alike. Join Matt Di Francesco and Holly Jean Jackson, Revenue and Peak Performance Consultant, as they discuss the strategies that collision shop owners often miss, addressing the pain points that might be holding their business back.  Matt and Holly talk about: (01:46) How Holly became a consultant for business owners (04:17) What areas do business owners typically miss when increasing their revenue and performance?  (06:03) Why collision shop businesses must have a CRM (09:13) Why business owners must keep their referral strategy on top of mind (14:22) Why collision shop owners should keep a good relationship with insurance adjusters (16:41) How to create an environment that attracts and retains talents (22:36) The benefits of having amazing employees (23:15) The one thing shop owners must do to improve their business Connect With Holly Jean Jackson Website: https://hollyjeanjackson.com/ LinkedIn: https://www.linkedin.com/in/hollyjjackson/ Facebook: https://web.facebook.com/hollyjeanjackson/?_rdc=1&_rdr Instagram: https://www.instagram.com/coachhollyjeanjackson/ Youtube: @hollyjeanjacksonllc1680 Email: info@@hollyjeanjackson.com Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial About the Guest: Holly Jean Jackson, a Revenue and Performance Consultant, Speaker, Podcast Host, and Author, is the visionary founder of Business Builder Throw Down. With a diverse career spanning technology, communications, organizational change, public relations, and content strategy, Holly brings over 12 years of experience revitalizing business leaders physically, mentally, and emotionally. Her influence extends beyond the professional realm, as she led a Local to Global Policy Initiative shaping the impact of future leaders on communities. In addition to her professional achievements, Holly is a first-chair clarinetist at Carnegie Hall and holds a Black belt in karate. Holly advocates for a holistic and logistical approach through her Peak Performance Blueprint, recognizing how personal and business success is interconnected. Entrepreneurs seek Holly's expertise to master the art and science of real success, recognizing the common challenges of lacking direction, action, and results. Specializing in crafting business roadmaps, Holly ensures impactful visibility, intentional profitability, and sustained success. She emphasizes the transformative power of action, guiding entrepreneurs towards meaningful shifts in their pursuit of success. Disclaimer: DiFrancesco Financial Concierge, LLC d/b/a High Lift Financial is a Pennsylvania-Registered Investment Advisor and may conduct investment advisory services in states where it is registered, exempt, or excluded from registration.  Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products.  Investments involve the risk of loss and are not guaranteed.  Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.

To have a seamless business transition, business owners must understand the intricacies of building value and strategic preparation in the business. However, one critical area that most business owners often overlook is developing a personal vision for life outside the business. A statistic from the Exit Planning Institute revealed that 76% of business owners regret selling their business a year after the sale. This statistic highlights the importance of envisioning a meaningful life after exiting the business. In this episode, Matt DiFrancesco discusses why developing a personal vision is crucial and provides practical tips to help business owners craft a meaningful and purposeful one. Matt talks about: (01:49) How to develop a personal vision statement (08:12) What is a personal vision balance sheet (09:13) The importance of evaluating your end goal (10:02) Why you must physically write what your vision is (11:11) One of the biggest things that we take for granted in life Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial Instagram: @high_lift_financial Youtube: @highliftfinancial DiFrancesco Financial Concierge, LLC d/b/a High Lift Financial is a Pennsylvania-Registered Investment Advisor and may conduct investment advisory services in states where it is registered, exempt, or excluded from registration. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.

As we enter the new year, businesses need to reflect on past achievements and plan strategically for the future. And as shop owners embark on their journey, one crucial element they must consider is having a sound transition plan.  A significant challenge most shop owners face is balancing the demands of running their business. They get so busy with day-to-day operations that planning on how to leave the company someday often takes the back seat. When the time comes when they finally want to exit the business, they find themselves rushing to make decisions, making it difficult and costly to execute a proper transition plan. In this episode, Matt DiFrancesco explores key considerations and actions that can position collision shop owners for success in 2024 and beyond - even if they're not planning an exit soon. Matt talks about: (01:15) One of the bug challenges shop owners face today (03:05) Why every move you make as a shop owner should have your transition in mind (03:40) The importance of having a comprehensive business continuity plan (06:19) The significance of adequate estate planning (07:27) What shop owners need to consider when it comes to their key employees (08:24) Why collision shops must adapt to market change (08:32) Why it's important to start transition planning now Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial Disclaimer: The content posted here is not a substitute for tax or legal advice or professional investment. DiFrancesco Financial Concierge, LLC d/b/a High Lift Financial is a Registered Investment Advisor in the State of Pennsylvania.

Artificial Intelligence has opened up incredible possibilities in our daily lives. It has significantly impacted how we learn, conduct business, and navigate our routines, profoundly altering our world in ways we once thought impossible. But as they say, "too much of a good thing is bad," and this sentiment holds even in the realm of AI. While AI has the potential to be a helpful ally, relying on it too much could bring unexpected challenges and drawbacks. AI works best when used wisely and responsibly. By incorporating ethics into its development and use, we can enjoy its capabilities for a better and more sustainable future. Join Matt DiFrancesco and Laura Miller, an Award-winning AI Ethicist, Digital Humanitarian, and founder and CEO of NextGen Ethics as they explore the future of AI and discuss the ethical aspects crucial to this transformative technology and how it impacts the automotive industry. They talk about: (04:47) The benefits of having human experts to oversee AI (06:11) How Laura got involved with ethical AI (09:33) The three ideas behind the ethics of Artificial Intelligence (10:11) The challenges of dealing with AI in the collision repair industry (16:14) A human ability that AI will never mimic (17:15) Why AI cannot replace humans as a superpower (26:06) The value of educating people about understanding AI (27:37) What the automotive industry needs to be aware of about the dangers of AI Connect with Laura Miller Website: https://www.nextgenethics.com/ LinkedIn: https://www.linkedin.com/in/lmiller-ethicist/ Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial About Our Guest: As the CEO and founder of NextGen Ethics, Laura Miller strives to advance the development of ethical AI. She teaches philosophy at Webster University and serves as the Director of Ethics at Shadowing AI.  Miller has been recognized by NASA for her contributions to tech ethics, and she is a member of other tech advisory boards, such as the Open Voice Network, which is funded by the Linux Foundation.  Her humanitarian endeavors have also earned her a Knights of Columbus award, and The New York Times and Lens Magazine have published articles about her ethnographic studies.  She received her BA and MA in Philosophy from the University of Missouri-St. Louis, where she focused on applied ethics. She speaks on ethical concerns related to AI both domestically and globally.

Have you ever wondered why some of the most successful people, those who seem to have it all, still feel so lost despite their achievements? Many high achievers are trapped in a continuous cycle of striving for more without feeling content. So, how does one transform success into genuine fulfillment? In a world where the pursuit of success often takes center stage, it's essential to recognize that success alone does not guarantee fulfillment or happiness. Sometimes, we must go through self-discovery and growth to find a more meaningful and purposeful life. Join Matt DiFrancesco and Charis Santillie, a Life Balance and transition Coach for Entrepreneurs and Host of the Charis Your Life podcast, in this second part of their conversation as they discuss the value of personal development and how it can have a tremendous impact on personal growth and business success. They talk about: (01:39) The importance of personal development (03:41) Personal development and its impact on communication skills (11:28) How personal development can help you understand how people perceive you (14:03) The value of awareness (18:24) What to do when you can't explain someone's behavior (24:34) The challenge of being in the comfort zone Connect with Charis Santillie Website: https://www.charisyourlife.com/ Podcast: https://www.charisyourlife.com/podcast LinkedIn: https://www.linkedin.com/in/charisyourlife/ FREE Saboteur Assessment: https://www.charisyourlife.com/assessment Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial About Our Guest: Charis Santillie is a Life Balance & Transition Coach and the Charis Your Life® podcast host. She has been a business owner for over twenty years and is also a speaker, Certified Fearless Living® Coach, Certified Fearless Trainer, and Positive Intelligence® Trainer. Charis' Busy to Balanced™ program has been an enormous success, with 94% of her international clients giving positive evaluations and stating that she met or surpassed their expectations. For the past ten years, Charis has been researching personal growth and healing techniques ranging from the spiritual to the scientific. She also offers advice based on her personal experiences in her Life's a Hoot blog and Charis Your Life podcast (which reached the Top 40 in U.S. Entrepreneurship and the Top 200 in U.S. Business on Apple Podcasts and Top Charts in 6 countries). 

Have you ever wondered why some of the most successful people, those who seem to have it all, still feel so lost despite their achievements? Many high achievers are trapped in a continuous cycle of striving for more, without ever feeling contented. So, how does one transform success into genuine fulfillment? In a world where the pursuit of success often takes center stage, it's important to recognize that success alone does not guarantee fulfillment or happiness. Sometimes, we have to go through the journey of self-discovery and growth to find a more meaningful and purposeful life. Join Matt DiFrancesco and Charis Santillie,  Life Balance & Transition Coach for Entrepreneurs and Host of the Charis Your Life podcast, in this second part of their conversation as they discuss the value of personal development and how it can have a tremendous impact on personal growth and business success. They talk about: (01:39) The importance of personal development (03:41) Personal development and its impact on communication skills (11:28) How personal development can help you understand how people perceive you (14:03) The value of awareness (18:24) What to do when you can't explain someone's behavior (24:34) The challenge of being in the comfort zone Connect with Charis Santillie Website: https://www.charisyourlife.com/ Podcast: https://www.charisyourlife.com/podcast LinkedIn: https://www.linkedin.com/in/charisyourlife/ FREE Saboteur Assessment: https://www.charisyourlife.com/assessment Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial About Our Guest: Charis Santillie is a Life Balance & Transition Coach and host of the Charis Your Life® podcast. She has been a business owner for over twenty years and is also a speaker, Certified Fearless Living® Coach, Certified Fearless Trainer, and Positive Intelligence® Trainer. Charis' Busy to Balanced™ program has been a huge success, with 94% of her international clients giving it positive evaluations and stating that she met or surpassed their expectations. For the past ten years, Charis has been researching personal growth and healing techniques ranging from the spiritual to the scientific. She also offers advice based on her personal experiences in her Life's a Hoot blog and Charis Your Life podcast (which reached the Top 40 in U.S. Entrepreneurship and the Top 200 in U.S. Business on Apple Podcasts, as well as Top Charts in 6 countries). 

As business owners, we often find ourselves so engrossed in the daily grind that we forget to stop and ask the most crucial question: Are we truly living the life we want? While achieving professional success is undoubtedly essential, it's equally important to pause, reflect, and ensure that personal growth and mental fitness are not left behind. The truth is that self-awareness, finding space for what truly matters, and improving our mental fitness are essential components that can lead to lasting peace of mind and a more fulfilling life. Join Matt DiFrancesco and Charis Santillie,  Life Balance & Transition Coach for Entrepreneurs and Host of the Charis Your Life podcast, as they talk about how our mental challenges can hold us back from achieving the life we want and how having a coach to guide us as we face these hurdles is vital to having a richer life than what we imagined. They talk about: (02:20) How a family tragedy led Charis to become a life coach (07:30) Scarcity vs. abundance (10:36) The difference between life coaching and therapy (18:32) The benefits of having an “Outside Advisor” (23:27) Why personal development is crucial (24:59) Why you shouldn't use your busyness to avoid uncovering who you are (27:06) One of the key purposes of our lives Connect with Charis Santillie Website: https://www.charisyourlife.com/ Podcast: https://www.charisyourlife.com/podcast LinkedIn: https://www.linkedin.com/in/charisyourlife/ Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial About Our Guest: After a hot air balloon accident that led her dad to become paralyzed, Charis Santillie's life completely changed. Her mother developed alcoholism while she kept herself ridiculously busy to be able to control her internal crises. When Charis realized that she shouldn't let her father's condition paralyze her life, she met with a life coach who helped her peel back her protective layers and learn to trust herself and the world around her. She then spent the next 10 years focusing on personal development until she finally found calm and inner peace. Charis now guides top achievers through their personal and professional transitions and helps them go from “busy to balanced”. She believes that it's possible to live the life we want without dealing with persistent guilt, worries about others' opinions, or sacrifices to your health and sense of purpose. Aside from being a coach and podcast host, Charis is also a speaker, Certified Fearless Living® Coach, Certified Fearless Trainer, and Positive Intelligence® Trainer. DISCLAIMER: The content posted here solely represents the opinions and views of the guest and may not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment.

For anyone who owns a business, the process of passing down a company from one owner to the next can be quite challenging. Without proper guidance and careful planning, it can be difficult to know where to start when considering how best to transition ownership and ensure profitable continuity for yourself and future owners.  Furthermore, understanding the pitfalls of succession planning and developing clear exit options before any transactions occur is essential in creating positive long-term outcomes for all parties involved.  Join Matt DiFrancesco and Laurie Barkman, The Business Transition Sherpa, Author, and M&A Advisor, as they talk about how entrepreneurs can approach transitioning their businesses from transactional model efforts to more strategic initiatives —and what measures need to be taken to avoid common missteps along the way.   They talk about: (02:46) The story behind the name “Business Transition Sherpa” (03:51) What prompted Laurie to write the Business Transition Handbook (10:31) Why businesses that are very dependent on the owner will not create much value (11:56) What is a strategic readiness plan and why is it important? (15:49) The best time to start planning for business transition (19:58) A good place to start when transitioning your business (22:52) Why is hiring a Transition or Exit Planning Specialist important? Connect with Laurie Barkman Website: https://thebusinesstransitionsherpa.com Book: https://thebusinesstransitionsherpa.com/the-business-transition-handbook/ LinkedIn: https://www.linkedin.com/in/lauriebarkman/ Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial About Our Guest: Laurie Barkman, the business transition sherpa, is the former CEO of a $100 million revenue company that was sold to a Fortune 50. As a mergers and acquisitions expert, Laurie offers business owners a systematic method for organizing smooth transitions inside their organizations. Laurie is the author of The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options, guiding business owners on their journey from transition to transaction, from creating value to letting go. She is an adjunct professor of entrepreneurship at Carnegie Mellon University and hosts the award-winning podcast Succession Stories, where she speaks with hundreds of entrepreneurs who have shared their journeys through succession. Laurie earned her MBA from Carnegie Mellon University and a Bachelor of Science degree from Cornell University. She received certifications from The Alliance of Mergers & Acquisitions Advisors, The Exit Planning Institute, and The Value Builder System. Laurie currently lives in Pittsburgh with her husband and two kids.  DISCLAIMER: The content posted here solely represents the opinions and views of the guest and may not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment.

In today's fast-paced and unpredictable world, businesses of all sizes face numerous challenges that can disrupt their operations. As a collision shop owner, unforeseen events such as natural disasters, economic downturns, and supply chain disruptions can severely impact your ability to provide services to your customers. Having a sound business continuity plan can help protect your hard work and provide peace of mind should anything happen or if you choose to leave the industry in the long term. In this episode, Matt DiFrancesco talks about what goes into creating an effective business continuity plan and how this planning process can be invaluable for safeguarding the future of your collision shop's success. Matt also discussed the following: (01:35) The first area of business he looks into when working with a shop owner (07:45) Why businesses must have “stay bonus plans” for key employees (11:23) The importance of knowing the value of your business (12:11) How proper valuation prevents asset gap (14:09) How to keep continuity in the business (16:36) The importance of having a buy-sell agreement (21:32) Why it's critical to have a fiduciary financial advisor Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial DISCLAIMER The information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment.  Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a High Lift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania's regulatory oversight. 

The collision repair industry has long been a male-dominated space. And the stigma that women are not as strong or capable as men poses challenges for women who aspire to make their mark in it.  Fortunately, the number of females in the workforce is slowly increasing. And some female mentors have successfully navigated their way through the industry – proving that women can leverage their unique skill sets to demonstrate their value to the business. With patience, perseverance, and passion for their job, women can achieve great success and help break down barriers in the male-centric field of collision repair.   Join Matt DiFrancesco and Petra Schroeder, one of the most influential women in the collision repair industry and a trustee of the Collision Repair Industry Foundation, as they talk about how women can break the stigma and have successful careers in the collision repair business and how the industry can benefit from of the strengths that women in the workforce have to offer. They talk about: (05:22) What's impressive about the collision industry (06:58) Petra's advice for women who want to enter the collision industry (09:03) What it means to be a first-class woman  (12:57) How can women define their personal brand (17:01) How should an owner prepare his shop for when a female comes on board (19:01) The value of having men and women work together (22:25) The unique advantage of a female over a male business owner Connect with Petra Schroeder LinkedIn: https://www.linkedin.com/in/petra-s-15261412/ Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial About Our Guest: Petra Schroeder started her career in 1969 in Germany as an apprentice at Herberts, a chemical company.  In 1995, she decided to join the American Standox team and had several opportunities to work in various positions with the DuPont Performance Coatings and Axalta company. Upon retirement in 2016, she realized that her passion for the industry was much more profound than she thought, so she decided to stay engaged and involved. Petra has been a member of the Women Industry Network since its inception in 2006 and proudly served as its chair from 2016 to 2018 and its Immediate Past chair until May 2019. She currently serves as a trustee/secretary of the Collision Industry Foundation and is a member of the executive, fundraising, and marketing committee.  She has received several industry awards, including Most Influential Woman in 2018 by the Women's Industry Network and the March Taylor Kina'ole Award from the Society of Collision Repair Specialists.  In 2021,  Petra became an inductee to the Collision Industry Hall of Eagles. Petra considers herself a "Collisionista," which is a fantasy word derived from "Collision," ending with a female version (similar to Fashion/Fashionista).

As a business owner, you have put countless hours, blood, sweat, and tears into growing your business. It has become a massive part of your life, with a significant financial and emotional investment.  However, as much as you love your business, you can't stay in it forever. Because the reality is, at some point, you will need to exit, whether due to retirement, family reasons, or other unforeseen circumstances.  But with a solid plan in place, you could take advantage of potential opportunities to maximize the value of your business and secure a comfortable retirement. That is why if you want to put yourself in a much better position to achieve your goals and protect your legacy, developing a comprehensive exit strategy needs to start now. In this episode, Matt Di Francesco shares his insights on the importance of planning with the end in mind and why now is the perfect time to start building your business exit strategy. Matt talks about: (02:44) Why business owners shouldn't wait to create an exit plan (03:06) What most shop owners miss when running their business (07:22) The value of family meetings (10:18) The biggest challenge in the planning process (16:56) Why business owners must know the value of their business  (20:09) One of the most challenging conversations to have with most shop owners (21:43) The benefits of hiring an exit planner Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial

Being a body shop owner in the collision industry today is no easy feat. The market is vast, and the competition is fierce. That is why settling just to be good or average is not enough. To truly stand out and be extraordinary, businesses must focus on how they are treating their customers, what kind of culture they are creating in their workplace, and how they are incorporating the latest technology to stay ahead in the game. Join Matt DiFrancesco and Mike Anderson, President - Owner at Collision Advice, as they discuss how collision shop owners can shift their mindset and strive to be extraordinary in every aspect of their business. They talk about: (02:25) Why collision shops need to deliver a phenomenal customer experience (04:13) The importance of OEM Certifications (05:53) Why shops should record how their employees handle customer calls (07:28) The value of building culture in the workplace (16:48) Why business owners should ask employees to evaluate them (22:25) What shop owners need to understand about their employees' drive and passion (24:34) Why business owners must be aware of their employees' vision for the future (25:32) What every choice you make today should lead to (28:55) The importance of having a plan in place in case you pass away (29:39) Why you need to have a mediator during succession planning Connect with Mike Anderson Website: https://collisionadvice.com/ LinkedIn: https://www.linkedin.com/in/mike-anderson-1124ba48/ Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial About Our Guest: Mike Anderson is considered one of the gurus in the collision industry. He used to own multiple collision shops in Alexandria, VA. which held numerous OEM certifications. They were also voted the #1 Collision repair business for 12 years in a row in the Washington DC, MD, VA area. Today, he is the owner of Collision Advice, an industry research and consulting business that provides expert guidance and real-world, cutting-edge solutions to collision businesses in the country. Mike speaks with a lot of passion and whenever he speaks at conferences, the room gets packed full of people who are eager to learn from his wealth of knowledge in the business.

Last year, I was a guest on the Virtual U.S. Financial Advisors podcast where I talked about my financial assessment process. We've divided the episode into 8 parts and today I'll be sharing with you the last of the series. In this episode, I completed the financial assessment process that we go through without clients and covered everything else from our financial plan, including asset protection, funding, and planning. (01:49) What are the ways to help protect assets  (04:06) The advantages of creating separate business entities under one umbrella (09:08) Why do you need to start to define what's really important to you (10:18) The purpose of having assessments (12:15) What keeps me awake at night Get a copy of our one-page assessment chart here: https://bit.ly/3tVosaq P.S. Financial needs and concerns vary for each person. If you wish to take your financial assessment with me, go to www.highliftfinancial.com and click on Let's Talk. DISCLAIMER The information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment.  Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a HighLift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania's regulatory oversight. 

A smart and effective transition plan for a family business is critical for its future and should be taken seriously. That is why getting the necessary help from professionals is important for anyone who is thinking about transitioning their family business to the next generation. Because a well-thought-out transition plan is not just about preserving what has been built over the years but also for business owners to find life after exiting their businesses. In today's episode, Larry Dragan, CEO of Ultimate Unlimited, LLC. shares his journey from working in a garage, to buying the business, and eventually transitioning it over to his son. He also discusses how his passion for other things made the process a lot easier. We also talked about: (02:32) How Larry got into transitioning his business (04:04) How he turned over the garage to his son while still remaining involved in the business (05:48) The importance of having an exit plan (10:13) How Larry's other interests helped make the transition easier (17:10) How long the business transition process took (18:52) Issues we are seeing in the automotive industry (22:13) Why the pay structure for technicians has to change in the future Connect with Larry Dragan Website: https://www.ultimateunlimitedllc.com/ Email: UltimateUnlimitedLLC@gmail.com Phone: 866-202-2290 LinkedIn: https://www.linkedin.com/in/larry-dragan-30547560/ Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial About the Guest: As a young kid, Larry Dragan started by taking apart things like lawnmowers and other stuff that his dad never had any idea how to put back together. From the age of 14, he worked his way through high school by helping his father work at a garage that is owned by a close family friend. When the time came for the garage owner to retire, he made an offer to Larry to buy the business. He became the owner of the garage at 19 until he eventually turned it over to his son while still serving as the chairman of the board. In the 90s, Larry got involved in the mediation of problem vehicles and served on the arbitration boards for both Chrysler and Ford. Today, he still provides many services nationwide, including expert witness services, lemon law cases, pre-purchase inspections, automotive appraisals, automotive mediation, umpiring, and automotive business coaching and development.

We're now down to the last 2 parts of this series, where I talked about my financial assessment process as a guest on the Virtual U.S. Financial Advisors podcast. In this episode, I shared my insights on what financial advisors do and how to determine the right advisor for your specific needs. In this episode, I discussed: (02:23) Why the financial industry gets a bit of a bad name (02:52) Questions you need to ask if you're looking for an advisor (05:30) The difference between a fiduciary from someone who is based on suitability (07:05) Why the majority of what advisors do is more psychological than anything else (07:17) The three criteria I look for in clients P.S. Financial needs and concerns vary for each person. If you wish to take your financial assessment with me, go to www.highliftfinancial.com and click on Let's Talk. DISCLAIMER The information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment. Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a High Lift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania's regulatory oversight.

People are the power engines of business success and growth. That's why managing "people problems" should be seen as a necessary part of developing a successful business. What makes a strong leader is someone who understands the dynamics among people, can motivate and enable team members, define roles, look at external factors that may affect morale, and create activities to foster engagement and retention. Tune in to today's episode, as Bruce Schronce, President and Founder of StrongLead, LLC. shares his insights on how developing great leaders fosters positive growth and promotes long-term success for businesses out there. We talked about: (06:19) Why is there such a need for leadership training? (12:30) The 3 critical things StrongLead brings to the table (17:39) Why leadership is a personal thing (21:03) What leadership development is all about (26:07) Why Bruce recommends targeting and niching to his clients (29:55) Bruce's top piece of advice (31:56) Why your people are NOT your greatest asset Connect with Bruce Schronce Website https://stronglead.org/ LinkedIn: https://www.linkedin.com/in/bruce-schronce-38470115/ Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial About the Guest: Bruce Schronce liked seeing great leadership and was influenced by a lot of good strong leaders throughout his life. Eventually, he found himself in leadership roles that he started to become truly passionate about it. A lot of his experience and education was geared around leadership. He got a Master's degree in leadership development and became certified as a leadership coach. Today, Bruce is the Founder and President of StrongLead, an organization that specializes in challenging leaders to a comprehensive approach of personal, lifelong leadership development, organizational perspectives, committed engagement, team building, and action planning that lead to definitive and deliberate steps of positive growth and significant impact.

Several months ago, I was a guest on the Virtual U.S. Financial Advisors podcast, where I shared details of my financial assessment process. We have divided this episode into 8 parts which we shared with you over the past few weeks. In the 6th installment of this eight-part series, I shared my insights on what could happen in the event that the next generation of the family is not interested in running the business. In this episode, I discussed: (01:29) How to work with key team members when it comes to business considerations and income needs. (06:08) How to keep a business functioning in the event of the owner's death or disability (06:58) What is a buy-sell agreement (12:44) The advantage of having plans in place in case a spouse dies (15:21) The value of having the foresight P.S. Financial needs and concerns vary for each person. If you wish to take your financial assessment with me, go to www.highliftfinancial.com and click on Let's Talk. DISCLAIMER The information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment. Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a HighLift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania's regulatory oversight.

I've been working with family businesses for the last 17 years. And since then, I've developed relationships with business owners who became my personal clients. As I learned about the intricacies of the business and how important business continuity is for these owners, I've put together my own system in order for me to help them. Today, I'm sharing the interview I had on Why We Plan: A Podcast For Exit Planners and Business Owners with host and BEI Founder John Brown. I shared my story of how I got into Exit Planning and how the BEI 7-Step Exit Planning Process™ and access to a network of seasoned professionals have made a world of difference to my clients and their businesses. I also talked about: (01:20) What got me interested in Exit Planning (02:24) What I really love about BEI (04:07) The first step of the exit planning process (04:39) What most advisors aren't aware of about exit planning (08:01) The core of my business Connect with BEI Websites https://www.exitplanning.com/ LinkedIn: https://www.linkedin.com/company/business-enterprise-institute/ Twitter: @BEIexitplanning Facebook https://www.facebook.com/BEIexitplanning Youtube: https://www.youtube.com/user/ExitPlanningExperts Phone: (888) 206 - 3009 - Toll-Free (303) 321 - 2242 Connect with John Brown Websites: Exit Planning for Advisors Inside the Exit Blog John Brown Presents LinkedIn: https://www.linkedin.com/in/johnhbrown/ Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial About BEI: Business Enterprise Institute, Inc. (BEI) is an organization that provides business advisors the tools to help them differentiate their practice and provide better solutions to clients. They offer comprehensive Exit Planning training, marketing support, and plan-creation tools, For over 25 years BEI has helped advisors build deeper relationships with clients and have provided resources to help business owner clients reach their goals. About John Brown: For over 30 years, JOHN H. BROWN has skillfully guided hundreds of business owners through the most important financial (and emotional) transaction of their lives: the exit from their companies. Today, John Brown is the founder of Business Enterprise Institute Inc. (BEI). He created the BEI 7-Step Exit Planning Process™ and successfully tested it on hundreds of his own business-owner clients.

We're now halfway through this eight-part series where I was a guest on the Virtual U.S. Financial Advisors podcast. For Part 5, I discussed the value of having the family involved in planning for the future of the business and why family meetings are vital. In this episode, I talked about: (03:42) The first step in planning for the family business succession (05:00) Why do I prefer the founders of these family businesses to share their story (06:21) The steps to take to encourage the child to learn how to take over the business (07:55) The importance of having the right people in the right seats (09:06) How to overcome situations where the next generation has no interest in taking over the business P.S. Financial needs and concerns vary for each person. If you wish to take your financial assessment with me, go to www.highliftfinancial.com and click on Let's Talk. DISCLAIMER The information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment. Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a HighLift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania's regulatory oversight.

When it comes to family businesses, continuity is the key. And no one knows this better than the business owner who is looking to transition out of their business. Whether it's due to retirement, health concerns, or simply a desire to move on to something new, exiting a business can be complex and emotionally draining. Fortunately, there are a few things that business owners can do to help ensure a smooth transition. These are steps that business owners can take so that their family business can continue to thrive long after they've left it. Join Matt DiFrancesco and Nicholas Niemann, a family business continuity attorney and Partner at McGrath North Mullin & Kratz, as they talk about how to design and deploy critical actions that business owners need to grow, protect, and transition their family businesses - and end up with a strong “fourth quarter” in business and in life. They also talked about: (02:17) How Nick got into business continuity planning (03:33) What the “pioneer mindset” is all about (06:19) What fourth quarter planning means (11:49) How to address business owners who are not sure if they want to leave the business (14:08) The three key questions every business owner must be able to answer (15:09) How does the Business Model Canvas work? (15:50) Why business owners need to understand how their business model works (17:01) How does Nick help business owners identify what their primary business is? (19:55) The importance of understanding your WHY (21:47) The value of having a continuity plan in place (25:14) Why business owners need to start planning early Connect with Nicholas Niemann Websites: https://www.mcgrathnorth.com/ https://www.mcgrathnorth.com/attorneys/nicholas-k-niemann https://www.myfourthquartergameplan.com/ LinkedIn: https://www.linkedin.com/in/nick-niemannba635810/ Phone: +1 (402) 633-1489 Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial About Our Guest: Nicholas Niemann grew up in a small midwest town in Quincy, Illinois where his family ran a number of family businesses. He studied at Creighton University College of Business in Omaha then went on to law school. His entire life, Nick's focus has been on companies with small middle market, family businesses, and largely the supermarket businesses that his family was involved in as he grew up. In 1983, he started working at the McGrath North Mullin & Kratz, PC LLO as a partner and practicing attorney. Nick has developed four principal areas of practice while with McGrath North namely: State and Local Tax and Incentives, Business Owner Succession and Exit Planning, Business Planning and Design, Family Estate Planning. Today, Nick enjoys working with family businesses of all types and sizes around the country. As a long-time business continuity attorney, he has also developed specific protocols for business continuity, succession, and exit planning and has worked with more than 900 CEOs around the country to help build a strong economic future for companies and the families which count on them. As a Succession Planning and Exit Planning attorney, he has authored books on Succession and Exit Planning (including his latest book, “Fourth Quarter First”).

As we continue on the fourth of this eight-part series where I was a guest on the Virtual U.S. Financial Advisors podcast, I shared why culture is vital and how it contributes to increasing the value of any business. Also, I discussed succession development and employee retention, which are essential parts of exit planning for any business owner. I talked about: (02:19) The importance of building culture within the business (05:04) Why transparency matters in employee retention (09:27) What is the biggest reason for dysfunction in a team? (17:30) What true leadership means (18:59) One of the greatest leadership books I have ever read P.S. Financial needs and concerns vary for each person. If you wish to take your financial assessment with me, go to www.highliftfinancial.com and click on Let's Talk. DISCLAIMER The information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment. Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a HighLift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania's regulatory oversight.

Choosing the right business structure can be overwhelming for most business owners. That's mainly because not everyone has a background in accounting or tax law. And it's no surprise that there is often some confusion about what S Corp and C Corp mean, their benefits and disadvantages, and what factors should be considered in choosing which one would work best. Join Matt DiFrancesco and Stuart Sorkin, Founding Member at The Business and Legal Advisors, as they discuss industry insights and the key differences between the two business structures to help entrepreneurs and collision shop owners make an informed decision about which is right for their business. They also talked about: (02:46) How Stuart got involved in planning with automotive collision shops (05:12) What lifestyle practice means (07:17) The biggest challenge in the industry (07:47) How can shop owners overcome the shortage of talent (09:20) The importance of having employees sign a training bonus agreement (13:04) S Corp vs. C Corp (16:22) The biggest problem with S Corporations (18:59) Two drawbacks of becoming a C Corporation (20:57) What goodwill means (25:42) What business owners should consider in choosing a business structure (27:20) The real issue with most entrepreneurs Connect with Stuart Sorkin Email: SSORKIN@SHSPC.COM Websites: https://stuartsorkin.com/ https://businessandlegaladvisors.com/, LinkedIn: https://www.linkedin.com/in/stuart-sorkin-84a528/ Phone: +1 (301) 320-1152 Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial About Our Guest: Stuart Sorkin is the founder of The Business and Legal Advisors, a consulting firm specializing in the financial and legal protection of business owners, executives, and entrepreneurs throughout the United States and overseas at every stage of their business life cycle. As a former entrepreneur, CPA, and attorney with more than 30 years of experience, he possesses a unique set of capabilities to assist a business owner with the challenges of growing and/or exiting a business. He works with startups and small to mid-size business owners to integrate their personal financial and estate planning goals with the development and implementation of growth and/or succession or exit strategy for their business. Stuart is also the co-author of "Expensive Mistakes When Buying & Selling Companies...and How to Avoid Them in Your Deals." Stuart Sorkin has been interviewed by the Wall Street Journal, Time Magazine, USA Today, Money Magazine, and BankRate.com on a wide range of tax matters. He is also a frequent lecturer on exit strategies, estate planning, and asset protection to various professional and small business organizations and associations. DISCLAIMER The information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment. Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a High Lift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania's regulatory oversight.

We are now in the third installment of this eight-part series where I was a guest on the Virtual U.S. Financial Advisors podcast. In this episode, I discussed the importance of identifying value divers and exit objectives for the family business. One of the important aspects of my financial assessment process is to consider the things within your business that we can work on to help drive the value of the business up. I also talked about: (04:49) What is a value drivers report (06:34) How to use the value drivers report (09:42) Could the same exit planning concept be applied to serial entrepreneurs (11:20) The key things to focus on in an exit objective (20:02) Why building a sound financial plan takes a collaborative effort P.S. Financial needs and concerns vary for each person. If you wish to take your financial assessment with me, go to www.highliftfinancial.com and click on Let's Talk. DISCLAIMER The information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment. Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a HighLift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania's regulatory oversight.

Many people who own automotive repair businesses started out as technicians. They may be excellent at repairing cars but they have no experience leading a team of people. As a result, they may not be aware of the various strategies that good leaders use to motivate and inspire their employees. And without proper guidance, business owners may quickly become overwhelmed by the challenges of running a successful operation. Join Matt DiFrancesco and Dan Ryan, Founder and Owner of Team Ryan Automotive, as they talk about Dan's journey from an entry-level apprentice to starting his own business and how the skills he acquired along the way helped him become a better leader and led him to growing his business from scratch to $2 million in sales in the last seven years. They also talked about: (02:31) How Dan got into the automotive repair industry (08:17) What prompted Dan to start his own business (12:35) The biggest challenges in starting your own business (16:58) Why Dan thinks the staffing issue in the automotive industry is partially self-inflicted (19:46) Why shop owners should invest in their people (24:29) The stigma attached to automotive technicians (26:49) How has the recent round of inflation affected how technicians are getting paid (29:32) The problem with having entities that have not been trained in how to service and repair a vehicle dictating the course of the diagnostics and repair Connect with Dan Ryan Email: Dan.R@TeamRyanAutomotive.com Website: https://www.teamryanautomotive.com/ Facebook: https://www.facebook.com/teamryanauto LinkedIn: https://www.linkedin.com/company/team-ryan-automotive?trk=biz-companies-cym Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial About Our Guest: Dan Ryan received his Associate Degree in Automotive Technology in 1999. He spent the next five years as a full-time service technician at a local dealership and he quickly progressed from being an entry-level apprentice to a senior level ASE certified and GM factory trained World Class technician. In 2004, he moved to Gwinnett Place Honda Hendrick Collision Center, where he added Honda factory training and I-CAR Platinum Individual recognition to his list of accomplishments. Consistent with his quest for even greater achievements, and with his wife's formal business management training, the two decided to start their own shop in 2015. Today, Dan Ryan is the Founder and Owner of Team Ryan Automotive, an innovative customer-focused repair shop in Buford, GA. DISCLAIMER The information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment. Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a High Lift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania's regulatory oversight.

A couple of weeks ago, I shared with you the first of an eight-part series where I was invited as a guest for the Virtual U.S. Financial Advisors podcast. Basically, I gave the audience an idea of how I identify my client's major wants, needs, and concerns through my financial assessment process. In this second episode, I discussed why some business owners consider the maximum price/minimal taxes as one of their top financial concerns, and why it's important to have a basic valuation for your business. I also talked about: (04:28) What is a basic business valuation for? (07:33) What are the things to look at to help gauge a business' value (11:02) What a retirement plan does (14:21) When is a good time to start planning for your exit (15:43) Why I consider myself a “financial quarterback” P.S. Financial needs and concerns vary for each person. If you wish to take your financial assessment with me, go to www.highliftfinancial.com and click on Let's Talk. DISCLAIMER The information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment. Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a HighLift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania's regulatory oversight.