Podcasts about business succession

In this episode of Remodelers On The Rise, Kyle Hunt sits down with attorney Jennifer Winegardner to discuss a critical topic many remodelers overlook—estate planning and business succession. From wills to trusts, powers of attorney to living wills, Jennifer explains the five essential documents every business owner should have in place. Hear real-life stories, practical insights, and why preparing for the unexpected (yes, even a rogue flock of turkeys) is one of the best gifts you can give your family and your team. Whether you're just starting your business or you've been running it for decades, this episode will help you avoid unnecessary legal headaches—and leave a legacy that's organized, not chaotic. ----- Today's episode is sponsored by Builder Funnel! Click here to learn more about how Builder Funnel helps remodelers and home builders grow through strategic digital marketing. ----- Explore the vast array of tools, training courses, a podcast, and a supportive community of over 2,000 remodelers. Visit Remodelersontherise.com today and take your remodeling business to new heights! ----- Takeaways Estate planning is essential for everyone, not just the wealthy. Trusts can help avoid the probate process. A will alone may not be sufficient for effective estate planning. Funding your trust is crucial for it to be effective. Regularly updating your estate plan is necessary as life changes occur. Business succession planning is vital for business owners. An inventory of assets is a helpful first step in planning. Having a good relationship with a lawyer is important for effective planning. Keep your family out of conflict and court by planning ahead. Estate planning can save your family from costly probate fees. ----- Chapters 00:00 Introduction to Estate Planning and Business Succession 05:48 Understanding the Importance of Estate Planning 08:45 Key Components of an Estate Plan 09:39 The Role of Trusts in Estate Planning

Guest: Michelle WilsonBusiness: Wilson LegalLinkedIn: linkedin.com/in/wilsonlegalInstagram: @wilson.legalYouTube: @wilsonlegal164Topics Discussed:Michelle's surprising path to law (it all started with a speeding ticket) Launching her firm with $10K and no heating The impact of the BRCA1 gene on her business operations How she stepped away for 12 weeks—and had her best month ever Using mindset coaching and systems to scale Her vision to reach $10M in revenue and serve 10,000 Georgia families The role of letters, legacy, and emotionally intelligent estate planning What makes an “A” client—and why she lets the “F” ones go Book Mentioned:So I Can Love You Longer: A Mother's Message to Her DaughterAvailable on Amazon, Kindle, and Audible.Key Questions(01:05) How did you get to be where you are?(06:49) Have you stepped yourself out of your business?(09:29) How does that make you feel? Mixed emotion?(10:37) Who would you say are your ideal people to work with? Your ideal clients?(13:17) How do you get in front of these people?(16:19) To work with you, do I need to live near you?(20:52) What are some big goals we have for the next year or two?(22:08) What do you think is the number one roadblock that's stopping you from getting those goals?(27:25) One of the things I was going to ask is, how have you found overcoming financial obstacles?(31:04) Did you find that you went online more? That your business went online?(34:48) What is some of the best advice that you have ever received?(38:31) What's the best advice that you have ever given?(42:21) Anyway, is there anything that we haven't talked about yet that you would like to?Virginia PurnellFunnel & Visibility SpecialistDistinct Digital Marketing(833) 762-5336virginia@distinctdigitalmarketing.comwww.distinctdigitalmarketing.comwww.distinctdigitalmarketing.co

Send us a textIn this episode, we speak with an expert from an investment bank and management consulting firm that specializes in mergers and acquisitions (M&A), business brokering, and capital raises. With years of experience in technology innovation and professional services, the guest takes us through their background, starting with Accenture, Countrywide Financial, and BofA, before founding their own firm over seven years ago.The discussion focuses on current M&A trends, including the challenges and opportunities in a volatile economy, with a special emphasis on the aging baby boomer generation and the increasing number of small businesses poised for retirement. The speaker also touches on the rise of private equity-held companies and their impact on M&A activity.Additionally, the guest shares insights on how they help family offices navigate both buying and selling, including a recent high-value transaction involving a family-owned business transitioning across generations. This episode is a deep dive into the complexities of M&A and the strategies driving successful deals in uncertain times.

Family business succession is not just about changing the leadership; it's a delicate balancing act between maintaining the legacy and embracing innovation. Both founders and successors face the challenges of navigating deep personal attachments, generational differences, and the emotional weight of letting go and stepping up. A genuine succession requires more than a solid plan: it demands trust, humility, and the discipline to lead by example.  Joining us today is Dimitri Sidiropoulos. Dimitri is a son, husband, father of three, and a second-generation leader in the construction industry. At Delphi, a company specializing in heavy mechanical infrastructure work, Dimitri plays a key role in leading the team to continue building on a legacy of quality and innovation. Dimitri's primary focus is on team building, business development, and cultivating a strong company culture. Dedicated to creating an environment where collaboration, continuous growth, and mutual respect are prioritized, Dimitri works to ensure that every team member has the resources and support needed to succeed. Throughout the conversation, Dimitri and I discussed the following topics about the strategic art of family business succession: myths of a family business, maintaining high standards, creating space for further employee advancements, expecting and handling conflict in a family business, succession planning: legacy vs. innovation, the shift from doing to leading, leading by example, and the importance of maintaining open communication with employees.  HIGHLIGHTS [02:01] Myths of family business.  [06:29] The importance of maintaining high standards.  [14:05] Building long-term client relationships with personal connections.  [16:07] Handling conflicts in a family business.  [21:28] Succession Planning: Leading with curiosity and trust.  [30:20] Dimitri's succession plan and the development of future leaders.  [38:59] Leading by example and personal growth.  [41:32] Visiting job sites and maintaining an open communication with employees.   KEY TAKEAWAYS Build a growth culture, not just a growth plan.  Go beyond the contract. Position your team as problem-solvers and collaborators.  Expect conflict. Step back when needed, cool down, and revisit the conversation later. Respect experience. Learn the lesson before you dismiss them.  Expect the discomforts in transition and embrace them as parts of growth.    RESOURCES Connect with Dimitri Sidiropoulos LinkedIn – https://linkedin.com/in/dimitri-sidiropoulos-b4485190/                      https://linkedin.com/company/delphiph/  Website Copy - https://delphiph.com/      90-Day High-Performance Dashboard You can't afford to let your people drift. To drive real performance, you must coach with clarity and purpose.   Use the 90-Day High-Performance Dashboard to: Get clear on what matters most. Drive focused action and accountability. Strengthen trust and deepen relationships.   Success doesn't happen by accident. It happens when leaders coach with precision and consistency. Download the 90-Day High-Performance Dashboard here: https://www.constructiongenius.com/high-performance-in-a-new-role Coach your team toward real results — one conversation at a time.     Resources to Help You Win in Construction

In this episode, host Rob Wermuth sits down with Dirk Simpson, a seasoned attorney and Partner at Royer Cooper Cohen Braunfeld LLC, for a practical and insightful look at the challenges and opportunities facing business owners and families planning for the future. They unpack what it really means to start early when it comes to succession planning, break down the role of trusts and gifting strategies, and explore how recapitalization can fit into a broader long-term wealth plan. Whether you're thinking about selling a business, transferring wealth, or simply making sure your assets reflect your family's values, this episode is packed with real-world examples and thoughtful takeaways to help guide the journey. ​​______________​​______________​​ Legacy Planning- 3440 Hamilton Blvd Allentown, PA 18103 and 228 W Gay Street West Chester, PA 19380  610-719-8600 www.legacy-online.com Securities and advisory services offered through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser. 

Georgi Feidler helps Baby Boomers in business navigate succession planning. Her passion is ensuring that business legacies continue successfully by equipping owners (and long-term employees) with the right strategies to transition leadership smoothly and intentionally. Today she discusses: Why succession planning isn't part of business education Why it's important Maturepreneurs know it's a shorter time from start to finish The pros and cons of “experiential knowledge” What to start doing now to make your business saleable… or inheritable. Using AI to create succession notes Big businesses and “moms & pops” Brick and mortar & online businesses If you're a Boomer business owner – or long-term employee – in these challenging times, you'll appreciate Georgi's tips and explanations. Listen now and then share this episode! Find Georgi at https://hiretraininspire.com/ Learn more about Georgi and find all her links at https://boomwithabang.com/the-boomer-womans-podcast-georgi-feidler/  

What does it mean to treat all family members fairly in terms of wealth distribution?  John and Michael Parise dive into the complexities of estate equalization within family businesses. In this episode, they unravel a recent case study highlighting the challenges faced when generational wealth intersects with family dynamics. Listeners are in for a detailed … Read More Read More

In this all-new episode of Absolute Trust Talk, Kirsten Howe and her associates, Jessica Colbert and Ariana Flynn, delve into the complex estate battle surrounding the late San Diego Padres owner, Peter Seidler. The MLB team finds itself at the center of a legal dispute as Seidler's wife, Sheel, contends with his brothers over control of the franchise. With allegations of breached trust, fraud, and self-dealing, the case highlights the intricacies of estate planning for high-net-worth individuals and the potential pitfalls of ambiguous or informal documentation. While largely speculation, the conversation also explores the crucial role of trustee selection and the challenges of navigating ownership agreements in the context of professional sports. Tune in for expert insights on safeguarding your legacy, minimizing the risk of litigation, and ensuring your estate plan is as airtight as your favorite team's defense.   Time-stamped Show Notes: 0:00 Introduction 1:08 To kick things off, let's dive into the complex estate battle of the late San Diego Padres owner, Peter Seidler. Listen in for a discussion of how Seidler's wife, Sheel, takes on his brothers in a heated legal fight to control the MLB team. 1:20 Breached trust, fraud, and self-dealing - the hosts break down the allegations and their implications for estate planning. 3:00 Next, let's examine the role of the Padres' "control person" and how it complicates the case and its potential outcome. 4:06 The function of a trustee is vital in estate planning. Here are some tips on how to avoid family feuds and ensure impartiality in estate administration. 7:05 Learn how Major League Baseball's unique ownership regulations can complicate estate planning for team owners. 7:59 Handwritten wills and informal estate documents: Why they often lead to legal disputes and how to avoid them. 9:12 Tune in now for what you need to know about recognizing the importance of following proper legal procedures to ensure estate plans are legally sound and enforceable. 10:36 Gain insights into how emotional reactions and unexpected human behavior can significantly impact estate disputes and learn strategies to mitigate these risks. 11:03 Key takeaways from the Padres' estate battle for creating effective and resilient estate plans.

Is your “Fourth Quarter” of life filled with purpose—or just pressure? Executive coach Scott Couchenour helps leaders over 50 design a future they won't regret. In this episode of Succession Stories, host Laurie Barkman talks with Scott about his journey from burnout to breakthrough, and how he now guides others through mid-life reinvention with intention and clarity. Perfect for business owners and executives navigating succession or personal transition, this conversation will inspire you to turn uncertainty into opportunity.

Are you trapped in the cycle of working more hours but seeing less profit?   In this eye-opening episode, we explore the transformative journey of Lisa, a marketing consultant who went from working 70+ hour weeks and missing her daughter's birthday to running a thriving business on just four days a week while doubling her income.   Discover the three-part strategy that changed everything for Lisa: How implementing Profit First (even at just 1% initially) transformed her relationship with money Why establishing a Bank On Yourself policy gave her the confidence to transform her client relationships The exact script she used to transition from hourly billing to value-based pricing that tripled her rates   We also address common objections from business owners in various industries, with examples of how they adapted these strategies to their unique situations.   Key Quote: "The real transformation wasn't just in Lisa's bank account but in her relationship with both money and time. She no longer feels owned by her business or controlled by client demands."   Whether you're drowning in client work, struggling with inconsistent cash flow, or simply tired of missing life's important moments, this episode provides a practical roadmap to working less while earning more.   Want more? Get our "Work Less, Earn More" case study pack in the Wealth Wisdom Financial Community by becoming a premium member here: https://www.wealthwisdomfp.com/community.   00:00 Introduction to Sam's Story 00:40 Welcome to Wealth Wisdom Financial Podcast 01:33 The Importance of Long-Term Tax Planning 03:03 Planning for a Business Sale 08:32 Estate Planning and Business Succession 12:29 Retirement Tax Planning for Business Owners 19:13 Conclusion and Next Steps   Watch On YouTube: https://youtu.be/1pGip0hlQeU 

In this special episode of Swiss Money Secrets, we explore the legacy and evolution of WHVP, a family-owned Swiss wealth management firm dedicated to helping Americans protect and preserve their wealth offshore. Join us for an in-depth conversation between WHVP's founder, Robert Vrijhof, and second-generation Managing Partner, Jamie Vrijhof-Droese, as they share the story behind the firm's success and values.Robert reflects on what motivated him to start WHVP over 30 years ago, the challenges he faced building a boutique firm from the ground up, and the key moments that shaped its reputation. Jamie offers insights into stepping into leadership, the responsibilities and emotions involved in taking over a family business, and how she has modernized the firm while maintaining its core values of trust, transparency, and personalized service.Together, they discuss the unique opportunities and challenges of family business succession, balancing tradition with innovation, and advice for other family businesses planning generational transitions. They also share their vision for the future of WHVP and the evolving landscape of Swiss banking, highlighting the importance of long-term wealth preservation and international diversification.Whether you're interested in offshore banking, family business leadership, or safeguarding your financial future, this conversation offers valuable insights and inspiration.00:00 Intro00:32 Gold's Record New High02:42 The Origin Story Of WHVP07:46 Challenges Faced Over Time09:50 Key Moments In The Early Days11:15 Challenges And Key Moments In The Second Generation 15:38 An Import Idea For Americans 17:40 How Family Values Have Influenced WHVP 19:40 Passing The Torch: Challenges & Triumphs 25:02 How Our Founder Sees The Current Team25:40 The Power Of Trust In The Client Relationship30:11 Who Does WHVP Help? 30:48 What The Employees Think Of The Company 33:44 The Evolution Of Wealth Management Where Its Going 46:00 Tips For Family Business Owners Thinking About The Next GenerationContact WHVP: Website: https://whvp.ch/ Email: info@whvp.chinfo@whvp.ch Telephone: +41 44 315 77 77 Schedule a Meeting: https://whvp.ch/get-started About WHVP: WHVP is not just another asset manager. We are an independent firm specializing in managing the funds of private clients. Registered with the SEC in the U.S. and located in Zurich, Switzerland, we are associated with several first-class private banks in Switzerland and Liechtenstein, which serve as custodian banks for our clients' accounts. Our asset management principles are rooted in conservative, long-term-oriented capital preservation strategies. We prioritize personalized service, crafting portfolios that are shielded against U.S. Dollar depreciation while leveraging overseas investment opportunities. Disclaimer: All posts and publications are for your information only and are not intended as an offer, promotion, or solicitation to buy or sell any financial instrument or perform any other financial transactions. All information and opinions expressed in posts and publications reflect our current views as of the date of the publication and may be liable to change without notice.

Could your current tax strategies be creating a ticking time bomb for your future? Sam built a successful business for 30 years. Then, he lost nearly half their $2 million sale price to unexpected taxes. In this forward-thinking episode, we explore tax planning beyond just this year's return. You'll discover: Three critical tax-planning timeframes most business owners completely ignore How to structure your business today to save taxes when you eventually sell Estate planning strategies that protect your business legacy from excessive taxation The surprising ways business profits can increase your Medicare costs in retirement Key Quote: "The tax strategies that work great for your business today might actually set you up for bigger tax headaches down the road." Listen now to learn how you can develop a comprehensive tax strategy that serves your business well through every life stage. Get your free "Business Owner's Legacy Planning Guide" in the Wealth Wisdom Financial Community. www.wealthwisdomfp.com/community     00:00 Introduction to Sam's Story 00:40 Welcome to Wealth Wisdom Financial Podcast 01:33 The Importance of Long-Term Tax Planning 03:03 Planning for a Business Sale 08:32 Estate Planning and Business Succession 12:29 Retirement Tax Planning for Business Owners 19:13 Conclusion and Next Steps   Watch on YouTube here: https://youtu.be/0aMY5WxljCc 

Business Succession: Inherited Trauma and Family Wealth - Generational Wealth and Financial Successhttp://www.ValuationPodcast.com  https://www.valuationmediation.com  Welcome to ValuationPodcast.com, where we explore the intricate world of business valuation and the complex dynamics of family wealth. I'm Melissa Gragg, a seasoned valuation expert and divorce financial mediator from St. Louis, Missouri. Today, we delve into the profound topic of inherited trauma and its influence on family wealth with special guest Ruschelle Khanna. Ruschelle, an esteemed family advisor, mediator, and therapist, brings her expertise and her new book, "Inherited Trauma and Family Wealth," to the table, discussing how deep-seated family issues can affect financial security and business succession.Questions Discussed: Can you explain what inherited trauma is and how it specifically impacts financial behaviors?What is the impact of inherited trauma / generational patterns on our financial well-being?What is one immediate step someone can take today to break free from generational financial trauma?How can people create a new financial legacy without guilt or fear of repeating past mistakes?If you could give one piece of advice to someone trying to rewrite their financial story, what would it be?Key Podcast Takeaways:Understanding Inherited Trauma: Inherited trauma, as Ruschelle explains, isn't just about the psychological patterns passed down through generations; it also includes actual genetic memories and traumas that manifest in family behaviors and personal fears that seem unlinked to one's own experiences.The Impact on Financial Behavior: Inherited trauma can significantly influence financial decisions and behaviors. Ruschelle discusses how these traumas can lead to profound fears and anxieties about money, which may not always be conscious but deeply affect how individuals and families manage their wealth.Identifying Inherited Trauma: Identifying whether a fear or behavior is a result of inherited trauma can be tricky. Ruschelle suggests looking at the age when certain fears manifest—often mirroring the age of a past family trauma—as a clue to their origins.Approaching Financial Wellbeing: Ruschelle outlines practical steps for addressing inherited financial traumas, such as understanding the specific ways trauma affects one's sense of security, emotional connection to money, and ability to make sound financial decisions.Therapeutic Solutions and Family Governance: Ruschelle advocates for both traditional therapeutic approaches and practical measures like setting up strong family governance structures to manage and mitigate the effects of inherited trauma on family wealth and business operations.Connect with Ruschelle: https://www.ruschellekhanna.com/https://www.linkedin.com/in/ruschelle-khanna-lifestyle-for-legacy/Buy Ruschelle's book here:https://www.lifestyleforlegacy.com/bookConnect with Melissa:Melissa Gragg  CVA, MAFFExpert testimony for financial and valuation issues  Bridge Valuation Partners, LLC  melissa@bridgevaluation.com  http://www.BridgeValuation.com  http://www.ValuationPodcast.com  http://www.MediatorPodcast.com  https://www.valuationmediation.com  https://www.thedivorceallies.com/Cell: (314) 541-8163Support the show

For family-owned businesses, succession planning is essential. But it’s more complicated, and takes longer to achieve, than many families think. Family Business Association CEO Catherine Sayer says succession planning can take years to execute properly. Without a clear plan, businesses risk uncertainty and conflict when key leaders step away — whether due to retirement, illness, or unforeseen events. Catherine explains why early planning and open communication are crucial, offering practical steps to ensure a smooth transition for future generations. Business Essentials Daily is produced by: SoundCartelsoundcartel.com.au+61 3 9882 8333See omnystudio.com/listener for privacy information.

Send us a textEvery business owner will exit their company one day—are you prepared? In this episode, I sit down with Stuart Sorkin, a seasoned attorney, CPA, and business strategist, to break down the critical steps of business succession planning. From understanding the six exit paths to maximizing your company's value, we explore how to avoid costly mistakes and structure your transition for financial success. Stuart shares expert insights on tax strategies, retaining key employees, and the role of ESOPs in a seamless business handoff.We also dive into the impact of poor succession planning, the importance of financial foresight, and why partners must align on a shared vision. With decades of experience in M&A, tax law, and estate planning, Stuart provides actionable advice that can protect your legacy and ensure a smooth transition—whether you're selling to family, management, or an external buyer. Plus, we discuss the looming generational wealth transfer and why the next decade is pivotal for business owners.If you're serious about securing your business's future, don't miss this conversation!Connect with Stuart Sorkin:If you're a business owner thinking about succession planning, now is the time to start. Stuart Sorkin has decades of experience helping entrepreneurs navigate the complexities of business transitions, tax strategies, and legacy planning. Visit his website tRight now, you can get an extra 20% off your ticket for the Scale with Stability Summit with my exclusive code CATALYTIC20 at checkout.Visit scalewithstability.com to grab your ticket—I hope to see you there! Right now, you can get an extra 20% off your ticket for the Scale with Stability Summit with my exclusive code CATALYTIC20 at checkout.Visit scalewithstability.com to grab your ticket—I hope to see you there! Right now, you can get an extra 20% off your ticket for the Scale with Stability Summit with my exclusive code CATALYTIC20 at checkout.Visit scalewithstability.com to grab your ticket—I hope to see you there!Support the showJoin Dr. William Attaway on the Catalytic Leadership podcast as he shares transformative insights to help high-performance entrepreneurs and agency owners achieve Clear-Minded Focus, Calm Control, and Confidence. Free 30-Minute Discovery Call:Ready to elevate your business? Book a free 30-minute discovery call with Dr. William Attaway and start your journey to success. Special Offer:Get your FREE copy of Catalytic Leadership: 12 Keys to Becoming an Intentional Leader Who Makes a Difference. Connect with Dr. William Attaway: Website LinkedIn Facebook Instagram TikTok YouTube

What are some of the most common pitfalls family business owners face when planning for "The Four D's," and how can they proactively address them? In this episode of the Finish Big Podcast, Mark Dorman sits down with James Aussem, a distinguished attorney specialising in succession planning, mergers, and acquisitions. Together, they explore the challenges of planning for “The Four D's”—Death, Disability, Departure, and Discord—and share actionable strategies for family businesses to navigate transitions successfully. James discusses his journey from a tax attorney at Ernst & Ernst to a career dedicated to helping entrepreneurs and family business owners. He provides insights into why closely held family businesses require unique planning approaches, touching on key considerations like ownership requirements, business sustainability, and equity among family members. Mark and James discuss: Death, Disability, Departure, and Discord – The essential planning considerations for business owners. The Three W's for Family Businesses: What do current owners need? What can the business afford? What is fair for all stakeholders? Mistakes to Avoid in Succession Planning – How miscommunication and lack of planning can lead to failure. Baby Boomer Business Transitions – Advice for the wave of retiring entrepreneurs Connect with Mark Dorman: Succession Plus US LinkedIn: Mark Dorman LinkedIn: Succession Plus Facebook: Succession Plus (330)-416-9271 mdorman@succession.plus Connect with James Aussem: LinkedIn: James Aussem About Our Guest: James Aussem is a seasoned attorney and shareholder at Cavitch, Farmelo, and Durkin Co., L.P., specialising in succession planning, mergers and acquisitions, and estate management. With over 40 years of experience, he's a trusted advisor to family businesses, simplifying complex legal issues to deliver practical solutions. A Hall of Fame inductee by the National Association of Estate Planners & Councils, Jim is also recognised annually as one of The Best Lawyers in America. Known for his entrepreneurial mindset, Jim is dedicated to helping business owners plan for success and longevity.

Business owners face a unique set of challenges when it comes to succession planning — especially in a rapidly changing legal and economic environment. In this episode, Carma McCallie returns to discuss how tax law changes, recent Supreme Court rulings, and evolving trust strategies impact business succession planning. Discover key insights on grantor trusts, business entity conversions, and life insurance strategies to help secure the future of your business.

Thanks to our Partners, NAPA TRACS, and Today's Class Explore the complexities of family succession in automotive businesses, featuring insights from a psychologist, a shop owner, and her father, who transitioned the business to her. The discussion covers topics such as defining roles, seeking professional guidance, addressing financial considerations, establishing boundaries, and the importance of a trusted, non-family advisor during the succession process. The conversation highlights the need for business owners to relinquish control, embrace change, and recognize the value of diverse perspectives in leadership. Jessica Carrino, Sparks Tire & Auto, St. Charles, MO. Jessica's previous episodes HERE Ron Tinner, COO, Repair Shop of Tomorrow Dr. David Weiman is the president of Weiman Consulting, a leadership consulting firm in Philadelphia PA. Listen to David's previous episodes HERE Show Notes Watch Full Video Episode Introduction to Family Succession (00:00:00) Importance of Defined Roles (00:02:22) Dr. Weiman's Insights on Family Businesses (00:03:15) Clarity in Decision-Making (00:06:02) Ron Tinner's Transition Story (00:07:29) Jessica's Initial Involvement (00:09:00) Coaching Dynamics (00:10:21) Jessica's Greatest Challenge (00:11:07) Motivating Gen Z Technicians (00:12:38) Finding Young Technicians (00:15:59) Challenges of Inheriting Staff (00:16:56) Boundaries in Family Business (00:17:53) Succession Planning Insights (00:20:01) Role of Non-Family Advisors (00:21:08) Identifying Successors (00:22:06) Family Dynamics and Relief (00:24:06) Financial Considerations in Succession (00:25:11) Understanding Roles in Succession (00:25:26) The Challenge of Letting Go (00:28:49) Work-Life Balance for Owners (00:29:09) Support and Learning from Failure (00:30:23) Alignment of Values (00:31:24) Understanding Communication Styles (00:33:14) Transitioning Authority (00:35:30) Succession Planning Insights (00:35:58) Future Considerations (00:36:59) Annual Succession Review (00:37:38) Thanks to our Partner, NAPA TRACS NAPA TRACS will move your shop into the SMS fast lane with onsite training and six days a week of support and local representation. Find NAPA TRACS on the Web at http://napatracs.com/ Thanks to our Partner, Today's Class Optimize training with Today's Class: In just 5 minutes daily, boost knowledge retention and improve team performance. Find Today's Class on the web at

In this episode of Business Growth Talks, Mark Hayward sits down with Daryl Bates-Brownsword, a business succession and exit planning specialist. Daryl shares his insights on helping business owners maximize the value of their companies and transition on their terms. With over 20 years of experience building multi-million turnover international businesses, Daryl provides a wealth of knowledge on strategy, leadership, and business scalability.What You'll Learn in This Episode:✅ The importance of having an exit strategy from the very start of your business.✅ The five stages of business exit planning and why 55% of business exits are unplanned.✅ How to ensure your business is exit-ready to attract buyers and maximize valuation.✅ The key inflection points in business growth and how to overcome common scaling challenges.✅ Different exit strategies, including selling to employees, hiring a CEO, and selling to a larger company.✅ Why being too involved in your business can hurt its valuation and how to delegate effectively.Resources & Links:

For family-owned businesses, the transfer of the company from generation to generation is a profound event. To explore generational business succession, WFI Broadcast welcomes Ted Corman of Firehouse Image Center, and Eric Kahle of Visual Marking Solutions.

Canadian Business Owner? Learn how to generate personal tax free cash flow from your corporation? Enroll in our FREE masterclass hereAre you a Canadian business owner wondering how to pass your company on to the next generation without sparking a feud or losing its value?Succession planning isn't just about choosing who takes over your Canadian business—it's about ensuring the transition is smooth, fair, and financially sound for everyone involved. Many Canadian business owners overlook the complexities of dividing ownership between children or partners, leading to tension, forced sales, or unexpected tax burdens. In this episode, we tackle the emotional and financial challenges of Canadian business succession planning, showing you how to protect both your legacy and family harmony.Imagine having a structure in place that not only ensures your business continues to thrive but also fairly compensates all your heirs—even if only one of them takes over the reins. We dive into the strategies that make this possible, focusing on how to use corporate-owned whole life insurance policies to create liquidity, reduce tax burdens, and prevent family conflicts.What you'll learn: Discover how to fairly distribute business assets among multiple heirs without forcing a sale.Learn how corporate-owned whole life insurance can create tax-free payouts that balance inheritance for non-business-involved family members.Understand how to leverage your business's retained earnings to fund succession plans without hurting cash flow.Ready to secure your business legacy and family's future? Join our free self-paced masterclass at https://canadianwealthsecrets.com/masterclass to start planning your seamless succession today!Book a Discovery Call with Kyle to review your corporate (or personal) wealth strategy to help you overcome your current struggle and take the next step in your Canadian Wealth Building Journey! https://canadianwealthsecrets.com/discovery Canadian Wealth Secrets Show Notes Page:Consider reaching out to Kyle if you've been……taking a salary with a goal of stuffing RRSPs;…investing inside your corporation without a passive income tax minimization strategy;…letting a large sum of liquid assets sit in low interest earning savings accounts;…investing corporate dollars into GICs, dividend stocks/funds, or other investments attracting corporate passive income taxes at greater than 50%; or,…wondering whether your current corporate wealth management strategy is optimal for your specific situation.Are you a business owner facing the challenges of business succession planning and wondering how to secure your family business without sparking conflicts? In this episode, we dive into legacy planning strategies that address family dynamics, using whole life insurance to create taxReady to connect? Text us your comment including your phone number for a response! Canadian Wealth Secrets is an informative podcast that digs into the intricacies of building a robust portfolio, maximizing dividend returns, the nuances of real estate investment, and the complexities of business finance, while offering expert advice on wealth management, navigating capital gains tax, and understanding the role of financial institutions in personal finance.

Segment 1 with Karla Trotman starts at 0:00.As Baby Boomers prepare to retire, family-owned businesses across the nation are at a pivotal crossroads. Transitioning leadership and ownership is a complex process, often more challenging in family-run businesses, especially for Black-owned enterprises that face unique obstacles in succession planning and recognition.Karla Trotman, who CEO of Electro Soft, Inc.,a Black-owned electronics manufacturing company, has first-hand experience with all these challenges.With her own story of leading Electro Soft, Inc. through COVID-19 and a long transition process, Karla brings a wealth of personal experience and practical advice. She is also the author of "Dark, Dirty, Dangerous: The Vibrant Future of Manufacturing", where she explores how diversity and inclusion can redefine American manufacturing.Segment 2 with Kate Gladdin starts at 22:01.I have talked about the importance of resiliency every since I wrote my second book called "Bounce!: Failure, Resiliency, and Confidence to Achieve Your Next Great Success".Kate Gladdin is an international speaker, certified life coach, resilience specialist, and podcast host. Named one of Australia's 100 Women of Influence. A native of Sydney, Australia, she now makes her home in Wyoming with her husband, Nate, and enjoys playing in the snow with their pup, Jaku.Become a supporter of this podcast: https://www.spreaker.com/podcast/the-small-business-radio-show--3306444/support.

https://www.youtube.com/live/34XTxCC807g In seventh grade, Mark Anderson mowed lawns for $3.50 a yard, saving diligently for his first major purchase—his future wife Amy's engagement ring. Fast forward to today, Mark and Amy Anderson, founders of Anderson Technologies and Anderson Archival, are passing down a much larger legacy: a thriving multi-generational business. Their story, filled with grit, humility, and purpose, offers profound insights for business owners planning the delicate handoff from one generation to the next. The Power of Multi-Generational BusinessThe Founding Story: Building with PurposeGrowing a Family While Growing a BusinessInviting the Next Generation: Creating Opportunity Without PressureThe Transition Process: Planning for SuccessThe Role of Legacy and Long-Term VisionA Roadmap for Multi-Generational SuccessBook A Strategy Call The Power of Multi-Generational Business Transitioning a business from one generation to the next is not merely a transaction; it's a journey. It's about more than dollars, contracts, or even systems. It's about preserving passion, fostering innovation, and creating a legacy that spans decades. As Mark and Amy shared on The Money Advantage Podcast, their experience highlights key strategies for navigating this process with intention and grace. Whether you're the founding generation or preparing to take the reins, this article will guide you through the pivotal moments of transitioning a family business. By the end, you'll feel inspired and equipped to foster generational success while ensuring your business thrives in capable hands. The Founding Story: Building with Purpose For Mark and Amy, entrepreneurship began with a shared passion for problem-solving and a knack for technology. Starting Anderson Technologies in 1995, they combined their unique strengths—Mark's entrepreneurial mindset and Amy's technical expertise. From humble beginnings in their home office, they built a business focused on serving others, whether managing IT systems or preserving priceless family archives. Their story reminds us that successful businesses start with a commitment to solving real problems and serving people, a foundation crucial for enduring success. As Amy aptly said, "Small business is the backbone of America." And with that ethos, they instilled purpose and pride into their work from day one. Growing a Family While Growing a Business Starting a family while running a business added complexity—but also clarity. For the Andersons, family always came first. They transitioned to a separate office space, carefully balancing the demands of entrepreneurship with parenting. A pivotal decision was fostering their children's understanding of the business without pressuring them into it. “We didn't want the business to ruin our kids' lives,” Amy reflected. Instead, they modeled hard work, character, and the joy of serving others through their work—values that naturally attracted their children to consider joining the business. Their story shows that the early years of business ownership aren't just about building systems; they're about building values that can be passed on to the next generation. Inviting the Next Generation: Creating Opportunity Without Pressure For years, Mark and Amy assumed they would sell their business. That changed when their daughter Hadley and son-in-law Corbett surprised them with a question: “Would you ever consider letting us join the business?” Rather than offering immediate ownership or privileges, the Andersons maintained a structured approach. Hadley and Corbett applied for roles within the company anonymously, undergoing the same rigorous hiring process as any other candidates. This ensured respect from the existing team and set the stage for them to earn their positions through merit. This careful balance—providing opportunity without entitlement—is a model for any family business.

Join me on this episode of the Ready App Podcast as I chat with Laurie Barkman about the crucial steps in creating a sellable asset for your business. We dive into the impact of a solid exit strategy and how to prepare well in advance to make your business more attractive to buyers. Laurie shares valuable insights from her extensive experience in mergers and acquisitions, offering actionable steps for business owners to ensure their business is both valuable and transferable.GUEST RESOURCESLaurie Barkman, a former CEO and M&A advisor, guides business owners towards successful exits. She founded The Business Transition Sherpa® to provide transition advisory and coaching. Laurie is also an author, adjunct professor, and podcast host, sharing her expertise on business transition, succession, and entrepreneurship.Get a free digital copy of the Amazon best-selling book, "The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options” https://thebusinesstransitionsherpa.com/the-business-transition-handbookhttps://www.linkedin.com/in/lauriebarkmanhttps://linktr.ee/businesstransitionsherpa  Forge Your Path. Unlock Your Power. Unleash Your Potential. You're invited to join me on a journey in January 2025! Intention IgnitedFuel Your Focus

In this captivating episode, hosts Robin and Al sit down with Jon Shell, Chair of Social Capital Partners, for a compelling conversation about the transformative potential of employee ownership and the stakes involved. Jon takes us on his journey from the private sector to championing public policy changes that support Employee Ownership Trusts (EOTs) in Canada. Together, they explore how EOTs can preserve businesses, empower employees as owners, and create a more equitable economy. Tune in to discover the benefits, challenges, and profound impact employee ownership could have on wealth distribution and economic resilience in Canada."You can't salary your way to wealth." ~ Jon ShellKey Takeaways:Economic Resilience: Employee ownership enhances job security, loyalty, and company performance, particularly during economic downturns.Public Policy and Wealth Distribution: Policy initiatives, like those supported by the Canadian Employee Ownership Coalition, are key to broadening access to wealth and fostering economic change.Succession Planning with EOTs: Employee Ownership Trusts (EOTs) offer a tax-advantaged, sustainable succession option for business owners, with the first $10 million in capital gains being tax-free in Canada.Ideal Candidates and Growing Interest: Stable, mature companies with strong cash flow are well-suited for EOTs, reflecting the growing interest in employee ownership across Canada.Brought to you by Aria Benefits and Life & Legacy Advisory Group

Episode 305 - It has never been a more important time to consider business succession planning for small business owners to ensure that their financial security, retirement and family legacy plans are fulfilled.

In this episode, Dr. Friday emphasizes the need for business succession planning, highlighting its importance for S corporations, LLCs, and sole proprietorships. She urges listeners to document their plans, ensuring a smooth transition of assets and responsibilities in the event of unexpected circumstances. Proper planning can protect your family's financial future and preserve your business. Don't wait—make sure your succession plan is in place. Transcript: G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info go to www.drfriday.com. This is a one-minute moment. We don’t talk a lot about it but business succession planning. If you’re dealing with a tax person you should also be talking about what will happen if something happens to you, me, or whatever. Do you have a plan that’s going to go in place that says this is how this is going to go? I want this person to take over the stocks if this is an S corporation. I want them to inherit the members if it’s an LLC. If it’s a sole proprietorship, how are you going to do succession planning? Is this all documented? Remember none of us are going to be here forever. We none know when it’s gonna happen so planning is the only way you’re gonna put more money in your family’s pocket if something happens. You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN.

In this episode of Financial Decoder, host Mark Riepe delves into the key aspects of succession planning for business owners, including how our behavioral tendencies may influence the decisions we make around a business's future. He's joined by Austin Jarvis, a director of estate, trust, and high-net-worth tax at the Schwab Center for Financial Research, to discuss the unique challenges faced by business owners when keeping a business within the family versus selling to a third party. Austin highlights the need for proper documentation, the role of specialists, and the impact of cognitive and emotional biases on the different steps of the process. He references real-life examples that illustrate the complexities of business transitions, underscoring the necessity of a well-thought-out succession plan.Resources mentioned by Mark in the episode:"Business Succession: 3 Ways to Transfer Your Business""How to Handle an Inherited Business""How to Plan, Launch, and Maintain a Business""5 Takeaways from TV's Succession"Schwab Small Business SolutionsSchwab Trust, Estate & CharitableSchwab Wealth AdvisoryFollow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Reach out to Mark on X @MarkRiepe with your thoughts on the show.Follow Financial Decoder on Spotify to comment on episodes.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed.  Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.  Investing involves risk, including loss of principal.The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information.All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.Schwab Wealth Advisory™ ("SWA") is a non‐discretionary investment advisory program sponsored by Charles Schwab & Co., Inc. ("Schwab"). Schwab Wealth Advisory, Inc. ("SWAI") is a Registered Investment Adviser and provides portfolio management for the SWA program. Schwab and SWAI are affiliates and are subsidiaries of The Charles Schwab Corporation.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.(1024-YWBA)

Join us as we dive deep into wealth management, estate planning, and legacy creation with expert Sandy Pollack. In this insightful episode, Sandy shares her experience working with entrepreneurs, business owners, and self-employed professionals to ensure smooth transitions for family businesses. We explore how to build lasting wealth, plan for financial independence, and manage business succession across generations. Sandy discusses the difference between income and wealth, the importance of having intentional conversations around legacy, and strategies to avoid leaving a financial mess behind. To check out Sandy's book, "Don't Leave a Mess!: How to Disaster-Proof Your Family Legacy", head on over to Amazon (affiliate): https://amzn.to/4epNqEp Disclaimer: Not advice. Educational purposes only. Not an endorsement for or against. Results not vetted. Views of the guests do not represent those of the host or show. Do your due diligence. Click here to join PodMatch (the "AirBNB" of Podcasting): https://www.joinpodmatch.com/drchrisloomdphd We couldn't do it without the support of our listeners. To help support the show: CashApp- https://cash.app/$drchrisloomdphd Venmo- https://account.venmo.com/u/Chris-Loo-4 Spotify- https://podcasters.spotify.com/pod/show/christopher-loo/support Buy Me a Coffee- https://www.buymeacoffee.com/chrisJx Click here to schedule a 1-on-1 private coaching call: https://www.drchrisloomdphd.com/book-online Click here to check out our e-courses and bookstore here: https://www.drchrisloomdphd.com/shop Click here to purchase my books on Amazon: https://amzn.to/2PaQn4p For audiobooks, visit: https://www.audible.com/author/Christopher-H-Loo-MD-PhD/B07WFKBG1F Follow our YouTube channel: https://www.youtube.com/chL1357 Follow us on Twitter: https://www.twitter.com/drchrisloomdphd Follow us on Instagram: https://www.instagram.com/thereal_drchrisloo Follow us on Threads: https://www.threads.net/@thereal_drchrisloo Follow us on TikTok: https://www.tiktok.com/@drchrisloomddphd Follow our Blog: https://www.drchrisloomdphd.com/blog Follow the podcast on Spotify: https://open.spotify.com/show/3NkM6US7cjsiAYTBjWGdx6?si=1da9d0a17be14d18 Subscribe to our Substack newsletter: https://substack.com/@drchrisloomdphd1 Subscribe to our Medium newsletter: https://medium.com/@drchrisloomdphd Subscribe to our email newsletter: ⁠https://financial-freedom-for-physicians.ck.page/b4622e816d⁠ Subscribe to our LinkedIn newsletter: https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=6992935013231071233 Thank you to our advertisers on Spotify. Financial Freedom for Physicians, Copyright 2024 --- Support this podcast: https://podcasters.spotify.com/pod/show/christopher-loo/support

Rexford is president of Keats Group LLC, a comprehensive financial advisory firm. He works with successful families and family businesses to implement effective income planning, tax planning, and asset protection solutions that are administratively practical. He manages our service relationships with specialists for complex tax and estate planning, business transitions, and company retirement benefit planning.He writes and speaks on various succession and compensation planning topics for professionals and business owners. He is the lead author of InBusiness™, which features topics of planning interest to Private Clients.Mr. Cattanach has served on community boards and other leadership roles in the Twin Cities, including the Board of Directors of Lakeview Health, a sole corporate member of HealthPartners health system, where he was chair of the physician and executive compensation committee, a member of the finance committee and the ad hoc committee overseeing the Lakeview Health integration with HealthPartners.Rexford is a fiduciary, independent financial advisor who has completed over one hundred business valuations and transitions. He has volunteered as an academic tutor and mentor to at-risk K-12 children at Good Neighbor Center in Saint Paul, Minnesota for 19 years. To recharge, he enjoys the quiet scenery of trail hiking, road biking, and Nordic skiing.Learn More: https://www.keatsgroup.com/Keats Group LLC is a comprehensive financial services company that provides investment, tax and estate planning, asset protection, and pre- and post-sale guidance to private clients and business families. Keats Group and its agents and employees do not provide legal or tax advice. Investment services are offered as a fiduciary Independent Advisor Representative of Advisor Share Wealth Management, a Registered Investment Advisor (RIA), upon completing a signed Service Agreement.Influential Entrepreneurs with Mike Saundershttps://businessinnovatorsradio.com/influential-entrepreneurs-with-mike-saunders/Source: https://businessinnovatorsradio.com/interview-with-rexford-cattanach-president-of-keats-group-discussing-working-with-cpas-on-business-succession

Rexford is president of Keats Group LLC, a comprehensive financial advisory firm. He works with successful families and family businesses to implement effective income planning, tax planning, and asset protection solutions that are administratively practical. He manages our service relationships with specialists for complex tax and estate planning, business transitions, and company retirement benefit planning.He writes and speaks on various succession and compensation planning topics for professionals and business owners. He is the lead author of InBusiness™, which features topics of planning interest to Private Clients.Mr. Cattanach has served on community boards and other leadership roles in the Twin Cities, including the Board of Directors of Lakeview Health, a sole corporate member of HealthPartners health system, where he was chair of the physician and executive compensation committee, a member of the finance committee and the ad hoc committee overseeing the Lakeview Health integration with HealthPartners.Rexford is a fiduciary, independent financial advisor who has completed over one hundred business valuations and transitions. He has volunteered as an academic tutor and mentor to at-risk K-12 children at Good Neighbor Center in Saint Paul, Minnesota for 19 years. To recharge, he enjoys the quiet scenery of trail hiking, road biking, and Nordic skiing.Learn More: https://www.keatsgroup.com/Keats Group LLC is a comprehensive financial services company that provides investment, tax and estate planning, asset protection, and pre- and post-sale guidance to private clients and business families. Keats Group and its agents and employees do not provide legal or tax advice. Investment services are offered as a fiduciary Independent Advisor Representative of Advisor Share Wealth Management, a Registered Investment Advisor (RIA), upon completing a signed Service Agreement.Influential Entrepreneurs with Mike Saundershttps://businessinnovatorsradio.com/influential-entrepreneurs-with-mike-saunders/Source: https://businessinnovatorsradio.com/interview-with-rexford-cattanach-president-of-keats-group-discussing-working-with-cpas-on-business-succession

As Asia's leading fee-only wealth advisory firm, we understand the challenges faced by business owners who are focused on growing their enterprises and may not have had the chance to develop a comprehensive business exit and succession plan.In this week's Money Wisdom episode, Isaac interviews Jerome Song, Associate Director of Business Exit at Providend, about the critical aspects of a successful succession plan, including preparing future leaders and retaining top talent during what can be a challenging transition.With over two decades of experience in finance, mergers and acquisitions, strategy, and people development, Jerome discusses how he partners with business owners to determine if a family member is suitable to succeed the business. He also cites successful succession planning case studies from companies such as Apple and Bengawan Solo.You may also be interested in an earlier podcast where Jerome discusses how Benny Se Teo, founder of Eighteen Chefs, successfully exited his business, highlighting the importance of accurate business valuation and finding the right buyer to ensure business continuity and employee welfare.Through deep conversations with our advisers, you will gain clarity on what matters most in life and what needs to be done to live a good life, both financially and non-financially. Reach out to us today to start crafting your tailored business exit plan, integrating it into your personal wealth plan: https://providend.com/our-clients/service-enquiry-form/Stay tuned for our next episode, where Isaac interviews Evelyn, our Deputy CEO & Chief Advisory Officer, on the topic of Advanced Planning!Music courtesy of ItsWatR.The host of this episode, Isaac Ong, is a Client Adviser at Providend, the first fee-only wealth advisory firm in Southeast Asia and a leading wealth advisory firm in Asia.The full list of Providend's Money Wisdom podcast episodes from Season 3 can be found here.Did you know that our Providend's Money Wisdom podcast is now available in video format on YouTube? Follow us on our YouTube channel for new episode on Thursday at 8pm.Mentioned in this episode:Subscribe to Our Mailing List Today!If you're interested in getting more of our thought leadership contents, click this link to subscribe to our newsletter today: https://providend.com/#newsletter-subscribe

Rexford is president of Keats Group LLC, a comprehensive financial advisory firm. He works with successful families and family businesses to implement effective income planning, tax planning, and asset protection solutions that are administratively practical. He manages our service relationships with specialists for complex tax and estate planning, business transitions, and company retirement benefit planning.He writes and speaks on various succession and compensation planning topics for professionals and business owners. He is the lead author of InBusiness™, which features topics of planning interest to Private Clients.Mr. Cattanach has served on community boards and other leadership roles in the Twin Cities, including the Board of Directors of Lakeview Health, a sole corporate member of HealthPartners health system, where he was chair of the physician and executive compensation committee, a member of the finance committee and the ad hoc committee overseeing the Lakeview Health integration with HealthPartners.Rexford is a fiduciary, independent financial advisor who has completed over one hundred business valuations and transitions. He has volunteered as an academic tutor and mentor to at-risk K-12 children at Good Neighbor Center in Saint Paul, Minnesota for 19 years. To recharge, he enjoys the quiet scenery of trail hiking, road biking, and Nordic skiing.Learn More: https://www.keatsgroup.com/Keats Group LLC is a comprehensive financial services company that provides investment, tax and estate planning, asset protection, and pre- and post-sale guidance to private clients and business families. Keats Group and its agents and employees do not provide legal or tax advice. Investment services are offered as a fiduciary Independent Advisor Representative of Advisor Share Wealth Management, a Registered Investment Advisor (RIA), upon completing a signed Service Agreement.Influential Entrepreneurs with Mike Saundershttps://businessinnovatorsradio.com/influential-entrepreneurs-with-mike-saunders/Source: https://businessinnovatorsradio.com/interview-with-rexford-cattanach-president-of-keats-group-discussing-business-succession-planning

Rexford is president of Keats Group LLC, a comprehensive financial advisory firm. He works with successful families and family businesses to implement effective income planning, tax planning, and asset protection solutions that are administratively practical. He manages our service relationships with specialists for complex tax and estate planning, business transitions, and company retirement benefit planning.He writes and speaks on various succession and compensation planning topics for professionals and business owners. He is the lead author of InBusiness™, which features topics of planning interest to Private Clients.Mr. Cattanach has served on community boards and other leadership roles in the Twin Cities, including the Board of Directors of Lakeview Health, a sole corporate member of HealthPartners health system, where he was chair of the physician and executive compensation committee, a member of the finance committee and the ad hoc committee overseeing the Lakeview Health integration with HealthPartners.Rexford is a fiduciary, independent financial advisor who has completed over one hundred business valuations and transitions. He has volunteered as an academic tutor and mentor to at-risk K-12 children at Good Neighbor Center in Saint Paul, Minnesota for 19 years. To recharge, he enjoys the quiet scenery of trail hiking, road biking, and Nordic skiing.Learn More: https://www.keatsgroup.com/Keats Group LLC is a comprehensive financial services company that provides investment, tax and estate planning, asset protection, and pre- and post-sale guidance to private clients and business families. Keats Group and its agents and employees do not provide legal or tax advice. Investment services are offered as a fiduciary Independent Advisor Representative of Advisor Share Wealth Management, a Registered Investment Advisor (RIA), upon completing a signed Service Agreement.Influential Entrepreneurs with Mike Saundershttps://businessinnovatorsradio.com/influential-entrepreneurs-with-mike-saunders/Source: https://businessinnovatorsradio.com/interview-with-rexford-cattanach-president-of-keats-group-discussing-business-succession-planning

Tune in to this episode of Hancock Talks as we explore the implications of the recent Supreme Court decision in Connelly v. U.S. on buy-selling planning. John Hancock's Tracey Ullom joins Carly Brooks as they dive into the details, including: The critical importance of a formal, well-funded buy-sell planThe potential benefits and drawbacks of an entity-redemption buy-sell arrangementKey takeaways from the Connelly case and the Supreme Court's decisionNext steps in guiding your business-owner clients through this evolving landscapeINTENDED FOR FINANCIAL PROFESSIONAL USE ONLY. NOT INTENDED FOR USE WITH THE GENERAL PUBLIC.Insurance products are issued by: John Hancock Life Insurance Company (U.S.A.), Boston, MA 02116 (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY 10595.MLINY081524604-4

Business Succession Research Completed by the University of MNOur guest for today's show is Michael Darger, U of M Extension Specialist, who focuses on community economics and Business Succession. His background in years with Economic Development agencies led him to focus on Business Retention and Expansion work, which eventually landed him at the U of M conducting and publishing important research on entrepreneurs and their exit plans.Michael and his team recently conducted some research on Minnesota companies with 5-500 employees, specifically on business transition preparedness. They received 300 responses, reaching a milestone of "statistical significance". It asked owners questions about their awareness, attitudes, aspirations and steps they've taken toward an eventual transition from their business. Some of the findings were surprising, Michael said.The most surprising was that a majority of respondents were unaware of what their selling options to employees might be. This directly correlates with whether they've had the proper advice on what their exit options could be. A large number claimed that the business would transfer internally to family members, but then many admitted that their would-be successors weren't ready or interested.When owners were asked in general how they'd rank themselves on their personal preparedness, they scored an average of 3.6 out of a possible high score of 6. Some said they were ready personally (Owner Readiness, as we call it) and some said their Business Readiness was dialed in. The responses can be explored in greater detail, to learn industry trends, company size, etc. Find the research and download the data here Listen to the episode here Support the Show.Join the Twin Cities Chapter of EPI at the 2024 Owners Forum! Learn More and Register here

“The total relationship is about making life better for the client, focusing on what they need in the next 6 to 12 months, and helping them prioritize their financial decisions.” –Tyson RayThe finer details of this episode:The concept of the "total relationship" in financial planningThe importance of understanding clients' short-term goals and concernsThe role of wealth advisors in understanding clients' motivations and aspirationsProactive planning and collaboration between financial advisors, CPAs, and attorneysEducating clients about tax planning, investment decisions, and trade-offsSeeking deeper, more fulfilling connections beyond just financial mattersEpisode resources:Summit Virtual CFO by Anders website: https://www.summitcpa.net/If you have questions or would like to be a guest on the show, email us at mcpasuccessshow@anderscpa.comCheck out the Virtual CFO Playbook Course: https://vcfoplaybook.summitcpa.net/Connect with Tyson here: https://www.linkedin.com/in/tysonray/Check out Form Wealth Advisors here: https://formwealth.com/Tyson's resources mentioned in the episode: https://totalrelationship.com/moderncpa Timestamps:The welcome and introduction (00:00:00)Introduction to the podcast and the mission of providing insights for accounting firms. Guest introduction and perspective (00:00:30)Discussion about the unique perspective of the guest, Tyson Ray, and the value he brings to the audience. Introduction to the show and guest (00:00:53)The host and guest host introduce themselves and welcome the audience to the show. Tyson Ray's background and mission (00:01:19)Tyson Ray introduces himself, his role, and his mission to help clients and the community. The total relationship and client value (00:02:43)Discussion about the importance of understanding the client's needs and building a valuable relationship. Expanding services and expertise (00:03:40)Tyson Ray's decision to expand his expertise and focus on business exit planning. The Total Relationship book (00:05:05)Introduction to the book "The Total Relationship" and its focus on client relationships and communication. Client-focused planning approach (00:06:31)Explanation of the three parts of the total relationship: life plan, wealth plan, and care plan. Client relationship parallels (00:08:10)Discussion about the similarities in client-focused approaches between wealth management and financial business services. Prioritizing client needs (00:08:31)The importance of prioritizing client needs and guiding them through their financial journey. Life plan and client background (00:10:04)Exploration of the life plan, including family, health, and personal goals, to better understand the client's needs. Client's family and personal life (00:11:28)The significance of understanding the client's family dynamics, including parents, children, and personal experiences. Life plan and client's lifestyle (00:14:18)Discussion about the life plan, including travel, recreation, home improvements, and major purchases, to enhance the client's lifestyle. Client's life plan and financial decisions (00:15:53)The importance of aligning financial decisions with the client's life plan and rewarding themselves for their hard work. The Total Relationship and client permission (00:17:10)Exploration of the client's permission to prioritize their life plan and the role of advisors in supporting their goals. Life Plan (00:19:16)Advisors asking forward-looking questions, encouraging clients to enjoy their wealth and plan for personal goals. Virtual CFO Playbook (00:19:57)Promotion of a comprehensive online series to equip firms with essential tools for scalable CFO services. Wealth Advisor Conversations (00:20:40)Discussing the process of building trust with clients, understanding motivations, and opening conversations about personal and business goals. Life Plan and Wealth Plan Intersection (00:22:03)Exploring the connection between life and wealth plans, emphasizing the importance of understanding clients' personal and business needs. Wealth Plan Proactivity (00:23:58)Identifying cash management, business debt, and proactive planning to navigate financial crises and business transitions. Business Succession and Life Plan (00:27:03)Addressing business owners' plans for exiting their businesses, including transitions and contingency planning. Collaboration and Tax Planning (00:28:50)Highlighting the benefits of collaboration between financial advisors, CPAs, and law firms for better client outcomes. Future-Focused Financial Advice (00:30:44)Emphasizing the importance of future-focused financial advice and the collaboration between wealth management and tax planning. Caring for Financial Future (00:31:23)Reminding clients of their goals, proactive service, and helping clients make informed financial decisions. Personal Wealth Building (00:34:09)Encouraging clients to consider personal wealth-building options and the impact on business sustainability. Tax Planning and Client Education (00:35:01)Educating clients on tax deductions, structure, planning, and the importance of making informed financial decisions. Wealth Building Strategies (00:35:49)Encouraging personal wealth building for business owners to reduce stress and secure financial stability. Roth Tax-Free and Deductions (00:36:45)Navigating discussions on Roth tax-free options, deductions, and the impact on future tax liabilities. Client Engagement and Care Plan (00:37:48)Frequency of client engagement, revisiting life plans, and maintaining a standard cadence for care planning. Clients' Meeting Frequency (00:37:48)Tyson discusses the importance of tailoring meeting frequency to clients' needs and life events. Adjusting Meeting Frequency (00:38:42)Tyson explains how the frequency of client meetings should be adjusted based on the rhythm of life and life events. Over-servicing Clients (00:39:37)Tyson shares his experience of over-servicing clients and emphasizes the need to align service frequency with clients' actual needs. Client Scheduling Expectations (00:41:11)Jamie and Tyson discuss the importance of understanding clients' preferences for meeting schedules and setting expectations. Final Thoughts and Relationship Building (00:43:51)Adam and Tyson emphasize the value of building relationships and learning from professionals in different industries. Virtual Relationship Building (00:45:04)Tyson highlights the opportunity to build relationships virtually and reach clients beyond traditional demographics. Securities through Raymond James Financial Services, Inc. Member FINRA / SIPC. Investment advisory services are offered through Raymond James Financial Services Advisors Inc.  FORM Wealth Advisors is not a registered broker/dealer and is independent of Raymond James Financial Services. Raymond James and its advisors do not provide tax advice. Podcast guest is Tyson Ray, CEO, Founding Partner, Senior Wealth Advisor at FORM Wealth Advisors. FORM Wealth Advisors is located at 431 Geneva National Ave S, Lake Geneva, WI, 53147; 262-686-3005.  

Join host Matt Konkle on Catalyst and Victoria Arrigoni, MD, Head of Industrials & Manufacturing at G2 as they sit down with Bill Condron, CEO of The Granite Group, to discuss the transition dynamics of multi-generational family businesses. They cover the crucial elements of one generation stepping aside and another stepping in, along with the critical decisions surrounding the sale of a family business to a private equity partner. Bill offers valuable perspectives on leadership succession, legacy preservation, and the strategic and emotional hurdles of these transitions. Don't miss this insightful conversation on managing change while honoring tradition in family enterprises.

Welcome to the Business Legends Podcast! Today, we're excited to host Sandy Solomon, of Covenant Advisory Group! Covenant Advisory Group is a full service Financial Planning Company, with expertise in Family and Estate Planning, Executive Benefits, and Business Succession. Check them out here! https://www.covenantag.com/ Or connect with Sandy here: https://www.linkedin.com/in/wsandysolomon/ Connect with us! Website: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠http://www.businessmarketingsolutionsgroup.com/ Facebook: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ https://www.facebook.com/BusinessMarketingSolutionsGroup LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ https://www.linkedin.com/company/businessmarketingsolutionsgroup …and don't forget to subscribe! ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://open.spotify.com/show/4Sj5LS3elqDqiR55LIdAgh?si=1c00696801f94abc

A growing majority of small business owners are over the age of 55 and less than ten years from the time when they say they'll be ready to hand over the reins... but one-third have no plan for when that time comes (at 15:36) --- Amid big changes to the local recycling program, the Hancock County Solid Waste Management District is holding the first of their summer Household Hazardous Waste collection events this week (at 24:30) --- What's Happening: Hot fun in the summertime! Details on July programs from the Hancock Park District (at 48:06)

Are You Ready to Unlock the Hidden Potential in Your Business Finances?   In this episode of The Liquid Lunch Project, hosts Matthew R. Meehan and Luigi Rosabianca welcome Timothy Yurek, founder of Tier One Capital, to explore the pressing financial challenges that small businesses face every day. From cash flow management to succession planning, Tim shares invaluable insights and strategies to help business owners gain control over their finances and achieve long-term success.   Episode Highlights:   The four key challenges small businesses face: growth, talent retention, succession planning, and converting equity into cash. How Tier One Capital identifies and eliminates inefficient use of money in businesses. The concept of the "financial golf swing" and its impact on financial efficiency. Real-life success stories and case studies of businesses transforming their financial strategies. The importance of shifting mindsets to regain control over cash flow and improve financial health.   Listen today to learn how you can improve your business's financial health and gain control over your cash flow! Favorite Quote: "Whoever controls your cash flow controls your life."   Stay Connected: Connect with Matt and Luigi on Instagram: @matthew.r.meehan @luigi_rosabianca @theLiquidLunchProject @ShieldAdvisoryGroup Visit The Liquid Lunch Project website and subscribe to The Weekly, our Friday morning newsletter, for all the latest in the world of finance, tech, small business, and more. www.theliquidlunchproject.com Make sure you never miss an episode — check out The Liquid Lunch Project on Apple Podcasts, and don't forget to subscribe, rate, and review.

Are you a family business owner navigating the complexities of succession planning? Take a moment to consider this - the successful transition of a family-owned business is not just about handing over the reins; it's about securing the legacy and impact on the community. Patrick Woock delved into the critical importance of family business succession. A key insight emerged - the impact of small business owners transcends beyond profits; it resonates within their communities. It's a commitment to service, quality, and the well-being of those they serve. The nurturing of a family business isn't just about the business itself; it's about preserving the unique value it brings to the local community. As family business owners, understanding this impact on a deeper level can reshape our approach to succession planning, making it more holistic and community-centered. Watch the episode here: https://succession.plus/uk/podcasts-uk/patrick-woock/ If you would like to learn more about how to start preparing your business, then you can get more information here: It All Begins with Insights. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode Brian and his special guest John O'Dore of Chinook Capital Advisors discuss business succesion. 

Mike Switzer interviews Jeremy Finger, a certified financial planner with Riverbend Wealth Management in Myrtle Beach, S.C.

Laurie Barkman is known as the “Business Transition Sherpa”, and in this episode, she dives into the terrain of building, valuing, and selling your business. Laurie brings her expertise to the table, sharing strategies from her book "The Business Transition Handbook" to help entrepreneurs mitigate risks and enhance their company's worth. Her experiences as a CEO provide a practical backdrop, stressing the importance of maintaining focus during major transitions and preparing for the rigor of due diligence and integration. Laurie also peels back the emotional layers owners face when parting with their business, emphasizing the need for a thoughtful exit plan for all parties involved. Listen in as Laurie and Tony unpack the nuances of creating enterprise value, especially through strategic marketing. Reflecting on the evolution of retail in the digital age, this episode emphasizes the critical role of metrics such as Customer Acquisition Cost and Lifetime Value, retention, and churn rates. These indicators are not just buzzwords; they're vital to a company's financial narrative and can dramatically influence its market value. Whether you're a tech startup guru or a small business owner, this discussion offers actionable insights on harnessing data to build a more resilient and valuable business. In this comprehensive discussion, Laurie and Tony also tackle the personal and pragmatic aspects of selling a business, from the initial readiness to the emotional aftermath. Laurie's tales of entrepreneurs post-sale highlight the transformational nature of these transactions. Don't miss out on these vital conversations that could shape the future of your business legacy. Key highlights: Creating Enterprise Value Through Strategic Marketing Building Valuable and Sustainable Businesses Understanding Business Valuation Multiples Navigating the Business Sale Process Private Equity Buyouts and Acquisitions Legacy and Entrepreneurship Transition Strategy Connect with Laurie Barkman: Website: thebusinesstransitionsherpa.com Instagram: @lauriebarkman Connect with Tony Whatley: Instagram: @365driven Facebook: 365 Driven LinkedIn: Tony Whatley

LifeBlood: We talked about planning for woman owned business, why and how the succession planning process is different for woman, the problem of being too selfless, common pitfalls to avoid, and how to start this important process, with Patty Block, Founder of the Block Group, an org helping women experts grow and transition their businesses.        Listen to learn how to overcome your fear of letting go to your business! You can learn more about Patty at TheBlockGroup.net, YouTube, Facebook, X, and LinkedIn. Thanks, as always for listening! If you got some value and enjoyed the show, please leave us a review here: ​​https://ratethispodcast.com/lifebloodpodcast You can learn more about us at LifeBlood.Live, Twitter, LinkedIn, Instagram, YouTube and Facebook or you'd like to be a guest on the show, contact us at contact@LifeBlood.Live.  Stay up to date by getting our monthly updates. Want to say “Thanks!” You can buy us a cup of coffee. https://www.buymeacoffee.com/lifeblood

With Laurie Barkman, The Business Transition Sherpa(TM), is the former CEO of a $100 million revenue company that was sold to a Fortune 50. As a Business Transition and M&A Intermediary, Laurie advises owners how to create more valuable businesses and find the right buyer when it's time to let go. Her expertise in business transition, succession, entrepreneurship, value growth, and M&A has been spotlighted in various media like Newsweek, Forbes, Yahoo! Finance, WTAE/abc and more. She is an adjunct professor of entrepreneurship at Carnegie Mellon University, where she earned her MBA from The Tepper School of Business and a Bachelor of Science degree. She is the author of "The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options." In addition, Laurie hosts the award-winning podcast, Succession Stories, which is rated in the top 2.5% of podcasts globally. Join us in our conversation where Laurie covers practical aspects of business succession planning, exit strategies, and effective prioritization for ongoing success. Laurie provides insights into business transition planning, addressing common pitfalls and offering a buyer's viewpoint on business valuation. From tailored Exit Planning options for clients of all sizes to navigating legal challenges during business scaling, Laurie discusses the pragmatic aspects of legacy planning, emphasizing the need for alignment between estate planning and asset distribution, and its impact on the business and stakeholders. To listen to the podcast and access the show notes and any other resources mentioned in this episode, visit us at www.legalwebsitewarrior.com/podcast.

On today's episode of Great Points, Matt talks to Bill Hooper, who recently sold his  business after 20+ years.  They talk about Bill's experience as a business owner, and ultimately what made him decide to sell.  They also talk in depth about the sale process, owner financing, and what comes after "retiring" from your business .  If you are a business owner, or even just considering retirement, this episode is for you.

Pete Walsh is a Master Coach and a trusted advisor who brings real-life lessons to his family business and executive clients. Pete is the first guest on Succession Stories who turned down next generation succession. In 1919, Pete's great uncle and grandfather started Walsh Bros. as a typewriter repair company in the times of the US wild west. As the 3rd generation, Pete joined the business and slowly worked his way up the company ladder. There were lots of owner branches on the family tree, and Pete felt that the road to autonomy and ownership was too much of an uphill journey. He said no to family business succession and ventured out on his own. Years later, the family sold the business to Target Corporation bringing an end to Walsh Bros after a successful 89-year run. Pete followed his passion for leadership development and coaches family businesses across the US. He is also the author of The Family Business Playbook that includes some timeless advice from his grandfather. Listen in as Pete joins host Laurie Barkman for a great conversation about family business performance and what it takes to win. Enjoy this Succession Stories episode about turning down the family business with Pete Walsh.   Find Pete Walsh Here: https://familybusinessperformance.com   My Links: ⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/

LifeBlood: We talked about business succession planning, why so many businesses fail to sell their enterprises, the role of emotion and “why” in the process, and when and how to get started, with Lou Colella, CPA, PFS, CFP, CEPA and Managing Partner of JFS Wealth Advisors.      Listen to learn why a successful business transition comes down to execution! You can learn more about Lou at JFSWA.com, Facebook, Twitter and LinkedIn. Thanks, as always for listening! If you got some value and enjoyed the show, please leave us a review here: ​​https://ratethispodcast.com/lifebloodpodcast You can learn more about us at LifeBlood.Live, Twitter, LinkedIn, Instagram, YouTube and Facebook or you'd like to be a guest on the show, contact us at contact@LifeBlood.Live.  Stay up to date by getting our monthly updates. Want to say “Thanks!” You can buy us a cup of coffee. https://www.buymeacoffee.com/lifeblood