Podcasts about ebitda

Interview with Richard Young, Chief Executive Officer of i-80 GoldOur previous interview: https://www.cruxinvestor.com/posts/i-80-gold-tsxiau-pitch-perfect-november-2025-8431Recording date: 19th November 2025i-80 Gold (TSX: IAUX) is executing a methodical three-phase development plan designed to transform the company from a marginal Nevada gold producer into a profitable mid-tier operator generating 200,000 ounces annually by 2028 with projected EBITDA of $200 million to $300 million. The company's third quarter 2025 results marked a critical inflection point, delivering the strongest financial performance in company history whilst completing permanent dewatering infrastructure that had previously constrained access to higher-grade mineralisation at the flagship Granite Creek underground mine.President and CEO Richard Young confirmed that permanent dewatering systems installed during Q3 2025 will enable accelerated underground development over the next six months into zones where "grades get better, ground conditions get better, and we expect mining rates to rise." A 47-hole infill drilling programme scheduled for completion in mid-December 2025 is yielding results that Young characterised as "consistently solid. Very good grades over very good widths," with a feasibility study incorporating these results expected at the end of Q1 2026 showing "materially better" economics than previous assessments.Construction of the Archimedes underground mine commenced in Q3 2025, providing the second production centre necessary to justify the strategic refurbishment of i-80 Gold's Lone Tree autoclave facility. The autoclave refurbishment represents the pivotal value creation opportunity in management's development thesis. With current toll milling costs ranging between $1,000 and $1,500 per ounce, i-80 Gold is effectively surrendering $200 million to $300 million in annual EBITDA at the 2028 production target of 200,000 ounces. Young stated unequivocally: "Strategically and economically, that refurbishment is very important for us to move forward with."Engineering firm Hatch has largely completed engineering work on the approximately $400 million autoclave refurbishment, with the board approving a $25 million limited notice to proceed authorising detailed engineering, long-lead equipment orders, and permitting initiation. The company expects to commence pouring gold through the refurbished autoclave before the end of 2027, creating an 18 to 24 month payback period on the capital investment at current gold prices.Beyond Granite Creek and Archimedes, i-80 Gold completed infill drilling at its Cove underground project during Q3 2025, with results showing the total mineralised envelope up between 10 and 20 percent compared to previous estimates. A feasibility study is scheduled for Q1 2026, with permitting targeted for completion before the end of 2028. The company will release three major feasibility studies between Q1 2026 and Q1 2027 covering its core underground operations, each expected to show material improvements over preliminary economic assessments.Management has received six term sheets from financing partners and is advancing toward recapitalisation completion by Q2 2026 to fund both phase one and phase two of the development plan. The company has successfully recruited experienced technical teams across mining engineering, metallurgy, and geology disciplines, a critical leading indicator of execution capability as i-80 Gold transitions from single-asset operator to multi-mine producer.For investors evaluating Nevada-focused gold producers, i-80 Gold offers substantial leverage to successful execution and higher gold prices, with the 2028 target of 200,000 ounces production and $200-300 million EBITDA generation providing a concrete benchmark for measuring management's progress toward transformational value creation.Learn more: https://cruxinvestor.com/companies/i-80-goldSign up for Crux Investor: https://cruxinvestor.com

NIO reports Q3 2025 earnings on November 25, 2025, just two days away, with the entire market watching whether the company can achieve its first quarterly profit in Q4 2025. This episode examines how Cathie Wood's foundational EV investment thesis is being tested by current lithium carbonate price surges and what it means for NIO's path to profitability.Cathie Wood and ARK Invest built their entire EV bull case on Wright's Law, which states that battery costs decline 28 percent for every cumulative doubling of production volume. This is not time-based like Moore's Law but volume-based, meaning more units produced equals predictably lower costs. In ARK's Big Ideas 2024 report published February 2024, Cathie Wood predicted electric vehicles would reach 74 million units annually by 2030, up from 10 million in 2023, representing a 33 percent compound annual growth rate. The key driver is falling battery costs making EVs cheaper than gasoline vehicles, with ARK projecting 1.4 trillion dollars in annual EV revenue by 2030 and 140 billion dollars in industry EBITDA.However, lithium carbonate prices have surged to 100,000 yuan per ton in November 2025, up 70 percent from 58,500 yuan in June 2025. The most-active lithium carbonate futures contract on Guangzhou Futures Exchange jumped 9 percent in a single session to 95,200 yuan on November 17. Ganfeng Lithium Chairman Li Liangbin predicted that if demand growth exceeds 30 to 40 percent in 2026, supply cannot be balanced in the short term and prices may reach 150,000 to 200,000 yuan per ton, effectively doubling from current levels.Four factors are driving the lithium price surge: First, China's purchase tax exemption for EVs ends December 31, 2025, causing consumers to rush purchases before year-end with domestic lithium carbonate consumption surging to 135,000 metric tons in November, up over 40 percent year-over-year. Second, energy storage demand is stealing automotive supply with China's energy storage lithium battery shipments reaching 430 GWh in the first nine months of 2025, exceeding 30 percent of all 2024. Energy storage uses the same lithium iron phosphate chemistry as mass-market EVs. Third, supply is stalling with China's lithium carbonate output growth slowing to 1.4 percent in November and the Jiangxiawo mine producing 65,000 tons annually or 6 percent of global supply shut down since August. Fourth, social lithium carbonate inventories declined for 13 consecutive weeks to a record low of 28.1 days turnover versus healthy levels of 45-60 days.In October 2025, Cathie Wood's ARK Autonomous Technology and Robotics ETF purchased 124,523 shares of BYD valued at 1.7 million dollars. BYD now represents 1.06 percent of ARK's combined portfolio at 14.5 million dollars. This is significant because BYD overtook Tesla in global battery electric vehicle deliveries with Q4 2024 deliveries of 595,000 units versus Tesla's 496,000 units. BYD's revenue outpaced Tesla's in 2024 and BYD recently unveiled chargers four times more powerful than Tesla's capable of 5-minute charging. Critically, BYD vertically integrates battery production by manufacturing their own Blade batteries in-house, meaning when lithium prices spike BYD controls their entire supply chain unlike Tesla or NIO who rely on external suppliers.The central question is whether Wright's Law breaks under lithium price pressure. The answer is no but it bends temporarily for four reasons: First, lithium is one input not the entire battery pack which includes cells, battery management systems, thermal management and housing, so even if lithium doubles overall pack costs might only increase 30-40 percent while other components continue declining. Second, oversupply is temporary with global lithium supply projected at 1.7 million tons versus 1.55 million tons demand leaving a 200,000 ton surplus, and as prices rise idle

In this episode the hosts dissect a $23 million asking‑price acquisition of a Miami‑based specialty contractor with $41 M revenue, $4.7 M EBITDA, a $52 M backlog—and dig into its contract structure, accounting risks and deal suitability.Business Listing Link – https://businessesforsale.nuwireinvestor.com/business-opportunity/specialty-contractor-with-long-term-contracts-and-62mm-backlog/2395873/?J=ANWelcome to Acquisitions Anonymous – the #1 podcast for small business M&A. Every week, we break down businesses for sale and talk about buying, operating, and growing them.

What happens when you build a company around one niche, listen obsessively to customers, and never stop improving? In this episode, host Trace Blackmore finally sits down for a full-length conversation with Frank Lecrone, Founder, President, and CEO of AquaPhoenix Scientific. What started in a small 60' x 60' space in Hanover, Pennsylvania, with three employees, maxed-out credit cards, and endless Staples runs has grown into a 300+-person organization serving industrial water professionals around the world.   Frank shares how AquaPhoenix became "the booth everyone wants to be next to" at AWT, why they built their entire business around industrial water treatment instead of trying to be everything to everyone, and how a simple continuous improvement system now generates hundreds of ideas a year from frontline team members. He also pulls back the curtain on acquisitions and private equity, explaining EBITDA in plain language, how to think about "add-backs," and what owners should understand long before they think about selling. Whether you're leading a growing company, running a route, or thinking about your own "second chapter," this conversation is a masterclass in culture, courage, and caring deeply about the people you serve. Stay engaged, keep learning, and continue scaling up your knowledge!    Timestamps   02:20 - Trace Blackmore shares a recap from the recent 2025 AWT Conference, The Hang, and a Blood Donation Story   14:02 - Water You Know with James McDonald  15:20 - Upcoming Conference for Water Professionals  18:16 – Introduction of Frank Lecrone, CEO of AquaPhoenix Scientific (eight years in the making)  24:52 – Why Hanover?   26:59 – Supporting AWT  37:38 – Color-coded caps & QR Codes  42:30 – Learning from mistakes  45:31 – Core Values   48:26 – Acquisitions and Culture   1:03:32 – Valuations and EBITDA    Quotes  "We didn't grow by doing everything for everyone. We grew by doing exactly what one market needed and wanted—and then doing it better every year."  "The lack of information is almost always interpreted negatively. That's why you have to over-communicate, especially during acquisitions."  "EBITDA equals freedom. The more EBITDA you have, the less anybody can tell you what to do with your own company."  "We're not perfect. We screw things up like everyone else—but we fix it, and we fix it quickly, and we make doing business with us as easy as possible."  "I don't want to be the smartest person in the room. I want great people around me, giving ideas and pushing things forward, so I'm not the bottleneck."  "Business is like standing in a bathtub while the water rises. It feels fine until it reaches your mouth. The trick is noticing when it's at your knees and fixing the bottleneck then."  "We give a darn. We have 'GAS'—Give a #$%@—and if we can make it right and do it better, we absolutely will."    Connect with Frank Lecrone Email: frank@aquaphoenixsci.com   Website: Water Quality Testing Products | AquaPhoenix Scientific  LinkedIn:  Frank Lecrone | LinkedIn       Guest Resources Mentioned   AquaPhoenix Scientific   Aliquot – AquaPhoenix's Water Management Software  QR-coded Custom Test Kits (AquaPhoenix EndPoint® ID)    Scaling UP! H2O Resources Mentioned  AWT (Association of Water Technologies)  Scaling UP! H2O Academy video courses  Submit a Show Idea  The Rising Tide Mastermind  American Red Cross    Water You Know with James McDonald  Question: What industrial water treatment word is derived from the Greek word meaning "claw?"    2025 Events for Water Professionals  Check out our Scaling UP! H2O Events Calendar where we've listed every event Water Treaters should be aware of by clicking HERE.   

How One Practice Grew EBITDA by 300% with Expert Consulting Guest: Lisa Lickstein — Award-Winning Practice Owner & Visionary Leader Host: Terri Ross, Founder & CEO of Terri Ross Consulting Guest Spotlight: Lisa Lickstein, MSW, MBA Co-owner, Lickstein Plastic Surgery & Medical Spa Founder, Women in Business Mentorship Academy Certified Coach + Speaker in Unreasonable Hospitality Lisa Lickstein is the co-owner of Lickstein Plastic Surgery and Medical Spa, with two locations in South Florida and a thriving team of 40. With dual degrees in social work and finance, Lisa brings a rare mix of emotional intelligence and business acumen to her leadership. Their practice was recently named 2024 Business of the Year by the Palm Beach North Chamber of Commerce — but even with that level of success, Lisa knew something had to shift behind the scenes and she was not above seeking out expert help from TRC. Episode Overview: In this transparent and insightful episode, Lisa opens up about the real challenges aesthetic practices face as they grow — especially when rapid success exposes operational blind spots. She shares: How a failed acquisition deal became a turning point. Why the non-surgical side of their practice needed TRC's expertise.  The tension between managing day-to-day operations and planning for scale. And ultimately, why she chose to work with Terri Ross Consulting to course-correct and accelerate growth. Lisa and Terri dive into the mindset shift that must happen when a practice is struggling or outgrows its existing systems — and how expert consulting gave her the tools, clarity, and partnership she needed to align both sides of the business for future success. Key Takeaways: Success Without Strategy Creates Stagnation Even top-tier practices with strong culture and revenue can stall if they're not built for scale. Lisa shares how, despite earning just over 8 figures annually, her practice had room to grow — and needed expert guidance to help her achieve this Leadership Doesn't Mean Doing It Alone Lisa reveals the decision to seek outside help wasn't a weakness, but a strategic strength. Working with TRC signaled to her team, partners, and potential buyers that she was serious about intentional growth. Realized 300% ROI from TRC on EBITDA Growth, Realigned Teams, and a Profitable Exit Through TRC's Business Evaluation and ongoing consulting, The Medical Spa team at Lickstein Plastic Surgery saw EBITDA increase by $300,000 – a massive 300% return on their investment with TRC — while realigning internal teams, improving treatment planning, and setting the foundation for a major acquisition. Collaboration, Not Replacement Lisa applauds TRC's collaborative approach — working seamlessly with existing consultants and ensuring every partner brought their best to the table. The Emotional Side of Business Describing the consulting experience as "business therapy," Lisa shares how TRC helped restore balance between the surgical and non-surgical sides of the practice — keeping both teams valued and aligned. The Results:

In this episode the hosts dissect a $23 million asking‑price acquisition of a Miami‑based specialty contractor with $41 M revenue, $4.7 M EBITDA, a $52 M backlog—and dig into its contract structure, accounting risks and deal suitability.Business Listing Link – https://businessesforsale.nuwireinvestor.com/business-opportunity/specialty-contractor-with-long-term-contracts-and-62mm-backlog/2395873/?J=ANWelcome to Acquisitions Anonymous – the #1 podcast for small business M&A. Every week, we break down businesses for sale and talk about buying, operating, and growing them.

From the acquisition of a tiny refrigeration business, Linh Tran has built an enterprise that earns millions annually.Register for the webinar: What a Good Investor Pitch Looks Like -TODAY!! - https://bit.ly/3LYM4H2Topics in Linh's interview:The "Three Rs" search criteriaBeing an undercover owner for 18 monthsEliminating 70-hour workweeks for his techsStruggling with work-life balanceImplementing value-based pricing80% rule for delegationWhy he doesn't want to exitFostering deep employee loyaltyCorporate philanthropy and legacyWhat money can't buyReferences and how to contact Linh:info@apexfundgroup.comLinkedInApex Fund GroupLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamGet a free review of your books & financial ops from System Six (a $500 value):Book a call with Tim or hello@systemsix.com and mention Acquiring MindsConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton RohozovProduced by Pam Cameron

This episode features an in-depth conversation with business advisor and author Jason Hendren about his extraordinary exit journey. Jason shares the raw, real-life experiences behind his book, detailing how he scaled his energy-efficient lighting company, ILP, from a small venture to a highly valuable asset. The discussion covers: The initial risk of buying out his original partners using personal assets in 2009. The power of partnering with private equity, which provided capital, operational expertise (continuous improvement), and mentorship that accelerated his company's growth far beyond what he could have achieved alone. The crucial difference between being an "add-on" versus a "platform" investment in the eyes of PE. The financial nuances of "taking multiple bites of the apple"—selling the company twice to different PE firms for increasing valuations. His biggest regrets and lessons learned, including wishing he had better utilized leverage (debt) to maximize his personal proceeds in the second sale. Timestamps 00:09,"Introduction: Host Vince Perri introduces Jason Hendren and his influential book, Things I Wish I Knew Before I Sold to Private Equity." 03:22,Company Origin: Jason details his background in manufacturing and starting the energy-efficient lighting business. 05:12,First Buyout (Recapitalization): Jason explains the decision and risk of buying out his original partners in 2008/2009 using personal assets. 09:03,Value of Mentorship: How his advisor helped structure the complex debt financing for the initial buyout. 19:58,First Big Lesson: Jason's regret about being too debt-averse and not using money to invest in growth earlier. 25:27,The Growth: Company grew from $7M in sales (2008) to almost triple that by 2012. 28:08,First PE Approach: The phone starts ringing with investment bankers and PE groups. 30:45,Add-on vs. Platform: Jason learns the crucial difference after the first PE prospect backs out. 34:37,The First PE Deal Closes (2012): The anti-climactic nature of the closing process. 43:03,Life with Private Equity: Jason describes the relationship and the deep operational resources and mentorship provided by the PE firm. 46:17,"""Winning is Fun"": Jason reflects on how the PE partnership accelerated growth (quadrupled EBITDA) through strategic investment and continuous improvement." 53:19,Deciding to Stay: The conversation about whether Jason would stay on as CEO for the second sale. 56:51,"The Equity Structure: Explanation of how the reinvestment and multiple ""bites of the apple"" (multiple exits) work financially." 59:46,The Final Exit: Jason discusses stepping away from the company after the second PE deal. 01:03:16,Final Lesson: Jason's biggest takeaway: wishing he had used more leverage in the first PE deal to maximize the proceeds in the second. 01:04:11,Current Practice: Jason highlights his current role as an exit advisor at Hendren Business Advisors. Thank you for being a vital part of our channel

Dans ce deuxième épisode de notre huitième saison, nous avons eu le plaisir de recevoir Taïg Khris, CEO et fondateur de Onoff.Ancien triple champion du monde de roller et auteur de sauts mythiques depuis la Tour Eiffel, Taïg Khris a réussi l'un des pivots les plus spectaculaires de l'entrepreneuriat français : passer du sport extrême à la création d'OnOff, une scale-up télécom qui a réinventé la téléphonie grâce au cloud.Fondée en 2014, OnOff s'est imposée en quelques années comme un acteur disruptif du marché, avec plus de 120 collaborateurs, un modèle 100 % cloud, une forte présence internationale et des lignes de produits utilisées par des milliers d'entreprises et de particuliers. Avec un chiffre d'affaires de plus de 24 millions d'euros et un Ebitda de 5 millions l'an dernier, OnOff s'impose comme l'un des opérateurs nouvelle génération les plus innovants.Dans cet épisode, Taïg revient sur son parcours hors norme — de son éducation atypique à ses 20 ans de carrière sportive — et sur les décisions qui ont façonné son aventure entrepreneuriale : apprentissage continu, obsession du produit, innovation radicale et conviction qu'il fallait réinventer la téléphonie en la basculant dans le cloud.Il partage aussi : • comment il a levé ses premiers millions en convaincant plus de 150 investisseurs • les erreurs stratégiques qui lui ont coûté du temps (et de l'argent) • sa vision du rôle de CEO : vision, équipe, marché et financement • comment il motive ses équipes et construit une culture commerciale solide • les parallèles entre sport de haut niveau, mental, vente et leadership • ses conseils aux commerciaux et aux dirigeants pour performer dans un marché instableUn échange puissant sur l'ambition, la résilience et la capacité à transformer un rêve en entreprise mondiale.Bonne écoute ! Hébergé par Acast. Visitez acast.com/privacy pour plus d'informations.

Ilika CEO Graeme Purdy joined Steve Darling from Proactive to deliver a trading update for the six months ended 31 October, outlining significant operational progress across the company's Stereax and Goliath solid-state battery platforms. The update comes ahead of Ilika's full interim results, scheduled for release in January. Purdy reported that the Stereax M300 micro-battery production line—now operated at Cirtec Medical's facility in Massachusetts—has successfully completed process qualification, a major milestone that clears the path toward commercial output. With this achievement in place, Ilika is targeting initial deliveries to lead customers in Q4 2025, marking the first commercial rollout of the next-generation M300 product. On the large-format battery side, Ilika confirmed that customer testing has validated its Goliath 2Ah P1 cells, demonstrating performance that aligns with expectations for early-stage prototypes. The company remains on track to ship 10Ah Goliath prototypes in December, with 50Ah prototypes to follow based on market demand. Financially, Purdy noted that Ilika expects revenue of £0.6 million for the period, largely reflecting activity associated with the DRIVE35 automotive programme. The company anticipates an EBITDA loss of £3.2 million, which Purdy attributed to increased development expenses and prototype manufacturing costs as Ilika accelerates its transition toward commercialisation. Overall, the company said it remains encouraged by customer engagement and the ongoing validation of its solid-state battery technologies, positioning Ilika for meaningful technical and commercial milestones in 2026 and beyond. #proactiveinvestors #ilika #aim #ika #goliathautomatedline #SolidStateBatteries #Stereax #GoliathBattery #BatteryTech #GraemePurdy #EVBatteries #EnergyStorage #CirtecMedical #JaguarLandRover #UniversityOfOxford #ProactiveInvestors

Chris & Gemma built a 7-figure agency by saying NO to 90% of clientsChris walked into a client meeting. Got the job brief. Then said "No way."The client looked at him like he was insane."You haven't shown me the office. I don't know your team. I can't work on this job."She'd just told him they were more expensive than every other agency.He didn't care.This is how Chris and Gemma built Mixos - a husband-and-wife recruitment agency that operates completely backwards.They REFUSE to take briefs over email. They WON'T work with clients who rush them. They'd literally rather go bankrupt than cut their fees.And somehow? Rookies from retail are billing £50k+ quarters. They've grown to 15 people in 18 months. Their LinkedIn DMs are full of warm leads.In this episode:Why they lost one job last month and Chris "felt like someone stuck a knife in him"The cocktails-in-Mallorca conversation that merged two agencies during a pandemicHow they got a psychology graduate with zero experience to £53k in 90 daysBuilding a 400-person local community that makes cold calling irrelevantWhy they walked away from their biggest client (and replaced it with 5 better ones)The "blueprint everything first" strategy that stops quality diluting as you scaleWhat happens when you tell a client, "I can't help you" in the first meetingThis isn't about growth hacks or AI tools or scaling fast.This is about two people who set impossible standards, refuse to compromise, and somehow built an agency where saying NO is their superpower.For every recruiter who's tired of competing on price and wondering if there's another way.__________________________________________Episode Sponsor: AtlasAdmin is a massive waste of time. That's why there's Atlas, the AI-first recruitment platform built for modern agencies.It doesn't only track CVs and calls. It remembers everything. Every email, every interview, every conversation. Instantly searchable, always available. And now, it's entering a whole new era.With Atlas 2.0, you can ask anything and it delivers. With Magic Search, you speak and it listens. It finds the right candidates using real conversations, not simply look for keywords.Atlas 2.0 also makes business development easier than ever. With Opportunities, you can track, manage and grow client relationships, powered by generative AI and built right into your workflow.Need insights? Custom dashboards give you total visibility over your pipeline. And that's not theory. Atlas customers have reported up to 41% EBITDA growth and an 85% increase in monthly billings after adopting the platform.No admin. No silos. No lost info. Nothing but faster shortlists, better hires and more time to focus on what actually drives revenue.Atlas is your personal AI partner for modern recruiting.Don't miss the future of recruitment. Get started with Atlas today and unlock your exclusive RAG listener offer at https://recruitwithatlas.com/therag/__________________________________________Episode Sponsor: HoxoEvery recruitment founder is investing in LinkedIn.Spending thousands on Recruiter licences.Building connections. Posting content. Growing networks.But here's the question almost no one can answer:How much revenue is LinkedIn actually bringing into your business?Most founders have thousands of connections but no clear process to turn that attention into cash.That's the problem we solve.At Hoxo, we help recruitment founders build predictable revenue systems on LinkedIn, not just noise or vanity metrics.Our clients are turning LinkedIn into...

In the US overnight, Wall St rebounded after a 4 day losing streak with all 3 major indexes closing in the green. The S&P 500 gained 0.5%, while the Dow Jones edged 0.1% higher, and the Nasdaq advanced 0.8%, driven by a new all time high for Google parent company Alphabet, as well as a 3% gain for Nvidia ahead of its pivotal earnings release this morning. Markets across Europe were mainly down – the broader European Stoxx 600 Index edged less than 0.1% down, while the German DAX fell 0.1%, the French CAC 0.2%, and the British FTSE was the biggest slider, shedding 0.47%.In Asia, China's CSI gained 0.44%, but the other major markets all slid, including Hong Kong's Hang Seng retreating 0.38%, and Japan's Nikkei losing 0.34%.Locally yesterday, the ASX 200 extended Tuesday's rout with a further 0.25% slide, dropping the index to its lowest point in 6 months. Strong gains in materials, which were lead by the gold miners, were offset by a tough day for financials, as major banks including CommBank (ASX:CBA), Westpac (ASX:WBC) and Macquarie (ASX:MQG) all slid more than 1%, while ANZ (ASX:ANZ) fell 2%. In other major stock news, popular defence pick DroneShield (ASX:DRO) continued its tumultuous run from the last few weeks after it was announced that its US chief executive Matt McCrann resigned effective immediately, prompting a further 19% loss. After hitting peaks of over $6.50 per share as recently as October, the stock closed trading at less than $2 per share yesterday.What to watch today:The SPI futures indicate that the ASX will snap its losing streak and regain some of its recent losses, predicting a 0.63% jump at the open. Over to commodities, Crude Oil has dropped over 2% to US$59.50 per barrel, after reports indicated that the US government is renewing its efforts to end the ongoing Russia-Ukraine conflict. In theory, this would reduce supply risks to Russian oil, which in turn caused the price to drop.In precious metals, Gold is trading more or less flat at US$4074 per ounce, while silver has gained just over a percent and is trading at US$52.21 per ounce. And Iron ore remains just about flat at US$104.26 per tonne. Trading ideas:Bell Potter has maintained its Buy rating on agricultural chemicals supplier Nufarm (ASX:NUF), and upgraded its 12-month target price from $3.55 per share to $3.60 per share, after the company reported FY25 underlying EBITDA slightly ahead of expectations, and upgraded its FY26 guidance. And Trading Central have identified a bullish signal in ResMed (ASX:RMD), indicating that the price may rise from the close of $37.98 per share, to the range of $43.50 to $44.75 per share over a period of 29 days, according to the standard principles of technical analysis. 

Send us a textStop trying to be the hero who carries everything. We dig into how Kasim built one of the most respected performance marketing agencies by mastering people, not platforms—then sold it for eight figures without ever being the technician. If you've felt stuck doing “all the things,” this conversation hands you a different operating system.We start with the mindset flip: a real business distributes weight through systems and talent. Kasim explains why paying 10% above the top of market attracts peak performers who deliver nonlinear results, and how a single great vendor can multiply margins by eliminating chaos. We unpack when to hire vendors versus employees, why your first hire should be an executive assistant, and how to move from commodity thinking to a culture that values craftsmanship and autonomy.Traffic fuels everything, so we break down the YouTube strategy that drove seven to eight‑month sales cycles with low CAC and high trust. Daily long‑form videos, no gatekeeping, retention over clickbait, and titles/thumbnails that promise exactly what the content delivers. Authenticity beats production value; useful content compounds authority and doubles as a recruiting magnet for elite talent. Then we get tactical on delegation: define the output and inputs, stay out of the middle, correct only what's objectively wrong, and preserve authorship so ownership can flourish.We zoom out to exits and wealth creation: why real estate is where money goes after it's made, how multiples expand as EBITDA grows, and why a deliberate path to an exit is the most reliable route to life‑changing capital. Along the way, we touch on purpose after liquidity, clearing your slate to chase nine‑figure potential, and the discipline to choose opportunities that can truly move the needle.If you're ready to trade hustle for leverage—hire the best, build authority you own, delegate outcomes, and aim for a multiple that changes your life—this one's for you. Enjoy the conversation, share it with a founder who needs it, and subscribe so you never miss new episodes.To Learn more about Kasim Aslam: Linkedin: https://www.linkedin.com/in/kasimaslam To Reach Jordan:Email: Jordan@Edwards.Consulting Youtube:https://www.youtube.com/channel/UC9ejFXH1_BjdnxG4J8u93Zw Facebook: https://www.facebook.com/jordan.edwards.7503 Instagram: https://www.instagram.com/jordanfedwards/ Linkedin: https://www.linkedin.com/in/jordanedwards5/ Hope you find value in this. If so please provide a 5-star and drop a review.Complimentary Edwards Consulting Session: https://calendly.com/jordan-edwardsconsulting/30min

In this episode of The Fractional CMO Show, Casey Stanton speaks directly to women in the marketing world who want to step into the fractional CMO role but often hold themselves back. Drawing from coaching over 200 women inside the Accelerator, Casey highlights the recurring patterns he sees — undercharging, over-justifying, second-guessing their expertise, and hesitating to bring in outside specialists. He walks through the dangers of discounting, the importance of choosing clients who can afford real marketing investment, and how to step into a CEO-level mindset where you orchestrate talent rather than trying to do everything yourself. From understanding EBITDA constraints to leveraging micro-experts on Upwork, Casey gives women a roadmap for charging premium rates and positioning themselves as strategic leaders. Whether you're a marketer trying to break out of "doer" mode or a fractional CMO struggling to own your value, this episode offers the mindset, frameworks, and permission you need to finally step into the role with confidence. Key Topics Covered: - Why Casey recorded this message specifically for women fractional CMOs - The pricing gap: why women tend to undercharge and overexplain - How to set rates based on the life you want, not what clients expect - The difference between declaring your price vs. justifying your price - How money stories and morality distort pricing decisions - Why you should only work with clients who can afford both you and a real marketing budget - The dangers of taking on low-EBITDA or discount clients - Leadership vs. strategy vs. implementation — and why implementation traps women - Why hiring experts is not a threat, but a superpower - How confidence is created through intention, not credentials - Using Upwork and micro-experts to multiply your effectiveness - Selling future outcomes instead of tactical deliverables - When to walk away from clients who cannot support growth

In this episode of Run the Numbers, CJ Gustafson sits down with Vanna Krantz, former CFO of Disney+ and Grindr, to explore what it takes to lead finance through massive inflection points. Vanna reflects on building Disney+'s subscription model from scratch under Bob Iger's leadership and the pressure of launching a global product with no precedent. She discusses forecasting as both science and art, and the importance of appreciating high-stakes moments amid chaos. Shifting to Grindr, Vanna breaks down how the company went public with remarkable efficiency—boasting 40% EBITDA margins and under 200 employees—and how she modeled for a user base that consistently churns and returns. She also opens up about career longevity, work-life balance, and helping women find sustainability and acceleration in leadership.—LINKS:Vanna on LinkedIn: https://www.linkedin.com/in/vannakrantz/CJ on LinkedIn: https://www.linkedin.com/in/cj-gustafson-13140948/Mostly metrics: https://www.mostlymetrics.com—RELATED EPISODES:Monetizing Community Engagement: The Business of Fitness with Strava CFO Lily Yanghttps://youtu.be/zlLb5yZDKQE“Let's Just See What Breaks” — Intuit's CFO on Being a Disruptor When You're Already the Incumbenthttps://youtu.be/Le1D9HXHvGI—TIMESTAMPS:00:00:00 Preview and Intro00:03:02 Sponsors – Aleph, Fidelity Private Shares, and Metronome00:06:09 Meeting at A16z and Disney Plus Discussion00:07:13 Interviewing with Bob Iger and Joining Bamtech Media00:10:43 Forecasting the Unknown at Disney Plus00:13:01 Launch Strategy – Mandalorian and Retention00:15:15 Sponsors – Mercury, RightRev, and Tipalti00:19:23 Forecasting, Retention Curves, and the Art vs. Science Balance00:22:20 Lessons in Art and Science of Finance at Disney00:25:08 Launch Day Chaos and the Disney Plus CDN Outage00:26:24 Celebrating the 10 Million Subscriber Milestone00:27:21 Grindr IPO and Financial Discovery00:32:42 Active User Metrics and Reactivation Trends00:34:29 Seasonality and Human Behavior in App Usage00:36:02 Free vs. Paid Users and Revenue Optimization00:38:21 Pricing Strategy and Global Monetization00:40:23 Women in Leadership and Staying in the Game00:43:30 Work–Life Balance and Career Seasons00:46:12 Wisdom, Experience, and Staying in the Game00:50:08 Finance Stack, Craziest Expense, and Closing Remarks—SPONSORS:Aleph automates 90% of manual, error-prone busywork, so you can focus on the strategic work you were hired to do. Minimize busywork and maximize impact with the power of a web app, the flexibility of spreadsheets, and the magic of AI. Get a personalised demo at https://www.getaleph.com/runFidelity Private Shares is the all-in-one equity management platform that keeps your cap table clean, your data room organized, and your equity story clear—so you never risk losing a fundraising round over messy records. Schedule a demo at https://www.fidelityprivateshares.com and mention Mostly Metrics to get 20% off.Metronome is real-time billing built for modern software companies. Metronome turns raw usage events into accurate invoices, gives customers bills they actually understand, and keeps finance, product, and engineering perfectly in sync. That's why category-defining companies like OpenAI and Anthropic trust Metronome to power usage-based pricing and enterprise contracts at scale. Focus on your product — not your billing. Learn more and get started at https://www.metronome.comMercury is business banking built for builders, giving founders and finance pros a financial stack that actually works together. From sending wires to tracking balances and approving payments, Mercury makes it simple to scale without friction. Join the 200,000+ entrepreneurs who trust Mercury and apply online in minutes at https://www.mercury.comRightRev automates the revenue recognition process from end to end, gives you real-time insights, and ensures ASC 606 / IFRS 15 compliance—all while closing books faster. For RevRec that auditors actually trust, visit https://www.rightrev.com and schedule a demo.Tipalti automates the entire payables process—from onboarding suppliers to executing global payouts—helping finance teams save time, eliminate costly errors, and scale confidently across 200+ countries and 120 currencies. More than 5,000 businesses already trust Tipalti to manage payments with built-in security and tax compliance. Visit https://www.tipalti.com/runthenumbers to learn more.—#RunTheNumbersPodcast #CFOInsights #DisneyPlus #GrindrIPO #Leadership This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit cjgustafson.substack.com

Want a quick estimate of how much your business is worth? With our free valuation calculator, answer a few questions about your business, and you'll get an immediate estimate of the value of your business. You might be surprised by how much you can get for it: https://flippa.com/exit -- In this episode of The Exit Podcast, host Steve sits down with Lee Smith, an acquisition entrepreneur at Verdani Capital with 12 years of M&A experience. Lee shares hard-won lessons from acquiring 20+ businesses and reveals what buyers really look for when evaluating companies for acquisition. KEY TOPICS COVERED: The #1 Red Flag Buyers See (And How to Fix It) Lee reveals why owner-dependency kills deals and how to build transferability into your business 2-3 years before exit Inside the Valuation Process Real multiples for blue-collar businesses (2-4x true profit, not EBITDA) and why adjusted earnings can backfire Deal Structure That Works How Lee structures acquisitions to align incentives: buying 60-80% stakes with future upside potential that often doubles the founder's payday The Biggest Deal Mistakes From buying distressed companies to discovering hidden equity agreements 30 minutes before closing—lessons learned the hard way The £1 Business Acquisition Strategy How Lee has purchased 20 businesses for just one pound, including a remarkable turnaround that saved a founder from £500K in debt When Concentration Risk Isn't a Deal-Breaker Strategic approaches to handling clients that represent 60-70% of revenue, including key customer clauses in SPAs Building Trust in M&A Deals Why "two ears, one mouth" matters more than spreadsheets when structuring successful acquisitions The EOS Framework for Integration Using simple systems to manage acquired businesses without disrupting teams or culture -- Lee Smith is a values-driven entrepreneur and dealmaker with more than 25 years of experience and a respected track record in UK M&A. After completing his first acquisitions in 2014, he went on to buy and turn around nine underperforming companies before founding Verdani Capital, where he continues to acquire and scale larger UK businesses. To date, Lee has completed 26 acquisitions across sectors such as Manufacturing, Professional Services, Construction, HVAC, and IT Services, supported by training from leading M&A mentors in the UK and US. His current portfolio generates over £2M in annual profit with a clear path toward £10M, strengthened by three strategic exits in 2024. Grounded in spirituality and conscious leadership, Lee combines substance, strategy, and long-term thinking in every partnership. Website - https://www.leeasmith.co.uk/ -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You'll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

La Commissione riconosce all'Italia l'avvio di un percorso virtuoso sui conti, ma registra un rallentamento della crescita, aprendo la questione dell'impatto della Manovra. Gli emendamenti alla legge di bilancio sono circa 5.500, di cui 1.600 della maggioranza. FdI propone la riapertura della sanatoria edilizia del 2003; Forza Italia e Lega chiedono di cancellare l'aumento della cedolare secca al 26% e puntano sulla tassa sull'oro. Si attende il vertice tra Meloni, Salvini, Tajani e Lupi prima del voto sugli emendamenti in Senato. Approfondiamo con Alberto Orioli, editorialista de Il Sole 24 Ore e con Maurizio Lupi, presidente di Noi Moderati e membro della Camera dei deputati.Lo scontro diplomatico Cina-Giappone pesa sul NikkeiLa nuova premier giapponese Sanae Takaichi ha aperto una crisi diplomatica con la Cina definendo un'eventuale offensiva su Taiwan una "minaccia esistenziale", ipotizzando una risposta militare. Pechino ha reagito duramente, riaffermando la futura "riunificazione" e diffondendo messaggi minacciosi. La Cina ha sconsigliato ai cittadini di recarsi in Giappone e inviato navi vicino alle Senkaku/Diaoyu. Intanto l'economia giapponese si è contratta per la prima volta in sei trimestri (-1,8% annualizzato; -0,4% trimestrale), sostenendo il piano della premier per un pacchetto di stimoli oltre 17 trilioni di yen. Le tensioni si sono riflesse sul mercato: forti cali per titoli turistici, retail e cosmetics, compresi Japan Airlines, Ana, Isetan Mitsukoshi, Muji, Uniqlo, Shiseido e Oriental Land. Il Nikkei ha chiuso in lieve flessione (-0,10%), ma un boicottaggio cinese potrebbe pesare per 14,23 miliardi di dollari e ridurre il Pil dello 0,36%. Il commento è di Marco Masciaga, Il Sole 24 Ore New Delhi.Commissione Ue: crescita Eurozona 2025 rivista al rialzo, ma l'Italia resta in difficoltàLa Commissione europea prevede per il 2025 una crescita dell'Eurozona dell'1,3% (contro lo 0,9% di maggio). Per l'Italia, invece, stime riviste al ribasso: +0,4% nel 2025, +0,8% nel 2026, +0,8% nel 2027, con performance tra le più basse dell'area euro. Dombrovskis richiama la necessità di azioni per sbloccare la crescita interna: competitività, semplificazione regolatoria, completamento del mercato unico, innovazione. L'economia europea ha retto meglio del previsto anche all'arrivo di Trump e alla sua strategia commerciale. Per l'Italia il rallentamento del prodotto è attribuito a esportazioni nette negative (-0,7 punti) e fine degli incentivi immobiliari, con consumi frenati dall'incertezza. Sul fronte dei conti, la Commissione certifica un deficit al 3% nel 2025, con volontà del governo di scendere sotto soglia per uscire dalla procedura per disavanzo eccessivo. Parliamone con Alberto Orioli, editorialista de Il Sole 24 OrePer siderurgia ancora contrazione nel 2025, ripresa nel 2026L'evento evidenzia che dopo il rallentamento successivo al "biennio magico" 2021-2022, nel 2024 la siderurgia italiana registra un calo generalizzato: fatturato -9%, valore aggiunto -15%, utili -30%, Ebitda -29%. Le imprese prevedono un'ulteriore contrazione nel 2025: il 53% si attende un calo del fatturato e una riduzione dell'incidenza dell'Ebitda; il 47% un decremento del risultato economico. Le criticità principali restano costi dell'energia, ridotto valore aggiunto dei prodotti, costi di materie prime e semilavorati; sul fronte strategico pesano politiche green Ue, perdita di competitività e concorrenza sleale. Morandi sottolinea che Ebitda sotto pressione e filiera frammentata richiedono consapevolezza dei numeri, visione e coraggio di innovare. Lo studio "Bilanci d'Acciaio 2025" analizza i bilanci 2022-24 di 1.764 imprese e include un sondaggio sulle prospettive 2025. Ne parliamo con Paolo Morandi, amministratore delegato Siderweb, la community dell'acciaio.

In this KE Report Company Update, we're joined by Brett Heath, CEO of Metalla Royalty & Streaming (TSX.V:MTA - NYSE:MTA), to review the company's record-breaking Q3 financials and updates on key royalty assets advancing toward higher production. Key Discussion Highlights: Record Q3 Results: First-ever positive net income alongside record revenue, cash flow, and adjusted EBITDA. Rising Gold Equivalent Ounces: Deliveries climbed to 1,155 GEOs, driven by Tocantinzinho, La Guitarra, and new Endeavor royalties. Côté-Gosselin Royalty Expansion: Increased to 1.5% NSR on IAMGOLD's growing project, expected to exceed 10Moz by 2026. Top Performing Assets: Tocantinzinho and Wharf mines showing strong output; Endeavor began paying royalties in Q3. Growth Pipeline: Copper World (Hudbay–Mitsubishi), Taca Taca, and Castle Mountain moving toward construction. Financial Strength: Near net-cash position with a US$75M credit facility to fund future acquisitions. Please email me with any other questions you have for Brett - Fleck@kereport.com.    Click here to visit the Metalla Royalty & Streaming website to learn more about the Company and portfolio of royalty and stream assets.    ----------- For more market commentary & interview summaries, subscribe to our Substacks: The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/   Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

El viaje multidestino se ha convertido en una de las grandes tendencias del turismo en 2025: el 85% de los usuarios de Airhopping combina varias ciudades en una sola escapada y las reservas con alojamiento incluido han pasado del 40% al 80% en solo dos años. La compañía valenciana, impulsora de este modelo en Europa, prevé alcanzar 2 millones de euros de facturación y reúne ya a una comunidad de miles de viajeros, reflejando cómo los turistas buscan optimizar tiempo y presupuesto explorando múltiples destinos en un mismo viaje.Ouigo aportó 159 millones de euros al PIB español en 2024 y generó un impacto turístico de 610 millones, según un estudio de Analistas Financieros Internacionales. La compañía alcanzará en 2025 su primer EBITDA positivo en España, operando más de ocho millones de plazas y manteniendo casi 2.900 empleos, consolidando su contribución económica y turística al país.València ha sido nombrada “Ciudad del Año” en los Food and Travel Magazine Reader Awards 2025, un reconocimiento votado por los lectores de esta influyente revista británica. El premio, entregado durante la World Travel Market, refuerza la proyección internacional de la ciudad como destino gastronómico y cultural destacado en el Mediterráneo y consolida su presencia en un mercado clave como el del Reino Unido.Deusto y RoomPriceGenie organizan el 19 de noviembre un desayuno-coloquio sobre revenue management, competitividad y sostenibilidad en el turismo. La mesa redonda analizará tendencias actuales, la relación entre rentabilidad y criterios sostenibles en precios y distribución, y la cooperación entre empresas y destinos para fomentar un turismo responsable y de mayor valor.Ryanair ha comenzado a aceptar únicamente tarjetas de embarque digitales, lo que está complicando la operativa de las agencias de viaje. Según explican desde CEAV y ACAVE, aunque pueden emitirlas a través de la plataforma Travel Agent Direct (TAD), la medida genera dificultades, como la imposibilidad de gestionarlas desde un solo dispositivo.

A strategic acquirer is a company buying to advance its own roadmap, distribution, or capabilities—unlike financial buyers (private equity, family offices) who buy primarily for cash flow. To a strategic, value may sit in what you've built, not what you've earned.  Chris Hutchins' story makes the point. He co-founded Milk, acquired by Google, and later founded Grove, acquired by Wealthfront. Both saw assets they could plug in—product, team, IP—even when revenue and EBITDA weren't impressive.  If you want a strategic acquirer to pay for what you've built rather than how much money you make, this episode of Built to Sell Radio is for you. You'll discover how to:  • Define and prioritize the assets a strategic may value now (team, product, customer list, roadmap, even your lease) • Reframe your pitch so a distribution-rich buyer may see an immediate lift from your assets • Run a fast, momentum-led process that invites quick noes and surfaces real interest • Split assets across buyers when it improves the overall outcome • Protect employees and customers while you move quickly toward a decision  If a strategic exit is on your radar, this playbook helps you create options when EBITDA won't carry the deal. 

Collect unlimited free verifiable CPD for UK Dentists here >>> ———————————————————————Valuations are shifting fast, and so are the rules that shape them. We sat down with dental practice sales expert Luke Moore to map the real market moves behind the headlines: why groups are winning a bigger share of deals, how cheaper debt is fuelling micro-consolidation, and where independent buyers are still paying up for the right assets. If you're weighing a purchase, planning to sell, or just want to understand what your practice is worth in today's climate, this conversation lays out the numbers and the nuance.We dig into the latest data points on deal sizes and EBITDA multiples, separating independent buys from group-led transactions and explaining why some NHS-heavy portfolios are dragging averages down while high-quality private and mixed practices still push toward the high-7x range. Geography and recruitment take centre stage: NHS valuations diverge sharply by region, with London and the South East often outperforming due to easier clinician hiring. We also unpack the thaw in Wales, where signals of a return to an item-of-service style approach and an uplifted hourly rate are drawing buyers back—alongside a sober look at how associate pay expectations could compress EBITDA.Policy is the wildcard. A widely flagged income tax rise could make holding less attractive than selling for many principals, especially as frozen tax bands and the 100k trap quietly raise effective rates. We walk through BADR's step up toward 18% by 2026 and what that means in pure cash terms, plus the practical timing options many owners are modelling to protect their net proceeds. On costs, a likely National Living Wage increase around 4% will ripple through pay differentials, nudging ancillary costs higher and forcing tighter discipline on margins.———————————————————————Disclaimer: All content on this channel is for education purposes only and does not constitute an investment recommendation or individual financial advice. For that, you should speak to a regulated, independent professional. The value of investments and the income from them can go down as well as up, so you may get back less than you invest. The views expressed on this channel may no longer be current. The information provided is not a personal recommendation for any particular investment. Tax treatment depends on individual circumstances and all tax rules may change in the future. If you are unsure about the suitability of an investment, you should speak to a regulated, independent professional. Investment figures quoted refer to simulated past performance and that past performance is not a reliable indicator of future results/performance.Send us a text

Nick shares his past struggles as a CEO being overwhelmed by too many metrics, which led to poor decision-making and a difficult board meeting. He argues that most CEOs drown in "vanity metrics" that don't actually reflect a business' true value.  To combat this, he introduces The Ultimate CEO Dashboard, detailing the five most crucial numbers that private equity operating partners consistently demand and that truly determine a business' enterprise value and potential for a premium exit KEY TAKEAWAYS Stop tracking dozens of "vanity metrics" and focus only on the five crucial numbers that determine if your business is building or destroying value. Private Equity values the ability to accurately forecast revenue (pipeline coverage) and profitability (EBITDA margin) more than just raw revenue growth. Wildly inaccurate forecasts, even if positive, can be penalised. Cash runway is the oxygen of your business, which must be tracked weekly. However, EBITDA growth (profit) is the metric that determines your exit multiple and creates real financial value. Customer concentration (when a few clients drive a large percentage of revenue) is the number one silent deal killer and can instantly drop a business's valuation by 30% to 50%. BEST MOMENTS "The board partner at the time said, 'Nick, I don't care about your NPS score, your net promoter score. He said, do we have cash or not?'" "More metrics can sometimes mean worse decisions." "You can't cost-cut your way to a premium exit. You need growth plus margin expansion." "If you're only looking at revenue, you're driving by looking in the rearview mirror." VALUABLE RESOURCES Want a one-pager that breaks down The Ultimate CEO Dashboard — the exact 5 metrics that determine your company's enterprise value? DM Nick with the words "CEO Dashboard" on LinkedIn, and he or his team will send you a copy of the cheat sheet so you can start applying it in your business right away. To get your copy of Nick's new book, go to https://www.amazon.co.uk/Exit-Millions-Private-Blueprint-Business/dp/1068243902 Exit Your Business For Millions - Download This Guide: ⁠go.highvalueexit.com/opt-in ⁠ Nick's LinkedIn: ⁠https://highvalueexit.com/li⁠ Nick Bradley is a world-renowned author, speaker, and business growth expert, who works with entrepreneurs, business leaders, and investors to build, scale and sell high-value companies. He spent 10+ years working in Private Equity, where he oversaw 100+ acquisitions, 26 exits, and over $5 Billion in combined value created. He has one of the top-ranked business podcasts in the UK (with over 1m downloads in over 130 countries). He now spends his time coaching and consulting business owners in building and scaling high-value business towards life-changing exits. This Podcast has been brought to you by Disruptive Media. ⁠https://disruptivemedia.co.uk/

In this episode I sit down with Ben Kelly, a former Army intelligence officer who learned inside JP Morgan how real wealth is built and then applied that blueprint to small-business acquisitions. We break down using other people's money with SBA 7(a) loans, what lenders really underwrite, and why accounting firms trade at 1x revenue but can exit at 10 to 12x EBITDA in a rollup. Ben shares how AI increases margins without replacing CPA signatures, plus his own alternative cash-flow plays—from luxury assets and short-cycle supercar deals to semi-truck fleets with powerful tax write-offs. We finish with the hard truth most founders miss: build the foundation as fast as you build the portfolio, and anchor the whole thing to purpose and faith. About Ben KellyBen Kelly is a former U.S. Army Intelligence Officer turned entrepreneur and acquisition specialist. After transitioning from the military into JP Morgan's Private Bank, Ben discovered the strategy ultra-wealthy clients used to grow net worth: business acquisitions. Today, he runs a small business acquisition company focused on rolling up accounting firms to build a 9-figure exit. He also shares real-world insights through his newsletter Acquisition Ace and is launching Alternative Ace to spotlight passive-income strategies beyond Wall Street. Connect with Ben KellyWebsite: https://BenKelly.coInstagram: @BenKellyoneX / Twitter: @BenKellyone About Justin: After investing in real estate for over 18 years and almost 3000 deals done, Justin has created a business that generates 7 figures in active income through wholesaling and fix and flipping as well as accumulating millions of dollars of rental properties including 5 apartment buildings, 50+ single family homes, and 1 storage facility Justins longevity in real estate is due to his ability to look around the corners, adapt to changing markets, perfecting Raising private capital, and focusing on lead generation which allows him to not just wholesale and fix & flip, but also accumulate wealth through long term holds. His success in real estate led him to start The Entrepreneur DNA podcast and The Science Of Flipping podcast and education company, and REI LIVE where he's actively doing deals with members. He has coached and mentored thousands of aspiring and active investors over the last decade. Connect with Justin: Instagram: @thejustincolby YouTube: Justin Colby TikTok: @justincolbytsof LinkedIn: Justin Colby Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Run the Numbers, CJ sits down with Jeff Bernstein, managing partner at Riveron, to unpack what really happens when a company decides it might be time to go public. Jeff draws on his experience across banking, hedge funds, operating roles, and advisory work to break down IPOs, dual-track processes, and the surprising realities behind price discovery—including why a 20x-oversubscribed book isn't what it seems. He also dives into the re-emergence of SPACs, what's different this time, and the key considerations CFOs should weigh before choosing that route. From IPO-readiness must-haves to building the muscle memory needed for public-company life to the sketchiest EBITDA adjustment he's ever seen, Jeff brings stories, frameworks, and hard-won lessons for any finance leader thinking about the road to the public markets.—LINKS:Jeff Bernstein on LinkedIn: https://www.linkedin.com/in/jeff-bernstein-498a23158/Company: https://riveron.com/CJ on LinkedIn: https://www.linkedin.com/in/cj-gustafson-13140948/Mostly metrics: https://www.mostlymetrics.com—TIMESTAMPS:00:00:00 Preview and Intro00:02:59 Sponsors – Tipalti, Aleph, Fidelity Private Shares00:06:20 The Mechanics of Going Public at Riveron00:09:59 The State of Tech Capital Markets00:11:19 Comparing the Internet, Mobile, and AI Waves00:14:11 Understanding Dual Track Processes00:15:34 Sponsors – Metronome, Mercury, RightRev00:19:35 Why Companies Choose to Go Public or Sell00:23:02 Why Price Discovery Is Harder in Today's Market00:26:05 The Pros and Cons of Direct Listings00:29:16 Balancing Fairness Between Employees and Investors00:30:47 Inside the IPO Pricing Process00:34:26 How Banks and Investors Game Allocations00:41:22 The Return of SPACs and Why They're Back00:43:46 Key Considerations for CFOs Evaluating SPAC Mergers00:47:53 The Most Successful SPACs to Date00:49:00 Building Public Company Readiness00:52:03 Developing Muscle Memory for Quarterly Reporting00:55:31 The CFO's Role as Chief Communicator00:57:47 Long-Ass Lightning Round – Overhyped Metrics and Sketchy EBITDA—SPONSORS:Tipalti automates the entire payables process—from onboarding suppliers to executing global payouts—helping finance teams save time, eliminate costly errors, and scale confidently across 200+ countries and 120 currencies. More than 5,000 businesses already trust Tipalti to manage payments with built-in security and tax compliance. Visit https://www.tipalti.com/runthenumbers to learn more.Aleph automates 90% of manual, error-prone busywork, so you can focus on the strategic work you were hired to do. Minimize busywork and maximize impact with the power of a web app, the flexibility of spreadsheets, and the magic of AI. Get a personalised demo at https://www.getaleph.com/runFidelity Private Shares is the all-in-one equity management platform that keeps your cap table clean, your data room organized, and your equity story clear—so you never risk losing a fundraising round over messy records. Schedule a demo at https://www.fidelityprivateshares.com and mention Mostly Metrics to get 20% off.Metronome is real-time billing built for modern software companies. Metronome turns raw usage events into accurate invoices, gives customers bills they actually understand, and keeps finance, product, and engineering perfectly in sync. That's why category-defining companies like OpenAI and Anthropic trust Metronome to power usage-based pricing and enterprise contracts at scale. Focus on your product — not your billing. Learn more and get started at https://www.metronome.comMercury is business banking built for builders, giving founders and finance pros a financial stack that actually works together. From sending wires to tracking balances and approving payments, Mercury makes it simple to scale without friction. Join the 200,000+ entrepreneurs who trust Mercury and apply online in minutes at https://www.mercury.comRightRev automates the revenue recognition process from end to end, gives you real-time insights, and ensures ASC 606 / IFRS 15 compliance—all while closing books faster. For RevRec that auditors actually trust, visit https://www.rightrev.com and schedule a demo.—#RunTheNumbersPodcast #IPOmistakes #CFOinsights #SPACs #FinanceLeadership This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit cjgustafson.substack.com

In this episode hosts Michael LeBlanc and Steve Dennis from The Remarkable Retail Podcast welcome XRC Ventures' Managing Director Pano Anthos, for a deep dive into the future of retail innovation, investment strategies, and overcoming the systemic challenges that keep great technology from scaling.Pano shares his journey from serial entrepreneur to leading a venture fund focused on pre-seed and seed-stage investments at the intersection of retail, consumer behavior, and technology. With over 150 investments since 2015, XRC Ventures targets transformative sectors including retail media networks, the consumerization of healthcare, commerce enablement, and new distribution channels. Pano highlights examples of groundbreaking innovations—from AI-driven financial automation to diagnostics that detect autism in under two hours—that are redefining operational efficiency and customer impact.A major focus of the conversation is retail's organizational dysfunction, where siloed leadership and competing P&Ls create “warring tribes” that hinder adoption of transformative solutions. Pano argues that true progress requires structural change—appointing an operational leader with end-to-end responsibility for traffic and sales across all channels. The discussion also explores the promise of retail media, particularly in-store applications with untapped margin potential, and spatial intelligence, which can bring the precision of e-commerce analytics into physical stores. Pano shares candid insights on startup strategy, stressing that early-stage companies must demonstrate material ROI—significant EBITDA or revenue growth—to make it into a retailer's short list of investment priorities. About UsJennifer MarloHead of Content, CommerceNextJennifer Marlo drives industry-leading programming at CommerceNext, drawing on experience from Ascendant Network and iMedia Connection, where she spearheaded content strategies to inspire retail, brand and agency marketing leaders. Guided by the belief that “a rising tide lifts all boats,” Jennifer uses in-person and digital platforms to educate and foster industry collaboration. Steve Dennis is a strategic advisor and keynote speaker focused on growth and innovation, who has also been named one of the world's top retail influencers. He is the bestselling authro of two books: Leaders Leap: Transforming Your Company at the Speed of Disruption and Remarkable Retail: How To Win & Keep Customers in the Age of Disruption. Steve regularly shares his insights in his role as a Forbes senior retail contributor and on social media.Michael LeBlanc is the president and founder of M.E. LeBlanc & Company Inc, a senior retail advisor, top retail influencer, keynote speaker and media entrepreneur. Michael produces and hosts a network of leading retail trade podcasts, including the award-winning No.1 independent retail industry podcast in America, Remarkable Retail with his partner, Dallas-based best-selling author Steve Dennis; Canada's top retail industry podcast The Voice of Retail and Canada's top food industry and one of the top Canadian-produced management independent podcasts in the country, The Food Professor with Dr. Sylvain Charlebois from Dalhousie University in Halifax.

Live from Future Proof, I sat down with Jason Early, Founder and CEO of RISR — an AI platform that's helping financial advisors rethink how they serve business-owner clients.Here's the truth: for most entrepreneurs, their business is their biggest asset — but most advisors just ask, “What's it worth?” jot down a guess, and move on. Jason and his team built RISR around a simple belief: business owners deserve better advice, and the advisors who serve them need better tools to give it.RISR connects directly to a company's financials, uses AI to generate real-time valuations, and gives advisors the insights they need to guide clients through growth, succession, and exit planning. It helps advisors have the right conversations — earlier — so they're there long before the liquidity event, not chasing it after the fact.In this conversation, Jason shares how top advisors are using RISR to win business-owner clients, deepen relationships, and deliver the kind of advice that builds lasting trust.3 of the biggest insights from Jason Early…#1.) How Top Advisors Are Using RISR to Stand OutAdvisors aren't just running valuations, they're using RISR to open doors, deepen trust, and win business-owner clients long before a liquidity event. By showing up with real data on what the client's business is worth, advisors shift the conversation from “asset management” to “business strategy.” It's helping them justify planning fees, spark succession discussions, and position themselves as the quarterback for every major decision that impacts the owner's wealth and legacy.#2.) The Truth About Business Valuation (and Why It's Usually Wrong)Most business owners miscalculate what their company is worth — often by millions. Jason breaks down why, from owner dependency and client concentration to “country club math” and non-normalized EBITDA. He also explains how objective valuation data brings alignment between partners and families, turning tough money talks into clarity.#3.) What Every Advisor Should Know About Succession & Exit PlanningBusiness owners rarely plan their exits well. Jason explains how advisors can use valuation insights to build readiness conversations, prevent conflict between partners, and even influence deal outcomes. These are high-trust, high-value planning opportunities that position advisors as long-term strategic partners — not just investment managers.SHOW NOTEShttps://bradleyjohnson.com/142FREE GIFT + JOIN THE DBDL INSIDER CREWToday's Gift: 30 minute 1:1 coaching call with BradAre you a financial advisor who feels stuck, needs help, or simply wants to have a conversation with Brad? Text “Coaching” to 785-800-3235 to apply for a 30 minute Zoom coaching session and we'll send you a link to Apply. That will also make you a DBDL Insider with VIP access to future resources and exclusive content. *Message and data rates may apply. Reply STOP at any time to opt-out of receiving text messages.FOLLOW BRAD JOHNSON ON SOCIALTwitterInstagramLinkedInFOLLOW DBDL ON SOCIAL:YouTubeTwitterInstagramLinkedInFacebookDISCLOSURE DBDL podcast episode conversations are intended to provide financial advisors with ideas, strategies, concepts and tools that could be incorporated into their business and their life. No statements made in the episode are offered as, and shall not constitute financial, investment, tax or legal advice. Financial professionals are responsible for ensuring implementation of anything discussed related to business is done so in accordance with any and all regulatory, compliance responsibilities and obligations. The Triad member statements reflect their own experience which may not be representative of all Triad Member experiences, and their appearances were not paid for. Triad Wealth Partners, LLC is an SEC Registered Investment Adviser. Please visit Triadwealthpartners.com for more information. Triad Wealth Partners, LLC and Triad Partners, LLC are affiliated companies. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Cameron Heffernan is the Founder of Beyond Borders Marketing, an agency that helps overseas-based B2B companies and their US subsidiaries expand and succeed in the American market. He has built and led a seven-figure marketing agency, worked across three continents, and guided international clients to double their US sales and achieve substantial EBITDA growth through targeted market strategies. Cameron's global perspective is shaped by living and working in the US, Europe, and Africa, and he is now at the forefront of leveraging AI to create more effective and scalable marketing solutions. In this episode… What happens when the world of marketing collides with rapid advancements in AI technology? With shifts in how companies reach their audiences and a landscape that changes almost weekly, business leaders must adapt or risk being left behind. How are some entrepreneurs transforming these challenges into opportunities for growth? Cameron Heffernan, a global marketing strategist and founder of a seven-figure agency, mastered that challenge by fusing his international experience with AI-powered innovation. Having lived and worked across three continents, Cameron learned how to navigate diverse markets and help overseas B2B brands thrive in the US. He saw early signs that marketing was becoming commoditized and pivoted fast — developing interactive digital tools and AI-driven engagement systems that helped clients double sales and dramatically boost profitability. Tune in to this episode of the Smart Business Revolution Podcast as John Corcoran interviews Cameron Heffernan, Founder of Beyond Borders Marketing, about leveraging AI and global expertise to revolutionize international marketing. Cameron shares how he built a resilient agency through global experience and technological foresight, why specialization beats generalization in crowded markets, and how AI tools can amplify — rather than replace — human connection. 

Mick Donaghy: How he built $1.4M from $7K (after his partnership collapsed) Mick Donaghy's mother died when he was in his twenties.Life's too short became his operating system.He left Ireland. Moved to New Zealand. Became a top-billing recruiter! A few years later, he got his shot at ownership. A partnership to launch an Australian business for the agency he worked. For many reasons, this partnership didn't work, so Mick paid back his business partner and walked away with $7,000 in his bank account.No business. No plan B.This time, he was doing it alone.GEDON was born - named after his Mum.Ultra-niche: quantity surveying and cost management. One discipline. Total focus.12 months later: $1.4M AUD in billings.65 placements. One person every three days.But here's what makes Mick different.He's not building an empire.- he's building freedom!Currently has 9 people, 5 offshore making 40%+ profit margins.Last week, he won 3 new clients from his personal brand. Zero cold calls.He just bought a 100-year-old house in Belfast. Cash.He drives an old Toyota Corolla, does 30 minutes in the sauna daily and is two and a half years into rebuilding his relationship with alcohol.He's now set a new and incredible target: 20-hour work week. $300-400K profit annually.This week on The RAG Podcast, Mick tells the full story.We cover:The partnership in Australia that COVID nearly destroyedHow he started Gedon with $7K and built it to $1.4M in year oneWhy ultra-niche made his business borderlessThe personal brand strategy that replaced cold callingWhy he refuses to scale headcountHis sobriety journey and the 20-hour work week planThis isn't about scaling fast.It's about a man who lost his mom young, tried a partnership that collapsed, and rebuilt everything from $7,000 into a million-dollar business that gives him his life back.No investor decks. No growth-at-all-costs.Just freedom over headcount.If you've ever wondered whether there's another way to build a business—one that doesn't trap you -this episode has the blueprint.__________________________________________Episode Sponsor: AtlasAdmin is a massive waste of time. That's why there's Atlas, the AI-first recruitment platform built for modern agencies.It doesn't only track CVs and calls. It remembers everything. Every email, every interview, every conversation. Instantly searchable, always available. And now, it's entering a whole new era.With Atlas 2.0, you can ask anything and it delivers. With Magic Search, you speak and it listens. It finds the right candidates using real conversations, not simply look for keywords.Atlas 2.0 also makes business development easier than ever. With Opportunities, you can track, manage and grow client relationships, powered by generative AI and built right into your workflow.Need insights? Custom dashboards give you total visibility over your pipeline. And that's not theory. Atlas customers have reported up to 41% EBITDA growth and an 85% increase in monthly billings after adopting the platform.No admin. No silos. No lost info. Nothing but faster shortlists, better hires and more time to focus on what actually drives revenue.Atlas is your personal AI partner for modern recruiting.Don't miss the future of recruitment. Get started with Atlas today and unlock your exclusive RAG listener offer at https://recruitwithatlas.com/therag/__________________________________________Episode Sponsor: HoxoEvery recruitment founder is...

In this episode, John Wilson and co-host Jack Carr break down how home-service companies can actually future-proof in 2025: flattening org charts, using AI to nuke overhead, building adaptable teams, and keeping a balance sheet that can take a 30% punch. We get into real numbers (gross margin, overhead targets, EBITDA), how to think about “risk on” vs. “risk off,” and why the middle of the market gets squeezed when big operators cut costs with automation.You'll hear play-by-plays on automating call centers, choosing what to systematize vs. keep human, when to de-lever, and how to bob-and-weave against giants who pass cost savings straight into marketing.What You'll LearnPeople vs. Systems: The two ways to future-proof—and how to train for adaptability.Automation That Moves the P&L: Where AI actually drops overhead (call center, dispatch, admin).Healthy by Design: Gross margin, overhead, and cash targets that create real nimbleness.Debt & “Risk Off”: How interest rates change the game and when to prioritize de-levering.Competing with Giants: What to do when national players cut cost structures by ~8–10 pts.Numbers First: Why you can't future-proof if you don't know your break-even.

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This episode is essential for veteran entrepreneurs who want to stop chasing bad leads and start building a high-value business ready for a profitable exit. Mark Osborne dives into why "sales is a process, not an event." He shows how founders can leverage their military discipline to implement predictable, scalable B2B revenue systems. He shares that the goal is to maximize your company's Enterprise Value (EBITDA)—not just top-line revenue—by clearly defining your product's difference and building documented, transferable sales and marketing processes that any future buyer will pay a premium for. Episode Resources: FreeDownload - Modern Revenue Strategies About Our Guests Mark Osborne is the Founder of Modern Revenue Strategies. Advertising Age Magazine named him a  “Marketing Technology Trailblazer” putting him in the top 25 people in the world at using Technology and Data for Marketing.  He is the Author of the #1 Best-Selling B2B Marketing and Sales book “Are Your Leads KILLING Your Business?” Host of “The B2B Growth Blueprint Podcast” with over 100 episodes and Top 5 ranking in Apple Podcasts with 500+ monthly listeners.   He is one of very few marketing and sales experts in the US who is a Certified Exit Planning Advisor (CEPA) with an MBA, highlighting my expertise at growing Enterprise Value and EBITDA, not just Top-line Revenue. About Our Sponsors Navy Federal Credit Union   Navy Federal Credit Union offers exclusive benefits to all of their members. All Veterans, Active Duty and their families can become members. Have you been saving up for the season of cheer and joy that is just around the corner? With Navy Federal Credit Union's cashRewards and cashRewards Plus cards, you could earn a $250 cash bonus when you spend $2,500 in the first 90 days. Offer ends 1/1/26. You could earn up to 2% unlimited cash back with the cashRewards and cashRewards Plus cards. With Navy Federal, members have access to financial advice and money management and 24/7 access to award-winning service. Whether you're a Veteran of the Army, Marine Corps, Navy, Air Force, Space Force or Coast Guard, you and your family can become members. Join now at Navy Federal Credit Union.   At Navy Federal, our members are the mission.    Join the conversation on Facebook! Check out Veteran on the Move on Facebook to connect with our guests and other listeners. A place where you can network with other like-minded veterans who are transitioning to entrepreneurship and get updates on people, programs and resources to help you in YOUR transition to entrepreneurship.   Want to be our next guest? Send us an email at interview@veteranonthemove.com.  Did you love this episode? Leave us a 5-star rating and review!  Download Joe Crane's Top 7 Paths to Freedom or get it on your mobile device. Text VETERAN to 38470. Veteran On the Move podcast has published 500 episodes. Our listeners have the opportunity to hear in-depth interviews conducted by host Joe Crane. The podcast features people, programs, and resources to assist veterans in their transition to entrepreneurship.  As a result, Veteran On the Move has over 7,000,000 verified downloads through Stitcher Radio, SoundCloud, iTunes and RSS Feed Syndication making it one of the most popular Military Entrepreneur Shows on the Internet Today.

Stephen Grootes speaks to Vodacom Group CEO Shameel Joosub about the company’s impressive half-year results. Vodacom now serves 223.2 million customers, including 93.7 million in financial services, with revenue up 10.9% to R81.6 billion and EBITDA climbing 14.7% to R30.5 billion. In other interviews, Dion Chang, CEO and Co-Founder of FluxTrends, chats about his latest book A Pawfect Life, a witty and insightful guide for modern pet parents. From booking seats on Bark Air to hosting birthday pawties, Chang explores how far people go to indulge their furry companions. The Money Show is a podcast hosted by well-known journalist and radio presenter, Stephen Grootes. He explores the latest economic trends, business developments, investment opportunities, and personal finance strategies. Each episode features engaging conversations with top newsmakers, industry experts, financial advisors, entrepreneurs, and politicians, offering you thought-provoking insights to navigate the ever-changing financial landscape. Thank you for listening to a podcast from The Money Show Listen live Primedia+ weekdays from 18:00 and 20:00 (SA Time) to The Money Show with Stephen Grootes broadcast on 702 https://buff.ly/gk3y0Kj and CapeTalk https://buff.ly/NnFM3Nk For more from the show, go to https://buff.ly/7QpH0jY or find all the catch-up podcasts here https://buff.ly/PlhvUVe Subscribe to The Money Show Daily Newsletter and the Weekly Business Wrap here https://buff.ly/v5mfetc The Money Show is brought to you by Absa Follow us on social media 702 on Facebook: https://www.facebook.com/TalkRadio702702 on TikTok: https://www.tiktok.com/@talkradio702702 on Instagram: https://www.instagram.com/talkradio702/702 on X: https://x.com/CapeTalk702 on YouTube: https://www.youtube.com/@radio702 CapeTalk on Facebook: https://www.facebook.com/CapeTalkCapeTalk on TikTok: https://www.tiktok.com/@capetalkCapeTalk on Instagram: https://www.instagram.com/CapeTalk on X: https://x.com/Radio702CapeTalk on YouTube: https://www.youtube.com/@CapeTalk567See omnystudio.com/listener for privacy information.

Stephen Grootes speaks to Vodacom Group CEO Shameel Joosub about the company’s impressive half-year results. Vodacom now serves 223.2 million customers, including 93.7 million in financial services, with revenue up 10.9% to R81.6 billion and EBITDA climbing 14.7% to R30.5 billion. Headline earnings per share rose 32.3% to 467 cents, while the interim dividend increased 15.8% to 330 cents. Joosub says the strong performance reflects the Group’s resilience, agility, and solid progress towards its Vision 2030 ambitions. The Money Show is a podcast hosted by well-known journalist and radio presenter, Stephen Grootes. He explores the latest economic trends, business developments, investment opportunities, and personal finance strategies. Each episode features engaging conversations with top newsmakers, industry experts, financial advisors, entrepreneurs, and politicians, offering you thought-provoking insights to navigate the ever-changing financial landscape.    Thank you for listening to a podcast from The Money Show Listen live Primedia+ weekdays from 18:00 and 20:00 (SA Time) to The Money Show with Stephen Grootes broadcast on 702 https://buff.ly/gk3y0Kj and CapeTalk https://buff.ly/NnFM3Nk For more from the show, go to https://buff.ly/7QpH0jY or find all the catch-up podcasts here https://buff.ly/PlhvUVe Subscribe to The Money Show Daily Newsletter and the Weekly Business Wrap here https://buff.ly/v5mfetc The Money Show is brought to you by Absa     Follow us on social media   702 on Facebook: https://www.facebook.com/TalkRadio702 702 on TikTok: https://www.tiktok.com/@talkradio702 702 on Instagram: https://www.instagram.com/talkradio702/ 702 on X: https://x.com/CapeTalk 702 on YouTube: https://www.youtube.com/@radio702   CapeTalk on Facebook: https://www.facebook.com/CapeTalk CapeTalk on TikTok: https://www.tiktok.com/@capetalk CapeTalk on Instagram: https://www.instagram.com/ CapeTalk on X: https://x.com/Radio702 CapeTalk on YouTube: https://www.youtube.com/@CapeTalk567 See omnystudio.com/listener for privacy information.

The FAA has mandated flight reductions—ramping up toward a 10% cut at 40 of the busiest domestic hubs due to air traffic controller shortages—which severely restricts domestic "belly cargo" capacity for high-value shipments but largely spares all-cargo carriers like FedEx and UPS. The ground market is defined by a financial squeeze hitting 3PLs like RXO, who are struggling as locked-in, lower contractual sales rates are undercut by suddenly spiking buy rates for trucks, evidenced by the National Truckload Index climbing from $1.68 per mile to $1.80 more recently. RXO's CEO calls this structural capacity exit—driven by tighter regulations and spiking insurance costs forcing smaller carriers out—one of the largest structural changes since deregulation, prompting the company to execute $165 million in total cost cuts and rely heavily on technology to achieve a 19% boost in broker productivity. We pivot to the ocean sector, where Maersk upgraded its full-year EBITDA guidance ($9.0-$9.5 billion) despite facing a jaw-dropping 30.7% year-over-year decline in Q3 freight rates, a success attributed to superior operational execution, 7% container volume growth, and an integrated network that provides a "better moat" against spot volatility. Finally, we track localized labor pressure, including over 900 supply chain layoffs in Texas across diverse sectors like crude oil transport, and monitor the rigorous, impartial review promised by Surface Transportation Board nominees for the massive proposed $85 billion Union Pacific/Norfolk Southern merger. Learn more about your ad choices. Visit megaphone.fm/adchoices

Topics:Early Fundraising MistakesCulture of Constructive DebateUsing Data for Value Creation ...and so much more.Top TakeawaysSimplicity is a fundraising advantage. New managers often try to stand out with creative structures or mixed strategies. Instead, make it easy for investors to say “yes”: standard 2/20 terms, one defined strategy, three memorable differentiators, and an ongoing dialogue with investors. Predictability builds trust—and trust raises funds.Healthy debate drives better decisions. Rotunda's culture is built on one principle: “Disrespect the idea, respect the colleague.” Every voice—associate or senior—is encouraged to challenge assumptions and pressure-test deals, but never the person presenting them. And if alignment isn't there, the deal is dropped. Forcing a divided deal almost always costs more than the opportunity lost.Strategy maps make execution measurable. Before closing a deal, Rotunda aligns with management on a 3- to 5-year vision, defining success through clear EBITDA targets, growth priorities, milestones, etc. Post-close, that strategy map becomes a living document reviewed monthly and used to guide board discussions. Every new opportunity is tested against it. If it's not on the map, it waits unless the team agrees to revise the plan. The result is sharper alignment, disciplined execution, and fewer “shiny object” distractions.Execution creates optionality. John's mantra “Get Sh*t Done” captures his belief that motion beats perfection. At Rotunda, that mindset led to bold experimentation: hiring data scientists before it was common, testing new pricing models, and launching analytics projects. Every executed idea broadens perspective and adds insight. Stack enough of them, and you create optionality. About John FruehwirthJohn Fruehwirth is the Managing Partner and co-founder of Rotunda Capital Partners. With 20+ years of experience across debt and equity investing, he's built a reputation for pairing disciplined execution with data-driven decision-making. Fruehwirth champions a hands-on, collaborative approach, focusing on operational improvement, culture, and measurable value creation.About Rotunda Capital PartnersRotunda Capital Partners is an operationally-oriented private equity firm that partners with founder- and family-owned companies in the lower-middle market. They focus on value-added distribution, asset-light logistics and service-oriented industrial sectors, employing a model built around people, process, technology and data to drive sustainable growth.

Tiff and Kristy provide guidance on how to assess your practice's financial health as 2025 begins to wrap up (and what to start thinking about for 2026). They touch on… Reviewing those P&Ls monthly Aligning spending habits Keeping emotions in check And more! Episode resources: Subscribe to The Dental A-Team podcast Schedule a Practice Assessment Leave us a review The Dental A Team (00:01) Hello, Dental A Team listeners. I am so excited to be here with you today. I truly love this portion of what we get to do in our worlds and getting to get you so much valuable information out to the masses is something that Dental A Team has worked and strived just so hard to achieve in our.   consulting world of just getting you all this information and I have with me today one of my faves. I seriously, I have the most amazing consulting team and if you guys haven't heard from all of them yet, you soon will and if you don't know them personally yet, they're not your consultants. I hope that you get to meet every single one of us even if you're just coming to the events, however it is, but I...   have a personal favorite here for recording podcasts with. She calms me, she just keeps the energy light and fresh and I love any time that we get together. Kristy, thank you so much for being here today. How are you doing? The weather is like weird today. I always tell everybody about the Arizona weather and it's so much fun to have everybody here in the same place. We all live in Arizona in the Phoenix area. Jane is down in the Tucson area, but.   We really love it. And Kristy, how's your world over there? You're just in the beautiful little pocket of Phoenix. And how is it?   DAT Kristy (01:23) Yeah, it's awesome. I love that you say that because we do pride ourselves on the weather here, right? But even with that, this weekend we got a lot of rain, what they say the most in like seven years. Yet all of us, even as close as we are, we experience it so different, right? Like some places flooded. I didn't get flooding, thank goodness, but it downpoured. It was fun and it's made it for cool mornings. So we're taking it.   The Dental A Team (01:42) Yeah.   I agree. I agree that humidity is hitting us hard. So we're not super used to that, but it is making for some, some really beautiful mornings. totally agree. And yes, Britt and I were actually in Reno at our quarterly in-person traction event where we have a, implementer who comes in and leads it for us. And he helps us to build out the company structure and,   teaches and trains us on how to run large meetings like that. So it's always super cool. But we were up in Reno with Britt and or with Kiera Shelbi and Britt and I actually got stuck. Jenna got out. She got back to Denver, which is crazy because Denver always shuts down. And so she got back to Denver. But ⁓ we got stuck until Saturday because the airport was shut down. And then there was a storm in Vegas because we thought, OK, well, we'll fly to Vegas because it's only a five and a half hour drive from there and we'll still get home. And then ⁓   that flight got canceled too. So it was wild. was meant to be, got more time in Reno and got to spend a little bit more time with Kiera. So that was great, but it was kind of crazy. It's not usually Phoenix that disrupts the flight patterns. And it was a hundred percent Phoenix. There were so many flights canceled because so many planes were stuck here and other planes couldn't get in. So it was wild, Kristy. It was wild to watch it from afar. We just got like TikTok notifications and you know, news articles are like, my gosh, all the Waymo's stuck in the puddles and things like that. So.   DAT Kristy (03:15) Yeah,   they just stopped in the middle of the road like what the heck.   The Dental A Team (03:18) Yeah,   that's why whenever somebody says, you use the way most? I'm like, heck no, I have seen them stuck in the middle of intersections far too many times. I'm sure one day it's going to be fantastic, but I haven't built that trust muscle just yet.   DAT Kristy (03:30) Yeah, agree. Well, I'm glad you made it home safe. And ⁓ yeah, the humidity is odd for us too.   The Dental A Team (03:34) Thank you.   Yeah,   yeah, it totally is. And my son was like, Oh, you go to the East Coast enough, Mom, you're fine. Stop complaining. And I was like, Yeah, that's fair. That's fair. But but in the spirit of planning, we we truly had an amazing time really just one getting the time together as a leadership team and then to really looking and projecting like where are we at? What's Q4 going to look like? And then also kind of prepping and planning for 2026. So super relevant in this conversation here.   today and really looking at ⁓ practice health from a financial standpoint. And this is something that your CPAs and your financial advisors and all of those professionals should be looking at with you as well. This is the time of the year that we're really looking at what is this last year? Because we get to Q4 and it's like, well, it's kind of like the end of your senior year, right? You get to the end of your senior year of high school or college and you're like, well, everything's kind of basically submitted. So from here,   It's really just like, let's do our best and make sure that we really cross that finish line strong, but there's not a ton of pivots to be made to really change the game. So kind of prepping and planning. And I think looking ahead at 2026, putting in some really solid ways of checking in on that financial health, something that I've seen that, Kristy, I know you do this as well, but something I've seen a lot of clients really ramp up is a monthly pulse and even like,   weekly sometimes pulse on what the financials of a practice actually look like has really been beneficial in helping them to really reach those goals. And Kristy, you are really fantastic at figuring those financial goals out and then like backtracking them to see, okay, well, what do we need to do to get there? And how do you help practices really keep that financial pulse top of mind and that   running that way so that they're constantly looking at those numbers without feeling overwhelmed and also without losing sight of it. Because you know sometimes you do something too often, you start glazing over it. What's that fine balance that some some tactical tips that you have that you and your practices are working on right now?   DAT Kristy (05:52) Yeah, well, first and foremost, I believe that you have to be getting your P &Ls from your accountant monthly, right? We can't be waiting. I have seen some clients where they're begging for them for three months ago, you know, and it makes it really hard to stay on top of it if we're not getting them monthly. So first and foremost, make sure you're getting them from them monthly so that we can take a look at them and evaluate. And I like what you said, Tiff. ⁓   you can be, you can go over the top. It's a fine line, right? So I love looking at them every month and I'm not going to freak out if something's out of whack one month, but certainly let's look at the quarter, right? And make sure that those metrics are in alignment for the quarter. And to your point, I always like to speak in terms of like, we're going to crawl before we walk and we're going to walk before we run. Like,   In the crawling stage, let's just make sure where's your overhead, right? What percentage are we at there and what is our profit or EBITDA, so to speak, right? Where are we ranging there? That would be my first little steps to take and start looking at it.   The Dental A Team (07:10) Yeah, yeah, I totally agree. And I think what time of the month do you usually push for those PNLs to be received? I have my judgments, but what are yours?   DAT Kristy (07:21) like to say by the 15th. I'll give you a little grace and give you by the 20th, but the 15th is my ideal target.   The Dental A Team (07:28) Yeah, yeah. I think I'm a little stricter. If I don't have those CPAs reaching out to us by like the eighth to the 10th, I'm like, my gosh, how are we supposed to work with this? There's a lot of, and I ask that because there's a lot of clients out there that are getting them like the first week of the next, next month. And so maybe December, we're finally looking at October.   DAT Kristy (07:35) Thank   The Dental A Team (07:53) And that is like, gosh, such a lag that we've got these questions floating around of like, where's my cashflow TIF and how do I fix this, Kristy? And it's like, I don't know, because I don't have eyes on what's happening. The P &Ls should be much quicker and much cleaner than that. And realistically, it's just it's the bookkeeper going in and allocating the certain expenses to the category that they should be in. So it's time consuming.   but it shouldn't be too crazy. And if yours is too crazy, then we probably need to look at your spending. Do we need to dial back the number of orders that you're placing every month? Do we need to make sure that things are a little bit more simple on that side, that it can be done quicker? Because we wanna be able to make real-time adjustments as quickly as we can. If we're on a two-month lag.   then we're adjusting for two months ago, it could look totally different. And then next month we get two months ago and it's like, it was totally different. We didn't need to change it. And so we're just constantly spinning our wheels in that way if we're not getting the data fast enough. And that is, in my opinion, one of the easiest ways to ensure that you're financially healthy is really just ensuring, like you said, Kristy, that on an overtime basis, things are consistent and they're clear, that they make sense.   DAT Kristy (09:08) 100%. I like that you said push to the 10th, because obviously if, you know, in the walk or crawling stage, we're just learning, right? We have a little bit of buffer, but as we get to the top of our game, it should be more. And if everything is electronically done, it really is in there already. It's just a matter of organizing it, right?   The Dental A Team (09:30) Yeah, and I like to give myself the grace because I know or give them the grace. I typically know if we ask for it by the 10th, we're getting it by the 15th to the 20th. If I give them that leeway, they'll take it. And we know that's just how it works in that world. That's fine. We work with what we've got and figure it out. And I think it's a massive place to start, Kristy, is those P &Ls. And I think the P &Ls really outline   DAT Kristy (09:39) Thank   The Dental A Team (09:56) the financial health in so many different areas because it gives us insight to what is actually happening. Having those categories split out, we've talked about that a ton, we've done a ton of webinars on it and if you need help with that, reach out. We've got really simple sheets and documents that you can even send over to your bookkeepers and your CPAs that kind of outlines what we like it to look like so that it's simple to review.   But being able to see those over time is huge. I know I have a client that like one month was 48 % overhead and that's before Dr. Pay, that's before loans, right? And it's like, holy cow, we killed it. But then it's like, okay, but hold on, because the next month was 64%. So taking an average there because likely something got shifted, payments got posted, or I don't know, I've had some clients that's like, my gosh, I forgot to pay Henry Schein for two months. So then it's like that third month had this massive Henry Schein payment.   but over the quarter, it wasn't that bad. So making sure that we're looking at it month by month and over the quarter is huge. ⁓ Something that we've done, that we've ramped up ourselves and that we do ramp up with a lot of clients is really looking at our bank accounts constantly. And I know that Kiera and our financial team, they look at our bank accounts weekly on a weekly basis to make sure that everything makes sense, that things are.   where they're supposed to be that, you know, that we're not getting charged for things we shouldn't have been, et cetera, but then also that we're staying in alignment with the budget that we had set. And those budgets come from those P &Ls and those total numbers. Kristy, something I've realized recently in the recent years is while I was in practice, I would build our budgets for our spending. like our...   you know, five to 8 % for supplies or what have you or ortho budget, things like that. I would build it based off of our collections, air quotes on that word, and it would be our collections from Dendrix. I'd pull the collections for the last month. I'd build that budget based on the collections. And then Doc would be like, where's all the money? Like, well, I don't know, it should be there. But there's such caveats to what's been posted in Dendrix or your operating software.   compared to what's actually in QuickBooks, I found that I was running this like ragged race of trying to play catch up all the time with like even just the percentages for credit card fees and third party financing being taken out of our payments, just those simple tweaks make a massive difference. So building those budgets, Kristy, off of our actual P &L numbers, our actual QuickBooks collections has...   made a massive difference, I know, for a lot of my clients. How do you see that working for clients? And also, how do you see that working with a leadership team that maybe doesn't have access to or not looking at those P &Ls together? How do you suggest for financial stability and health in the practice, they really get that information down to the people that need it?   DAT Kristy (13:08) Yeah, absolutely. One of the things, ⁓ well, there's a couple things. We at Dental A Team keep scorecards for our clients and it could be as simple as adding that line in there and having the doctor put that dollar amount and having the budget calculate right there. Everybody can see it. They know what to spend. The other thing to that point Tiff is,   You know, a lot of times we look at the practice management, we see our collections, but how many times do we reconcile it with our QuickBooks? Like, really look at that and see. And obviously, just like you said, it could be a matter of when something was posted or when it came in, right, to the bank account. But I think that's an area that sometimes is overlooked. You know, there can be variance in there, obviously, for when things post, but...   what is that variance and how consistent are we having that variance? again, depending on which method you're using, if you're using the collections from your PMS or the collections that are posted in the P &L, we better be clear what that difference is and ⁓ account for it for sure. Right.   The Dental A Team (14:25) Totally agree.   And you actually reminded me just last week, I was in an office and I was like, what is happening here? I was going through their P and L and I'm like, okay, we've got, we've had some changes in the office. We've got some places that it was decreasing. Some places we spent more, some places we actively spent more on purpose. Like, but things just weren't adding up with what was coming through from the software. And I realized after an hour and a half of digging, I'm like, why is...   I put a line items, I updated the scorecard and I put a line item for like QuickBooks collections and then the PMS collections. And in comparison, I had it subtract and like tell me the difference in numbers. And there were months that were coming up $30,000 different that it looked like we collected $30,000 more in their software than what QuickBooks was showing us. Luckily, I know this office manager very well personally, like familiarly.   And I'm like, I know there's no conclusion to jump to here. Like something is not reporting correctly. And what I realized is they specifically use Dentrix. Dentrix will allocate any positive write-off or adjustment. if there's an adjustment that's adding money, it'll allocate it to production. If there's an adjustment that's removing money, it automatically adds it to collections.   So when you pull up the adjustment space in Dentrix, it'll show all positive production, all negative collections. So it was showing drastic differences. And so I was like, gosh, I totally forgot about this space in Dentrix that it does this. It's just, I call them the Dentrix-isms. It's just a Dentrix thing. It's very frustrating, but it just is what it is. So when I went through, I reallocated where the write-offs should be coming from. Now, caveat, messes up.   production collections for forever because it's now correcting it. So what you thought you had done, you didn't, and it fixes it. So the new numbers are more accurate, but you're going to be frustrated because it's different. But what it did when I did that and re-put in the collections numbers is that it brought that $30,000 difference down to a more manageable $1,200 to $3,000 difference, which is what we tend to see with the   care credit fees and all those different credit card processing fees, we typically see, I say like 5,000 or less, I'm not going to freak out about too much as long as it's inconsistent. I don't want to see consistency. I want to see really low numbers. And then again, sometimes some of that money is going to be pushed over to the next month. So quarterly, it made sense. Quarterly, it was beautiful. Month by month, it was a little wonky, but just making that   change because we were checking the financial health of the practice because things didn't feel like they were making sense. So we, the office manager and I pulled the full year's PNL and we did line item by line item comparison 2024 to 2025 percentage change on each space, went through and figured out where the spending was, went through and line itemed everything and then added it like you said to the scorecard to see those differences, massive.   massive improvements where the docs were feeling like cashflow was like, ⁓ we were freaking out. And it was like, well, these are the areas where you intentionally spent money and were actually only a 16 % difference overall year to year. And they were like, ⁓ so we didn't increase enough, but their spending was purposeful for taxes. We just didn't look that way yet on paper.   Regarding financial health of the practice, that was exactly what we did, but adding it, like you said, to the scorecard and looking at, I think the scorecard's just really cool because it allows you to see over time. Whereas a new sheet is I'm only dealing with today. So I'm only looking at today. I might look at it and say, oh my gosh, my employee percentage was 42%. That's real life, I've seen that in an office. It was 42 % this month, and you're like, cut hours. But over the quarter, it was,   30 % or 31%. We had a spike because we had a collections dip or whatever. So I think adding it where you're seeing that kind of comparison allows you to see what is the trend here or is this an abnormality? Does this level itself out? Am I on track for over time or do I need to jump and hot fire? And Kristy with that said, like, you think, as I'm saying that I'm thinking,   Is that a space where we could even tame our emotions around finances? Because we're seeing so much data in a bigger spectrum where we can see trends, uptrends or downtrends, rather than this like, my gosh, payroll was so high, I've got to tackle that. It's allowing us to see a broader picture. Do you think that helps reduce some of the emotional, like just quick fixes?   DAT Kristy (19:34) Absolutely. And we don't want to react, right? Many times we go to that mindset of cut, cut, cut. you, and you know, one of the things that I learned a long time ago is you can't focus on the opposite. So if we're focused on cutting, then we're not focused on producing, right? And so yeah, you're 100 % right, Tiff. I think it does calm the reactionary, right? It's good to know, notice, but then look at the bigger picture.   The Dental A Team (19:48) Yeah.   Mmm.   Yeah, gorgeous. As I was talking like, my gosh, Kristy, that's why you do so well with coaching in my opinion, because you are very, very good at being data and results driven, acknowledging the emotional aspect and not discrediting that by any means, but being able to focus back to what the drivers are and then being able to acknowledge and address any emotions that are still present. But you do well removing that because   we're looking at data and data is non-emotional. You can come up with something and there's been so many times where I could think of so many offhand where I've data-drivenly discussed something with a client and they're like, ⁓ and the emotion kind of disintegrates, it dissipates because it was attached to what they thought to be true. And when they saw the reality, there was no need for that emotion anymore.   DAT Kristy (20:59) Exactly. Well, and to be honest with you, it goes both ways, right? It's the same thing as if we're only looking at the practice numbers, sometimes they think they're doing very well or not doing well, either one. And then once we look at the overhead numbers, it's like, actually, you're here, you know? So ⁓ it goes hand in hand both ways. I always like to say, you know, if I had a pizza business and I was going to sell pizzas,   The Dental A Team (21:18) Yeah. Yeah.   I love that.   DAT Kristy (21:29) I need to break it down and figure out what it cost me to make the pizza, then I can go sell the pizza. But so many times we don't do that and we just put it out in front of us, right? And then on the back end of it, we do have to measure how many pizzas did we sell and how much did we actually spend. Sometimes we forget to go back and look at the cost too.   The Dental A Team (21:34) Yup.   Yeah, wow, that's a very good point. Very good point, which is where the P &Ls come in handy and the line items. And I think the P &Ls will group it and lump it into categories, but every now and again, maybe like once a quarter or so, really looking at what are they putting in those categories so that one, you're making sure they're still super accurate from the bookkeeper and two, that you're not like Amazon spending. There was a couple clients that I saw.   DAT Kristy (21:56) Mm-hmm.   The Dental A Team (22:19) I'm like, what is going on? Why is this category so jumpy? One month it's massive, another month it's not, and they get lumped into office supplies and front office supplies, and all of a sudden it's $3,000 when realistically budgeting-wise it should be $1,200. I'm like, what is in here? And they're like, Amazon goes in there. Every time we want something or Doc says something, we just press the order. And I was like, ⁓   Got it, we need some systems around Amazon or Walmart. I've seen like, I just run to Walmart and I grab what we need every week. And I'm like, my gosh, there's weekly ordering will hurt you every single time. Any kind of weekly ordering. If you can't budget the ordering in a monthly fashion or maybe twice a month, I'll give leniency on twice a month, then we need to talk. Cause that weekly ordering will hurt you every single time.   I think this is all really good, Kristy. I love this. I love this. And I go ahead.   DAT Kristy (23:16) Yeah. I was   to say, I agree with you. mean, we can liken it to our own space if we go to the grocery store with a list or without a list. What is our end result when we pay? You know, so I'm with you. I'm with you. I'm like for dental supplies, we can go to twice a month, but have it fixed and then make sure you're staying within the confines of the budget.   The Dental A Team (23:27) Yeah.   Yes, yeah, that's actually brilliant. Yeah.   Yeah, I agree. And I think that was that was a super great thought process there. Because if you're not planning even your dinners, right, I'll plan my dinners for the week. So then I know what ingredients I need and what ingredients if I know what ingredients I need for specific dinners, I know what I can reuse as well. Otherwise, I'm going to the grocery store just kind of getting random things that I think I can make into something. And I'm ending up at the grocery store a couple times a week to replenish or, you know, supply those missing pieces.   And so if you know what your schedule is, if you know on average how many crowns you're doing, how many fillings you're doing, how many implants you're doing, you can have an average guesstimate of how much of each supply you need to keep on hand, which is then going into your budget for your ordering. So that was beautiful. Yeah, good job. All right, guys, financial health is massive. And it's something that I think all of us, Kristy,   Trish, Monica, Dana, myself, we all just work really, really hard to ensure that it's top of mind for all of our clients. But if you're here listening and you're not yet a client of ours and you're a Dental A Team podcast listener for life, we love you and we wanna make sure you have this information too. please, by all means, somewhere around the 10th of the month, because we know it's probably gonna go longer, make sure you've got those panels in there. Talk to your bookkeeper. If you are the bookkeeper, I have a couple clients like that.   Put it your calendar, you guys. If you are your own bookkeeper, that's fine. I'm not gonna judge you. I think it is a task that you can easily pay for, but I'm not here for that. If you are your bookkeeper, put it in your calendar and you should have that sucker done by like the fifth or the eighth of the month because everything should be closed out. Review your PNLs monthly and quarterly and yearly. Review your spending habits constantly. I have a lot of practices that'll look weekly.   I have a lot of practices that'll look monthly, whichever works best for you. Just make sure you're reviewing those spending habits and then budget for your team. So your supplies ordering, your front office, those are the easiest places to budget. Make sure that you've got an ortho budget added in there. If you have ortho fees and ortho costs that are outside of like Invisalign, things like that. I have a lot of practices that do bracket style ortho and they need a lot of supplies that has to be separated out.   Those are your pieces, you guys. Those are the easiest ways that you can tackle real life, real life, in time, financial health. And we want you to go do that. Kristy, thank you so much for your insight. You truly do so well with your clients and we get to see their progress constantly and those needles are always moving. And I know that it's because you can take that black and white results driven perspective. So thank you for everything you do for your clients and everything that you bring to Dental A Team every day.   DAT Kristy (26:33) Thank you, it's fun.   The Dental A Team (26:35) I know,   I know, I love watching you do it. You really do love it. And it makes me really happy. All right, guys, that's a wrap for today. Go leave us a five star review. Let us know what was super helpful. Maybe there's some tips and tricks you've got that you can share with the world. I'm telling you, people really do go read those. So if you have things in there, they will see them. You can drop us an email, Hello@TheDentalATeam.com. We'll be happy to get you over any documents that might help. We do have some.   budgeting information, we do have some overhead spreadsheets, things like that. If you need help with that, just reach out and we'll catch you next time on the Dental A Team podcast. Thanks guys!

The October Logistics Managers' Index data, detailed in the article October LMI shows price increases outpacing capacity growth, shows transportation utilization (57.3) and pricing (61.7) surged, reversing the prior negative freight inversion. This tight market prediction is worsened by the immediate air cargo capacity shock stemming from the UPS MD-11 crash on November 5th, a tragedy covered in LATEST: Death toll in UPS cargo jet crash rises to 7. This incident led to seven confirmed fatalities and resulted in the indefinite closure of the Louisville Muhammad Ali International Airport and the complete halt of UPS Worldport operations. Regulatory pressure is further squeezing the driver pool through the FMCSA's new non-domiciled CDL rule, which prevents Ukrainian war refugees from renewing legally obtained licenses, a complex issue explored in CDL overhaul tailspins Ukrainian truckers. Meanwhile, labor friction is mounting as the Teamsters union accuses UPS of violating its contract by diverting delivery work to non-union gig drivers at subsidiaries like Roadie and Happy Returns, a conflict covered in Teamsters union to press UPS over Roadie use of gig drivers. Shifting focus to corporate performance, Uber Freight revenue flat in Q3 as company posts strong delivery gains reports the freight unit's Q3 revenue remained flat at $1.31 billion and incurred a loss, even as Uber's overall mobility and delivery divisions saw strong growth and record adjusted EBITDA. Conversely, TFI CEO Alain Bedard anticipates a weak fourth quarter, yet offers a strongly positive long-term outlook, particularly for 2026, due to operational improvements in LTL and potential infrastructure impacts, as detailed in TFI's Bedard sees a stronger 2026 after a weak 4Q. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we sit down with Micah Anderson, CEO of LEEF Brands (CSE: LEEF | OTCQB: LEEEF), to break down the company's Q3 2025 financial results and what's driving its turnaround story.LEEF delivered a standout quarter with revenue up 24% year-over-year to $8.4M, gross margins doubling to 45%, and the company generating positive adjusted EBITDA and free cash flow for the first time. We discuss the key drivers behind that performance — from the first successful harvests at Salisbury Canyon Ranch in California to the rapid launch of LEEF's extraction lab in New York.Topics we cover:• The execution behind Salisbury Canyon Ranch and New York — LEEF's two 2025 strategic goals — and how they are reshaping cost structure and margins.• The operational levers behind a 23-point margin expansion: how much came from vertical integration vs. new market mix.• How LEEF is maintaining cost discipline with operating expenses down 12% YoY while growing topline performance.• The company's approach to managing 280E taxes and its stance on accruing vs. paying UTP.• Why LEEF added Bitcoin to its corporate treasury, and how Micah views Bitcoin allocation versus other growth investments like expansion or scaling SCR.• Plans for the next phase: expanding cultivation at Salisbury Canyon Ranch to 187 acres, scaling production in New York, and evaluating new state entries every 12–24 months.After Micah joins, we broaden the discussion with a look at the Q3 earnings season across cannabis, including Verano and Jushi. We dig into trends like margin compression, limited catalysts until 2026+ in key states, and how efficiency and vertical integration are separating strong operators from those treading water.A grounded, data-driven discussion on execution, cost control, and strategy in a tough market — plus a look at where real growth may come next.

Cash is king, period. In this episode, the operators get real about why cash flow matters more than your P&L, EBITDA, or vanity revenue numbers. They share their worst "cash crunch" war stories, like pushing payroll or having to choose between buying inventory and paying taxes. To prove a hard lesson: even profitable businesses go bankrupt all the time. You'll learn the backward-sounding truth of e-commerce: rapid growth bleeds cash, while slowing down can actually fill your bank account. They get into the weeds on risky trend-based inventory, and how to get your suppliers to finance your growth by trading margin for better terms. They also cover the real cost of equity (why you should probably just take the money) and why you need a serious finance team and audits long before you ever think about selling.Chapters:00:00:00 - Introduction00:03:07 - Worst Cash Crunch Moments00:18:26 - How Growth & Inventory Type Affect Cash Flow00:34:50 - Tactical Ways to Protect Cash00:46:26 - The Truth About Equity Financing01:03:27 - Partnership, Paranoia, and Playing the Leverage GamePowered By:Fulfil.io.https://bit.ly/3pAp2vuThe Only Cloud ERP Designed to Efficiently Scale 8 and 9-Figure Brands. Northbeam.https://www.northbeam.io/Richpanel.https://www.richpanel.com/?utm_source=9O&utm_medium=podcast&utm_campaign=ytdescSaras.https://bit.ly/9OP-YtdescRivo.https://www.rivo.io/operatorsSubscribe to The Marketing Operators Podcast here:https://www.youtube.com/@MarketingOperatorsSubscribe to The Finance Operators here:https://www.youtube.com/@FinanceOperatorsFOPSSign up to the 9 Operators newsletter here:https://9operators.com/

Send us a textIn this episode of WTR Small-Cap Spotlight, Shahin Amini, Head of Investor Relations and Communications at Meren Energy (TSX: MER), joins hosts Tim Gerdeman and Jeff Robertson of Water Tower Research to discuss how Meren's recent transformation and rebranding reflect its evolution into a full-cycle, cash-generative exploration and production company.Amini details Meren's high-quality deepwater assets in Nigeria, its carried positions in Namibia and South Africa's Orange Basin, and upcoming catalysts including the Venus field development and infrastructure-led exploration. The conversation also highlights Meren's strong balance sheet (0.6x net debt-to-EBITDA), a tripled base dividend, and the company's strategy of partnering with industry leaders like TotalEnergies, Chevron, and QatarEnergy to pursue growth while protecting shareholder value.

Jordan Shlosberg: Why agency recruiters will win (and internal TA won't)Jordan Shlosberg runs Atlas CRM—the fastest-growing, AI-native recruitment platform in the world.Thousands of recruiters use his technology every day. Real-time data. Real billings. Real problems being solved.If anyone knows what's actually working with AI in recruitment, it's him."Internal talent teams have a lot to worry about. Agency recruiters? There's a renaissance coming."Here's why:Agency recruiters have years of candidate conversations. Reference calls. Market knowledge built through relationships. The ability to cut through 1,500 AI-generated applications with actual insight.Internal TA has a resume. Sometimes a screening call. That's it.But here's the problem: agency recruitment only represents 7-8% of all hires in Europe.We could grow our share massively. Or we could shrink into irrelevance.The difference? How quickly we become AI-literate.This week on The RAG Podcast, Jordan and I go deep on what's actually happening in recruitment AI.We cover:Why Atlas crossed $1M ARR in 10 months while the market contractedHow clients are growing from 4 to 15 seats in under a yearThe fatal flaw in "agentic job boards" like Jack & JillWhy sourcing platforms only show you 50% of LinkedIn's dataThe partnership we're launching to make recruiters top 5% AI usersThis isn't another "AI is coming for your job" panic post.This is strategic intelligence from someone watching what actually works across thousands of recruiters every day.__________________________________________Episode Sponsor: AtlasAdmin is a massive waste of time. That's why there's Atlas, the AI-first recruitment platform built for modern agencies.It doesn't only track CVs and calls. It remembers everything. Every email, every interview, every conversation. Instantly searchable, always available. And now, it's entering a whole new era.With Atlas 2.0, you can ask anything and it delivers. With Magic Search, you speak and it listens. It finds the right candidates using real conversations, not simply look for keywords.Atlas 2.0 also makes business development easier than ever. With Opportunities, you can track, manage and grow client relationships, powered by generative AI and built right into your workflow.Need insights? Custom dashboards give you total visibility over your pipeline. And that's not theory. Atlas customers have reported up to 41% EBITDA growth and an 85% increase in monthly billings after adopting the platform.No admin. No silos. No lost info. Nothing but faster shortlists, better hires and more time to focus on what actually drives revenue.Atlas is your personal AI partner for modern recruiting.Don't miss the future of recruitment. Get started with Atlas today and unlock your exclusive RAG listener offer at https://recruitwithatlas.com/therag/__________________________________________Episode Sponsor: HoxoEvery recruitment founder is investing in LinkedIn.Spending thousands on Recruiter licences.Building connections. Posting content. Growing networks.But here's the question almost no one can answer:How much revenue is LinkedIn actually bringing into your business?Most founders have thousands of connections but no clear process to turn that attention into cash.That's the problem we solve.At Hoxo, we help recruitment founders build predictable revenue systems on LinkedIn, not just noise or vanity metrics.Our clients are turning LinkedIn into £100K–£300K in new billings within months, using their existing...

In this inspiring episode of The Money Mondays, host Dan Fleyshman sits down with serial entrepreneur, speaker, and visionary Sean Callagy, a legally blind attorney on the verge of becoming the first self-funded unicorn founder with a billion-dollar valuation based on EBITDA.Sean shares how he went from broke and going blind to running a portfolio of thriving companies, including Callagy Law, Callagy Recovery, and the cutting-edge ActEye AI platform, all driven by his mission to elevate human potential through integrity and influence.Together, Dan and Sean dive deep into:✅ Building multiple 8- and 9-figure businesses with integrity and heart✅ Why influence is the only human attainable superpower✅ How to scale teams using the “three loyalties” framework✅ The future of AI and why Sean believes it can change the world for good✅ Real talk on money, lifestyle creep, and living below your means✅ The mindset behind sustainable giving and purpose-driven leadershipSean also shares powerful insights from his work with Tony Robbins, lessons from overcoming blindness, and the philosophy that drives his “Unblinded” movement, proving that success isn't about what you see, but what you believe.

In this conversation, I catch up with longtime friend and operator, Stephanie Quay—a five-time acquisition veteran who recently launched Five Experts, a platform matching early-stage companies with proven operators to drive value creation in the first five years. We trace her zig-zag path from film school and TV.com (hi, CNET days!) to growth-stage leadership across PE- and VC-backed companies, and the playbooks she now packages for founders, investors, and fractional experts.Stephanie opens the hood on the 5×5×5 framework—from the first 90 days through year five—and how to pull the right levers (margin, operations, capital efficiency, customer success, revenue) without losing your culture or your North Star. We also get into what makes someone an expert (outcomes + the ability to teach), why “warm demander” leadership works, and how to protect your focus by controlling what you can (sprinters, we see you).What you'll learnHow to diagnose growth inflection points in the first five years—and what to do in each phaseThe 5 value levers that move EBITDA (with real examples from PE-backed turnarounds)Why breaking apart sales vs. customer success can unlock outsized growthThe difference between experience and expertise (hint: repeatable outcomes + coaching)How to set a clear mission/ICP so teams row in the same direction“Warm demander” management: high standards + high supportMindset for founders: doubt is normal—return to your mission fastWho this is for:Founders, operators, and investors navigating resource-constrained growth; women in leadership building high-performing teams; and anyone curious about turning career zigzags into a superpower.Connect with Stephanie:LinkedInFive ExpertsEmail: growth@fiveexperts.comFavorite lines“An expert has proven the outcome—and can teach the path back.”“Culture and mission aren't posters; they're the daily operating system.”“Control the controllables. Ignore the rest.”

#657 What does it really take to sell your business for millions? In this episode, host Brien Gearin sits down with Nick Bradley, founder of High Value Exit — a global expert who's helped lead 26 business exits totaling $5 billion. Nick reveals how founders can prepare their businesses for a high-value sale, what private equity buyers really look for, and why only 2 out of 10 companies ever sell. From building transfer value and mastering EBITDA to designing your company with the end in mind, this conversation is a masterclass in scaling, strategy, and smart exits for entrepreneurs aiming big! What we discuss with Nick: + Nick's $5B in business exits + Lessons from private equity world + Why only 2 of 10 companies sell + Designing your business with the end in mind + The five pillars of “Scale to Sale” + Reducing risk and building strong foundations + Understanding EBITDA and profitability + What makes a business attractive to buyers + Common pitfalls when selling a company + Knowing if and when you should scale Thank you, Nick! Check out High Value Exit at HighValueExit.com. Follow Nick on LinkedIn. Watch the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠video podcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ of this episode! To get access to our FREE Business Training course go to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠MillionaireUniversity.com/training⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. And follow us on: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tik Tok⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Youtube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Twitter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ To get exclusive offers mentioned in this episode and to support the show, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠millionaireuniversity.com/sponsors⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Want to hear from more incredible entrepreneurs? Check out all of our interviews ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠! Learn more about your ad choices. Visit megaphone.fm/adchoices

Entrepreneurs spend years hustling to grow their businesses, but too many leave life-changing wealth on the table simply because they don't know the rules of the exit game. In this episode of BizNinja Entrepreneur Radio, Tyler sits down with private equity expert and author Nick Bradley, who has helped lead more than $5 billion in successful exits, to break down how founders can scale smarter, negotiate better, and prepare themselves emotionally and financially for the biggest moment of their entrepreneurial journey.What You'll Learn• Why founders fail at exits they should win• The real difference between startup founders vs. scale-up builders• How private equity actually works behind closed doors• The two sets of rules in every deal: price vs terms• Why culture and transferable value matter more than you think• How roll-ups and acquisitions multiply valuations quickly• What it means to operate off the buyer's math• How founders can prepare emotionally for losing the CEO hat• Where the biggest growth opportunities are in the next decade Chapters00:00 Welcome to BizNinja & Meet Nick Bradley01:00 Nick's First Business and Early Entrepreneurial Spark03:30 Transition to Corporate and Discovering Private Equity06:00 Why Founders Fear PE and What They Get Wrong09:00 The Emotional Rollercoaster After Selling Your Business11:30 Prize vs Prey: How Buyers Judge Founders14:00 Price vs Terms: The Rules Most Founders Miss17:30 Preparing 12–36 Months Before an Exit19:30 Roll Ups, Arbitrage & Scaling Through Acquisitions23:00 Culture, Vision & Transferable Value in PE Deals26:00 Big Industry Opportunities on the Horizon27:30 Nick's Move to Dubai & Personal Growth28:30 Where to Connect with Nick & Final Takeaways

In this episode, I sit down with Kelly Tope, Vice President of Franchise Development at Full Speed Automotive (the umbrella behind brands like Grease Monkey & Speedee). We go deep into:Why automotive is an overlooked but high-potential franchise category.How multi-unit growth works (40%+ of their franchisees are multi-unit/multi-brand).The DNA of top performers — business acumen + the “aggressive follower” mindset.Investment ranges, unit economics (top 25% units doing ~$1.8 M AV + $400-$500k EBITDA!).Where EVs and AI are really headed in auto service.What mistakes see franchises struggle — and how to avoid them.A special message for first-time franchisees: how to evaluate fit, culture, and franchisor support.

On today's episode, Dr. Mark Costes is joined once again by Troy Eckard, CEO of Eckard Enterprises, for a deep dive into how dentists can strategically manage the proceeds from selling their dental practices. With over $1.1 billion in assets under management and nearly four decades of experience in domestic oil and gas, Troy brings unmatched expertise in alternative asset investing.   This episode focuses on what to do when a large liquidity event—like a DSO buyout—leaves you with millions to allocate and big tax consequences to consider. Mark and Troy break down a hypothetical case study, walking through how to protect, grow, and optimize that capital with working interests, mineral rights, and class-A real estate. They also explore the dangers of common investment traps, like ATMs and conservation easements, and why tax strategy should start with worst-case scenarios. Whether you're looking to offset W-2 income, replace previous EBITDA, or simply avoid bad deals, this episode is packed with practical, no-nonsense advice for high-net-worth dental professionals. Be sure to check out the full episode from the Dentalpreneur Podcast! EPISODE RESOURCES https://eckardenterprises.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

Anthony Scilipoti is one of the sharpest minds in investing. He's the President and CEO of Veritas Group of Companies. He called the collapses of both Valeant Pharmaceuticals and Nortel before they happened, and now he has some thoughts on AI. We talk about asking better questions, reading the fine print, the role of short selling, and what it means to be wrong. We explore why AI gives you information but not insight, why cheap risk is often the most expensive, and why nothing matters until it does. It's a conversation about the difference between seeing and understanding and the discipline to notice what everyone else ignores. This episode is not investment advice. It's time to listen and learn. ----- About Anthony Anthony Scilipoti is one of the sharpest minds in investing. He's the President and CEO of Veritas Group of Companies. ----- Approximate Chapters: (00:00) Introduction (01:26) Early Career (02:53) The Enron Scandal (05:48) Lessons on Auditing (16:12) The AI 'Bubble' and the State of the Market (18:46) Ad Break (20:50) The AI 'Bubble' and the State of the Market (Cont.) (28:12) Parallels Between the Fall of Nortel Networks and the Current AI Economy (35:15) Ad Break (36:10) Parallels Between the Fall of Nortel Networks and the Current AI Economy (Cont.) (39:14) Investing Rules for Better Investments (42:14) Red Flags to Look Out for When Investing? (45:56) The Rise and Fall of Valeant Pharmaceuticals (53:04) Is a Complicated Corporate Structure Bad? (55:54) Companies Don't Start Out Being Crooked (57:53) Why is EBITDA a Disastrous Measurement? (1:00:47) How Should Investors See Stock Options / How to Account for Stock Options (1:06:30) What Incentives to Look for in a Company When Investing? (1:11:31) The Rise of Index Investing (1:15:41) Buybacks and Share Count (1:21:21) What Makes Warren Buffett a Unique Investor? (1:26:58) The Power of the Retail Investor (1:32:30) What Is Success for You? ----- Thank you to the sponsors for this episode: Basecamp: Stop struggling, start making progress. Get somewhere with Basecamp. Sign up free at http://basecamp.com/knowledgeproject reMarkable: Get your paper tablet at https://www.reMarkable.com today .tech domains: Nothing says tech like being on .tech https://get.tech/ ----- Upgrade: Get a hand edited transcripts and ad free experiences along with my thoughts and reflections at the end of every conversation. Learn more @ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠------Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it's completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠------Follow Shane ParrishX ⁠⁠⁠⁠⁠@ShaneAParrish⁠⁠⁠⁠⁠ Insta ⁠@farnamstreet⁠ LinkedIn ⁠Shane Parrish Learn more about your ad choices. Visit megaphone.fm/adchoices