Ep #101: The Critical Number Everyone Gets Wrong When Selling Their Business
Release Date: 08/07/2024
Ep #118: 401(k) for Business Owners Explained: Traditional vs Safe Harbor, Contribution Limits, and Common Myths
Business Exit Success
Do you need help planning your retirement? → How ready are you to retire? → Are you a business owner looking to build wealth and lower your tax bill? In this episode, we break down everything you need to know about setting up a 401(k) retirement plan for small businesses including how to choose between a Traditional 401(k) and Safe Harbor 401(k). You’ll learn how to leverage the 2025 contribution limits, automate your savings strategy, and avoid costly mistakes with the help of a Third-Party Administrator (TPA). Key Topics Covered: Common myths about 401(k) plans for entrepreneurs...
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Ep #117: Selling Your HVAC Business? Buyers Want These 4 Things to Pay Top Dollar
Business Exit Success
Do you need help planning your retirement? → How ready are you to retire? → Thinking about selling your HVAC business? Here are the 4 things buyers are looking for before they'll pay top dollar. Most owners leave hundreds of thousands of dollars on the table simply because they don’t know what buyers are really looking for. In this video, I’ll break down the 4 proven strategies that can help you sell your HVAC company for maximum profit and avoid the mistakes that destroy deals. You’ll learn: Why "getting out of the van" can double your sale price How maintenance agreements boost...
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Ep #116: Five Changes Business Owners Wish They Made At Age 60
Business Exit Success
Do you need help planning your retirement? → How ready are you to retire? → If you’re a business owner in your 50s or 60s thinking about selling your company, this is for you. After working with tons of business owners as a Certified Financial Planner and Exit Planning Advisor, I’ve seen a pattern. People hit retirement and suddenly wish they had made a few key moves way earlier. Today I’m sharing the top 5 things business owners consistently tell me they wish they’d done at 60, so you don’t make the same mistakes. Here’s what we’ll cover: Why guessing your business value...
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Ep #115: Sell Your Business and Retire if You Answer YES to These 7 Questions
Business Exit Success
Do you need help planning your retirement? → How ready are you to retire? → ---------------- A lot of business owners dream about selling their business and retiring, but not everyone is truly ready. In this video, I’ll walk you through 7 critical questions to determine if you’re prepared for a smooth and profitable exit. If you can confidently say YES to all of these, you’re on the right track. If not, don’t worry, I’ll provide actionable insights on what you can do next!
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Ep #114: Business Owner Retired at 60 with $850k and Regretted It. Here's Why.
Business Exit Success
Do you need help planning your retirement? → How ready are you to retire? → Mark sold his business at 60 and walked away with $850,000. A year later, he was filled with regret. Why? Because like many business owners, he didn’t plan beyond the sale. In this episode, I walk you through the four major pitfalls that caused Mark's retirement to unravel and how you can avoid the same costly mistakes. Whether you're planning to exit in one year or five, understanding these critical areas could save you from a million-dollar mistake.
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Ep #113: Why Business Owners Go Broke After Selling (5 Exit Planning Mistakes)
Business Exit Success
Do you need help planning your retirement? → How ready are you to retire? → Many business owners go broke after selling because they underestimate taxes, overspend without a plan, and fail to invest wisely leading to financial regret and instability. In this episode, we break down the five biggest exit planning mistakes and reveal strategies to protect and grow your wealth after selling your business.
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Ep #112: Exit Planning Masterclass: How to Unlock the Wealth In Your Business (Strategic Planning for Business Owners)
Business Exit Success
Do you need help planning your retirement? → How ready are you to retire? → Selling your business is one of the most significant decisions you'll make as a business owner, whether you’re retiring, transitioning to new leadership, or planning to sell your business. Listen in and learn: The three components of your exit readiness Essential steps to prepare your business for sale Strategies to maximize the financial and personal benefits of your exit
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Ep #111: Unlocking The Freedom Point: How to Exit Your Business and Achieve Financial Independence
Business Exit Success
Do you need help planning your retirement? → How ready are you to retire? →
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Ep #110: 6 Reasons To Retire As Soon As Possible
Business Exit Success
Do you need help planning your retirement? → How ready are you to retire? → The Value of Time: Why time is our most precious resource and why delaying retirement could cost you. Health Benefits: How retiring can significantly reduce stress and improve your quality of life. Limited Best Years: Understanding the difference between lifespan and health span, and why your healthiest years might be right now. Strengthening Relationships: How retirement allows you to invest in meaningful connections with family and friends. Breaking Free from Work Identity: Avoiding the trap of...
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Ep #109: 401K Loans: The Pros, Cons, And Major Risks To Avoid
Business Exit Success
Do you need help planning your retirement? → How ready are you to retire? → Listen in as I break down the critical details of 401k loans—the pros, cons, and major risks you need to be aware of before borrowing from your retirement savings. We discuss how a 401k loan works, the ease of accessing funds, and the potential advantages like no credit checks and quick approval. However, we also explore the often-overlooked dangers, including missed investment growth, double taxation, and the significant risk of repayment penalties if you change jobs or can't pay back the loan in time....
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In this episode, I discuss the critical number every business owner gets wrong when selling their business: the net amount that goes into their pocket after the sale. I explain the various deductions that can significantly reduce the final proceeds from the sale price, including broker fees, outstanding debts, and taxes. Using a real-life example, I illustrate how a business sale price of $5.2 million can dwindle to just over $3 million after all deductions. Tune in to learn how to accurately calculate your net proceeds and ensure you're financially prepared for life after your business sale.