What is an Advisory Board and How Best to Use One – A Discussion with Two Entrepreneurs
Release Date: 07/29/2022
I know You Want to – But… Think Twice About Taking Capital From a Strategic Partner When You’re a Small Business
Deal Team Six
Your hosts, Tammie Miller and Tim Oleszczuk, welcome you to another Deal Team Six podcast. Today, they address the difficulties an entrepreneur endures when it comes to funding and starting a business, and how incredibly attractive it can be when a large corporation or big competitor offers up capital. Let’s listen to the different possible scenarios! [2:06] What is a Strategic Buyer? It is another company or potential acquirer in your industry, it can be a competitor, or someone doing something similar to your business. [3:05] What happens if a larger business is interested in...
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Questions You Should Ask the PE Firm During Management Presentations
Deal Team Six
Tammie Miller and Tim Oleszczuk, your hosts, welcome you to another episode of the Deal Team Six podcast. Today they talk about management presentations, those situations when you are starting to bring back prospective buyers, and they are getting to the next layer of a sale process. This is an excellent opportunity for them to listen to specific aspects of the company. During management presentations, the sellers get to know the potential buyers, which is a great time to ask questions. Tammie and Tim are disclosing the questions discussed in today’s episode in a blog post titled...
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What is an Advisory Board and How Best to Use One – A Discussion with Two Entrepreneurs
Deal Team Six
Tammie Miller, your host, welcomes you to another episode of the Deal Team Six podcast. In this episode, Tammie has conversations with two entrepreneurs/business owners about their experiences with Advisory Boards. Today’s guests are Jarrod Lopiccolo, CEO and Co-Founder of Noble Studios, a creative digital performance marketing agency based in Reno, Nevada and Tom Nelson, President of Nelson Container Corporation, a privately held high-quality, full service, box manufacturer based in Germantown, Wisconsin. (9:27) As an interesting aside, both Jarrod and Tom work with their wives in their...
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Real Estate as Part of a Mergers and Acquisitions Transaction
Deal Team Six
Tammie Miller and Joe Froehlich, your hosts, welcome you to another episode of the Deal Team Six podcast. In today’s episode, Tammie and Joe discuss ways to think about real estate in your M&A transaction.
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Misfortunate Events: Management Presentations and Dinners with Tammie Miller and Tim Oleszczuk
Deal Team Six
Tammie Miller and Tim Oleszczuk, your hosts, welcome you to another episode of the Deal Team Six podcast. Today, they are diving deep into misfortunate events. Both Tammie and Tim have worked in M&A for more than two decades and they have experienced some strange behavior from their clients. Management presentations and dinners have proven to be very stressful moments. Listen to this episode to have a little fun and learn how to ease these crucial moments during a transaction
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Rep & Warranty Insurance in M&A with Scott Wolf and Julia Papastavridis
Deal Team Six
Tammie Miller, your host, welcomes you to another episode of the Deal Team Six podcast. In this episode, Tammie is accompanied by Scott Wolf and Julia Papastavridis both from Willis Towers Watson, to talk about Rep & Warranty Insurance in M&A transactions, and specifically what sellers should know.
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Professionalizing and Selling a Family-Owned Business with Lynn Marsh
Deal Team Six
In this episode, Tammie is accompanied by Lynn Marsh, who is now the President at Road Widener and was formerly COO of a family-owned business that was involved in a sale transaction.
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All You Need to Know About Scaffolding Software with Brian Webb and Ali Hajighafouri
Deal Team Six
Tammie Miller and Tim Oleszczuk, your hosts, welcome you to another episode of the Deal Team Six podcast. Today they are accompanied by Brian Webb founder and CEO of Avontus Software and Ali Hajighafouri, Sales Director for Avontus, to talk about scaffolding, software, data, and technology.
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Episode 005: Selling to Private Equity with Jim O’Rourke
Deal Team Six
In this episode of the podcast, Tammie Miller and Tim Oleszczuk, your hosts, are joined by Jim O’Rourke who is the former president and CEO of A&A Manufacturing. Jim sold to private equity and is sharing in this episode the details about this process, the pros and cons, and how he rolled equity as part of that transaction.
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Episode 004: Embracing the Entrepreneurial Spirit with Dustin Reynolds
Deal Team Six
Tammie Miller, your host, is joined today by Dustin Reynolds. He is the vice president of business development at Badgerland Disposal. Dustin is an accomplished entrepreneur and leader who focuses on developing talent, innovation, and creativity while streamlining operating efficiencies to decrease costs and promote organizational growth. He’s energetic with a winning mentality that leads to results, success, and developing diverse teams to achieve exceptional results.
info_outlineTammie Miller, your host, welcomes you to another episode of the Deal Team Six podcast. In this episode, Tammie has conversations with two entrepreneurs/business owners about their experiences with Advisory Boards.
Today’s guests are Jarrod Lopiccolo, CEO and Co-Founder of Noble Studios, a creative digital performance marketing agency based in Reno, Nevada and Tom Nelson, President of Nelson Container Corporation, a privately held high-quality, full service, box manufacturer based in Germantown, Wisconsin.
- (9:27) As an interesting aside, both Jarrod and Tom work with their wives in their companies. They share their secrets to successfully integrating family and work and knowing when to separate the two.
- (15:24) What is the difference between an Advisory Board and a Board of Directors? An Advisory Board provides advice or insight but has no governing power or control and no fiduciary responsibility for shareholders or owners. Some companies have both an Advisory Board and a Board of Directors. Jarrod talks about how he decided to have an Advisory Board rather than a Board of Directors.
- (19:03) Tom shares how he inherited an Advisory Board but later decided he needed to have his own.
- (22:51) How do you best use your Advisory Board? Jarrod shares his three-problems method.
- (30:33) Tom talks about the specific talents he was looking for when searching for members for his Advisory Board.
- (33:00) What should the board composition look like? Jarrod shares his interesting perspective about it: “Never put a lawyer or an accountant on your advisory Board.”
- (36:10) How do you ask people to be on your Advisory Board? Tom shares his experience when asking people to be part of his Advisory Board, which is usually met with curiosity and gratefulness.
- (41:25) Jarrod shares his perspective on Term Limits (since an Advisory Board shouldn’t be thought of as a permanent commitment).
- (47:01) The entrepreneurial life can be a little lonely. Advisory Boards provide both positive and negative feedback, which is greatly needed for entrepreneurs to keep on learning.
- (52:23) What about entrepreneurs that dislike the idea of having an Advisory Board? Where should they go for guidance? If an entrepreneur does not like the vulnerability implied in having an Advisory Board, they could network; Tom explains this idea.