In this episode of the Can I Borrow Your Car podcast, Mike is joined by George Sandman, Owner of Growth-Drive.com to discuss the critical role of collaboration in business growth. They explore how effective collaboration can lead to better client outcomes, the importance of setting expectations, and the dynamics of professional relationships. The conversation emphasizes the need for clear communication, trust, and mutual support among advisors to enhance their effectiveness and build a culture of collaboration. They also touch on the significance of referrals and how new advisors can navigate their careers in collaborative environments.

Takeaways:

Collaboration is essential for business success.

Quality assurance is key when identifying collaborators.

Effective communication can prevent misunderstandings.

Setting expectations is crucial in collaborative relationships.

Trust is built through consistent communication and support.

Collaboration can lead to better client outcomes.

New advisors should focus on delivering value to gain trust.

Referrals are a powerful tool in building professional relationships.

A culture of collaboration enhances overall business performance.

Over-communication can be beneficial in maintaining relationships.

Connect with George: [email protected] and growth-drive.com

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Summary

In this episode, Mike discusses the importance of maintaining a full sales pipeline, especially for professional advisors. He emphasizes the need for trust in building relationships and the effectiveness of both macro and micro strategies in client acquisition. We also highlight the significance of nurturing relationships over time and identifying key individuals who can help in the referral process.

Key Takeaways

Winter is coming; ensure your sales pipeline is full.

Trust is essential in professional relationships.

Macro strategies are small, consistent actions.

Micro strategies involve harvesting relationships periodically.

Nurturing relationships is crucial for long-term success.

Identify key individuals who will help you.

Prepare for economic downturns by having options.

Referrals take time and effort to cultivate.

Focus on people who will actually help you.

Building a strong network is vital for business growth.

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In this episode, Mike Garrison shares insights gained from working with new clients, emphasizing the importance of a personal plan in exit planning. He discusses how understanding personal aspirations can lead to better business outcomes and the significance of systematizing client acquisition to enhance business value. The conversation highlights the need for a culture of caring within organizations to ensure both personal and professional success.

Takeaways

Working with new clients forces you to up your game.

A personal plan is crucial for business owners.

75% of business owners are unhappy after an exit.

Connecting actions to desired outcomes is essential.

Systematizing client acquisition increases business value.

Decentralizing the owner is key for growth.

Capturing the culture of the organization is important.

Risk mitigation is influenced by the owner's buy-in.

A culture of caring leads to better business outcomes.

Predictable cash flow is a goal for successful businesses.

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In this episode of the "Can I Borrow Your Car" podcast, host Mike Garrison delves into the foundational steps for building an ideal advisory practice, focusing specifically on the growth phase. Garrison frames this as the first of a two-part series, emphasizing that success in business comes from treating people right while striving for excellence.

He outlines a seven-step process for advisors aiming to create their ideal practice:

• Define Your Ideal Client: Garrison stresses the importance of clearly identifying the type of client who brings the most satisfaction and profitability, and aligning your service model to exceed their expectations.
• Assess Your Current State: Evaluate how many ideal clients you currently have, the total client base, and whether your existing service model can support your goals.
• Set Your Growth Interval: Determine the realistic number of ideal clients you can onboard each year without sacrificing service quality, and set clear acquisition targets.
• Engineer Your Referral System: Garrison advocates for a proactive, giving-based referral strategy, highlighting its effectiveness—especially for advisors seeking more sophisticated clients.
• Double Your Activity Targets: He encourages advisors to set ambitious, measurable activity goals for both giving and receiving referrals, noting that most people underestimate the effort required.
• Share Your Vision: Communicate your business goals and vision to your network to attract support and potential referrals.
• Build a Waiting List: As you approach your ideal client count, maintain a waiting list to ensure continuity and allow for strategic growth or transitions.

Throughout, Garrison emphasizes the importance of relationship-building, proactive marketing, and maintaining a mindset of continuous improvement. He concludes by reminding listeners that building an ideal practice is a journey worth pursuing, one that allows advisors to grow their business and love their life.

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In this episode of the "Can I Borrow Your Car?" podcast host Mike Garrison is joined by Graham Stephen, founder of Bizval Global, and Kyle McCulloch, VP based in Austin, Texas, for a candid discussion on business valuations, trust, and building a sustainable advisory ecosystem.

The conversation opens with personal anecdotes, highlighting the hosts' unique backgrounds and the deep trust between them, especially around shared experiences as parents of special needs children. Graham, a former racing driver from South Africa, introduces Bizval Global’s mission: making business valuations accessible, jargon-free, and focused on empowering entrepreneurs. He stresses that while technology is useful, the heart of business is trust and human connection.

Kyle shares his journey from South Africa to the U.S., where he gained firsthand experience with the challenges small businesses face, particularly the gap between outward appearances and internal controls. This perspective led him to Bizval, where he now helps bring their valuation approach to the American market.

The discussion critiques the traditional valuation industry for being either overly mechanized or prohibitively expensive, often making business owners feel inadequate or confused. Graham and Kyle argue that valuations should be simple, transparent, and focused on what a buyer would actually pay—essentially, how much cash a business generates and how reliably it can continue to do so.

They highlight that most small businesses never sell, and even fewer achieve their true value at exit. Bizval flips the industry focus, aiming to serve the 85% of business owners who are typically overlooked, providing them with clear, actionable insights in plain language.

The episode also covers the importance of stress-testing businesses against market volatility, customer concentration, and owner dependency. Kyle, with a background in global macro risk, emphasizes the need for regular scenario planning and resilience, especially in unpredictable economic climates.

A key differentiator for Bizval is their commitment to independence and integrity—they provide valuations directly to business owners, not as a lead-in to expensive consulting, and vet their advisor partners rigorously. Every valuation, even at the free tier, is reviewed by a human, ensuring accuracy and clarity.

This episode also explores the broader implications for financial advisors, noting that accurate, independent valuations help advisors better serve their clients, manage risk, and plan for both current and future revenue opportunities. They touch on related issues like buy-sell and disability insurance, and the critical need for documented internal processes to reduce owner dependency and protect business value.

Learn more about Graham and Kyle via their website:

https://bizvalglobal.com/

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In this episode, Mike interviews Shelby Nicholl, a seasoned corporate veteran turned entrepreneur and certified exit planning advisor. They discuss Shelby's journey from working at major financial firms to starting her own consulting business, Muriel Consulting. The conversation delves into the evolution of networking skills, the contrasting cultures of Edward Jones and LPL Financial, and the importance of building a strong referral network. Shelby shares insights on being referable, the nuances of referral incentives, and how to navigate referral conversations effectively. The episode concludes with Shelby's thoughts on ideal referral sources and the significance of personal connections in business.

Takeaways

Shelby Nicholl transitioned from corporate to entrepreneurship.

Networking is a learned skill, not an innate talent.

Building relationships is key to successful networking.

Referrals stem from being referable and showing competence.

Incentives for referrals can feel transactional if not framed correctly.

Rewarding behavior over results fosters long-term relationships.

Personalized referral rewards create stronger connections.

Understanding firm cultures helps advisors make informed decisions.

The importance of asking the right questions in referral conversations.

Shelby emphasizes the value of genuine relationships in business.

Connect with Shelby: https://www.linkedin.com/in/shelbynicholl/

Email: [email protected]

Phone: (314) 578-2587

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In this episode of The Can I Borrow Your Car Podcast, Mike talks with Bob Goldsmith, founder of Northern Edge Advisors, to discuss the intricacies of investment banking, the importance of trust in financial transactions, and the role of financial advisors in guiding business owners through mergers and acquisitions. Bob shares insights on valuation, the need for proactive investment bankers, and the significance of building strong relationships with clients. The conversation emphasizes the importance of preparation and understanding unique business needs for successful sales.

- Bob Goldsmith emphasizes the importance of trust in investment banking.

- Investment bankers should be proactive in finding buyers for businesses.

- Valuation is often subjective and depends on buyer motivations.

- Financial advisors play a crucial role in guiding business owners through M&A processes.

- Understanding the unique needs of each business is essential for successful transactions.

- Bob's firm focuses on serving underserved markets in investment banking.

- The relationship between business owners and their advisors is critical for successful exits.

- Preparation for selling a business should start well in advance of the actual sale.

- Investment bankers should provide honest and realistic expectations to clients.

- Networking and building relationships are key to successful business transactions.

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Email Bob Goldsmith: [email protected]

Call Bob Goldsmith: (212) 520-8290

The Can I Borrow Your Car Podcast is dedicated to transforming how financial advisors and client-focused professionals approach referrals. Drawing on decades of expertise, best-selling books, and industry recognition, the podcast’s mission is to help listeners fill their sales funnel with more ideal clients than they require—by building a referral system rooted in generosity, respect, and genuine care for relationships.

Core Themes and Approach

• Giving, Not Begging: The podcast champions a referral system based on purposeful giving, not asking or begging. Listeners will learn how to become someone trusted enough to be “loaned” the most important relationships in a client’s life.
• Lowering Referral Risk: Each episode explores strategies for reducing both perceived and actual risk in the referral process, making it easier and more comfortable for clients and centers of influence to refer their valued contacts.
• Farming, Not Hunting: Adopting a “farmer” mindset, the podcast emphasizes nurturing a diverse network, engaging key contacts early, and cultivating long-term relationships that naturally yield referrals over time.
• Systematic Growth: Listeners are guided to set clear client acquisition targets, double their meeting goals based on closing rates, and create a waiting list of interested clients—ensuring a full pipeline and sustainable business growth.
• Respect and Enterprise Value: The podcast highlights the importance of treating people with respect and care, which not only increases referrals but also enhances the enterprise value of an advisory practice.
• Enjoyable Referral Process: Episodes focus on making the referral process enjoyable for all parties, so that giving and receiving referrals becomes a source of pride and satisfaction, not stress.

Who Should Listen

• Financial advisors seeking to grow their practice and enterprise value through referrals
• Professionals in client acquisition roles who want to make referrals their primary growth engine
• Anyone who values building their business by loving people and giving on purpose within a proven system

Host Credentials

• Best-selling author of multiple books on referrals, including Can I Borrow Your Car?
• 2024 Exit Planning Institute Member of the Year and online faculty member
• Recognized expert in helping financial advisors grow their practices’ enterprise value through referrals and exit planning

Podcast Promise

Listeners will discover how to become the “obvious choice” in their market by building a referral-driven business that everyone loves participating in—clients, centers of influence, and advisors alike. The Can I Borrow Your Car Podcast is your guide to growing your business by loving people, giving first, and earning the right to be introduced to your ideal clients.

In this episode, Mike discusses exit planning and its significance for financial advisors. He emphasizes the importance of collaboration in the exit planning process, highlighting how financial advisors can play a crucial role in helping business owners prepare for their exit. The conversation covers the core phases of exit planning, the roles of various professionals involved, and the need for financial advisors to build confidence in discussing business strategies with their clients. Mike encourages financial advisors to take ownership of the exit planning process and to foster strong relationships with business owners to ensure successful outcomes.

Takeaways

• This podcast episode is the beginning of a longer series.
• Referrals by nature are about collaboration.
• You own the process of exit planning.
• You're the only person whose maximum compensation occurs after the exit.
• You should be getting revenue along the way during the exit process.
• Every financial advisor is involved in an exit planning process.
• Identifying and onboarding team members is crucial for success.
• Financial advisors need to be confident in business discussions.
• You are the most accountable professional in the exit planning process.
• Collaboration and being human are key to success.

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In this episode, Mike and John discuss the critical role of referrals in marketing and business growth. They explore how referrals can significantly impact a marketing agency's success, the importance of understanding client needs, and the balance between education and execution in marketing strategies. The conversation emphasizes the necessity of building relationships over immediate sales and the long-term value of referrals in a competitive market. Mike and John also discuss the critical role of professional marketing consultants in driving referrals and enhancing business strategies. They explore the importance of content creation, the power of giving in business relationships, and the necessity of effective communication with clients. The discussion emphasizes actionable steps for engaging clients and fostering referral conversations, highlighting that successful marketing requires consistent effort and execution.

Takeaways

• Referrals account for 85% of John's business.
• Marketing is about being seen, heard, and discovered.
• Competence alone is not enough to stand out.
• Many businesses lack a system for generating referrals.
• Building relationships is crucial for successful marketing
• Clients often expect instant results from marketing efforts.
• Education and execution are both important in marketing.
• Referrals have less immediate reach than other marketing methods.
• The value of referrals increases over time.
• Understanding client needs is essential for effective marketing. 
• There is a significant role for professional marketing consultants in any business.
• Sales enablement is about accelerating beneficial sales processes.
• Effective marketing requires consistent activity and measurement.

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