Inside BS Show

 “Choosing the right structure is about where you want to go, not just where you are today.” - Harry Cendrowski

1. S-Corp: Overhyped and Often Misunderstood

• Many business owners default to an S-Corp to save on FICA (payroll) taxes.
• This choice can be short-sighted, especially if the owner has not considered long-term growth, financing, or investment plans.
• Major downside: No tax basis for debt at the shareholder level, limiting deductions if the business borrows money.

2. LLC Taxed as a Partnership: More Flexibility

• Preferred by private equity investors and professional investors because:
  • They can’t invest in S-Corps (due to shareholder restrictions).
  • LLCs allow multiple financing rounds (Series A, B, C, D) and different classes of ownership, unlike S-Corps which can only have one class of stock.
• Offers options like carried interest and profit interests, which are not available in S-Corps.
• Easier to plan for growth, investor entry, and partial ownership sales.

3. C-Corp: Strategic for Certain Growth Plans

• Often used when:
  • A company may qualify for Qualified Small Business Stock (QSBS) exemptions.
  • The business has high working capital needs and benefits from the 21% corporate tax rate (better for reinvesting profits).
• Sometimes elected by LLCs for C-Corp tax treatment when appropriate.

When Should You Change Entity Types?

• Plan based on your 2 to 5-year horizon:
  • Are you raising capital?
  • Do you plan to sell?
  • Are you acquiring other businesses?
• If you're already an S-Corp but want flexibility, set up a new LLC and transfer the assets via an F-reorganization.
• Act before the event happens, not when you're in the middle of a transaction.

Additional Critical Points

• Reasonable Salary Requirement for S-Corps:
  • S-Corp owners must pay themselves a reasonable salary before taking distributions to avoid IRS penalties.
  • Undervaluing your salary can lead to tax issues and lower your business valuation at exit (buyers will normalize your compensation in their calculations).
• State Tax Risks (SALT - State and Local Taxes):
  • Many business owners underestimate exposure to state taxes.
  • States are aggressive about taxing services and products sold into their jurisdiction, even remotely.

The Big Picture: Don’t Let Your Structure Limit Your Growth

• The wrong entity choice can:
  • Block investors.
  • Restrict financing flexibility.
  • Increase tax exposure.
  • Lower your business valuation.
• Choosing the right structure is about where you want to go, not just where you are today.

If you'd like, I can help turn this into a LinkedIn post, email summary, or presentation. Would you like me to do that? If so, which format?

"We don’t find time—we make time. Productivity begins when you align your actions with your values."

What You’ll Discover Today:

Are time management and productivity the same thing? Or are they two separate disciplines that overlap? In this episode of The Inside BS Show, Dave Lorenzo interviews executive coach and leadership expert Paul Casey, who breaks down the real secret behind time management success—and it’s not what you think.

Paul shares why managing your time starts with managing your values, and how to align your daily activities with what truly matters most to you. This conversation offers a fresh approach to productivity that goes beyond checklists and to-do lists.

Key Topics Discussed:

• Time Management vs. Productivity: Why these concepts are not interchangeable—and how one leads to the other.
• The Power of Knowing Your Core Values: How identifying your values helps you feel productive and fulfilled.
• Vision-Driven Time Management: The importance of defining what success looks like for you one year from now.
• Make Time, Don’t Find It: Why “finding time” is a myth and how intentional goal-setting creates real progress.
• The Daily Preview Technique: How planning your top three priorities the night before supercharges your focus and creativity.
• Brainstorm While You Sleep: How your subconscious mind works on tomorrow’s tasks while you rest.
• Mindset Matters: Why your "why" must be bigger than your excuses if you want time management strategies to stick.

Links and Resources:

• Subscribe Via Email: GetInsideBS.com
• Call Us: (305) 692-5531

Call to Action:

Do you feel like you’re working hard but not making progress on what matters most? It’s time to stop “finding time” and start making time. Tune into this episode and discover how to align your actions with your values—and unlock true productivity.

"You are your number one programmer. And your self-talk is the most powerful tool you have to rewire your brain for success." – Dr. Shad Helmstetter

What You’ll Discover Today:

• Why success is not determined by age, but by the messages we repeat to ourselves.
• How neuroplasticity empowers us to reprogram our minds at any stage of life.
• The real difference between people who succeed and people who struggle.
• A step-by-step process for using self-talk to transform your mindset and results.

Key Topics Discussed:

1. The Science of Neuroplasticity
   • Your brain has the ability to rewire itself throughout your life.
   • Change is possible at any age through consistent repetition of positive messages.
2. Programming from the Outside In
   • From infancy, we are programmed by the words and environments around us.
   • Messages from family, media, and life experiences shape our internal beliefs.
3. The Power of Self-Talk
   • Self-talk is more than words—it’s the internal programming that drives our behaviors.
   • Approximately 77% of the early messages we receive are negative or counterproductive.
4. Breaking the Success Thermostat
   • Many people unconsciously set limits on their success (their “thermostat”).
   • Raising your success level begins with shifting these internal limits through intentional self-talk.
5. The Five-Step Process to Reprogram Your Mind:
   • Awareness: Recognize that you have the power to change your programming.
   • Monitor: Spend 30 days listening carefully to your spoken and internal self-talk.
   • Edit: Replace negative statements with positive, empowering alternatives.
   • Listen: Use recorded self-talk sessions to reinforce new, positive programming.
   • Practice: Consistently reinforce new patterns until they become your default thinking.
6. The Role of Repetition and Pruning
   • Neural pathways strengthen with repetition, while unused negative pathways get pruned away.
   • Over time, your mind defaults to the new, positive programming.
7. Learning the Language of Success
   • Thinking in the language of success changes who you are, not just what you do.
   • Success becomes a way of being, not an isolated achievement.

Links and Resources:

• Subscribe Via Email: GetInsideBS.com
• Listen on Spotify: Inside BS Show on Spotify
• Listen on Apple Podcasts: Inside BS Show on Apple Podcasts
• Call Us: (305) 692-5531

Call to Action:
Want to level up your success thermostat? Start by changing the way you talk to yourself. Monitor your self-talk for the next 30 days. What are you telling yourself—and is it setting you up to succeed?

If you'd like help reprogramming your mind for success and building the life you deserve, reach out to us today.

"People don’t care about your process—they care about the outcome. Show them the baby, not the labor pains."

What You’ll Discover Today:

In this episode, we dive into the fundamentals of crafting copy that converts with expert copywriter Holly Fisher. Whether you're writing for your website, emails, or social media, the right words can be the difference between silence and sales. Holly shares how to focus your messaging on what truly matters to your audience—the solution and the success they desire.

Key Topics Discussed:

• The Silent Killer of Sales: Why vague calls to action like “Learn More” or “Contact Us” aren’t enough—and what to do instead.
• Clarity Over Complexity: How to use a simple three-step process to make taking action feel easy and manageable for your audience.
• Sell the Outcome, Not the Process: Why getting into the weeds of “how” you deliver results can hurt conversions—and how to keep the focus on benefits.
• Balancing Truth and Motivation: When (and how) to tell clients there’s work involved without scaring them away.
• Building Credibility: The role of testimonials, case studies, statistics, and client success stories in making your offer believable.
• Creating Emotional Commitment: How to help prospects believe not just in you, but also in themselves—that they can achieve the success you’re promising.
• Finding the Right Voice: How to match your copy’s tone with your brand while speaking the language of your ideal client.
• Trial and Error in Copywriting: Why copywriting is both art and science, and the importance of testing and refining your message.
• Real-World Example: How Holly helped a software company triple their demo bookings by shifting their message from features to customer success.

Links and Resources:

• Subscribe via Email: GetInsideBS.com
• Listen on Spotify: Inside BS Show on Spotify
• Listen on Apple Podcasts: Inside BS Show on Apple Podcasts
• Call Us: (305) 692-5531

Call to Action:

Are you still telling your audience how you work instead of why it works for them? Focus your message on the success your clients will experience. Want help getting your copy to do the heavy lifting? Reach out and let’s talk about how to make your message convert.

“The business you earn through strong relationships closes faster, commands higher margins, and sticks with you longer.”

What You’ll Discover Today

In this episode, Dave Lorenzo and Patrick Murphy discuss why relationship-based selling is not only more effective but also easier and more enjoyable than transactional sales. Patrick shares his personal experience as an account executive and manager at Heartland, explaining how strategic partnerships with trusted advisors like bankers and accountants lead to faster sales, stronger client retention, and higher deal margins.

Key Topics Discussed

• Why Relationship Sales is Easier Than Transactional Sales
  • Referrals open doors without the grind of cold calling.
  • Trusted introductions lead to quicker closes and less price negotiation.
  • Retention rates are significantly higher with referred clients.
• The Power of Trusted Recommendations
  • Business owners are more likely to follow the advice of their financial partners.
  • The credibility of a banker or accountant removes friction from the sales process.
• Sustainable Growth Through Partnership Networks
  • Building relationships with key referral partners like web developers, insurance brokers, and bankers pays long-term dividends.
  • Networking groups can consistently generate high-quality referrals when structured well.
• Reducing Wear and Tear on Sales Reps
  • Relationship selling focuses on fewer, higher-impact meetings rather than high-volume cold calls.
  • Maintaining a smaller, high-value portfolio of partners is more manageable and effective.
• Why Some Salespeople Resist Relationship-Based Selling
  • Impatience and the lure of immediate gratification through cold calling.
  • Relationship development takes time but produces longer-term, more stable results.
• The Durability of Relationships Over Time
  • Referrals and client relationships built years ago continue to generate business today.
  • The long-term value of investing in trust and rapport cannot be overstated.

Links and Resources

• Subscribe Via Email: GetInsideBS.com
• Listen on Spotify: Inside BS Show on Spotify
• Listen on Apple Podcasts: Inside BS Show on Apple Podcasts
• Call Us: (305) 692-5531

Call to Action

If you're still grinding it out cold calling and door knocking, consider shifting your approach. Build relationships today that your future self will thank you for tomorrow. Start connecting with professionals who share your ideal clients—and watch how your sales cycle shortens, your margins increase, and your client retention improves.

“Make the content the star — the relationships will follow.” -Dave Lorenzo

What You’ll Discover Today:

In this episode, Tim Fitzpatrick shares the secret to turning your networking and content strategy into a powerful engine for business growth. You’ll learn why the best networking isn’t about lunch meetings or rubber chicken dinners — it’s about sharing valuable conversations at scale. Whether you’re a CPA, attorney, consultant, or coach, this approach can help you deepen relationships and attract the right clients — without feeling like you’re selling.

Key Topics Discussed:

• The Foundation of Effective Content Creation:
  Why your content needs to align with the medium you enjoy most — whether that’s writing, video, or audio.
• The Easiest Way to Find Content Ideas:
  How to mine your inbox, client questions, and online communities for the topics your audience actually cares about.
• Leveraging Networking Time for Maximum ROI:
  Why focusing on referral partners and strategic alliances beats random networking events — and how to identify the best partners.
• The Power of Content-Based Networking:
  How podcast interviews and video conversations can replace traditional networking while deepening your connections.
• Podcasting as a Prospecting Tool (Without the Hard Sell):
  Why inviting prospective clients onto your show is one of the smartest ways to start a relationship — and how to follow up without pitching.
• Repurposing Made Simple:
  How to get more mileage from your content — even if you don’t have a big team. Tips on turning one video into blog posts, quote cards, shorts, and social media clips.
• Learning and Business Growth Through Interviewing:
  Why guest interviews aren’t just great content — they’re also a source of new ideas, insights, and long-term business opportunities.

Links and Resources:

• Rialto Marketing Website: https://www.rialtomarketing.com
• Subscribe Via Email: GetInsideBS.com
• Listen on Spotify: Inside BS Show on Spotify
• Listen on Apple Podcasts: Inside BS Show on Apple Podcasts
• Call Us: (305) 692-5531

Call to Action:

Stop wasting time on random networking that drains your energy and your calendar. Start making your conversations count. Whether it’s a podcast, video series, or written Q&A, put your content to work for you — and watch the relationships (and business) follow.

On this episode of the Inside BS Show, Dave Lorenzo welcomes Harry Cendrowski of Cendrowski Corporate Advisors for a candid conversation about the unique dynamics of family-owned businesses. Whether you’re advising one or running one, you’ll walk away with actionable insights on succession planning, governance, tax strategies, and how to protect both the business and the family legacy.

Key Topics Discussed:

• What defines a family business and why the dynamics are so different
• The pros and cons of keeping the business “in the family”
• Why generational transitions often fail—and how to prevent it
• The psychological barriers to succession planning (and how to overcome them)
• How to deal with internal conflicts and favoritism among family members
• When and how to bring in outside leadership
• The secret to preparing the next generation for success
• How family dynamics affect business valuation and sale readiness
• Structuring a deal when not everyone in the family agrees
• Common tax and estate planning mistakes—and how to avoid them
• How Cendrowski Corporate Advisors helps family businesses plan for long-term success

Links and Resources:
 Subscribe Via Email: http://GetInsideBS.com
Listen on Spotify: https://open.spotify.com/show/4TBA
Listen on Apple Podcasts: https://podcasts.apple.com/us/podcast/the-inside-bs-show-with-dave-lorenzo/id1538611447
Call Us: (305) 692-5531

Call to Action:
 If you’re working in or advising a family-owned business, now is the time to prepare for the future. Get in touch with Harry Cendrowski and his team at Cendrowski Corporate Advisors at 866-717-1607 to discuss tax strategies, succession planning, or business valuation. They’ve helped hundreds of businesses across North America—yours could be next.

“Don’t do anything you can’t measure. Everything must be measurable.” - Dave Lorenzo

What You’ll Discover Today:

• The 6 essential stages of consultative selling
• A free gift that simplifies and personalizes your sales strategy
• The one big mistake to avoid in your sales process

Key Topics Discussed:

1. Have a System
   Use the Revenue Roadmap as your framework for consultative selling.
2. Identify Your Ideal Client
   Learn who they are, where they go, and why they choose to work with you.
3. Find Clients in Groups
   Discover how to locate prospects through associations, media, and community.
4. Target Those Groups
   Use direct outreach, speaking engagements, and social media to reach them repeatedly.
5. Nurture and Follow Up
   Build trust with consistent value: weekly emails and monthly printed letters.
6. Create a Gateway Offering
   Offer a low-risk entry point to let clients sample your brilliance.
7. BONUS: The One Thing Never to Do
   Never run any marketing or sales tactic that isn’t trackable or measurable.

Links and Resources:

• Free Gift from Dave: GetInsideBS.com
  Download the Revenue Roadmap – your complete guide to consultative selling
• Subscribe Via Email: GetInsideBS.com
• Listen on Spotify: Inside BS Show on Spotify
• Listen on Apple Podcasts: Inside BS Show on Apple Podcasts
• Call Us: (305) 692-5531

Call to Action:

✅ Download the Revenue Roadmap and follow along.
✅ Customize it for your business by answering the questions inside.
✅ And never forget: Measure everything.

 “Why Is Accountability Important for Successful Leadership?” 

Accountability is the foundation for all personal and professional success.
Don Markland argues that accountability is not just about being called out when things go wrong — it’s about owning all your decisions, both good and bad, and using that ownership to drive growth.

Framework Introduced: The Four C’s of Accountability

This is the core framework of the talk, built on two preliminary rules.

Two Ground Rules:

1. Accountability always starts with me.
   You can’t hold others accountable unless you first hold yourself accountable.
2. There is no ego in accountability.
   Anyone can hold you accountable. Don compares this to baseball — a strike is a strike, no matter who calls it.

The Four C’s:

1. Critique Success
   • Don’t get complacent.
   • Always ask: “How can I improve?”
   • Prevents stagnation and builds a mindset of continuous growth.
2. Correct Failure
   • Failure is a signal, not a verdict.
   • Diagnose poor decisions and fix the process.
   • Encourages healthy risk-taking and experimentation.
3. Celebrate Growth
   • Growth, not success, is the real achievement.
   • Hard choices and resilience deserve celebration.
   • Avoid rewarding mere competence, which breeds entitlement.
4. Crush Mediocrity
   • Treat mediocrity like a Florida cockroach — destroy it.
   • Don’t tolerate small compromises; they multiply.
   • This is about decisiveness, discipline, and standards.

Application in Real Life:

Personal Transformation:

• Don describes his own transformation: overweight, workaholic, and disconnected from family → successful, healthier, more present.
• Triggered by a moment of personal frustration and realizing he lacked clarity and accountability.

Business and Leadership:

• His leadership improved.
• His team became more productive.
• His business grew when he embraced accountability.

The Role of an Accountability Partner:

• Definition: A person who pushes you to stay on track when emotions and frustration cloud judgment.
• Traits:
  • Should not be your clone.
  • Must challenge you, make you uncomfortable.
  • Helps you move from complaint to solution.
• Don’s example: his wife during a low point and now his coach, Greg (a gruff ex-military man, his opposite in every way).

Notable Quotes:

• “Accountability is the glue that ties commitment to results.”
• “If you can’t do what you say you’re going to do, then why in the heck are you trying anything else?”
• “Only call me when you’re going to talk about the solution — otherwise, you are the problem.”

Key Takeaways for Leaders:

• Accountability is always positive. It's not punishment; it’s empowerment.
• Growth comes from discomfort. Seek accountability from those who will push you outside your comfort zone.
• Create deliberate systems. Use the Four C’s to guide your leadership, hiring, coaching, and performance management.

“Stop focusing on single transactions. Start focusing on the relationship.” - Dave Lorenzo

In this episode of The Inside BS Show, Dave Lorenzo shares a powerful mindset shift that transformed his business: Stop chasing short-term wins. Start building long-term client value.

Dave shares a real story about how a single engagement turned into a million-dollar relationship—all because he focused on Client Lifetime Value (CLV) instead of transactional revenue.

This episode is a step-by-step guide for professionals who want to grow deep, lasting client relationships that lead to repeat business, strong referrals, and consistent income.

What You’ll Learn Today:
– Why transactional thinking holds you back
– How to spot long-term value in your client base
– A real-world example of turning a “no” into a million-dollar client
– How to build client loyalty through constant value
– The 5 steps to shift your thinking and boost your revenue

Key Topics Discussed:

1. What Client Lifetime Value really means in B2B
2. The story of the Business Development Academy challenge
3. How Dave’s method outperformed “off-the-shelf” solutions
4. Examples for Financial Advisors, HR Consultants, and Estate Planning Attorneys
5. What you can do today to shift from transactions to relationships

Call to Action:
 
Make a list of your five best clients.
Ask yourself: “How can I help them grow next?”
Then pick up the phone. That’s how value starts.

Links and Resources:
🔗 Subscribe via email: GetInsideBS.com
🎧 Listen on Spotify: Inside BS Show
🎧 Listen on Apple Podcasts: Inside BS Show
📞 Call us: (305) 692-5531

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