The Business Coach

Join host David Finkel in this episode of The Business Coach Podcast as he dives into a fascinating conversation with one of the nation's leading asset protection and estate planning attorneys, Alan Gasman. With over 35 years of experience, Alan provides expert insights on how business owners can protect their assets from various exposures and liabilities. Discover strategic frameworks for safeguarding your business's golden goose, handling employee-related issues, and mitigating risks from possible lawsuits. Learn actionable steps to develop strong legal foundations and prevent potential legal pitfalls. Don't miss this episode filled with invaluable advice on building a resilient and profitable business.

00:00 Introduction and Welcome
01:04 Meet Alan Gasman: Asset Protection Expert
01:58 Understanding Business Liabilities
02:31 Protecting the Golden Goose
03:25 Legal Strategies for Risk Management
04:04 Real-World Examples of Legal Risks
04:50 Practical Steps for Asset Protection
06:23 Case Study: Protecting Business Assets
21:49 Insurance and Liability Coverage
24:10 Understanding Employee Risks
25:23 Implementing Employee Practices
28:02 Addressing Problematic Employees
32:22 Common Legal Misconceptions
34:48 Dealing with Dishonesty and Legal Risks
38:21 The Importance of Due Diligence
41:56 Final Advice for Business Owners
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Links
Website: mauimastermind.com/
Facebook: facebook.com/MauiMastermind/
Instagram: instagram.com/mauimastermind/
LinkedIn: linkedin.com/company/maui-mastermind

Join David Finkel and Maui business coach Jen Frigault in this episode of The Business Coach Podcast as they explore how to inspire, engage, and align your team effectively. They discuss the significance of treating team members as paid volunteers, the importance of transparency and communication, and delve into ways to recognize signs of disengagement. Learn actionable tips on fostering employee development, financial information sharing, and hosting interactive activities to boost morale. Whether you are a seasoned business owner or in the growing phase, this episode equips you with strategies for building a motivated and cohesive team.
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00:00 Introduction: Treating Employees as Volunteers
00:30 Welcome to The Business Coach Podcast
01:06 Meet Jen Alt: Business Coaching Expertise
01:24 Understanding Team Disengagement
02:03 Engaging and Aligning Your Team
02:15 Warning Signs of a Disengaged Team
02:23 The Importance of Transparency and Communication
02:35 Real-Life Examples and Client Success Stories
02:55 Personal Insights and Practical Advice
04:37 Identifying and Addressing Retention Issues
06:02 The Role of Emotional Intelligence in Leadership
07:03 Building Strong Relationships with Key Team Members
08:59 Treating Employees as Paid Volunteers
10:12 Increasing Transparency and Communication
11:52 Employee Development and Growth Plans
12:17 The Power of Sharing Information
15:54 Financial Transparency: Risks and Rewards
23:15 Effective Financial Communication Strategies
23:54 Sharing Metrics and Goals with Clients
26:54 Inspiring Through Authenticity and Transparency
28:24 Building Relationships Through Team Involvement
29:37 Creative Ways to Boost Team Morale
31:23 The Pitfalls of Monetary Incentives
34:58 Aligning Teams for Better Collaboration
42:33 Final Thoughts and Practical Tips
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Links
Website: mauimastermind.com/
Facebook: facebook.com/MauiMastermind/
Instagram: instagram.com/mauimastermind/
LinkedIn: linkedin.com/company/maui-mastermind

In this insightful episode of The Business Coach Podcast, host David Finkle is joined by entrepreneur Mark Watson to explore the intricacies of building a level 3, owner-independent business. Mark shares his journey from real estate investments to managing multiple successful enterprises, emphasizing the challenges and strategies for achieving owner independence. They discuss critical topics like the psychological motivations behind business drives, maintaining a work-life balance, and the importance of grounding business endeavors in core personal values. Whether you’re aiming to scale your company or align your entrepreneurial activities with what truly matters, this conversation offers valuable lessons and actionable insights.

00:00 Introduction: The Need for Business
00:25 Welcome to The Business Coach Podcast
00:55 Meet Mark Watson: Serial Entrepreneur
02:12 Journey to Level Three Business Ownership
03:44 The Importance of Taking Time Off
06:27 Challenges and Misconceptions of Level Three Businesses
10:54 Lessons Learned in Business Leadership
14:07 The Value of Direct Communication
20:23 Managing High-Functioning Teams
23:41 Mentorship and Business Insights
24:21 Financial Independence and Business Pressure
27:19 Personal Drives and Motivations
29:27 Balancing Faith, Family, and Business
35:34 Daily Disciplines and Practices
39:38 Final Thoughts and Reflections
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Links
Website: mauimastermind.com/
Facebook: facebook.com/MauiMastermind/
Instagram: instagram.com/mauimastermind/
LinkedIn: linkedin.com/company/maui-mastermind

In this week's episode of The Business Coach Podcast, host David Finkel discusses the crucial topic of succession planning with esteemed attorney and personal friend, Alan Gassman. With over 35 years of experience in estate planning and asset protection, Alan shares practical insights that every business owner needs to consider. They cover real-life scenarios where businesses faltered due to lack of preparation, the importance of having non-compete and non-solicitation agreements, and three simple but powerful steps to ensure your business can survive in the event of incapacity or death. Don’t miss Alan's final thoughts on the emotional and practical imperatives of succession planning.

00:00 Setting the Stage: The Importance of Succession Planning
00:34 Introduction to the Business Coach Podcast
01:04 Meet Alan Gasman: Expert in Estate Planning
01:35 The Critical Need for Succession Planning
05:26 Real-Life Examples of Succession Planning Failures
09:51 Steps to Effective Succession Planning
20:38 The Role of Non-Compete and Non-Solicitation Agreements
30:45 Final Thoughts and Actionable Steps
36:49 Conclusion and Takeaways
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Links
Website: mauimastermind.com/
Facebook: facebook.com/MauiMastermind/
Instagram: instagram.com/mauimastermind/
LinkedIn: linkedin.com/company/maui-mastermind

In this episode of the Business Coach Podcast, hosted by David Finkel, CEO of Maui Mastermind, we delve into the common issue business owners face known as the 'fix and fade dilemma.' David explains how many business owners, after identifying and solving a problem or seizing an opportunity, often neglect to operationalize and culturalize their solutions, leading to recurring issues and stagnation. Learn about the importance of systematizing and embedding solutions into your company culture to break through growth ceilings and achieve sustainable success. David also shares real-life examples and actionable insights to help you and your leadership team implement these practices effectively.
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00:00 Introduction to the Business Coach Podcast
00:57 The Fix and Fade Dilemma
04:16 Operationalizing Solutions
05:04 Culturizing the Fix
06:03 The Importance of Leadership and Management
13:08 Case Study: Improving Client Retention
16:59 Conclusion and Final Thoughts

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Links
Website: mauimastermind.com/
Facebook: facebook.com/MauiMastermind/
Instagram: instagram.com/mauimastermind/
LinkedIn: linkedin.com/company/maui-mastermind

In this episode of the Business Coach podcast, host David Finkel focuses on how to protect your gross profit margin through an insightful coaching session. Addressing the real-life challenges of a coaching client, David examines pricing strategies, the importance of understanding gross profit margins, and key tactics to avoid scope creep. Learn actionable steps to raise prices on low-performing clients and how to effectively sell based on value rather than hours. This episode is essential for anyone looking to build a more profitable and sustainable business.

00:00 Introduction: Understanding Client Pricing
00:38 Welcome to the Business Coach Podcast
01:13 Client Case Study: Gross Profit Margin Challenge
02:14 Strategies to Improve Gross Profit Margin
04:19 Raising Prices for Long-Term Clients
08:14 Switching to Value-Based Pricing
11:28 Avoiding Scope Creep in Fixed-Price Projects
16:06 Conclusion: Protecting Your Business
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Links
Website: mauimastermind.com/
Facebook: facebook.com/MauiMastermind/
Instagram: instagram.com/mauimastermind/
LinkedIn: linkedin.com/company/maui-mastermind

In this episode of the Business Coach Podcast, host David Finkel addresses critical hiring strategies for rapidly expanding companies. Drawing on decades of experience, David shares actionable insights from a coaching session with a successful client, emphasizing the importance of sequencing hires and focusing on must-have skills and past performance. Learn how to elevate your hiring success rate by identifying key roles, creating effective job descriptions, and improving your interview techniques. This episode is a must-listen for business owners looking to build a stronger, more independent organization.
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00:00 Introduction to the Business Coach Podcast
00:54 The Importance of Effective Hiring
01:59 Prioritizing and Sequencing Hires
04:38 Crafting Accurate Role Descriptions
07:15 Interviewing for Success
08:38 Real-Life Interview Techniques
13:07 Client Success Stories and Feedback
15:22 Reflecting on Your Hiring Success Rate
17:00 Conclusion and Final Thoughts
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Links
Website: mauimastermind.com/
Facebook: facebook.com/MauiMastermind/
Instagram: instagram.com/mauimastermind/
LinkedIn: linkedin.com/company/maui-mastermind

In this insightful episode of The Business Coach podcast, host David Finkel is joined by seasoned business coach Jennifer Frigault. Jen brings over 20 years of experience working with diverse companies, from large enterprises to small micro businesses. Together, they address the common challenges business owners face, such as the lack of systems and over-reliance on ad hoc processes, which often result in inefficiencies and frustration. Jen shares a practical three-step process for implementing effective systems, introducing the right tools, and delegating responsibilities. They also explore the importance of creating a work-life balance while scaling your business. Tune in to discover actionable insights on how to grow a more profitable, independent business without sacrificing your time, life, or freedom.

00:00 Introduction to Business Growth Myths
01:01 Meet Jennifer Frigault: Business Coaching Insights
03:55 The Cost of Lacking Systems in Business
09:29 Steps to Implement Effective Systems
14:53 Case Study: Transforming Carl's Business
20:44 Reclaiming Time for Business Growth
22:48 Overcoming the 'I Have to Do Everything' Mindset
25:29 Delegation and Decision Authority
28:21 Implementing Internal Controls
36:43 The Importance of Accountability
40:15 Final Thoughts on Scaling Your Business
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Links
Website: mauimastermind.com/
Facebook: facebook.com/MauiMastermind/
Instagram: instagram.com/mauimastermind/
LinkedIn: linkedin.com/company/maui-mastermind

Join David Finkel on this episode of the Business Coach Podcast as he sits down with Mark Watson, a successful entrepreneur who transitioned from a large real estate investment trust to building his own real estate empire and multiple operating businesses. Mark discusses his journey, sharing key lessons on scaling businesses, strategic planning, team engagement, and the ultimate business systems that have helped him work less and achieve more. Learn about the practical strategies he implemented to make his businesses more independent and the value of having a supportive entrepreneurial community. Whether you're in the startup phase or looking to make your business less owner-reliant, this episode offers actionable insights to help you build a stronger and more profitable business. Tune in to hear Mark's inspiring story and gain valuable tips for your own entrepreneurial journey.

00:00 Introduction and Host's Opening Remarks
00:56 Guest Introduction: Mark Watson's Journey
03:47 Early Influences and Entrepreneurial Beginnings
05:14 Transition to Real Estate and Early Career
12:31 Building Multiple Businesses
16:22 Discovering Maui Mastermind
22:11 Introduction to Simplistic Processes
22:37 The Importance of Standard Operating Procedures
23:11 Engaging Your Team in Quarterly Planning
24:05 Finding and Sticking to a Solid Framework
25:01 The Role of Owners in Business Stability
25:25 The Power of Consistency in Business Growth
26:16 Task Management and Project Management Tools
27:30 Balancing Work and Personal Life
28:30 Ultimate Business System (UBS) Explained
29:45 Using Technology for Efficiency
35:43 Lessons Learned in Business Growth
40:38 The Value of Coaching and Community
42:40 Final Thoughts and Advice for Entrepreneurs
46:13 Conclusion and Appreciation
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Links
Website: mauimastermind.com/
Facebook: facebook.com/MauiMastermind/
Instagram: instagram.com/mauimastermind/
LinkedIn: linkedin.com/company/maui-mastermind

Join David Finkel and his guest, Rich Wood, in this second part of a series on selling your company. They dive deep into key deal point considerations, the role of NDAs, tactical advice on earn-outs, managing non-compete clauses, and protecting yourself from common games played by professional buyers like private equity groups. Packed with actionable insights for a more profitable sale while securing your interests, don't miss this episode of The Business Coach podcast.

00:00 Introduction to Selling Your Company
00:51 Meet the Hosts: David Finkel and Rich Wood
01:08 Recap of Part One: Strategic Considerations
02:55 Understanding Non-Binding Offers
04:01 Protecting Your Business: NDAs and Non-Solicitation
08:38 Navigating Contractual Games and Working Capital
10:44 The Importance of Financial Reviews and Audits
13:23 Pushdown Accounting and Earn-Out Clauses
20:37 Non-Compete Agreements: What You Need to Know
23:32 Final Thoughts and Key Takeaways
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Links
Website: mauimastermind.com/
Facebook: facebook.com/MauiMastermind/
Instagram: instagram.com/mauimastermind/
LinkedIn: linkedin.com/company/maui-mastermind