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Your business might be doing well, but is it valuable? The majority of modern entrepreneurs often prefer to sell their businesses before retiring and provide themselves and their children a pool of capital to settle with. Stephen Cummings talks about some of the common pitfalls business owners face while trying to get a good valuation and sell their companies, as well as how to navigate exiting a business with a great deal.
Stephen is CEO and General Managing Partner of Rizolve Partners, a strategic business consulting practice advising clients on value-creating strategies and establishing profitable and sustainable growth. He helps build value to private companies to ensure easier transferability and planning for and execution of strategic transactions and liquidity events to realize value.
Stephen’s career has foundations as a financial expert focussed within the investment industry. He has held leadership positions with top quartile performing private equity and venture capital firms investing institutional capital across the globe. Prior to that, he was the CFO at a global publisher. He trained and qualified as a Chartered Accountant with Deloitte in London, UK. Stephen is a member of the Board of Directors of Ontario Genomics and is Chairman of the audit committee.
IN THIS EPISODE, YOU WILL LEARN:
0:00 Introduction
1:53 Common pitfalls when trying to sell your business
12:19 What happens when you have to exit a business but cannot sell
15:42 The path to preparing for valuing and selling your business
21:38 Learning how to maximize the value of your company early on
32:21 Understanding the market trends while selling your business
41:14 Who Stephen wants to be a hero to
EPISODE LINKS:
Follow Stephen Cummings:
Website: https://rizolve.ca
LinkedIn: https://www.linkedin.com/in/stephenlcummings/
Event Registration – Scoring Big With Your Business Question: https://www.eventbrite.ca/e/the-goal-scoring-big-with-your-business-transition-tickets-153464828433
️ WEALTH WITHOUT BAY STREET LINKS:
Learn how Canadian are Implementing Infinite Banking for Free Here: https://wealthonmainstreet.com/masterclass
Podcast Website: https://wealthonmainstreet.com/
Follow us on Facebook: https://wealthonmainstreet.com/fb
Subscribe to our Youtube Channel: https://wealthonmainstreet.com/yt
Book a 15-minute call: https://wealthonmainstreet.com/15mincall
Watch our Tribute To The Man Who Created Infinite Banking R. Nelson Nash here:
https://wealthonmainstreet.com/dayofnelson
Join Our Community! https://wealthonmainstreet.com/community
IBC RECOMMENDED BOOKS
https://wealthonmainstreet.com/books
️ WATCH THE DOCUMENTARY
Documentary Film This is Nelson Nash: https://www.ascendantfinancial.ca/nelson-nash-film/
Financial Advisor? Learn about the Infinite Banking Concept here: Nelson Nash Institute Practitioner Program: https://infinitebanking.org/practitioners-program/ref/6/
EVA – Economic Value Add The Real Key To Creating Wealth Article: https://infinitebanking.org/the-real-key-to-creating-wealth/ref/6/
Why do you do what you do? What is your vision and mission? David Schmeikal is a master storyteller and brand strategist that helps businesses and entrepreneurs find their purpose, communicate their story and develop culture within their organization. Based out of Alberta, Canada, David has worked with businesses to facilitate and coach them through a journey of transformation and creating meaningful work. He is the host of The Gyst Life podcast. In today’s episode, David talks about the process that he takes his clients through in building long-term vision, creating a personal brand and, developing a high-impact organizational culture.
IN THIS EPISODE, YOU WILL LEARN:
0:00 Introduction
3:12 The framework and value of David’s work
30:13 David’s advice to business owners and entrepreneurs
24:31 Building core values in your organization
28:39 A guide to having a vision and transitioning well in your business
34:11 Who David would like to be a hero to
EPISODE LINKS:
Follow David Schmeikal:
The Gyst Life podcast: https://www.davidschmeikal.com/podcast
Website: https://www.davidschmeikal.com/
LinkedIn: https://www.linkedin.com/in/davidschmeikal/
Facebook: https://www.facebook.com/TheRippleMaker
Instagram: https://www.instagram.com/davidschmeikal/
YouTube: https://www.youtube.com/channel/UCwEBQHa4KRyh99UGegcabIg
️ WEALTH WITHOUT BAY STREET LINKS:
Learn how Canadian are Implementing Infinite Banking for Free Here: https://wealthonmainstreet.com/masterclass
Podcast Website: https://wealthonmainstreet.com/
Follow us on Facebook: https://wealthonmainstreet.com/fb
Subscribe to our Youtube Channel: https://wealthonmainstreet.com/yt
Book a 15-minute call: https://wealthonmainstreet.com/15mincall
Watch our Tribute To The Man Who Created Infinite Banking R. Nelson Nash here:
https://wealthonmainstreet.com/dayofnelson
Join Our Community! https://wealthonmainstreet.com/community
IBC RECOMMENDED BOOKS
https://wealthonmainstreet.com/books
️ WATCH THE DOCUMENTARY
Documentary Film This is Nelson Nash: https://www.ascendantfinancial.ca/nelson-nash-film/
Financial Advisor? Learn about the Infinite Banking Concept here: Nelson Nash Institute Practitioner Program: https://infinitebanking.org/practitioners-program/ref/6/
EVA – Economic Value Add The Real Key To Creating Wealth Article: https://infinitebanking.org/the-real-key-to-creating-wealth/ref/6/
Mary Jo Irmen is the author of the book Farming Without the Bank and a Farm Finance Strategist. She is changing how the farming industry is financed and helps farmers see that there are financial solutions for them and the next generations. Mary Jo’s mission is to take a 100-year-old financial process and turn it around by making the bank plan B rather than plan A, give farmers their financial control back, and allowing the next generation to take over without having to buy the farm from the bank again.
Get your copy of Life Without The Bank: https://wealthonmainstreet.com/life-without-the-bank
IN THIS EPISODE, YOU WILL LEARN:
0:00 Introduction
1:30 Why business owners are frustrated with banking system finance
5:29 What inspired Mary to write Life Without The Bank
12:02 The lack of control when contributing to retirement saving plans
16:58 The key message of Life Without The Bank
21:22 Key man insurance for when a business partner dies
EPISODE LINKS:
Follow Mary Jo Irmen:
Website: https://farmingwithoutthebank.com
LinkedIn: https://www.linkedin.com/maryjoirmen/
Facebook: https://www.facebook.com/maryjoirmen/
YouTube: https://www.youtube.com/channel/UCXYvzroUouEMsTGKFw5nJHQ
️ WEALTH WITHOUT BAY STREET LINKS:
Learn how Canadian are Implementing Infinite Banking for Free Here: https://wealthonmainstreet.com/masterclass
Podcast Website: https://wealthonmainstreet.com/
Follow us on Facebook: https://wealthonmainstreet.com/fb
Subscribe to our Youtube Channel: https://wealthonmainstreet.com/yt
Book a 15-minute call: https://wealthonmainstreet.com/15mincall
Watch our Tribute To The Man Who Created Infinite Banking R. Nelson Nash here:
https://wealthonmainstreet.com/dayofnelson
Join Our Community! https://wealthonmainstreet.com/community
IBC RECOMMENDED BOOKS
https://wealthonmainstreet.com/books
️ WATCH THE DOCUMENTARY
Documentary Film This is Nelson Nash: https://www.ascendantfinancial.ca/nelson-nash-film/
Financial Advisor? Learn about the Infinite Banking Concept here: Nelson Nash Institute Practitioner Program: https://infinitebanking.org/practitioners-program/ref/6/
EVA – Economic Value Add The Real Key To Creating Wealth Article: https://infinitebanking.org/the-real-key-to-creating-wealth/ref/6/
CLIENT SERIES EPISODE:
David Klein, 36 year old, has been a police officer for the past 13 years. He and his wife, Devon, have two boys and live in Alberta, Canada. David’s father worked for the CRA so RRSPs and cash in the bank were some of the key financial lessons that were taught in the Klein household growing up. David was introduced to IBC nine years ago. Thinking that IBC was a scam and sounded too good to be true, he spent nine months researching it and looking for loopholes that could exist. Not being able to find any, David finally started off with one policy that he used to pay off his car. David now has over four policies, paid off for two cars and the mortgage on their primary home. He also owns four other rental properties, all with his current income because of IBC.
IN THIS EPISODE, YOU WILL LEARN:
0:00 Introduction
3:10 How David became his own banker
5:25 The impact that IBC has had on David’s life
12:15 Getting started with IBC
19:04 David’s recommendation to people considering whether to start IBC
22:28 Nelson Nash’s five golden rules
25:29 The multigenerational impact of IBC
️ WEALTH WITHOUT BAY STREET LINKS:
Learn how Canadian are Implementing Infinite Banking for Free Here: https://wealthonmainstreet.com/masterclass
Podcast Website: https://wealthonmainstreet.com/
Follow us on Facebook: https://wealthonmainstreet.com/fb
Subscribe to our Youtube Channel: https://wealthonmainstreet.com/yt
Book a 15-minute call: https://wealthonmainstreet.com/15mincall
Watch our Tribute To The Man Who Created Infinite Banking R. Nelson Nash here:
https://wealthonmainstreet.com/dayofnelson
Join Our Community! https://wealthonmainstreet.com/community
IBC RECOMMENDED BOOKS
https://wealthonmainstreet.com/books
️ WATCH THE DOCUMENTARY
Documentary Film This is Nelson Nash: https://www.ascendantfinancial.ca/nelson-nash-film/
Financial Advisor? Learn about the Infinite Banking Concept here: Nelson Nash Institute Practitioner Program: https://infinitebanking.org/practitioners-program/ref/6/
EVA – Economic Value Add The Real Key To Creating Wealth Article: https://infinitebanking.org/the-real-key-to-creating-wealth/ref/6/
Is your relationship with money complicated? Do you find yourself working hard and yet have only a little money in your account once all your dues are cleared? In today’s episode, Lisa Campbell talks about the strategies to make your business more profitable.
Traditional accounting and bookkeeping services are transactional, where an accountant would be paid a fee to do the books and prepare your taxes. Most accounts do not help consult their clients on maximizing profits. Lisa helps guide entrepreneurs & bookkeepers to skyrocket their confidence, cash flow, and freedom with money, mindset & positioning tools to help them prosper exponentially.
Lisa is the owner of The Marcam Group, a profit strategy bookkeeping firm, Head of Mentoring North America for the Successful Bookkeeper, and creator of the Accelerate 2 Advisor Mastermind program. She is certified in the Profit First method and has years of hands-on experience increasing the profits for multiple businesses, and collaborating with other Profit First Specialists throughout the globe.
IN THIS EPISODE, YOU WILL LEARN:
0:00 Introduction
2:14 The clientele that Lisa serves
3:41 Lisa’s journey in business and starting with Profit First
11:18 Training the trainers in financial and profit coaching
15:10 The message of Lisa’s new book
20:15 Pivoting your business through Covid-19
26:24 The power of constant learning and coaching
38:57 Who Lisa wants to be a hero to
EPISODE LINKS:
Follow Lisa Campbell:
Website: https://www.lisacampbellprofitcoach.com/lcpc-home
Facebook: https://www.facebook.com/LCProfitCoach/
Instagram: https://www.instagram.com/lcprofitcoach/
️ WEALTH WITHOUT BAY STREET LINKS:
Learn how Canadian are Implementing Infinite Banking for Free Here: https://wealthonmainstreet.com/masterclass
Podcast Website: https://wealthonmainstreet.com/
Follow us on Facebook: https://wealthonmainstreet.com/fb
Subscribe to our Youtube Channel: https://wealthonmainstreet.com/yt
Book a 15-minute call: https://wealthonmainstreet.com/15mincall
Watch our Tribute To The Man Who Created Infinite Banking R. Nelson Nash here:
https://wealthonmainstreet.com/dayofnelson
Join Our Community! https://wealthonmainstreet.com/community
IBC RECOMMENDED BOOKS
https://wealthonmainstreet.com/books
️ WATCH THE DOCUMENTARY
Documentary Film This is Nelson Nash: https://www.ascendantfinancial.ca/nelson-nash-film/
Financial Advisor? Learn about the Infinite Banking Concept here: Nelson Nash Institute Practitioner Program: https://infinitebanking.org/practitioners-program/ref/6/
EVA – Economic Value Add The Real Key To Creating Wealth Article: https://infinitebanking.org/the-real-key-to-creating-wealth/ref/6/
How should you go about selling the business that you worked so hard to build? What are the steps you must take to ensure that you are able to capture maximum value while exiting your business? We have John Warrillow for you today.
John Warrillow is the founder of The Value Builder System™, and author of the bestselling books:
Warrillow is also the host of Built to Sell Radio, ranked by Forbes magazine as one of the world’s 10 best podcasts for business owners. Before founding The Value Builder System, John started and exited four companies, including one acquired by a public company. He lives with his family in Toronto.
Get Warrillow’s latest book, The Art of Selling Your Business: Winning Strategies & Secret Hacks for Exiting on Top: https://wealthonmainstreet.com/theartofsellingyourbusiness
IN THIS EPISODE, YOU WILL LEARN:
0:00 Introduction
1:20 The idea behind John’s new book
6:43 The freedom entrepreneurs experience when selling their companies
14:18 The message behind “Built To Sell”
27:39 The Value Builder software to valuate your company
37:00 Who John wants to be a hero to
EPISODE LINKS:
Follow John Warrillow:
Website: https://valuebuilder.com
LinkedIn: https://www.linkedin.com/in/john-warrillow-a54b241/
Twitter:https://twitter.com/johnwarrillow
Facebook: https://www.facebook.com/BuiltToSell/
Built To Sell: https://builttosell.com
️ WEALTH WITHOUT BAY STREET LINKS:
Learn how Canadian are Implementing Infinite Banking for Free Here: https://wealthonmainstreet.com/masterclass
Podcast Website: https://wealthonmainstreet.com/
Follow us on Facebook: https://wealthonmainstreet.com/fb
Subscribe to our Youtube Channel: https://wealthonmainstreet.com/yt
Book a 15-minute call: https://wealthonmainstreet.com/15mincall
Watch our Tribute To The Man Who Created Infinite Banking R. Nelson Nash here:
https://wealthonmainstreet.com/dayofnelson
Join Our Community! https://wealthonmainstreet.com/community
IBC RECOMMENDED BOOKS
https://wealthonmainstreet.com/books
️ WATCH THE DOCUMENTARY
Documentary Film This is Nelson Nash: https://www.ascendantfinancial.ca/nelson-nash-film/
Financial Advisor? Learn about the Infinite Banking Concept here: Nelson Nash Institute Practitioner Program: https://infinitebanking.org/practitioners-program/ref/6/
EVA – Economic Value Add The Real Key To Creating Wealth Article: https://infinitebanking.org/the-real-key-to-creating-wealth/ref/6/
CLIENT SERIES EPISODE:
Life took an unexpected turn for Jean that drained out his pension funds and RSP’s as well as max out his credit cards. The lack of control over his investment liquidity and getting taxed on every withdrawal was what moved Jean towards IBC. Jean has now been practicing IBC for the past few years and it has helped him clear off his credit card debts, pay off various household expenses as well as give him hope for the future financially.
Jean is a dedicated family man that has been married to his wife, Shelly for 31 years. He has a daughter that lives in Fort McMurray. He has been a Power Engineer for over 20 years and is currently working as a Training Coordinator for a major oil company looking after the training needs of all the staff at two SAGD facilities near Conklin, Alberta. He currently lives in Edmonton and enjoys many hobbies including golf and music and especially loves all things IBC.
IN THIS EPISODE, YOU WILL LEARN:
0:00 Introduction
5:54 Jean’s journey with IBC
12:49 New golden nuggets Jean finds every time he revisits Nelson’s book
18:44 The before and after of joining IBC
24:41 Experience attending “The Annual Infinite Banking Think Tank Conference”
️ WEALTH WITHOUT BAY STREET LINKS:
Learn how Canadian are Implementing Infinite Banking for Free Here: https://wealthonmainstreet.com/masterclass
Podcast Website: https://wealthonmainstreet.com/
Follow us on Facebook: https://wealthonmainstreet.com/fb
Subscribe to our Youtube Channel: https://wealthonmainstreet.com/yt
Book a 15-minute call: https://wealthonmainstreet.com/15mincall
Watch our Tribute To The Man Who Created Infinite Banking R. Nelson Nash here:
https://wealthonmainstreet.com/dayofnelson
Join Our Community! https://wealthonmainstreet.com/community
IBC RECOMMENDED BOOKS
https://wealthonmainstreet.com/books
️ WATCH THE DOCUMENTARY
Documentary Film This is Nelson Nash: https://www.ascendantfinancial.ca/nelson-nash-film/
Financial Advisor? Learn about the Infinite Banking Concept here: Nelson Nash Institute Practitioner Program: https://infinitebanking.org/practitioners-program/ref/6/
EVA – Economic Value Add The Real Key To Creating Wealth Article: https://infinitebanking.org/the-real-key-to-creating-wealth/ref/6/
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