LIFE AFTER BUSINESS [Podcast]

Hey! My name is Ryan Tansom and I sold a family business with my Dad, Corey, in 2014 and I’m on a mission to learn everything I wish I would’ve known before we sold.

If I would’ve known then what I know now, we could have and extra $1.6 Million in our pockets and controlled the whole exit process!

I interview entrepreneurs who have sold a business, authors, advisors, and thought leaders, any anyone I think can shed light into areas like:

  • How your life goals and visions impact your options/exit plan
  • How to value a company and maximize net proceeds
  • How to increase the value of your company
  • What exit options are out there and how they work
  • What kind of team of advisors you should have and how they get paid

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Designing Your Golden Handcuffs – Interview with Dyanne Ross-Hanson

Designing Your Golden Handcuffs – Interview with Dyanne Ross-Hanson



Dyanne Ross-Hanson started Exit Planning Strategies in 2005 when she realized the business owners that she worked with didn’t give much thought to how they were actually going to get out of their businesses. She saw a need to educate these owners and develop intentional plans for ownership transition.


If you listen, you will learn:

  • Why rewarding and retaining key employees is so important
  • Four design variables of an incentive program for key personnel
  • Difference between cash based and stock based incentive plans
  • Different ways you can structure cash based incentive plans
  • Ways to transition ownership financially to family members
  • Tax implications for different incentive plans

read more…

Always Be Ready to Sell – Interview with Stuart Sorkin

Always Be Ready to Sell – Interview with Stuart Sorkin



Stuart Sorkin is a lawyer and CPA who spent many years working for large accounting firms before starting his own law practice. His broad range of experience allows him to see how tax, financial, and estate planning are intertwined and become extremely important when selling a business. He took everything he learned working with large clients on business plans and estate planning and co-wrote a book called “Expensive Mistakes When Buying and Selling Companies.”


If you listen, you will learn:

  • Top mistakes made when buying or selling a business
  • The importance of exit and post-acquisition planning
  • How estate planning and the sale of the business are intertwined
  • What is a Monte Carlo Analysis and how it can help with exit planning
  • How key employees can increase the value of the business
  • Keeping an up-to-date due diligence library will make the sale and transition easier
  • The six ways an entrepreneur can exit their business

read more…

Getting Acquired by Google – Interview with Mike Nunez

Getting Acquired by Google – Interview with Mike Nunez



Mike Nunez founded AffiliateManager.com with his brother but always wanted to work for Channel Intelligence in Orlando. After a random encounter with the CEO of Channel Intelligence, he was called up to work for them. Six years later Channel Intelligence was acquired by Google for $125 million in an all-cash deal.

Now Mike’s back growing AffilateManager.com into an industry leader by applying all the techniques he learned selling to Google.


If you listen, you will learn:

  • How a start-up company operates with the clear goal of acquisition
  • The importance of taking advantage of networking opportunities
  • What Google looks for when acquiring a company and how to align your business to be ready for an acquisition
  • The importance of having a clear vision and initiatives in your business
  • How Google handles acquisitions and the merging of employees
  • Having a solid team of employees is everything

read more…

The Perfect Exit – Interview with Tim Keran

The Perfect Exit – Interview with Tim Keran



Fresh out of college with the urging of his Dad, Tim Keran took over the daily operations and management of the family printing business, Western Graphics. He quickly grew the company from $3 million in revenue with 25 employees to $11 million with over 50 employees at its peak.


If you listen, you will learn:

  • How Tim used professional management techniques to run the family business
  • Open-book management practices
  • The benefits of a peer group
  • Importance of improvement projects which hold all employees accountable
  • The list of 6 key points Tim needed for the perfect sale of his company
  • Importance of exit planning and a clear plan for your “second act”

read more…

Train Your Brain to Reach Peak Potential – Interview with Dr. Patrick Porter

Train Your Brain to Reach Peak Potential – Interview with Dr. Patrick Porter



Dr. Patrick Porter is an entrepreneur, award-winning author, speaker, consultant, and the creator of BrainTap Technologies which uses technology to reformat how the mind works and thinks. Dr. Porter and his newest BrainTap technology helps people tap into their minds full potential through light, sound, and frequency.


If you listen, you will learn:

  • How to use technology for a meditation experience
  • How technology can offset the stress overload that we encounter
  • The four primary brain wave states
  • How to retrain and refocus your entrepreneurial mind
  • Not just what to think, but how to think
  • How to train your brain to function at its highest peak potential

read more…

Using an Exit to Fund Another Venture – Interview with Dan Faggella

Using an Exit to Fund Another Venture – Interview with Dan Faggella



Dan Faggella founded a Brazilian Jiu-Jitsu Academy to pay for college and grad school which sparked the idea for his eCommerce business, Science of Skill. Science of Skill was created for the sole purpose of eventually selling it and using the exit money to fund an artificial intelligence market research company. He grew Science of Skill past $2 million in revenue, sold it in 2017, and TechEmergence was born completely funded by the exit.


If you listen, you will learn:

  • How recurring revenue helps the value of your business
  • Importance of finding a marketing channel that ensures consistent profitability and growth
  • Having key employees that can run the company without the owner can increase the value of the company and provide for a smoother transition/exit
  • Importance of knowing how the processes of your company tie into growth and profit
  • How to figure out and analyze the core metrics of your business
  • Finding the right broker makes a ton of difference when selling a business

read more…

Deciding to Sell and What Comes Next – Interview with Mark Raderstorf

Deciding to Sell and What Comes Next – Interview with Mark Raderstorf



Mark Raderstorf is a Rehabilitation Psychologist by training and lifelong entrepreneur by choice. Mark was working at the University of Minnesota Medical School and decided to launch into private practice back in the 1980’s. He founded Behavioral Medical Interventions, Inc. (BMI), a disability management company and national provider of psychiatric and physical disability management services. For the next 15 years before selling the business, he helped people with injuries or disabilities in their emotional, psychological, or vocational adjustments.


If you listen, you will learn:

  • How important referral relationships and reputation are to a service business
  • The impact key employees/shareholders have on the value of a company
  • The importance of having a coach/consultant during a company sale
  • How employees are the key asset in a service business sale
  • Having a plan for the sale of your company and your life after business can relieve stress and help with the adjustment

read more…

5 Bold Choices For You & Your Business – Interview with Jay Coughlan

5 Bold Choices For You & Your Business – Interview with Jay Coughlan



Jay Coughlan, former CEO of Lawson Software, took the company public at $200 million and grew the revenue to $430 million. Besides CEO of Lawson Software, he is also known for other titles including former CEO of XRS Corporation, a father, a son, and a convicted felon. After a devastating accident, Jay spent time in jail and completely redefined his life.


If you listen, you will learn:
 

  • The five bold choices to help you rise above your circumstances and redefine who you are
  • How not to live “comfortably numb”
  • How eliminating negative self-talk will make you more confident
  • A quick three question debrief exercise to help turn failure into a learning opportunity
  • The importance of knowing and performing activities that give you energy
  • How to apply the five bold choices to your business and take some action

read more…

Understanding Your Customer & Defining Progress – Interview with Bob Moesta

Understanding Your Customer & Defining Progress – Interview with Bob Moesta



Bob Moesta, current President and Cofounder of The ReWired Group, created the Jobs To Be Done Theory along with Harvard Business School Professor Clayton Christensen. The theory has successfully helped Moesta start, build, and sell several startups and launch over 3,500 products over the years. It is the main method used in his current occupation which helps business owners reevaluate their companies and drives them to really understand their customer to be a more profitable and valuable company.

 

If you listen, you will learn:

  • What businesses are mistakenly doing that cost them customers and sales
  • How to use the Jobs To Be Done Theory to reevaluate your company
  • How to define progress and what that looks like to you
  • What causes people to make progress
  • How to frame your product or service as a solution to your customer
  • How context can create value

read more…

Pursuing Happiness in Life and Business – Interview with Marc Miller

Pursuing Happiness in Life and Business – Interview with Marc Miller



Most people say that business isn’t personal, however if you’ve ever owned or currently run a private business, you know that statement is completely false… your business is a reflection of you and all your values. Your business and your life are inevitably intertwined.

Marc Miller, Owner and Chief Happiness Officer at Imagine IT, has made happiness his life’s work after experiencing a tragic family event. Even though life threw him a very challenging curveball, he is on a mission to figure out “what it takes to be happy” even if it comes from an unlikely place.


If you listen, you will learn:

  • How to keep running a business when you experience a family tragedy
  • Four principles of happiness
  • How to use your business to teach your values
  • How to make happiness actionable in the workplace


read more…

The ROI of Company Culture – Interview with Paul Spiegelman

The ROI of Company Culture – Interview with Paul Spiegelman




Paul Spiegelman founded BerylHealth and eventually sold to Stericycle, a global services organization with 25,000+ employees. He was able to take his most favorite part of his job and transition into the role of Chief Culture Officer at Stericycle in hopes of scaling the culture he built and cherished at his first company.

If you listen, you will learn:

  • How culture can impact business
  • Three things every employee wants out of their company and culture
  • Processes to implement and measure culture
  • Challenges and rewards of transitioning out of a business that is a reflection of yourself

read more…

Granting Wishes as an Entrepreneur – Interview with Mia Hoagberg

Granting Wishes as an Entrepreneur – Interview with Mia Hoagberg



 

President and CEO of Make-A-Wish Minnesota, Mia Hoagberg, explains that business owners and entrepreneurs should be involved in non-profit work in a way that makes sense to them, their business, and that aligns with their skills and passions.

If you listen, you will learn:

  • Transferable skills from traditional business to non-profit
  • What ways entrepreneurs/business owners can get involved and make a difference
  • How you can leverage your relationships and skills in a non-profit
  • Mission of Make-A-Wish Foundation and different types of wishes
  • Three misconceptions of Make-A-Wish Foundation

read more…

Journey to an Extraordinary Life – Interview with Stever Robbins

Journey to an Extraordinary Life – Interview with Stever Robbins



Stever Robbins, Executive Business Coach, podcaster, MIT and Harvard Business School grad, musical writer, producer, actor, singer, investor, and business owner, has made a life out of living in the moment andStever Robbins, Executive Business Coach, podcaster, MIT and Harvard Business School grad, musical writer, producer, actor, singer, investor, and business owner, has made a life out of living in the moment and focusing on the journey, not the goal.

If you listen, you will learn:

  • What it means to live an extraordinary life
  • Four major myths of living a successful life
  • To focus on the journey, not the goal
  • The four major aspects or questions of journey
  • How your sense of identity may be limiting the things you do in life

read more…

Successful Exits Require Planning – Interview with John Brown

Successful Exits Require Planning – Interview with John Brown



John Brown, owner of Business Enterprise Institute (BEI), fell into the world of exit planning before there was even a term for the process. As an estate attorney in the 80’s, John was approached by clients wanting to exit their business without a clue how to do it. BEI was born from John’s realization of this unmet need in the marketplace. Now BEI educates, certifies and provides tools to Exit Planning Advisors who help owners create exit plans.

If you listen, you will learn:

  • The three universal goals every owner needs to answer before exiting their business
  • Goal vs reality in exit planning
  • Importance of a written exit plan well before you want to exit your company
  • Realizations owners have about their business in the exit process
  • Definition and significance of transferable value
  • The role a capable management team will play when planning for an exit

read more…

Leveraging the Online World to Grow Value – Interview with Mark Daoust

Leveraging the Online World to Grow Value – Interview with Mark Daoust



After selling his online publication with over 220,000 subscribers, Mark Daoust was approached by a friend also wanting to sell his business. This was the start of what would become Mark’s next adventure, Quiet Light Brokerage, has currently sold over $100M in online companies.

If you listen, you will learn:

  • What it means to be an online company
  • The different types of online businesses
  • How online businesses are valued
  • How to increase the transferable value of your company
  • The power of analytics online
  • How a traditional business can leverage the internet

read more…

Hunting the Next Best Thing – Interview with Clint Fiore

Hunting the Next Best Thing – Interview with Clint Fiore



When approached by an inventor with 7 patents for a new giant fake tree hunting blind, Clint Fiore went out on limb (a very lifelike tree limb) and quit his current job to raise capital, build a prototype, find an angel investor, manufacture, market, and sell what would eventually become Nature Blinds.

If you listen, you will learn:

  • The process of getting a start-up company going
  • What it is like working with angel investors
  • Opportunities and downfalls that may come with angel investments
  • The trouble with valuing a start-up company
  • How Clint sold ownership interest and exited his business
  • How he leveraged his skills and migrated into buying and selling businesses in the middle market

read more…

Finding Passion and Buying Online Businesses – Interview with Chris Yates

Finding Passion and Buying Online Businesses – Interview with Chris Yates



Chris Yates owned and operated a digital marketing agency, chained to his desk day after day managing employees and client demands. After a call came in from an old employer looking to partner with Chris for his “next thing” after selling his own company, Chris’s life changed and the one he envisioned for himself started to emerge.

If you listen, you will learn:

  • The process of buying an online company
  • The risks and opportunities of buying an online company
  • How online companies are valued
  • How online businesses are different from traditional business
  • The 8 different types of online businesses
  • Criteria (sniff-tests) to decide to buy or not to buy an online business
  • Where to turn for analysis and advice on this process

read more…

From Bankrupt to $270 Million Dollars – Interview with Norm Brodsky

From Bankrupt to $270 Million Dollars – Interview with Norm Brodsky

From zero to $120+ Million in 6 years to bankruptcy, then to the cover of Inc. Magazine and the eventual sale for hundreds of millions of dollars, Norm Brodksy deserves every ounce of praise and money he received when he sold! The battle wounds of his first tragic business venture turned him into one of the wisest entrepreneurs I have ever encountered.

The stories Norm shares with us are incredible! It was fascinating hearing him recount how he used his articles in Inc. Magazine to showcase his selling process with his potential buyers and then rejecting the offer at the last minute despite having appeared on the front page with the headline “Norm Says Yes”.  read more…

Use Your Business to Change Lives – Interview with Tana Greene

Use Your Business to Change Lives – Interview with Tana Greene



This week we have a great story of someone that worked really hard to figure out who she was, what she wanted from her business and life, and why. Tana Green has done some exceptional things along her journey into her second half. She decided to use her current business as a platform to accomplish her life’s aspiration to change people’s lives.

If you listen, you will learn…

  • How one person used her business to empower her and answer her calling in life
  • How Tana used her business as a platform to raise $10M for charity
  • The power of having access to a large workforce and contact base
  • How real change can happen on a large scale
  • Lloyd Reeb’s low-risk probes in action: the concept of trying meaningful and fulfilling pursuits until something sticks
  • The benefits of taking time out to evaluate your own mind
  • How to create a humane culture in your firm from the top down
  • The value of the Strength Finder system
  • The negative connotations of the term ‘CEO’ and how a ‘CLO’ could be the future of corporate governance

read more…

Grow Your Company and Sell It – Interview with Terry Lammers

Grow Your Company and Sell It – Interview with Terry Lammers



We have a serious high achiever on the podcast this week – a man who managed to buy 11 companies (one in just three days) and sell his own $42 million company in just six weeks.

After moving back home, Terry Lammers bought the family wholesale fuel and lubricants business. He became prolific in the marketplace by then buying up more and more of the competition. You will not find a man more experienced in the game of M & A… read more…

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