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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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…

After Further Review – Interview with Joe Sweeney

After Further Review – Interview with Joe Sweeney



What an amazing character we have on the show this week… what hasn’t this man done???

He’s worked in sports management with the likes of Brett Favre, he bought and sold four businesses by the time he was 35, he’s done multiple M & As in his time as an investment banker, and now he’s a bestselling author (Networking is a Contact Sport, Moving the Needle), speaker and coach. He also loves the work of our recent guests Dean Niewolny and Lloyd Reeb over at the Halftime Institute.

With that kind of background and experience you can probably guess, we were not exactly short of conversation! Listen to the show for some absolute gold advice about how to set yourself up for a fulfilling life after business, or read on for some of the highlights… read more…

Maximizing the value of your business -Interview with Jamison West

Maximizing the value of your business -Interview with Jamison West



We speak to a man who has been there and done it… from the business buyer to the eventual seller of his own company.  Jamison West overhaul his business model from the traditional IT, time and material (trading dollars for hours), to the new Managed IT Services monthly recurring model.  His new business gave him a 15%  jump in EBITDA, from the original 4%, so he was averaging to a healthy 17%!

Jamison gained great insight into the whole sale/valuation process during his acquisitions of multiple Managed IT firms and then used this experience to consciously prepare everything in his business before he finally sold to a strategic buyer.

This episode is a perfect example on how to maximize the value of your business while simultaneously achieving the day-to-day efficiency of your business and TRULY moving from the hub to the spoke. read more…

What Story Does Your Company’s Data Tell? – Interview with Rob Nelson

What Story Does Your Company’s Data Tell? – Interview with Rob Nelson



 

We’ve got a seriously wise man on the show this week. Not only did he sell his business for way more than the original offer, he then strategically mapped out the framework for his second half and he is having a blast doing it!

 

Rob’s goal for his life after business was to go into another venture, but despite feeling restless while working for the company he sold to, he only took the plunge once he had identified an opportunity that met the five strict criteria he’d devised. He is a great example of how good planning can set you up to succeed in a life after business, which of course is exactly why we’re here!

read more…

Do You Want to Be King or Do You Want to Be Rich? – Interview with Nina Hale

Do You Want to Be King or Do You Want to Be Rich? – Interview with Nina Hale

We’ve had some excellent discussions about the many benefits that an ESOP can bring, so we thought it was time to go in-depth with someone about their own ESOP exit journey.

Having built up her own highly successful SEO business, Nina Hale has now begun her second half and is in a life after business where she has some great balance and passion in her new ventures. Her story is a great example of how an ESOP can benefit a company every bit as much as it can benefit the seller.

Read on for a quick summary… read more…

You Tell Me the Price and I’ll Tell You The Terms – Interview with Scott Miller

You Tell Me the Price and I’ll Tell You The Terms – Interview with Scott Miller



 

Valuations, Gross Sale Price and Net Proceeds… What Really Matters?

I had a great conversation with Scott Miller in this episode and we tackle some of the most important concerns every business owner have has when transitioning their company, how does gross dollar amount turn into net proceeds in the bank? AND how long does it take to get it and what do I have to do to get it?

Scott is a serial entrepreneur as well as a CPA. He knows what it’s like to be on every side of the fence. Just how can you protect those net proceeds from all the clever tricks a buyer and their attorney might pull? Keep listening for the answers, or if you’re pushed for time, read on below for the show summary…. read more…

How to Live the 2nd Half of Life – Interview with Lloyd Reeb

How to Live the 2nd Half of Life – Interview with Lloyd Reeb

We continue the theme of ‘halftime’ in people’s lives by speaking to Lloyd Reeb, an eminent author and speaker who coaches and mentors for the Halftime Institute.

Lloyd shared with us some great advice about how to use an existing business as a platform to do good for others and for yourself, and his own story will strike a chord with many people too. In his words: “I was pursuing the american dream without any sense as to where it was going to take me”


In today’s episode, you will learn:

  • What the most important question you need to answer as an Entrepreneur
  • What it’s like to use your company as a platform to live the life you want
  • The Post-it note exercise to a great management team
  • How to find the right people to go on the Entrepreneurship journey with you
  • The 3 steps to find the best path to a great life and business

read more…

Moving from Success to Significance in Halftime (Part 1) – Interview with Dean Niewolny

Moving from Success to Significance in Halftime (Part 1) – Interview with Dean Niewolny



 

Today we’re speaking to someone who truly understands a life beyond business. As CEO of the Halftime Institute, Dean Niewolny has been empowering people to find fulfillment in their lives outside of work.

 

Dean has lived through his very own crisis too. Having spent 23 years in senior exec roles across Wall Street, he can remember staring out of the window one day and wondering what it all meant. That feeling of emptiness persuaded him to sign up to the Halftime Institute as a client, and it wasn’t long before he was given the opportunity to cross over to the other side and become a member of their senior management team.

 

What a meaningful conversation we had – it’s well worth a listen – but if you’re pushed for time, read on for the summary of the show… read more…

How to Keep Your Company and Work Less – Interview with Matt Shoup

How to Keep Your Company and Work Less – Interview with Matt Shoup



We’ve gone for a different take on this week’s episode by speaking to someone who’s never sold a business. What we like about Matt Shoup is his perspective. The way he has managed to get his business to a point where he can disengage from it whenever he wants is a great lesson for all of us.

 

As well as the obvious of achieving a good work/life balance, presiding over a business that doesn’t need you is the ultimate goal in maximizing the sale value.  In Matt’s case it has also enabled him to be a proper family man, indulge his passion for jiu jitsu, and travel to Spain as and when he pleases.

 

Read on for a summary of how he did it… read more…

How to Sell a Professional Services Firm for Top Dollar – Interview with Pamela Dennis

How to Sell a Professional Services Firm for Top Dollar – Interview with Pamela Dennis



 

Pamela Dennis is the author of one of 2016’s best books on exit planning, so we’re super-excited to get her on the podcast.  She has her own exit story to tell us about and then was able to package what she learned into a book that is practical and easy to read.

Pamela has been there and done it with her own business, and not just any business, a professionals services firm.  Many say that this is the most challenging industry to get top dollar for.  Firms are valued at 1 or 2 times earnings because more often than not the firm revolves around the owner and their intellectual property… therefore there isn’t much to transfer or sell.   However, not only did Pamela engineer the perfect exit, she managed to achieve what for many business owners is the impossible.   read more…

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