Capital Club

Did you know you can develop a whisky in a lab in just five months, contrary to the usual five years?

In this episode, Brian sits down with Taylor Foxman, founder, and CEO of Industry Collective, to discuss the booming beverage and cannabis industry. Taylor has spent the past 11 years in communications and PR roles for 70 global wine, beer, and spirit brands and was recently awarded 40 under 40 for industry and brand Innovator of the Year. Taylor discusses market saturation due to consumer demand and Covid-19 leading to more brands entering the market, health implications of drinking alcohol, and increased investment in non-alcoholic beverages and cannabis products. 

Join us as we navigate these topics with one of the top minds in beverage marketing!

[00:01 - 08:44] 13 Years of Serving Global Wine, Beer, and Spirit Brands and Innovating the Beverage Industry

• Taylor's brief background and career
• She began her career in beverages at 19/20, working as an intern for SPED vodka
• Alcohol consumption has increased dramatically during COVID, with a proliferation of new brands and startups in the space
• There are more resources available now for people to create brands from the ground up

[08:45 - 17:28] The Non-Alcoholic Beverage Market: Is There Room for More Brands?

• Market saturation in the beverage industry is increasing due to consumer demand
• Consumers have more optionality than ever before with non-alcoholic beverages, and there is no downside to this category
• Younger generations are more accepting of abstaining from drinking and don't need to rationalize it

[17:29 - 30:09] The Growing Acceptance of Cannabis and Non-Alcoholic Beverages

• Independent brands are leading the charge for non-alcoholic beverages
• Cannabis use is widely accepted and practiced in certain peer groups more than alcohol
• Education is needed to help people understand the wider category of cannabis products
• The venture capital market is currently very challenging for entrepreneurs and sponsors

[30:10 - 38:38] How to Achieve Your Goals with Daily Practices

• Celebrity partnerships and influencer partnerships are becoming more popular, which will cause a shift in strategy this year
• Brands are moving towards premiumization, with higher price points
• Manifesting is an important daily practice for Taylor to bring peace to her life

[38:39 - 40:04] Closing Segment

Quotes:

"You have to think and be so intentional with everything you do. Every email you write to an investor, every pitch deck you send to a potential distributor or retail partner, everything has to be buttoned up and spot on because you are in a market now." - Taylor Foxman

"I've learned that the more specific you get, the better." - Taylor Foxman

Connect with Taylor!

Website: www.theindustrycollective.org 

Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/

Connect with me on LinkedIn!

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Erinn Andrews, an expert in philanthropy and social entrepreneurship, is here to discuss her research on wealthy donors and giving trends. She shares that unrestricted gifts often come more readily when asked for and that nonprofits must create multi-year campaigns for their donors. Erinn also found that many donors act reactively to charitable requests rather than taking charge of their giving and maximizing their impact. With this in mind, she created GiveTeam, a philanthropic advising firm that partners with financial firms to help donors make informed giving decisions by understanding which causes they want to support, how much they can afford, and which organizations are best suited to help achieve their goals. 

Tune into this conversation to gain insights into donor motivations and how to engage in an intentional giving process!

[00:01 - 07:45] The Power of Unrestricted Giving

• Multi-year funding was a challenge for nonprofits as older donors were aging out
• Donors need to know what they want to fund, how much they can afford, and which organizations are available to fund aligned with their goals

[07:46 - 15:15] Uncovering the Generosity of the Top 2-10% of Donors

• The top 1% of givers give away millions of dollars each year and get most of the attention, but donors in the top 2-10% aren’t usually offered philanthropic support: a missed opportunity
• GiveTeam is a philanthropic planning company that works with financial firms to support their clients in-house around charitable planning, specifically for donors each giving ~$10K-500K/year (those in the top 2-10% of givers)

[15:16 - 21:53] Understanding the Value Proposition for Millennials and Gen Z

• 80 trillion will be passed on to millennials and Gen Z in the next two decades
• 75% of millennials consider themselves philanthropists: financial firms that embrace thoughtful philanthropic advising (beyond tax considerations) for their clients can better connect with this client segment

[21:54 - 30:01] How Donors Can Leverage Industry Trends for Maximum Impact

• When interviewing a financial manager, Erinn suggests that clients should ask about their expertise around helping clients articulate their charitable priorities and developing a thoughtful giving strategy beyond just tax considerations 
• Participatory philanthropy is becoming more popular, allowing those closest to the challenges to be involved in decision-making

[30:02 - 30:55] Closing Segment

Quotes:

"If you ask for it, you're more likely to get it." - Erinn Andrews

"It's not hard to put a little thought and effort into thinking about what you care about. And there are so many great organizations out there that are aligned with what you care about and are doing that great work." - Erinn Andrews

Connect with Erinn!

LinkedIn: https://www.linkedin.com/in/erinn-andrews/ 

Website: https://www.thegiveteam.com/ 

Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/

Connect with me on LinkedIn!

LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON!

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Brian welcomes George Bravante, a private equity investor focused on acquiring and operating farming assets in the Central Valley of California. In this episode, George talks about the region's importance for the US food supply and the Sigma Law passed in 2014 that regulates sustainability and has led to restrictions on some farmers. He believes that despite these restrictions, there is potential for consolidation and monetization of this opportunity set through investments in citrus crops. George also discusses his commitment to caring for his partners' money from his upbringing in a lower-middle-class family. Finally, he outlines how certain factors such as tariffs, crop abundance, inflation, consumer demand, and organic food affect the agricultural industry. 

[00:01 - 08:18] Opening Segment

• 50% of the US's food comes from California, including the Central Valley and Salinas Area
• Climate change is impacting production in Florida, which used to be a significant engine for US agriculture
• California passed the Sigma law in 2014, giving the state the right to regulate sustainability
• California provides half the produce in the country, and this may go down due to Sigma law

[08:19 - 15:49] California Farmers Face Crisis as Infrastructure is Destroyed and Water Supply Decreases

• George shares how infrastructure is being destroyed due to soil settling
• The investment strategy is to buy ranches and focus on citrus
• Targeting 8-12 year return with Sigma will value

[14:50 - 24:10] A 16-18% Return Over 10 Years with a Vertically Integrated Strategy

• The competition landscape is institutional equity getting into the space
• The industry will consolidate as far as the eye can see
• The importance of being committed to taking care of your partner's money

[24:11 - 32:20] Exploring the Benefits of California's Central Valley Production Hub

• Central Valley of California is a unique place to grow produce due to its climate and water supply
• The rise of the middle class in Southeast Asia has led to an expectation of 24/7 availability of fruits and vegetables
• Agriculture is seen as an inflation hedge, but prices have been hurt by Covid and shipping costs
• Organic sales have fallen due to people not willing to pay the premium during tough times

[32:21 - 33:32] Closing Segment

• Final words
• Connect with George through the links below

Quotes:

"Agriculture is a very cashflow intensive business. It doesn't trade on cap rates. It trades per acre, so it's inefficient. And the reason is that one guy's better than the guy next to him." - George Bravante

Connect with George!

Website: https://bravantefarmcapital.com/ 

Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/

Connect with me on LinkedIn!

LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON!

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Welcome back to The Capital Club! Host, Brian Adams, talks about his future goals for the podcast, which include transitioning to health and wellness and avoiding topics such as real estate. He explores how investing in physical and mental health can benefit your financial wellness and other aspects of life.

[00:29 - 04:57] Celebrating 200 Episodes of the Capital Club Podcast

• Capital Club Podcast has surpassed 200 episodes
• Exploring different things and having incredible guests on the show
• Going through a refresh and avoiding real estate podcast topics
• Focusing on health and wellness topics, including depression, alcohol, fitness, and mental health

Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/

Connect with me on LinkedIn!

LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON!

Hosted on Acast. See acast.com/privacy for more information.

What does it mean to prepare for retirement? Is it all about just the money? Join us in this episode as we explore the emotional and financial aspects of transitioning into retirement with Russel Baskin, family enterprise consultant with Trella Advisory Group. Discover how to create continuity plans, manage expectations, and nurture relationships even when retirement takes a more unexpected path.

Russel Baskin is a family enterprise consultant with Trella Advisory Group in Toronto, Canada. She brings grace and compassion to her work with families understanding the interconnected relationship between the needs of the individual and the well-being of the family.

Key Highlights:

[00:01 - 09:58] Navigating Retirement: Exploring the Challenges of the Baby Boomer Generation

• How the baby boomer generation struggles with retirement emotionally

• Why many refuse to exit their businesses or step out of their profession

• The lack of focus on the exiting generation and how creating continuity plans help

• Longevity has increased due to medical breakthroughs and wellness

[09:59 - 18:33] How to Balance Relationships and Longevity in Later Life

• Society is yet to catch up with the value of people in their sixties and seventies

• The largest percentage of divorces in North America is happening post-50s

• Retirement can bring assumptions that need to be checked out; have conversations

• Have conversations with your partner about what you both want to be doing together

[18:34 - 26:45] Planning for Reinventing Yourself and Making a Contribution

• Think about how much of your life purpose, identity, and meaning is wrapped up in work

• Consider contribution - what will you leave behind when you leave this life?

• Social networks contribute to health and well-being as much as eating healthy and exercising

• Allocation of resources should include mental health, friendship, and relationship building

[26:46 - 34:05] Take Stock of Your Relationships and Priorities to Create Balance in Your Life

• The pandemic was a wake-up call to prioritize what's important

• Time is often used as an excuse, but it's really about priorities

• It can be hard for both generations to accept that the senior generation no longer belongs

• Continuity planning is key for families with wealth and businesses, as they are perpetually in transition

Quotes:

"There's a lack of validation where they [the baby boomer generation] don't feel of value. A big part of this is feeling that their purpose and their identity have been so wrapped up in the work that they've been doing their whole life. There's a crisis of, who am I and what is the point of my life anymore?" - Russel Baskin

"It's not looking around the outside and going like, 'What other thing am I going to do right now?'. It's going inside and thinking about, 'What are my needs? What do I want? What would be meaningful to me?'." - Russel Baskin

Connect with Russel Baskin!

Website: https://www.trella.ca/

Linkedin: https://www.linkedin.com/in/russelbaskin/

Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/

Connect with me:

https://www.linkedin.com/in/brian-c-adams/ (LinkedIn)

LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in and Stay Tuned for the Next Episode COMING SOON!

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Shaun Parkin, managing director and founder of Hall Road Investments, is here to discuss the world of family offices. Shaun has worked with family offices since 2012 at State Street Global Advisors, running the exchange-traded fund business in Australia. He explains that a family office is a corporate entity set up to manage the assets of a single-family and how it can be used for purposes such as anonymity or investing directly with one counterparty. Shaun shares his experience leaving State Street Global Advisors to start his firm. He addresses the challenge of taking all the distinct data sets, aggregating them securely, removing manual components, and being able to analyze the portfolio in real time across multiple parts of the business. Lastly, he provides consulting services to family offices, mainly focusing on operational support, reporting, and investment structures. 

[00:01 - 06:56] Opening Segment

• Introducing Shaun to the show
• Family offices outside of operating companies are relatively new in Australia.
• A family office is defined as a corporate entity set up to manage the assets of a single family

[06:57 - 13:42] Leveraging Technology to Create Digital Family Offices

• How Shaun struggled with the 'golden handcuff' of working for a good business
• He started his firm four years ago to remove bureaucracy and build something to enjoy working for
• Technology has changed financial services, and multi-family offices are trying to leverage it

[14:43 - 22:17] Challenges for Family Offices in Australia

• The biggest challenge for Australian clients is putting in a full-blown tech stack
• Family offices often fall into a gray area between RIAs and institutional custodial relationships
• COVID has led to families relocating to Singapore and Australia in Southeast Asia for infrastructure, tax, and stability

[22:18 - 27:10] Exploring the Challenges of Asset Transition and Relationship Management with Family Offices

• Singapore is an attractive tax regime and has good staff, time zone, and capital allocation
• The baby boomer generation is exiting and rolling over assets to the next generation
• A good reporting structure helps engage with the next generation

[27:11 - 35:14] Closing Segment

• Sherpa Newsletter is a guide to the family office sector, sent out to 1000 people every two weeks
• Shaun's daily practice: has a daily practice of calming down for 15 minutes and thinking about what his perfect day would look like

Quotes:

"The toughest thing is to get that overlap between what you enjoy doing, what you're good at, and what people will pay for." - Shaun Parkin

Connect with Shaun!

Website: https://www.hallroad.com.au

LinkedIn: https://www.linkedin.com/in/shaun-parkin-41973425/?originalSubdomain=au 

Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/

Connect with me on LinkedIn!

LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON!

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Wrapping up the 3-part series of Questions That Investors Don't Ask But Should, Brian Adams discusses why investor references and referrals are critical. He shares their Frequently Asked Questions video with prospective investors and presents examples of people who offered to act as references for them. This episode highlights the importance of getting insight from investors on deals that have not gone well. It emphasizes the value of asking sponsors and managers about their track record of handling difficult situations, as this will give you a better sense of their investor relations, reporting, communication, and transparency. 

Ultimately, being aware of the risk involved in investing is vital. Still, the reward can come with understanding a group's behavior and learning from any mistakes made along the way. Tune in now for an insightful discussion about investor references and referrals!

[00:01 - 05:27] Asking the Questions Investors Don't Ask

• Include a frequently asked questions video segment when sending out a new investment opportunity
• Ask for references to investors in deals that didn't go well
• Get a different perspective from a happy investor
• Track record is how we react and respond to deals that don't go well
• Hard questions and difficult conversations reveal transparency, communication, and infrastructure
• Get a sense of how the firm operates in challenging situations

[05:28 - 10:34] Learning from Mistakes and Evaluating GP Sponsors Through Third-Party Vendors

• The character and value system of a group can be judged by how they navigate adversity
• Third-party vendors/service providers can give an industry perspective on the group
• How people treat others is a proxy for how they operate outside of communication
• Employer-employee mentality often influences collaboration and partnership
• Take note of the response from the GP and sponsor when asking for referrals

Quotes:

"The secret sauce is in asking the kind of questions that people don't typically ask, and you'll get some interesting responses." - Brian Adams

"Asking to speak to a former employee can be very powerful when you're doing due diligence on a manager. They can give you a really good perspective on company culture, capabilities, and organizational depth." - Brian Adams

Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/

Connect with me on LinkedIn!

LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON!

Hosted on Acast. See acast.com/privacy for more information.

Uncover the real meaning of disruption in today's episode with Pascal Finette! Pascal has a background in tech and has been part of the teams that built eBay across Europe and created Firefox. He joined Singularity University four years ago to understand better how companies can prepare for the future.

In this episode, he discusses the implications of disruptive innovation and how to identify weak and strong signals regarding technology. He explores Alan K's suggestion that Silicon Valley has been good at commercializing innovations but has yet to invest in groundbreaking innovations. Pascal also talks about assessing when a weak signal turns into something tangible and provides examples of successful disruptive innovation efforts, such as Tesla's use of first-thinking principles to reduce battery costs. Finally, Pascal identifies leadership traits necessary for creating an environment required for successfully implementing these changes. 

Tune in now to hear Pascal's thought-provoking insights into disruption!

[00:01 - 08:35] Opening Segment

• Welcoming back Pascal to the show
• Four years ago, he took what he learned from Singularity University to marry it with his business background to help leaders and their organizations prepare for the future
• He has just released a new book called Disrupt Disruption

[08:36 - 18:02] Unlocking the Potential of Disruptive Innovation

• Five key buckets for successful disruptive innovation efforts
• Weak signal vs strong signal
• First principles thinking

[18:03 - 21:53] Exploring the Impact of Leadership Changes on Tech Companies

• Tesla looked at the raw materials of their batteries to understand where inefficiencies were and how to reduce costs
• Most companies don't use Agile principles outside of software development
• Agile principles can be used across the entire organization to make it more nimble and agile
• Processes are essential but need to be questioned and challenged

[21:53 - 33:29] Finding the Right Leadership Traits for Upskilling and Reskilling in the Workforce

• Acknowledging that it's cheaper to do upskilling and reskilling internally than looking for new talent
• Leaders need to be ambivalent, commit to the edge, and understand risk categories

[33:30 - 34:51] Closing Segment

• Connect with Pascal through the links below!

Quotes:

"Don't give me a theory. Don't show me the PowerPoint. Tell me what you did." - Pascal Finette

"The challenge with common sense is it's typically not common practice." - Pascal Finette

Connect with Pascal!

Book: www.DisrupttheBookcom 

LinkedIn: www.linkedin.com/in/pfinette/ 

Website: https://beradical.group 

Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/

Connect with me on LinkedIn!

LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON!

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Selling your business can be an emotional journey, and it's often the lack of knowledge of what comes after that causes anxiety. So, what happens after an exit?

Todd Goldman is the managing director of a boutique M&A firm specializing in ESOP advisory. ESOPs, or Employee Stock Ownership Plans, incentivize owners to transition their companies through Congress' 1042 legislation, enabling them to sell tax-free. This conversation covers the challenges and opportunities of private equity transactions and ESFs. Todd also dives into the goals of ESFs, including maintaining a sense of control, stakeholder value, legacy, and market liquidity for the business. 

Tune in to learn more about exit strategies for business owners and employee stock ownership plans!

[00:01 - 07:25] Opening Segment

• ESOP stands for Employee Stock Ownership Plan
• Louis Kelso pioneered the concept in the 1970s to incentivize business owners to transition in a different way

[07:26 - 14:45] ESF Deals for Market Liquidity, Legacy, and Life of Relevance

• Private equity is seen as significant on the front end but can be challenging to work with
• The goals for ESFs include legacy, a life of relevance, culture, stakeholder value, and getting market liquidity for the business

[14:46 - 20:48] Generational Differences in Employee Ownership

• Gen Z and Millennials view work relationships differently
• Employee ownership is attractive to younger generations
• Retention rates are higher in employee-owned companies

[20:49 - 27:04] Unlocking the Benefits of ESOPs

• ESOPs are an excellent outcome for people-based businesses
• ESOPs are an attractive option for owners who want to transition out of their business
• ESOPs involve raising third-party financing with a bank and setting up a legal entity

[27:05 - 33:51] The Nuances of Business Transition Planning

• Having the right influencers around the table is vital for closely held businesses
• Goals must be discussed to understand what the business owner wants to accomplish

[33:52 - 35:49] Closing Segment

• Todd's daily practice: yoga and sleeping well
• Connect with Todd through the links below

Quotes:

"It's not the ability to keep a hundred dollars in your pocket. If you're thinking about the macro picture for your family, it's legacy. It's a life of relevance, it's the culture, and it's the stakeholder value." - Todd Goldman

"Don't put your head in the sand. Get the right people around the table. Do the education while you have time, and then be honest about your goals." - Todd Goldman

Connect with Todd!

Website: www.lazearcapital.com 

LinkedIn: https://www.linkedin.com/in/todd-goldman-81a968149/ 

Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/

Connect with me on LinkedIn!

LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON!

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Does your family business have the appropriate ecosystem to contribute each unique skill effectively?

Join us as we explore the importance of engaging the next generation in family businesses with Rebecca Finley-Schidlowsky. Rebecca is a strategy, governance, and leadership development specialist for family offices and companies across North America. She has identified three main groups of next gens - young kids (0-11 yrs old), teens (12-16 yrs old), and young adults (17-35 yrs old). She will explore topics such as teaching them how to run an effective meeting, communication, transparency, social media policies and ESG initiatives, financial literacy, philanthropy, networking outside their family, trust with their peers, and setting up a shadow board. We will also learn about the importance of exposing the next generations to various learning opportunities to foster their identity and education around leadership.

Tune into this episode to gain insights into engaging the next generation in family businesses!

[00:31 - 08:19] Opening Segment

• Introducing Rebecca to the show
• Next Gen is a term used to refer to anyone 40 years old or younger
• Rebecca divides Next Gen into three buckets: young kids (0-11), teens (12-16), and young adults (17-35)
• There is a challenge with the middle group of 35-65-year-olds who should be stepping into leadership positions but are held back by the generation above them

[08:20 - 20:34] Engaging Next Gens in Leadership and Philanthropy

• Next Gens need guidance and assistance to carve out space for their own identity outside of the family
• Financial literacy is often lacking, and investment councils can help teach this
• Shadow boards comprised of solely next gens are becoming more popular to advise family companies
• Next Gens are passionate about ESG initiatives and have a huge thirst to learn

[20:35 - 30:31] How to Foster Engagement and Learning Within the Next Generation

• Older generations should ask the next-gen what they are interested in doing
• Starting young is crucial; families should be intentional about retreats, in-person activities, meetings, etc.
• Family history research can help connect families and build interactive family trees

[30:32 - 33:00] Closing Segment

• Connect with Rebecca through the links below

Quotes:

"Even though you're born into a place of privilege, these Next Gens have a lot of anxiety, especially about thinking that they can't fill the shoes of the people that have come before them." - Rebecca Finley-Schidlowsky

Connect with Rebecca!

Email: [email protected] 

Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/

Connect with me on LinkedIn!

LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON!

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