P&L: Priorities & Lifestyle

Matt Krzysiak is the founder of Crest Solutions Group, an organization that helps its clients unlock their business’ potential by turning data into actionable information. Matt is a proven dynamic business leader, problem solver, and communicator known for delivering results. Before founding Crest Solutions Group, Matt held several C-suite and senior executive roles in several companies: Senior Vice President of Administration at USHEALTH Group, CEO of the National Motor Club Holdings, Inc., and Director of Information Systems at Specialized Association Services, Inc. He is also the former owner and director of MARTEX Software. Matt holds a degree in Electrical Engineering from Texas A&M University and received his Master of Business Administration degree from the Cox School of Business at Southern Methodist University.

Matt joins me today to discuss how great financial habits such as saving up and intentionally managing his lifestyle and family impacted his financial and personal life later in his career. He describes his professional journey and reveals what he’s learned from founding his own company. He explains how he learned about running a business from experience and why he decided to pursue an MBA later on. Matt also highlights the importance of cultivating culture in an organization and underscores how having a plan and being focused lead to effective execution.

“I’ve got the tech background and the MBA, but the big thing about running a business is the people and culture and getting a lot of that right.” - Matt Krzysiak

This week on Priorities Lifestyle:

• Matt’s professional history and the early days of PCs

• His journey to self-employment

• Balancing entrepreneurship and family

• The founding of MARTEX Software

• Leaving MARTEX Software and joining Specialized Association Services

• The importance of establishing operating agreements early in the business

• Why Matt decided to pursue an MBA and how he became involved with Vistage

• The value of joining a community for executives like Vistage

• Matt’s time and experience at the National Motor Club Holdings

Pete Essex is the Outscored VP of Sales at Sales Xceleration, a business and consulting services company and pioneer in outsourced sales leadership. With over 25 years of experience as a Vice President of Sales for Fortune 500 and start-up companies, Pete has established and rebuilt sales teams from the ground up. Using the Sales Xceleration process, Pete helps sales organizations identify trends and enhance and develop sales teams and sales strategies to execute their sales growth metrics. Pete holds a BA in Chemistry from the University of Texas at Austin and earned his MBA from Jones International University. He is a veteran who formerly served as a Captain, Commander, and Communications Electronics Staff Officer for the US Army.

Pete joins me to discuss how companies can accelerate their sales. He explains how he got into sales in the corporate world after serving in the military and how having the mindset to help and serve customers, as opposed to selling, can help a business. He describes how sales leaders can help companies navigate through an economic downturn. He also highlights the importance of individual coaching, offers his advice on hiring and retaining the best salespeople, and shares why he is passionate about scuba diving and flying.

“There are all different kinds of salespeople, but the really good ones listen well, formulate in their head what needs to happen next, and have their set processes.” - Pete Essex

This week on Priorities Lifestyle:

• The importance of sales

• Pete’s background and life in the military

• His ‘sales infrastructure’ concept and how the fundamentals of sales can turn around a small business

• The disconnect between owners, management, and salespeople

• The Sales Xceleration process

• The difficulty of finding excellent salespeople

• Creating compensation structures for salespeople

• Diagnosing and recession-proofing the sales of a company

• The power of leadership and communication skills

Lily Tapia is the founder and CEO of Exelvest Partners, a team of seasoned executives, finance professionals, and successful entrepreneurs who are passionate about growing companies and creating value. A creative corporate finance executive, Lily has over 30 years of experience in early-stage investing, private equity, commercial and private debt, and mergers and acquisitions. She has worked with hundreds of entrepreneurs throughout her career, helping them achieve successful growth and exits. Before founding Exelvest, she served as the Senior Vice President of Merrill Lynch, where she worked for over 17 years. She holds a Master of Business Administration degree from Florida International University College of Business and a Bachelor of Business Administration & Finance from the University of Florida at Warrington College of Business.

Lily joins me today to outline Exelvest’s strategic framework for taking founder-owned businesses to the next level. She shares her background and how she learned about the successes and challenges of founder-owned businesses while working at Bank of America Merrill Lynch. She addresses founder-owners’ concerns about maintaining control over their businesses. Lily also highlights the value of setting a clear vision for your company and underscores the importance of cash flow.

“Your vision is where you hope your company will go, but ‘hope’ is not a strategy, so we need to build a strategy to achieve that vision.” - Lily Tapia

This week on Priorities Lifestyle:

• Lily’s background and work with founder-owned businesses

• Exelvest’s mission to help founder-owned businesses with capital strategy, growth, and primetime

• How Exelvest offers value beyond capital and cash

• Finding investors and partners that align with a company’s risk profile and culture

• Enterprise values and why business founder-owners need to be clear about their objectives and expectations

• Vision, beginning with the end in mind, and strategizing to achieve your company mission

• “Finding Nemo” syndrome and aligning with your company vision

• Building momentum in your company and executing a strategy quickly and efficiently

• Why people are the hardest and most important aspect to manage in a business

Ross Paterson is a performance and leadership coach. He is also the President of XM Performance, a consulting, training, and coaching firm that helps small- to mid-sized businesses accelerate their growth. Ross has over 30 years of experience leading, coaching, and teaching in a wide range of environments. He formerly served as the Company Commander of the US Army’s 101st Airborne Division and a general manager at General Electric. In addition to his work at XM Performance, Ross is the founder and Director of Global Fusion, an international development non-profit. He holds a degree in Mathematics from James Madison University.

Ross joins me today to discuss what it takes to optimize a business’ work environment. He explains why it’s critical to build marketing and sales systems that regularly create cash flow. He shares how owners can avoid overwhelm and burnout. He discusses emotional intelligence in leadership and outlines his “VGHT” principle. Ross also highlights why having a strategic focus is essential to any business’s success and underscores why every organization needs to be clear on its culture.

“Humans want to feel loved and cared for, and they want to work on something that has meaning and purpose.” - Ross Paterson

This week on Priorities Lifestyle:

• Ross’ background and journey to entrepreneurship

• How his experience in the military translated to his life in corporate America

• The beginning of Ross’ coaching business and the importance of mindset

• The ethos behind XM Performance and its mission to make small businesses the best places to work in America

• The importance of having a strategic success

• Building teams and hiring the right talent for your organization’s culture

• The challenges of trying to grow a business quickly

• Getting clarity in corporate culture

• Passion, purpose, and different workplace attitudes among the newer generation of workers

• Ma

Brad Purifoy is an investment banker who serves as the Managing Director and Principal of Corporate Finances Associates Worldwide. With over 30 years of executive experience in the industry—including Fortune 500 corporate finance and Big 4 public accounting—Brad is a recognized expert in many transactions and was honored as the Sole 2013 finalist for the Dallas Business Journal Merger and Acquisition Awards Investment Banker / Intermediary of the Year. His transactions include full company sales, recapitalizations, senior lending, stock sales, and mergers. Before joining Corporate Finance Associates Worldwide, Brad was the Senior Vice President for BKD Corporate Finance and Managing Director for Westlake Securities. He holds a Master of Science degree in Accounting from Texas A&M University.

In this episode, Brad outlines different factors to consider when processing a business transaction. He discusses the value of working with an experienced investment banker when going through a business transaction. He explains how interest rates impact cash flow in an economy and how potential recessions and interest rates weigh on the minds of prospective business acquirers and lenders involved. Brad also shares his thoughts on the business cycle in 2023 and underscores the first steps business owners should take when considering taking their company to the market for a business transaction.

“Money is important, but there are some other factors that enter into the equation when selling a business. An ideal transaction comes down deeper than selling a company for the most money.” - Brad Purifoy

This week on Priorities Lifestyle:

• Liquidity events in businesses and why money isn’t the only thing that matters in a business sale

• Factors to consider when exiting or selling a business

• Different professionals business owners should work with when considering a transaction, business sale, or acquisition

• Brad’s greatest strengths as an investment banker

• Maximizing the value of the business

• Brad’s market forecast for the rest of 2023

• Timing a business transaction amid the ebb and flow of the business cycle

• Interest rates and inflation rates

• Business owners’ first steps toward a business transaction

Pete Benenati is a lawyer board-certified in estate planning and probate law by the Texas Board of Legal Specialization, and is licensed in Texas, Arkansas, New York, and Nevada. His firm, Benenati Law, is located in Bedford, Texas, and focuses on business, tax, estate planning, and the negotiation of business sales and executive compensation. Throughout his 30-year practice, Pete has served various clients, from small, closely-held family ventures to multimillion-dollar corporations, entity formation, and buy-sell agreements. Pete earned his Bachelor of Arts degree from Queens College in New York, his Juris Doctor degree from Syracuse University, and his Master of Laws degree in Taxation from New York University.

Pete joins me today to discuss business transitions, buy-sell agreements, and succession planning. He describes the characteristics of an excellent estate planning attorney and what it takes to close a deal in as short as 60 days. He explains why buyers tend to purchase assets over business entities and offers advice to families considering succession for the next generation. Pete also outlines different scenarios a buy-sell agreement needs to consider and offers negotiating and planning advice to business owners who want to sell their businesses in the future.

“Transactions start long before you ever get a letter of intent from the potential buyer. It gets to ensuring your financials, books, and corporate documents are in good order.” - Pete Benenati

This week on Priorities Lifestyle:

• Pete’s work as an attorney for estate and business planning

• What makes a good estate planning attorney 

• Closing a business transaction in 60 days

• Why buyers prefer purchasing assets over a business entity

• Asset sale tax treatment for C-Corporations and S-Corporations

• Transitioning a business to an unrelated party

• Creating trusts and transitioning estates to the next generation

• Why families need to discuss estate plans

• “Kid training” and succession planning for the third generation

Alex Vantarakis is a serial entrepreneur and national authority on mergers and acquisitions. He is the founder and President of The Vant Group, an industry-leading company that plans and supports business transfer transactions for a diverse client base. Since its foundation in 1999, The Vant Group has consistently outperformed industry averages along every performance metric in the mergers and acquisitions industry. In addition to his work at The Vant Group, Alex is the owner of Thornhill Catering in Dallas, Texas. He holds a Master of Business Administration degree from the Babson F.W. Olin Graduate School of Business and a degree in Finance from Boston College.

Alex joins me today to offer advice on buying and selling businesses. He describes his life growing up with entrepreneurial parents and explains how he became passionate about helping business owners get ready and sell their businesses to the market. He discusses why some entrepreneurial skills can’t be taught through formal education. He reveals the characteristics that make the best and worst business buyers and sellers. Alex also highlights the value of giving back to the community and underscores why communication and people skills are essential to all kinds of business owners.

“No matter what business you buy, you’re always selling.” - Alex Vantarakis

This week on Priorities Lifestyle:

• Alex’s background and his journey to becoming a business broker

• Why entrepreneurial skills can’t be taught through formal education

• The power of learning entrepreneurial skills through experience

• The importance of people and communication skills in entrepreneurship

• The Confidential Information Memorandum and The Vant Group’s secret sauce to business success

• The basic building blocks of success in buying or selling businesses

• What Alex wished he knew before he bought his first business venture

• What a lifestyle business is and how it differs from financial businesses

• The Founder’s Dilemma and the difference between a “rich” and a “king” business owner

Rob Knight is the owner and CEO of the Independent Buyers’ Company, a full-service buying organization with over 6,500 members and 7,400 stores across 25 states in the country. Rob became part of the Independent Buyers’ Company in 2010 and served as its Vice President and co-owner before becoming its full owner in 2016. Prior to this, Rob worked with The Coca-Cola Company as Vice President - Brand Manager, a role in which he oversaw the company’s Fuze and NOS beverages, and with Rockstar Energy Drink as Senior Vice President. He is also the former Vice President for National Accounts - Small Format at Dr. Pepper Snapple Group, a company where Rob began as a route salesman and worked his way through the ranks for over 20 years.

Rob joins me today to share his career journey, from starting out as a route driver and salesman to serving as the Chairperson & CEO of the Independent Buyers’ Company. He explains how mom-and-pop stores get left behind and how the Independent Buyers’ Company strives to help them grow. He highlights the importance of having the right mindset to achieve success. He also describes his childhood and how the values instilled in him by his grandmother continue to influence his work ethic as an entrepreneur today.

“I don’t want to take away the pains that teach you in life; sometimes, the struggle is what gets you to where you want to go.” - Rob Knight

This week on Priorities Lifestyle:

• A brief history of the Independent Buyers’ Company

• How the Independent Buyers’ Company has grown from 800 to 7,400 stores in 25 states

• How IBC teams and departments are set-up and organized

• How IBC shifted its strategy during the pandemic

• Rob’s career journey from being a route driver for Pepsi to serving as the CEO of IBC

• What keeps Rob motivated to seek more in life

• IBC’s East Store brand

• Rob’s family and how they inspire him

• Transitioning from working in a big corporation to running your own business

Brandon James serves as the Vice President for the Valuation Advisory team at Stout, a global investment bank and advisory firm that specializes in corporate finance, valuation, financial disputes, and investigations. Brandon has over ten years of experience providing service to publicly-traded and privately-owned companies on valuation-related matters—these include intangible assets, financial instruments, tax reporting, and mergers and acquisitions. From 2020, Brandon worked as the Vice President of Vantage Point Advisors until the organization joined Stout in 2022. He graduated summa cum laude from The University of Texas at Dallas with a Bachelor of Science degree in Finance.

Brandon joins me today to discuss the valuation process for businesses. He outlines the typical timeline of a valuation project and the top reasons businesses need to work with third-party appraisers to get a valuation. He explains the factors that drive value within an organization and the different approaches to valuation. Brandon also discusses how companies can increase their value and prepare for acquisition and underscores the benefits of getting a valuation even when a business owner is not planning to sell their company soon.

“Value drivers we typically look at are growth, profitability, cash flow, and risk. Within risk is another driver—size. Larger companies tend to transact for higher multiples.” - Brandon James

This week on Priorities Lifestyle:

• The Charter Financial Analyst credential and its exam’s pass rate

• Brandon’s valuation work at Stout

• Valuation and estate and succession planning

• Valuation discounts and estate tax valuation projects

• Why some industries have lower value than others

• What EBITDA is and its role in valuation

• Income and market valuation approach

• The transaction or Mergers & Acquisitions approach to valuation

• Cost- and asset-based approaches to valuation

David Rutherford is the owner, Lead Instructor, and Curriculum Developer of Froglogic Institute, an online education company that specializes in all subjects relating to and within the human condition. David—a former Navy SEAL, CIA instructor, and World Championship Performance Coach—has over 30 years of experience exploring human performance and team orientation. He is an expert on individual motivation, operational mindsets, and elite performance within extreme environments, and helps individuals and teams increase commitment, focus, and awareness of personal limitations and perceived potential.

David joins me today to discuss the relationship between performance and pain. He describes how he helps people restructure their perception of pain as it relates to their ability to perform. He reveals the greatest catalyst of change in a person’s life and why it’s challenging to continue growing as a person after finding business success. He defines what Froglogic is and outlines its four components. David also highlights why finding a purpose is an essential component of living a life of meaning and underscores why people need to have more faith in each other.

“Performance, essentially, is what pain you’re willing to endure to expand your potential.” - David Rutherford

This week on Priorities Lifestyle:

• David’s background and experience in podcasting, content creation, and public speaking
• Why podcasting is a great way to share your message
• Building a profound relationship with your podcast’s audience
• The positive application of pain and the relationship between endurance and potential
• Success and complacency and progressing from business success to personal success
• The greatest catalyst of change
• How being a mentor can continue your growth as a person
• The Operator’s Syndrome, hypervigilance, and the importance determining pain thresholds
• Embracing and using fear as a tool to move forward in life
• How long it takes for people to change physically, mentally, and spiritually
• The changing nature of life purpose
• How time plays a major role in David’s life
• The importance of reflection and evaluating emotional states

Our Favorite Quotes:

• “Self-confidence is something you work out no matter your age or station in life.” - Rob Schulz

• “Success sometimes brings a certain level of complacency. Growth sometimes stops because people have gotten to a point where they don’t know what to do next.” - Rob Schulz

• “If you really want to expose your genuine motivations—what really drives you—teach somebody else what you believe in.” - David Rutherford

Connect with David Rutherford:

• Froglogic Institute
• Froglogic Institute on Instagram
• Froglogic Institute on Facebook
• David Rutherford on Twitter
• David Rutherford on LinkedIn

About Rob Schulz and P&L Priorities & LIfestyle Podcast

The P&L: Priorities & Lifestyle Podcast is a show for business owners. In each episode, host and financial planner Rob Schulz sits down with business owners and the professionals that serve them to talk about business building, life, money — and the all-important transition out of the business, which inevitably happens to everyone who has ever founded a company. 

Email Rob at [email protected] with questions and comments, or to schedule a one-on-one conversation. 

Follow Rob on LinkedIn

Follow Schulz Wealth on LinkedIn

Order Rob’s book, Thoughts on Things Financial, on Amazon | Barnes & Noble | Kobo | iBooks | Kindle

Subscribe to the podcast here:

Apple Podcast 

Spotify

Google Podcasts

Stitcher

Audible 

And, if you enjoy the show, please leave a review to help others discover the podcast.

*You’re listening to P&L: Priorities & Lifestyle with your host Rob Schulz. Rob is the Founder and President of Schulz Wealth. All opinions expressed by Rob and his guests are solely their own opinions and do not reflect the opinions of Schulz Wealth. This podcast is for informational purposes only and should not be relied upon for investment decisions. Please refer to our website for more information: schulzwealth.com.