P&L: Priorities & Lifestyle

Hamiz Mushtaq Awan is the founder of Plutus21 Capital, a quantitative and fundamental investment firm dedicated to opportunities in the next generation of the internet. Hamiz and the Plutus21 team combine data science and tech with their investment experience to create a proprietary adoption index for investing in adoption leaders and their fastest-adopted competitors.  With over a decade of experience investing in alternatives across multiple countries, Hamiz is regarded as an expert on emerging markets, alternative investments, and entrepreneurship. He graduated from Southern Methodist University as a Don Jackson Fellow and holds a degree in Finance.

Hamiz joins me today to discuss Blockchain, cryptocurrency, and Web 3.0. He explains why regulation is a necessary part of developing investment innovations and technology. He describes FTX Trading Ltd’s collapse and how the Bernie Madoff Ponzi scheme continued for decades. He hypothesizes how social media could be reshaped with the advent of Web 3.0. Hamiz also reveals why digital assets distract us from the true potential of Blockchain and why Web 3.0 is better—even if it comes with a cost.

“The only way to get the full potential of technology to change and improve lives is to bring it out of the shadows and into the mainstream—and regulation is a necessary part of that.” - Hamiz Mushtaq Awan

This week on Priorities Lifestyle:

• Putting the guard rails and rules & regulations in new investing technology
• Fraud in Bitcoin and cryptocurrency and the fall of FTX Trading Ltd

• MADOFF: The Monster of Wall Street and how one of the biggest Ponzi schemes went on for decades

• The original promise of Blockchain as a Web 3.0 technology
• Taking a stand on Web 3.0 and actual, pure Blockchain technology
• Why digital assets are a distraction and how we can get away from it
• Investing on the economic ecosystem behind Blockchain as an infrastructure 
• Why Hamiz uses an adoption index as a Blockchain investment strategy
• The LENS PROTOCOL and reshaping the future of social media in Web 3.0
• The Uber competitor completely built on Blockchain protocols

Our Favorite Quotes:

• “Blockchain and cryptocurrency are revolutionary and necessary—it’s going to happen whether you want it to or not, and it’s best to put our heads together and figure it out.” - Rob Schulz

• “Character is something you need to look for in the people you want to invest in. Character means doing the right thing even if it’s hard.” - Rob Schulz

• “Unless we think idealistically, we will all always hate our social media platforms but do nothing about them.” - Hamiz Mushtaq Awan

Connect with Hamiz Mushtaq Awan:

• Plutus21
• Plutus21 on LinkedIn
• Plutus21 on Twitter
• Plutus21 on Medium
• Hamiz Mushtaq Awan on LinkedIn
• Hamiz Mushtaq Awan on Twitter

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.

The current state of the economy is not exactly bullish. Disruptions left and right, scandals in the crypto industry, and inflation and interest rate hikes are all over the news. It’s tough to make a good call under these conditions, but you can mitigate some of the risks if you know where to put your money. How do you make sound financial decisions in this market? What are some best practices when investing during these times?

In this episode, Austin joins me to discuss the market and why we’re still bearish. We explain the differences between the economy and the stock market and why the first year of Covid-19 exemplified them. He shares his thoughts on tax codes and why tech companies need to be regulated more. He describes his trading experience and what he’s currently looking into for investments. We also deliberate on what’s happening on the crypto side of things, especially with the recent FTX scandal that rocked the crypto industry.

"If there's no legislative action done by congress by 2025, the current estate exemptions are pretty much going to be cut in half." - Austin Smith

This week on Priorities Lifestyle:

• The future of planning and investing
• Who Austin Smith is and when he joined Schulz Wealth
• Paying state taxes from a legacy standpoint
• Austin's thoughts on the current tax codes
• Taxing mutual funds and what happens if they goes down
• Austin's trading experience and how he chooses where to park his money
• Making sense of why the markets are still down
• The glaring differences between the stock market and the economy
• Knowing when to see a bubble in this kind of economy
• The recent FTX scandal and the waves it's making
• The inefficiency of regulations on massive tech companies
• Why our long-term investments are based on sound decisions
• What 2023 will be like for Austin

Resources Mentioned:

• TechScape: Inside the $8bn FTX crypto scandal – and its real-world impact

Our Favorite Quotes:

• "Even if the value of a mutual fund goes down, there's still some trading within that fund." - Rob Schulz

• "When we do long-term planning, we tend to make good decisions around investments.” - Rob Schulz

• "There's no safe backstop in the crypto world." - Austin Smith

Connect with Austin Smith and Rob Schulz:

• Schulz Wealth
• Phone: (817) 405-4014

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

Follow Schulz Wealth on Facebook

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.

David Walters is the Senior Vice President of CBRE Fort Worth, a leader in commercial real estate services and investment with over 105,000 professionals in over 100 countries. He has over 22 years of experience in real estate, focusing on tenant reputation, consulting, government services, higher education, and consulting. He is a recognized expert in acquisitions, dispositions, and financial consulting.

David joins me today to describe how his career in real estate began and how the pandemic affected CBRE. He offers actionable advice for those interested in investing in real estate. He discusses risk management and why crashes and calamities are inevitable. He explains the real estate situation in the North Texas area. David also shares his thoughts on the popularity of remote work and why he prefers traditional office culture.

"If you were a young person, I just don't know how you could not be in the office—not learning from all kinds of things." - David Walters

This week on Priorities Lifestyle:

• How David got started in the real estate industry
• The effect the dot-com bubble had around David's area
• What David tells everyone when preparing for calamities
• Comparing the recent pandemic to previous national disasters
• Why David prefers going to an office over remote work
• What 2020 was like for David and his career
• Measuring current occupancy rates around Texas
• The positive effects of the pandemic on hobbies and recreation
• David's advice to those who want to put some money into real estate

Our Favorite Quotes:

• "The best commercial real estate brokers are the ones who know what's going on." - David Walters

• "As business people, you have to be able to work through disasters and make sure your business survives." - Rob Schulz

• "One of the concerns I have is how people make their decisions around real estate." - Rob Schulz

Connect with David Walters:

• CBRE
• Phone: (817) 919-6427; (817) 333-1118
• Email: [email protected]

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

Follow Schulz Wealth on Facebook

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.

Marcia Mantell is a retirement business guru who helps clients navigate the confusing and increasingly complicated path of retirement planning. She primarily focuses on Social Security and Medicare, letting retirees enjoy the second half of their lives as worry-free as possible. Marcia is also behind Boomer Retirement Briefs, a blog that explores how the Boomer generation is changing our perceptions of retirees and retirement living.

Marcia joins me today to describe the right time for leaders to plan for retirement, whether it means selling their business or having a succession plan. She explains the different retirement scenarios for single and married people. She discusses healthcare, its complexities, and what we can do to make it easier for our future retired selves. Marcia also reveals why your 60s are some of the best years of your life.

"There are so many moving parts these days, healthcare's only going to get more complicated." - Marcia Mantell

This week on Priorities Lifestyle:

• The schools of thought leaders need to make good decisions
• The age when leaders should think about finances after retirement
• Why Marcia loves being in the business arena
• Arranging retirement finances as a married couple
• Succession planning and selling your business when you're 55
• Why we need to change the way we advertise Medicare
• What IRMAA means in Medicare
• Why your 60s are the critical planning years
• How retirement becomes a different challenge when you're married
• Reinventing retirement from a Boomer perspective

Our Favorite Quotes:

• "At 62, the gates of social security open wide. Every single person knows that." - Marcia Mantell

• "If it's insurance against longevity, you want the number you start with to be as high as possible." - Rob Schulz

• "Traditionally, we worry about retirees when inflation is high." - Rob Schulz

Connect with Marcia Mantell:

• Boomer Retirement Briefs
• Mantell Retirement Consulting
• Marcia Mantell on LinkedIn
• Marcia Mantell on Twitter

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

Follow Schulz Wealth on Facebook

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.

Chris and Stephanie Lofton are the people behind Edens Touch Diversified, a landscaping company that serves municipal and commercial entities in the Dallas, Fort Worth area. The company provides complete landscaping services and uses cutting-edge technology to take clients on 3D walk-throughs of their dream projects. What separates Chris and Stephanie from other business owners is how they were both incarcerated and had to work their way up with an X on their backs. Because of the challenges of finding new life after prison, they prioritize hiring employees who are seeking a second chance at everyday life.

Chris and Stephanie join me today to describe what it’s like to get back into society after spending time behind bars. They share the challenges of discrimination, especially when looking for work. They explain how they eventually found their way up and started their own companies. They also discuss the people who helped them get back on their feet and why hiring ex-convicts isn't as bad as people think.

"People are never going to be perfect, but teach them to choose—and choose right." - Stephanie Lofton

This week on Priorities Lifestyle:

• The story of how Chris and Stephanie started from less than zero
• How they met in prison and what life was like after being released
• The challenges of living everyday life as ex-prisoners
• How Chris managed to buy a minivan by selling candy bars
• How Chris became a manager despite having an "X" on his back
• Who Judy is and how she helped Chris and Stephanie in their business
• Addressing the stigma around ex-prisoners in the workplace
• What managers and employers don't understand about ex-prisoners
• The challenges involved with hiring ex-convicts
• Teaching people to choose the correct answer all the time

Our Favorite Quotes:

• "What I realized about our business was, when it was more about people and how we could help them be better, the business took off." - Chris Lofton
• "We can't raise our kids exactly to be what we imagine them to be." - Rob Schulz
• "You take care of your people, your people will take care of you." - Rob Schulz

Connect with Chris and Stephanie Lofton:

• Edens Touch Diversified
• Regional Railroad
• Chris Lofton on LinkedIn
• clofton@edenstouchlandscape
• [email protected]

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

Follow Schulz Wealth on Facebook

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.

Jordan Jayson is the CEO and Chairman of US Energy Development Corporation, a private oil and gas firm founded in 1980 that provides direct energy investments. As the head of the company, Jordan is in charge of overseeing its strategy, vision, and change management implementation. Before becoming the company head, Jordan earned over a decade’s experience on Wall Street, managing various portfolios and trading on behalf of large companies. 

Jordan joins me today to describe what US Energy Development Corporation is and how he transitioned to becoming its CEO. He shares what it was like growing up with entrepreneurial parents and what he learned from them. He explains what owners should understand when appointing board members. He discusses why taking risks is part of the responsibility of being a CEO. Jordan also underscores the importance of team members knowing they’re being appreciated. 

“One thing about being chairman and CEO is if it doesn’t go right, it’s your fault. If it does go right, we share with the team.” - Jordan Jayson

This week on Priorities Lifestyle:

• How Jordan managed to keep the company afloat after losing his parents in the same year
• What US Energy is and how Jordan’s parents started it
• What the oil and gas wells scene was like in the 80s
• How the company worked in the 90s and how it works today
• How Jordan’s family valued continuous education
• When Jordan was promoted to CEO and what the transition was like
• What owners should be wary of when picking board members
• Why they moved from Buffalo, New York, to Texas
• Why Jordan attributes being a risk-taker to leadership
• The most rewarding program Jordan has completed
• How Jordan sees the company’s leadership changing for the next generation
• The importance of being verbal about your team’s success
• Where the company is at in terms of culture

Resources Mentioned:

• OPM Program at Harvard

Our Favorite Quotes:

• “There are ways to be competitive without it being excitable.” - Jordan Jayson
• “There’s always going to be a shift in the way things happen—otherwise, the business can’t grow moving forward.” - Rob Schulz
• “I don’t really believe in balance. I believe in passion. We should be passionate about things important to us.” - Rob Schulz

Connect with Jordan Jayson:

• US Energy Development Corporation
• Jordan Jayson on LinkedIn
• Email: [email protected]

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

Follow Schulz Wealth on Facebook

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.

Amanda Lewis and Stan Ninemire are part of the North Texas Community Foundation, a non-profit organization that helps donors support causes that matter to them through tax-efficient strategies. Amanda is the Director of Charitable Gift Planning and assists clients with philanthropic advising and solicitation of donor prospects. Stan Ninemire is the company’s Chief Investment Officer with extensive experience in all aspects of operations, accounting, finance, and supply chain management.  

Amanda and Stan join me today to describe how the North Texas Community Foundation allows clients to make an impact with their money before or after exiting their business. They share how owners should plan for charity and the organizations they can support. They discuss what a donor-advised fund is and why it’s a popular tool used by many philanthropists. They also explain how they help clients find the charities they can impact the most and what would happen if the owners wanted to donate internationally.

"Owners want to see their dollars make an impact and know they're going to move the needle for an organization that means something to them.” - Amanda Lewis

This week on Priorities & Lifestyle:

• How Amanda found her passion in helping owners get established with their giving
• What owners should think about when their business is about to be sold
• Donor-advised funds and why they’re popular
• How to make charity more impactful
• The countries their services extend to
• What drew Stan to the foundation
• The documentation involved when a donor wants to use their services
• Their thoughts on remote work

Our Favorite Quotes:

• "I never would have guessed that people could work as effectively remotely as well as we can." - Stan Ninemire
• "I want to be charitable, but what I really want is my kids to do that, too." - Rob Schulz
• "You're talking about not selling the business and then taking the proceeds and being charitable with it, but potentially moving the stock itself into a charitable structure prior to the sale." - Rob Schulz

Connect with Amanda Lewis:

• North Texas Community Foundation
• Amanda Lewis on LinkedIn
• Email: [email protected] 

Connect with Stan Ninemire:

• Stan Ninemire 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

Follow Schulz Wealth on Facebook

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.

Jon Thurmond is a managing partner at Axis Financial, a financial services company that helps customers get insured and plan for medical emergencies, retirement, and wealth transfer. Before becoming a managing partner, Jon was a full-time insurance agent from 2005 to 2019. This experience allowed him to specialize in cold-calling, direct sales, and customer relations. Jon earned a Bachelor’s degree in Business Administration and Management from Southern Adventist University.

Jon joins me today to describe the importance of finding the right insurance product that meets your current and future needs. He shares his book-selling experience and recounts how he wound up in insurance. He explains different types of life insurance and their respective benefits and drawbacks. He discusses why insurance agents want the best products for their clients. Jon also describes how expensive insurance can get if you smoke tobacco or do not disclose that to your agent.

"You can have all the life insurance in the world, but if you don't have the money to pay the premium, you're not going to afford that life insurance." - Jon Thurmond

This week on Priorities & Lifestyle:

• How Jon got into the insurance industry
• What Jon learned about the value of insurance
• Why Jon's thankful for the professional challenges he encountered
• Jon's philosophies on buying insurance
• Common misconceptions about getting life insurance
• What consumers should ask about agent commissions
• How many insurance products should you get?
• When should you reassess your insurance products?
• Comparing and contrasting various insurance products
• Who benefits the most from permanent coverage?
• The best time to get term insurance
• Why you shouldn't look forward to being qualified for welfare
• The coverage you get and the premiums you'll pay if you smoke tobacco

Our Favorite Quotes:

• "Insurance is one of those things you think you will never need." -- Jon Thurmond
• "I don't think people understand how hard it can be to get coverage in place." - Rob Schulz
• "A lot of times, to make the right insurance decision, we have to almost be fortune tellers." - Rob Schulz

Connect with John Thurmond:

• Axis Financial
• Jon Thurmond on LinkedIn
• Email: [email protected]
• Phone: (817) 618 3369

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

Follow Schulz Wealth on Facebook

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.

Pam Vincent is the President of Transworld Business Advisors, a company that helps clients buy or sell businesses. She has over 30 years of experience in marketing, sales, and retail, with 18 years spent in the technology industry across various leadership roles. As part of Transworld Business Advisors, she specializes in business valuation, closings, asset sales, and mergers and acquisitions. Clients recognize Pam as an expert in creative business structuring and business alliances.

Pam joins me today to describe her transition from Corporate America to entrepreneurship and where her passion for helping business owners started. She explains the common problem each of their clients encounters. She shares the importance of starting a business with an exit in mind. She discusses the value of franchises, especially if you want to leave the rat race. Pam also details what business owners need to prepare for potential buyers.

"We always think our business is worth more than it's actually worth." - Pam Vincent

This week on Priorities Lifestyle:

• How Pam found her passion for helping owners sell their business
• Transitioning from Corporate America to owning a retail company
• The reason Pam left Corporate America
• What Pam finds is a common theme among their clients
• Why Pam decided to sell her business
• Pam’s preparation for exiting her company
• How they help clients decide how to price their business
• Reducing risks for the future owner
• What owners should get started on if they want to sell their business in the future
• The average time a deal needs to close and the factors involved
• Pam's thoughts on buying franchises
• Pam's personal life and her love of dogs

Our Favorite Quotes:

• "One of the most important things when building a business is think about building relationships."- Pam Vincent

• "There are certain things you don't have control over and one of them is location." - Rob Schulz

• "How you get to grow and get the return is through creativity." - Rob Schulz

Connect with  Pam Vincent:

• Transworld Business Advisors North DFW
• Pam Vincent on LinkedIn
• Pam Vincent on Facebook
• Pam Vincent on Instagram
• Phone: (469) 714-4107

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

Follow Schulz Wealth on Facebook

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.

James “Jim” Lanter is an attorney-at-law. He serves as an advocate, advisor, and counselor for small to midsize businesses. With over 35 years of experience, Jim has handled matters concerning commercial litigation, trying arbitrations, and lawsuits from a state and federal level. Jim helps business owners protect their assets and companies, especially in preparation for events that may ignite conflicts in ownership and management. 

Jim joins me today to discuss how business owners should prepare when something goes wrong with their company. He explains the importance of legally setting up your company and why multi-partner businesses are more complex than solo businesses regarding deaths. He shares his thoughts on life insurance, disability provisions, and buy-sell agreements. Jim also describes the need for your data to be protected, especially from competitors.

"The biggest risk is not setting up your company legally to protect your personal assets." - Jim Lanter

This week on Priorities Lifestyle:

• The types of documents to ask your lawyers to prepare
• What made Jim want to become a lawyer
• What Jim likes about being a lawyer
• Risks of businesses owned by one person vs. businesses owned by multiple entities
• What happens to the company and its clients if a solo business owner dies
• Jim's thoughts on life insurance
• Getting business partners to agree on a path if something goes wrong
• Settling potential business arguments regarding disability provisions
• What makes an excellent buy-sell agreement
• Piercing the corporate veil
• The different ways to transition your business
• Protecting your data from competitors

Our Favorite Quotes:

• "Like everything else, best start from the beginning because, by the time dad is 65 years old, life insurance is going to be hard to get." - Jim Lanter
• "The easiest way to protect my family was to have life insurance." - Rob Schulz
• "80%-90% of the buy-sell agreements are not funded with any provisions like life insurance or disability insurance." - Rob Schulz

Connect with Jim Lanter:

• Lanter Law
• Jim Lanter on LinkedIn
• Email: [email protected]
• Phone: 817.453. 4800

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, comments, and to schedule a one-on-one conversation. 

Follow Rob on LinkedIn

Follow Schulz Wealth on LinkedIn

Follow Schulz Wealth on Facebook

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

Subscribe here:

Apple Podcast 

Spotify

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