P&L: Priorities & Lifestyle

Tom Bronson is the President of Mastery Partners, a company that helps business owners smoothly transition their business and define the ultimate exit strategy that fits their terms. He is the author of Maximize Business Value: Begin with the Exit in Mind, a book that outlines the process of building business value and preparing for an exit strategy from the perspective of a business owner. Tom is also the host of the Maximize Business Value podcast, a show for business owners who want to build long-term, sustainable value in their companies. 

In this episode, Tom joins me to discuss the do’s and don’ts of an exit strategy and how business owners can prepare for the process of transition. He shares the common mistakes company owners make during their transitioning phase. He tells the story of when his father fired him and the lessons he learned from it. He describes why business owners prefer to use the term “transition” over “exit.” Tom also explains the value of owners taking vacations, the importance of keeping corporate records updated, and how long it takes to sell a business.

"No matter where a business owner is in their business, it's always good to define an exit strategy." - Tom Bronson

This week on Priorities Lifestyle:

• The common factors in every transaction and acquisition
• The different ways businesses can prepare for a transition
• Why Mastery Partners was founded and how they help companies transition
• What Tom says is the best way to start writing your first book
• The story of when Tom was fired by his father and his takeaway
• Why you should always separate family from business, even if you work with each other
• What qualifications a business owner should look for in an intern
• How long it takes for a company to get prepared for a transition
• Why Tom prefers the term "transition" over "exit"
• Reasons why business owners should think about exit planning
• The questions business owners should be asking when it comes to transitions
• How long it usually takes to sell a business
• Why business owners should take take vacations
• Corporate records and why business owners need to update them regularly

Our Favorite Quotes:

• "Business owners have an unrealistic expectation of what their business is worth." - Tom Bronson
• "You have to be willing to treat family members just like you would any other employee." - Tom Bronson
• "To get fired is one thing. To get fired by your dad is yet another."- Rob Schulz

Resources Mentioned:

• Rob Schulz on the Maximize Business Value Podcast - Thoughts On Things Financial

Connect with Tom Bronson

• Mastery Partners
• Book: Maximize Business Value: Begin with the Exit in Mind by Tom Bronson
• Maximize Business Value Podcast

About Rob Schulz and P&L Podcast

The P&L 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 Facebook

Subscribe to Schulz Wealth on YouTube

Order Rob’s book, Thoughts on Things Financial, here. 

Subscribe here:

iTunes

Android

Google Play

Stitcher

Spotify

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

Michael “Mike” Sweet is an attorney for Brackett & Ellis, a Fort Worth law firm that provides a wide range of litigation and transaction services. He has extensive experience representing clients in a variety of legal services, including estate planning and trust and estate tax. Michael has also been awarded Board Certification in Estate Planning and Probate by the Texas Board of Legal Specialization, a title achieved by no more than 10% of practicing attorneys in Texas.

In this episode, Michael shares how business owners can prepare their business for the unexpected. He describes some of the ways a strong business can shut down. He explains the importance of assigning a risk management group to ensure that your company has a safety net if things go south. He discusses how to find successors and how to make sure they can keep the business running well after your exit. Michael also describes why working with an attorney who can handle your estate taxes is always worth the money regardless of costs. Don’t miss the end, where Michael talks about preparing for the upcoming change in tax laws — and what it can mean for your estate planning. 

"If the ultimate goal is to sell your business, there are things you have to do years before that." - Michael Sweet

This week on Priorities Lifestyle:

• Michael's experience as an attorney for prominent accounting firms
• How the 2008 recession affected businesses across all industries
• The most unexpected events that can close down a business
• Assigning a team that can prepare for the unexpected
• Why it's critical to seek the people who can take over your business after you exit
• Why any adult needs a will, and why a business needs a buy-sell agreement
• What makes a good buy-sell agreements
• Why working with an attorney to handle your buy-sell agreements is worth the investment
• The question Michael asks all his clients before they start
• Thinking about estate tax issues and preparing for changing tax laws

Our Favorite Quotes:

• "The sooner you can identify the people who are ready to take over, the better." - Michael Sweet
• "You have to plan for the unexpected if you're a business owner." - Michael Sweet
• “It’s not only the economy or something that comes in and affects our profits in our business. It can be other things, too, that we really don’t want to think about.”  - Rob Schulz

Connect with Michael Sweet

• Brackett & Ellis
• Email: [email protected]
• Phone: (817) 339-2452

About Rob Schulz and P&L Podcast

The P&L 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 Facebook

Subscribe to Schulz Wealth on YouTube

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

Subscribe here:

Apple Podcast 

Spotify

Google Podcasts

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

Odes Mitchell is the CEO of GM Pharmaceuticals, a family-owned and operated pharmaceutical company based in Arlington, Texas. Established in 1991, the company has produced over-the-counter and prescription medications as well as supplements to doctors, pharmacies, and consumers. Unlike many of his peers, Odes had a humble start in life, working as a truck unloader in his youth and an airport baggage handler for fourteen years. A man of deep faith, Odes owes his success to the opportunities God sent his way, and it shows: the G in GM Pharmaceuticals stands for God, and M for Mitchell, because God comes first.

In this episode, Odes describes his life: his youth, the small jobs he took, and how the entrepreneurial spirit latched onto him and led to the founding of GM Pharmaceuticals. He explains his experience in sales and why no one is born proficient in the field. He shares how God showed him the path to success. He discusses some of his company’s popular products and the innovations the company has made. Odes also explains why he doesn’t like to take business loans and why he sees the future of sales as fully digital.

"God gives you responsibility. The more successful you are, the more opportunity God is going to give you." - Odes Mitchell

This week on Priorities Lifestyle:

• Odes’s path to successfully running two companies
• How a college degree enabled Odes to get him where he is today
• How Odes got into the pharmaceutical field and when he learned to sell
• Odes’s various products and patents
• What it was like bringing Odes's children into the business
• How the pandemic affected their business and the strategy the company has enacted
• How Odes predicts the needs of the market
• The unique technology that made their niacin product release for 9 hours
• Odes's thoughts on borrowing money for his business
• Why Odes is ramping up the digital side of their business

Our Favorite Quotes:

• "I believe God puts you in spots."
• "A lot of times, we think of planning for success from a monetary standpoint." - Rob Schulz
• "As our careers mature, it's so important to have that next generation." - Rob Schulz

Connect with Odes Mitchell

• GM Pharmaceuticals
• TexaClear
• LinkedIn

About Rob Schulz and P&L Podcast

The P&L 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 Facebook

Subscribe to Schulz Wealth on YouTube

Order Rob’s book, Thoughts on Things Financial, here. 

Subscribe here:

iTunes

Android

Google Play

Stitcher

Spotify

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

Shawn Broussard is the CEO of Service First Mortgage, a full-service mortgage lending company established in 1997 to serve clients in Texas and Arizona. The Service First Mortgage team prides itself on being a preferred partner of the real estate community, with clients using their services for fast underwriting turnaround and shorter-than-average processing days. As CEO, Shawn strives to improve customer service by equipping his team with various tools and training. He says a happy team is what creates a culture of customer satisfaction.

In this episode, Shawn discusses how he joined the mortgage industry and what makes Service First Mortgage different from other mortgage companies. He describes the various risks and regulations associated with mortgages. He explains what can threaten the industry in the future and how businesses can prepare. He shares how a healthy team leads to better customer service. Shawn also describes how they fared throughout the pandemic and what he predicts the future of workplaces will be post-Covid-19.

"Being able to do it for a long time in the mortgage industry is a big deal. That is a tough industry to survive." - Rob Schulz

This week on Priorities Lifestyle:

• Who Shawn is, when his passion for mortgages started, and how he got into the mortgage industry
• The different risks associated with this type of business
• Identifying the most critical part of any company
• The industry threats Shawn sees on the horizon
• Why Shawn doesn't see real estate pricing going down in Texas
• Why Shawn doesn't see himself retiring anytime soon
• Shawn's purpose in his business right now
• Why Service First Mortgage leadership focus on their team instead of their customers
• How they were ready to do business during the pandemic
• How the elections affected the mortgage business
• What working will be like in a post-pandemic world

Our Favorite Quotes:

• "When you go to a consumer-direct model―and you have those peaks and valleys―you have to staff up and lay off." - Shawn Broussard
• "If you have a healthy team, then you have good customer service." - Shawn Broussard
• "Interest rates will increase or decrease our flow of business, but they won't put us out of business." - Shawn Broussard

Connect with Shawn Broussard

• Service First Mortgage
• LinkedIn

About Rob Schulz and P&L Podcast

The P&L 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 Facebook

Subscribe to Schulz Wealth on YouTube

Order Rob’s book, Thoughts on Things Financial, here. 

Subscribe here:

iTunes

Android

Google Play

Stitcher

Spotify

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

James Sellers is the Founder and CEO of the Sellmark Corporation, a company dedicated to building “Brands That Sell” in the shooting and outdoor industry by developing, acquiring, manufacturing, marketing, and distributing products in various outdoor categories (such as night vision, laser sights, tactical scopes, camping kits, and first aid kits.) James’ decades of experience in the art of selling have allowed him to specialize in branding strategy, product development, sales management, public speaking, and strategic planning. James is also a Founding Board Member of the Southwest MERIT Association, a non-profit organization of business leaders that focuses on promoting industrial competitiveness and innovation.

In this episode, James shares the different stages of being an entrepreneur, from coming up with a product to sell, to leaving a legacy when you retire or sell the company. He describes how Sellmark was founded and what the first years were like, especially during 9/11 and the Crash of 2008. He explains what his college mentality is and how it helped him better manage his finances. He discusses the difference between financial advisors and bankers and why you have to strike a balance when listening to their advice. James also shares how business owners can prepare for retirement and how to let go of the business effectively. 

"When you're in a business that has high growth potential, it changes things dramatically." - James Sellers

This week on Priorities Lifestyle:

• What it feels like to be heavily involved in the community
• What inspired James to start Sellmark
• The focus of James' book idea and how he plans to write it
• What drives James to produce new ideas and great products
• Why James kept his college student mentality and how it allowed him to manage his finances
• James' thoughts on social media, information overload, and how to get your head above water
• What James focused on when he first started the business
• What the first few years were like for the company
• How financial advisors can help entrepreneurs manage their company’s finances
• What James believes business owners should focus on when it comes to financial planning
• James' thoughts on managing your personal finances for your legacy
• The mistakes entrepreneurs make when it comes to letting go of their business

Our Favorite Quotes:

• "Financial advisors will help you find ways to take cash and invest it to make it available for even more opportunities in the future.” - James Sellers
• "When you decide to transition out of the business, it’s not easy. You have to decide what type of transition you are going to do.” - Rob Schulz
• “The more successful you are, sometimes, the more complicated things get.” - Rob Schulz

Connect with James Sellers:

• Sellmark Corporation
• Southwest MERIT Association
• LinkedIn

About Rob Schulz and P&L Podcast

The P&L 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 Facebook

Order Rob’s book, Thoughts on Things Financial, here. 

Subscribe here:

iTunes

Android

Google Play

Stitcher

Spotify

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

Brandon Jones is a shareholder at Winstead PC, a national corporate law firm with offices in North Carolina, New York, and Texas. Their 300+ attorneys serve as legal advisors to clients in various industries including aviation, financial services, healthcare, investment management, and sports. Brandon has over 20 years of experience working with clients in many industries and different types of business entities, from corporations and partnerships to LLCs and MLPs. He is also an expert attorney in the Opportunity Zone space, serving as a popular speaker on the topic all over the country. 

In this episode, Brandon shares the Opportunity Zone provision and how businesses can make it work to their advantage. He describes how it began, its purpose, and how an entity can benefit from an Opportunity Fund. He explains the tax benefits associated with Opportunity Funds and the steps needed for a business owner to have one. Brandon also discusses the various terms and acronyms a business leader would encounter in this new program. 

"The Opportunity Zone program is an economic development tool designed by the government to encourage the investment of capital into certain targeted areas designated as opportunity zones." - Brandon Jones

This week on Priorities Lifestyle:

• How we met Brandon and his experience as an attorney
• What the Opportunity Zone provision is
• What an Opportunity Zone can do for somebody in the context of capital gains
• The loopholes exploited in Opportunity Zone eligibility
• Why the Opportunity Zone provision is great for taxpayers
• How the Opportunity Zone law works for businesses
• The benefits of investing in an Opportunity Zone fund
• The critical terms necessary to invest in an Opportunity Zone fund
• What to watch out for in Opportunity Zone investments

Our Favorite Quotes:

• "Anything treated as capital gain is eligible for investment into an Opportunity Zone fund." - Brandon Jones
• "Opportunity Zones are unique in the tax benefits they provide." - Austin Smith
• "Whatever you put money into still needs to be a good investment." - Austin Smith

Connect with Brandon Jones

• Winstead PC
• Email: [email protected]
• Phone: (214) 908 1784

About Rob Schulz and P&L Podcast

The P&L 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 Facebook

Subscribe to Schulz Wealth on YouTube

Order Rob’s book, Thoughts on Things Financial, here. 

Subscribe here:

iTunes

Android

Google Play

Stitcher

Spotify

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

Lisa Harrington is a Vistage Chair, Brand Strategist, and Strategy Coach. She is the Founder & CEO of Abiding Strategy, a leadership coaching business. She specializes in strategy coaching, culture shift, vision mapping, management consulting, and brand strategy among others. She has over 35 years’ experience with coaching clients in executive positions. Lisa earned a Bachelor’s degree in Management from Ball State University and holds eight coaching and consulting certifications, including CPCU, CAM, CRIS, CAE, AAM, AAI, AIAM, and AIP. 

In this episode, Lisa shares why communication is at the core of her leadership coaching strategy. She describes the importance of having the ability to disconnect from your business and the kind of system you need to have in place for the company to run without you. She discusses why her book is titled Taking in Strays, and the message she wants to impart to her readers. She explains why a two-week break is necessary for mental health and how she gets clients to remind themselves of their core values. Lisa also shares why always thinking about the business and working long hours will lead to poor business decisions.

"If you're a really good owner, you should barely work at all." - Lisa Harrington

This week on Priorities Lifestyle:

• What the title of Lisa’s book, Taking In Strays, was based on.
• What business owners can learn from her book
• Why trying to be a superhuman business owner can reduce efficiency
• How the pandemic has hurt the ability of people to get rest from work
• Why our brain is wired to be easily preoccupied with work
• Why a two-week break is needed to disconnect from work fully
• Creating a system that allows the company to run without you
• Lisa's techniques on getting business owners to ‘dig deep’ on what their actual values are
• Why integrity can take two directions
• Why you can't separate who you are at home and who you are at work
• How to avoid forgetting your values as a person and as a leader

Our Favorite Quotes:

• "You're not doing better for the business if you're burning yourself out. You're actually going backwards." - Lisa Harrington
• "Business owners are humans too." - Rob Schultz
• "Some of the worst things you can do as a business owner is spend 70 hours at work and thinking about it all the time." - Rob Schultz
• "You know you have good systems when you can take a step out for two weeks or a month and the business is still running well." - Robin Austin

Connect with Lisa Harrington:

• Abiding Strategy
• Lisa Harrington on LinkedIn
• Book: Taking In Strays: Leadership Lessons From Unexpected Places

About Rob Schulz and P&L Podcast

The P&L 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 Facebook

Order Rob’s book, Thoughts on Things Financial, here. 

Subscribe here:

iTunes

Android

Google Play

Stitcher

Spotify

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

Jeff Craig is the former President of Blaylock Gasket & Packing, a third-generation industrial gasket manufacturing company founded in 1983. They produce products like gaskets, extrusions, pads, and mechanical packing using a variety of materials like rubber, foam, non-asbestos paper, fiber, and felt. Serving a wide range of clients in the oil, food, OEM, construction, and agriculture industries, the company has been known as “Your Sealing Source” for high-quality gasketing materials. Currently focused on spending his time with his young grandchildren, the company is now operated by Jeff’s son, Jeffrey, who managed the company through the trials and tribulations of 2020, at the height of the COVID-19 pandemic.

In this episode, Jeff describes the feeling of transitioning a business you’ve grown and managed to your children. He shares the experience he wants his son to have and some of the expectations he knows his son will meet. He discusses the history of the company, how his father groomed him to be a leader, and when he started thinking about retirement. He explains how the company survived the 2008 economic crash and how his son held the company together in 2020. Jeff also shares the projects and trips he’s planning, now that he’s no longer the full-time head of the business.

"As far as transitioning, make sure you got the right person to transition to. If you don't, you're going to run into problems." - Jeff Craig

This week on Priorities Lifestyle:

• How Jeff learned to run a business
• How Jeff's business survived the 2008 recession
• What you need to know before transitioning a family business to your children
• When Jeff planned his retirement and how he wanted to go about it
• Why Jeff is impressed with how his son managed the family business
• Teaching your children employee management skills
• The marketing changes Jeff's son immediately started after inheriting the business
• The effects of the pandemic on the business and how they managed to perform well in spite of it
• Some of the positive effects the pandemic had on them as a family
• The different projects and trips Jeff plans to do with his spare time
• Jeff's tips for those thinking about transition out of their business

Our Favorite Quotes:

• “I don’t think you can transition without taking input from the person that’s going to take it over.” - Jeff Craig
• "In transitioning a business, usually there's a point that a little bit of remorse kicks in." - Rob Schultz
• "Not having a debt load plus having assets allows you to structure a transaction that works." - Rob Schultz

Connect with Jeff Craig:

• Blaylock Gasket & Packing
• LinkedIn
• Email: [email protected]

About Rob Schulz and P&L Podcast

The P&L 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 Facebook

Order Rob’s book, Thoughts on Things Financial, here. 

Subscribe here:

iTunes

Android

Google Play

Stitcher

Spotify

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

Dan Phillips is the Owner and Head Accountant at SIMDA Services Corporation, a family-run accounting and bookkeeping company dedicated to serving clients who want their small businesses to thrive in an ever-changing market climate. He has over 37 years of experience in business operations and financial accounting and held controller and management positions. He founded SIMDA Services Corporation shortly after selling his FASTSIGNS business franchise after 22 years. Dan also enjoys serving in his community, including being a core member of their local school board for over 12 years, participating in the Rotary clubs, and as a member of the Chamber of Commerce. 

In this episode, Dan shares how business owners can successfully sell their company. He describes his journey from working in a corporate office to becoming a business owner and franchisee and what led him to buy a FASTSIGNS franchise. He explains the reasons he sold his franchise and how retirement factored into this decision. He discusses his experience in real estate and what he wishes he knew earlier. Dan also shares the importance of being open-minded as a business owner and how he currently empowers small businesses through his accounting and bookkeeping services.

"You can make plans, but they change as life goes on." - Dan Phillips

This week on Priorities Lifestyle:

• Dan’s journey to becoming a franchisee and  business owner.
• Dan's experience in real estate
• The importance of keeping an open mind as a business owner.
• Why Dan eventually sold his commercial real estate.
• What Dan wishes he had done earlier in his career.
• How Dan’s company helps empower small businesses. 
• What it takes to embrace sudden changes in the market.
• Why Dan's current business is much better for retirement.
• How Dan found success in selling a business.

Our Favorite Quotes:

• "The other business, if anything, has prolonged me needing to touch any of my retirement funds. That’s really what it’s done." - Dan Phillips
• "Real estate becomes a big part of a lot of business owners' lives." - Rob Schultz
• "Surround yourself with people who know what they're doing." - Rob Schultz
• "Plans change and you have to be able to change with it." - Rob Schultz

Connect with Dan Phillips:

• SIMDA Service Corporation
• SIMDA Service Corporation on Facebook
• Email: [email protected]

About Rob Schulz and P&L Podcast

The P&L 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 Facebook

Order Rob’s book, Thoughts on Things Financial, here. 

Subscribe here:

iTunes

Android

Google Play

Stitcher

Spotify

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

Brad Purifoy is an Investment Banking Professional at Corporate Finance Associates Worldwide. He has over 30 years of executive experience in the industry, including Fortune 500 corporate finance and Big 4 public accounting. He is a recognized expert in many transactions such as 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. In 2011-2012, he also served as chapter president and long-time board member of ACG. 

In this episode, Brad joins us to share how he got started in investment banking and what sets Corporate Finance Associates Worldwide apart from the competition. He describes his responsibilities and the challenges of being an investment banker. He explains how business owners can benefit from hiring an investment banker, especially regarding the business risks they can mitigate. He discusses the processes involved in a typical transaction and how long an average transaction takes from the first meeting to the final closing. Brad also shares the common goals of most business owners when they want to sell their company.

“An investment banker does a tremendous amount to help steer the transaction that has all these people involved and keep it in the right direction.” - Brad Purifoy

This week on Priorities Lifestyle:

• How Brad got started in the investment banking industry.
• Brad's definition of Lower-Middle Market.
• Brad's company and what sets them apart from their competition.
• What Brad likes about his work and some of the challenges he encounters.
• The benefits of hiring an investment banker.
• How an investment banker can impart wisdom through their experience with multiple transactions.
• What do business owners want to achieve when selling their businesses?
• How long an average transaction takes from meeting to closing.
• How to gain client confidence through sales and other evidence.
• The different types of buyers a business owner can encounter.

Our Favorite Quotes:

• "There are so many things that occur in the sale of a business."- Brad Purifoy
• "It's hard to have total control over a transaction, but what you're trying to do is to just steer it as all these external factors come into play." - Rob Schultz
• "When you go about selling your business, it's important to look through the eyes of the buyer." - Austin Smith

Connect with Brad Purifoy:

• Corporate Finance Associates Worldwide
• Phone: 214.746.5094
• Email: [email protected]

About Rob Schulz and P&L Podcast

The P&L 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 Facebook

Order Rob’s book, Thoughts on Things Financial, here. 

Subscribe here:

iTunes

Android

Google Play

Stitcher

Spotify

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