Angels, Exits, & Acquisitions

About Michelle Seiler Tucker

In this week’s episode of the Angels, Exits, & Acquisitions podcast Jeff Barnes is joined by Michelle Seiler Tucker. She is the foremost authority on buying, selling, and improving businesses. A certified Merger & Acquisition Master Intermediary (M&AMI), one of only 3 women in the US, she closes 99% of all the offers she writes and specializes in selling businesses worth $2 million and above. She helps businesses improve their revenue streams and get ready for selling at the best value. With her expert counsel, businesses are able to sell for 20-40% above appraised price on average. With over 20 years of experience helping businesses through the process of selling and buying she is known for her always exceeding client expectations. She is the author of two best bestselling books including Exit Rich, and Sell Your Business for More Than It’s Worth. Through her work, she inspires people to live the American dream and strive towards greater financial freedom and quality of life. 

Michelle shares the 6 Ps of growing and selling your business

1. People 

The most important thing for a business is people, the teams that understand the business

1. Product

Businesses must continue to innovate and market their product.

1. Processes

Processes must be productive, efficient, and well documented.

1. Proprietary

Businesses must build their brand name. 

1. Patrons

Businesses need a loyal customer base that trusts their product or services.

1. Profits

Businesses need to be operating at the highest profit margin for their industry.

Michelle Seiler Tucker describes the 5 types of buyers

2. Competitive/ Strategic buyers
4. Private Equity groups
6. Sophisticated buyers
8. First time buyers
10. Turnaround specialists

The number 1 mistake that businesses or sellers make

They don’t plan for the exit. Most sellers never think about selling until they have to. When they wait too long to sell, they are forced to sell at low value because their business is declining. 

Find out more about Michelle Seiler Tucker here

https://www.seilertucker.com/

https://info.exitrichbook.com/book/

https://www.linkedin.com/in/michelleseiler

https://www.youtube.com/channel/UCLPWqoz-CaFrBdMWrDyN-5g

or call at 504-525-1717

Learn more about your ad choices. Visit megaphone.fm/adchoices

About our guest Craig Shah

This week’s guest Craig Shah is a celebrity designer of high-end luxury watches and jewelry under the brand name Craig Shelly. His designs are uniquely crafted and customized. 

He started with a small company crafting platinum and 18 karat diamond rings and other jewelry. Venturing into the world of watchmaking in the year 2000, the company slowly made a name for itself. Today the company has a presence in eight countries and ships to 29 countries around the world. 

He partners with many organizations, with official time partners including Harvard versus Yale, right from the eyes of cricket, all-stars Beverly Hills police, IFA PGA and trans Hospital for Children.

He’s committed to giving back to society. He partners with many organizations supporting children and veterans. Hope to break the cycle of poverty, each watch purchased supports one child, with food and education for one year. 

Craig Shelly’s secret to success

Craig Shelly’s designer watches and jewelry are competing with top brands like Rolex, Tiffany, and Cartier etc. But Craig says it took him a long time to get here. 

What helped Craig Shelly reach this level of success?

• Commitment to creativity and excellence
• Making the Craig Shelly products truly unique filled a gap in the market
• Producing durable products with a lifetime warranty
• Corporate gifting program
• Customizing watches and jewelry for brands

Craig Shah’s advice to entrepreneurs and investors

“If you have talent, put it out there. If you have money, meet the right people to level up.” – Craig Shah

Find out more about Craig Shelly

You can find more information on Craig’s company here. 

https://www.craigshelly.com/

https://craigshah.com/

https://www.linkedin.com/in/craig-shah-65533549 

Learn more about your ad choices. Visit megaphone.fm/adchoices

Introducing Cohost ERock Christopher

This week we’re pleased to announce that our podcast has a new cohost ERock Christopher!

Eric Christopher, also known as ERock, is a successful marketing strategist and business consultant. He is the founder and CEO of Biz Famous Media Group, which is a business advisory group designed to promote large brands and enterprises. Erock is an accomplished writer, business strategist, inventor, and an award-winning speaker. He’s a featured contributor on Entrepreneur.com, Business.com, Thrive Global, and Huffington Post among other major media outlets. He’s been a successful entrepreneur for over two decades and has mentored thousands of entrepreneurs on how to run successful businesses. 

About this week’s guest: James Dentley

James Dentley is a professional speaker, trainer, author, entrepreneur, and business strategist to many notable business celebrities. He’s been a successful entrepreneur for over 30 years helping over 400,000 people throughout the world learn what it takes to become high performers in their business and their personal lives. He has personally helped create over 80 millionaires using proven success strategies. Furthermore, James has also consulted many companies in the areas of trading profitability, communication, and leadership development. Author of “The 5 Frequencies of High Performance”, James is a motivational speaker inspiring thousands of people to live and lead better. James believes in the power of effective communication and founded the #1 communication training platform Inspired2Speak. 

Key ingredients in the recipe for success

James Dentley believes the key ingredients for success include:

• Having a vision
• Clarity about what you want
• Persistence
• Being prepared for challenges
• Perseverance

Advice for Business Owners 

• Communication 
• Being adaptable to a shifting culture
• Believing in yourself
• Endurance and understanding that adversity comes to serve you
• Focusing on where you want to get instead of worrying about where you are.
• Spending time with people who uplift you and reading books to inspire you.
• Never giving up and continuing to grow gives other people permission to grow too.
• Staying prepared and sharpening your axe
• Never stop and think you’ve got it all.

Tips for entrepreneurs to communicate their vision

“Never let what you want to say get in the way of what they need to hear.” –James Dentley

1. Be clear and concise: “Don’t give a person a drink of water with a firehose.”
2. Identify your core values, which will determine the energy that you create for your business.
3. Ask the right questions. Don’t try to figure everything by yourself. Find resources and people who can help.

The favorite mistake that you learned the most from?

James’s experience with depression taught him valuable life lessons. He says his greatest mistake was beating himself up and not taking care of himself. He believes that becoming an alcoholic and giving up everything that he had achieved actually helped him get back up again and find a greater appreciation for life. It helped him build programs to help other people overcome self-defeating behaviors and breakthrough challenges. His experience taught him humility and love for himself and other people. 

Find out more about James Dentley here

• https://www.thejamesdentleyshow.com/
• http://nbcuniversity.com/
• https://businessaccelerator2020.com/
• https://jamesdentley.com/
• https://www.linkedin.com/in/james-dentley-20400616

Learn more about your ad choices. Visit megaphone.fm/adchoices

About our guest Jeffrey Hayzlett

Jeffrey Hayzlett is a leading business expert, bestselling author, primetime television and podcast show host, and keynote speaker with notable expertise in starting, running, and selling businesses. He is the CEO of C-suite Network and the Hayzlett group in addition to being a board member, trustee, and chairman for numerous other companies. He runs several different councils and media companies and has previously been the CMO of Kodak. He has bought and sold over 250 businesses for billions of dollars. 

A global business celebrity, Jeffrey Hayzlett has been featured on leading television networks and magazines. He was the host of the Bloomberg series C-suite with Jeffery Hayzlett which featured an inside look at several big companies and also appeared as a guest judge on NBC’s Celebrity Apprentice. He has also partnered with our host Jeff Barnes on Angels and Heroes Venture Growth Fund. 

He hosts the business podcast All Business with Jeffrey Hayzlett on C-Suite Radio where he shares his executive insight and commentary. His bestselling books include The Mirror Test, Running the Gauntlet, Think Big, Act Bigger, and The Hero Factor: How Great Leaders Transform Organizations and Create Winning Cultures. 

Advice for Businesses looking to grow through acquisition 

Jeff believes that business owners must first think about and answer some important questions before embarking on an acquisition strategy and even before starting a business. The key questions should be: 

• What are your conditions of satisfaction as a business? 
• What are you trying to drive? What are you trying to achieve?
• What might be the scenarios for the business itself? Determine the right fit based on your access, resources, knowledge, etc.
• Do we have some people to do it? Is there a good partner? Is their partner willing to do it with us or not?
• Does this make sense? Or not? Do we want to do it this way or that way? 

Tips for Investors

• Develop a sound strategy
• Build a trusted network
• Develop a team of value-driven people
• Think about your conditions of satisfaction

What to look for as an investor

• The track record for the company
• Sales and market strategy
• Thoroughness about researching the target market and industry requirements
• See if the team is realistic and transparent 
• Ask lots of questions to get to know the people behind the company.

Insights from the book the Hero Factor

At the C-suite network, Jeffrey Hayzlett has formed the Hero Club, a value-based organization for CEOs. If a business has greater core values, they have the ‘hero factor’, which puts them ahead of others. These values include integrity, diversity, inclusion, and putting people over profits. They have certain walkaway values that they do not compromise on.  As a result Hero businesses get more revenue, happier employees, engaged customers, eager vendors, and respect from communities. 

Advice for first time angel investors

• Focus on possibilities instead of risks.
• Trust experienced groups or networks to mitigate risks.
• Investor networks have the right resources and experience and carry out due diligence to sort through opportunities. 

Biggest mistake

Jeff says that he once invested in pheasant farming which led to disastrous results. The lesson he learned was that it’s important to do your homework whenever you invest. He does not believe in the advice “follow your passion”. Passion helps to develop your interest. After that follow your head and pay attention. 

Find out more about Jeff Hayzlett here

http://hayzlett.com/

https://www.linkedin.com/in/hayzlett

Learn more about your ad choices. Visit megaphone.fm/adchoices

On today’s episode, Cliff Locks speaks with Scot Hunsaker of Ardent Group about important aspects to consider when preparing to sell your business.

Scot Hunsaker purchased a small engineering firm operating as a sole proprietorship from his father. That firm, Counsilman-Hunsaker, has designed aquatic facilities, including Olympic venues, all over the world. During his tenure as CEO and owner (and as a non-engineer running an engineering company) , he grew Counsilman-Hunsaker’s revenue by a factor of 10, quadrupled the number of employees, opened 4 new offices in the US and went from being licensed to operate in 10 states to operating in all 50 plus 3 Canadian provinces.

He sold Counsilman Hunsaker to the employees for cash in 2012. He has spoken on the topic of ownership transition and ownership thinking across the US and internationally. He is also the author of 30 published articles. He also serves on several boards of directors. In 2013, he formed Ardent Consulting whose mission is to help CEOs and Business owners prepare for their ultimate transition with a particular focus of teaching employees how to think like owners.

Scott is the author of Heroic Ownership.

Visit http://www.ardentgroup.com/heroic-ownership/ for more information

Learn more about your ad choices. Visit megaphone.fm/adchoices

Laura Rubinstein speaks with Andrew Knies of Prime Real Estate about what they do to coach, train, and motivate their clients to allow them to make the most of their real estate business.

Andrew Knies’ passion for marketing strategies, developing digital content, and strong sales skills has allowed him to thrive in the Real Estate industry.

Andrew is the Marketing Director of Prime Real Estate where he develops and implements a bold brand strategy. By organizing his team, they have successfully told their brand story through cohesive marketing that includes, hosting large conferences, social media campaigns, developing a brand magazine, speaking engagements, and PR.

Additionally, he is a licensed real estate agent and teaches newly licensed agents how to market their new businesses and take advantage of today’s tools.

Learn more about your ad choices. Visit megaphone.fm/adchoices

On today’s episode, I speak with Alexander Lowry, professor of finance at Gordon College in Wenham, Mass. and also the Director for the school’s Master of Science in Financial Analysis program. Alexander talks about how to go about selecting the right employees to build a company that will rise above the competition. He also talks about the Financial Analysis Master’s program that he teaches that is a great alternative to the traditional MBA.

Alexander Lowry is a seasoned executive with over 15 years of experience in financial services and strategy consulting, assisting private and public sector companies across North America and Europe.

Alexander joined Gordon from J.P. Morgan Chase. In four and a half years at the bank, he served in senior roles ranging from deputy to the chief operating officer of the U.S. Private Bank to his recent role helping lead the firm’s private foundation. Supporting the deputy director, Alexander led a wide range of management and administrative functions to help direct the firm’s global philanthropic investments, giving and investing $240 million annually across 40 countries.

Prior to joining J.P. Morgan Chase, Alexander spent a dozen years with PA Consulting Group, Europe’s leading management consultancy. As a management consultant, Alexander specialized in leading major change and business transformation programs in blue chip organizations. After working in the London headquarters for seven years, Alexander was moved to New York and became co-head of the Americas Project Management Centre of Excellence.

While at PA Consulting, Alexander served on the firm’s pension board. He guided the Investment Committee to manage the $750 million portfolio, including evaluating, selecting and monitoring investment managers. Alexander directed a review of governance arrangements which resulted in the decision to become the first U.K.-defined benefit plan to appoint a fiduciary manager. He then oversaw the selection, appointment and implementation of BlackRock.

In addition to his executive career, Alexander has been continually engaged with Haverford. In addition to co-founding the College’s finance affinity group, he served for nine years on the Annual Fund Executive Committee, including as chair.

His writings and thoughts have appeared in Forbes, NBC News, U.S. News and World Report, Glassdoor, and other publications.

Find more about Andrew at: www.linkedin.com/in/alexanderlowry

Tweets by AlexanderSLowry

http://www.gordon.edu/alexanderlowry

http://www.gordon.edu/graduate/finance

Tweets by GordonMSFA

http://www.linkedin.com/showcase/gordon-college-master-of-science-in-financial-analysis/

Learn more about your ad choices. Visit megaphone.fm/adchoices

On this week’s episode, Laura speaks with Mike Harris of Patina Solutions about entrepreneurship, venture capital, and building your business.

A proven and prolific entrepreneur, Mike has significant experience in starting and building professional and technical services firms. Patina Solutions is his sixth professional services start-up since 1995. Mike is best known as the founder and former CEO of Jefferson Wells, which grew to $132 million in sales with 23 offices and 1,600 employees in five years. Jefferson Wells was acquired by Manpower for $174 million in 2001. Inc. magazine ranked Jefferson Wells as number five of the 500 fastest-growing private companies in America in 2001.

Since Jefferson Wells, Mike has founded firms including the Novo Group and Adams Harris. He is currently a Board member for Novo Group, Tax Air and Bentley World Packaging.

Mike is a frequent speaker on topics ranging from entrepreneurial endeavors to transitioning from CFO to CEO. Earlier in his career, Mike was CFO for Alternative Resources Corporation and Wind Point Partners. A CPA, he has a bachelor’s degree in accounting from University of Wisconsin – Parkside.

http://www.patinasolutions.com/

Learn more about your ad choices. Visit megaphone.fm/adchoices

On today’s show I talk to Matt DiMauro, Vice President of Sales & Marketing at Fyzical. Matt tells us about how he has grown the Fyzical franchise, and how he targets underserved markets, increases the value of service, and keeps clients and business owners happy.

Matt DiMauro does nothing slowly. He talks fast, moves quickly and is a get-things-done

rising star at one of the fastest-growing businesses in the region, Sarasota-based Fyzical.

More speed: On the question of does he lunch out or at his desk DiMauro replied: “Eating out during the week can be rather time consuming, so I typically eat lunch quickly at my desk unless I have a business luncheon scheduled.”

Fyzical, which is building a nationwide network of franchised physical therapy centers under one brand, grew revenue 70.2% last year, from $4.7 million in 2015 to $8 million. The company has grown from one location in 2013 to 260 today, and it ranked No. 156 on the 2017 Inc. 500 list of the fastest-growing companies nationwide.

An Akron, Ohio native, DiMauro proved himself early on with Fyzical, when he took over what was then a faltering two-location Fyzical physical therapy business in Fort Myers in 2014. Revenues had been falling there for three straight years. But under DiMauro the business shifted and went from $680,000 in revenue to more than $4 million in three years.

DiMauro says he keenly focused on getting more productivity out of physical therapists, and also instituted more efficiencies on scheduling and other non-medical parts of the business. He says one key move was to put proven theories into actual practice — not just talk about it.

A challenge early on: DiMauro supervised people both considerably older, and in a field, health care, he knew little about. The changes in the way they did business, says DiMauro, wasn’t an easy sell, at first. But the success and growth won people over. “I went to school to fix businesses,” he says, “while they went to school to help heal people.”

https://www.fyzical.com/

Learn more about your ad choices. Visit megaphone.fm/adchoices

On today’s show, Laura talks to Brian Smith, founder of UGG Imports about how he grew UGG into a successful business and the valuable lessons he learned along the way.

Brian is Australian born and was raised with an enduring passion for surfing and the surf culture. In his youth, he enjoyed the epic waves on both coasts of his home country. He was educated at the Institute of Chartered Accountants Australia, where he received his first of many business credentials.

After ten years as a public accountant, Brian felt a burning desire to do something that would fit his passion for surfing while looking for a business idea that would allow him to support himself. He turned in his resignation notice, got on a plane to the States, and became a regular at the classic surfing destinations up and down the southern California coastline. He called Malibu, Cardiff-by-the-Sea, and Swami’s Beach his “office.”

One day, while pulling on his sheepskin boots after a cold surf session, he realized there were nothing like them available in California. He and a surfing buddy shipped six pairs from Australia to show them around, in search of interested takers. It was at this moment that the UGG brand was born.

Brian called on every surf shop up and down the California coast, enthusiastically showing prospective retailers the UGG prototype. Most of the shop owners would deliver the same disappointing reaction: “Brian, we sell flip flops, not boots.” Not willing to give up his idea, he then embarked on a laser-focused effort to gain endorsements and support from the surf community of which he was becoming a respected member. Finally, with two young Pro-surfers on “the UGG team”, a new cult was born and “UGG” became the cool word on California campuses and beaches alike.

Had he not diligently stuck to his vision, the idea of UGG Boots would never have come to fruition. Undaunted by the surf shop owners’ initial rejections, Brian forged forward with his dream and we all now enjoy our much loved and favorite casual footwear—our UGG boots.

After 17 years, Brian sold his company and the brand to Decker’s Outdoor Corporation. With their resources, the “casual comfort” segment of the footwear industry came to life and the UGG Brand now garners more than a billion dollars of sales per year, year after year.

Having developed the art of storytelling throughout the years, the stage became the perfect place for Brian to present to business owners the ups—and downs—of being an entrepreneur. He found that he not only enjoyed giving these talks, but his audiences were responding in wide embrace to his stories like he never could have imagined. The size and scope of the audiences grew and now he is one of the most sought-after speakers in the world today. He brings a magical mix of real world street smarts, kindness, compassion and respect for the entrepreneurial drive—all of which fits business of any size. And, yes, he still continues to surf when he’s not on tour.

To book Brian Smith, please contact Kelly at (717) 781-0838 or Kelly@UGGfounder.com.

Brian can be reached at Brian@UGGfounder.com.

Learn more about your ad choices. Visit megaphone.fm/adchoices