Grow Your Business and Grow Your Wealth

❓ How do you harness the power of grit and resilience to turn a life of service into a successful business?

📄In this inspiring episode, we feature Rochelle Hemingway, the CEO and founder of Slay to Success LLC. Rochelle shares her incredible journey, from serving 30 years in the Air Force to launching a successful business. Discover how she found a new purpose, overcame the emotional and mental hurdles of transitioning from military life, and used personal branding to build a thriving company. This episode is a must-listen for anyone navigating major life transitions and seeking actionable advice on leveraging their past experiences to fuel future success.

📌 Key Takeaways:

🌟 Resilience is key: Turning obstacles into opportunities.

💪 From service to self: How military discipline aids entrepreneurship.

🎯 Start small, think big: Building a business starts with a strong foundation.

✨ Personal branding matters: Defining yourself outside of past roles.

🛠️ Skill transfer: Using military skills in business and personal growth.

💬 Quote from the Episode:

“You don’t have to depend on titles or positions to get to the next level—just start.”

🔗 How to Reach Rochelle Hemingway:

🌐 Visit the website: slaytosuccess.com

🤝 Connect on LinkedIn for daily insights and updates.

📺 Watch her talk show on YouTube for more in-depth stories and advice.

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Are you navigating the complexities of government contracts and procurement? Discover key legal strategies and insights from procurement law expert Barry Gogel!

In this episode, host Gary Heldt sits down with Barry Gogel, an attorney at Rifkin Weiner Livingston, LLC, who specializes in government procurement litigation. Barry shares his transition from teaching to law, offering valuable advice for businesses looking to engage in government contracting. He also discusses the importance of a transparent procurement process, bid protests, and the common mistakes businesses make when bidding for government contracts.

Key Takeaways:

• ✅ Understand Bid Protests: If your business is overlooked for a contract, you may have grounds for a protest, especially if there was an objective error in the evaluation process.
• ✅ Request a Debriefing: After a loss, always request a debriefing to understand why your bid was unsuccessful and gather crucial insights for future bids.
• ✅ Be Wary of Ambiguous Solicitations: Ensure that the government’s solicitation is clear and unambiguous. Don’t hesitate to ask questions before submitting your bid.
• ✅ Legal Help is Worth the Investment: While you may save money by drafting contracts yourself, having a legal expert ensures that your business is protected in the long run.
• ✅ Focus on Your Strengths: When bidding on government contracts, target projects that align with your business’s core competencies to increase your chances of winning.

Quote from Barry Gogel:

“An ounce of business attorney is worth 5,000 pounds of litigation attorney.”

How to Reach the Guest:

You can reach Barry Gogel at Rifkin Weiner Livingston, LLC, by calling 410-769-8080 or emailing bgogel@rwllaw.com.

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Are you a business owner struggling to manage overwhelming debt and keep your business afloat? What if there was a way to tackle your financial burdens while protecting your assets?

In this episode, Gary Heldt sits down with Ralph Tommaso, Vice President of Marketing at First Choice Debt Solutions, to explore the intricate world of business debt management. Ralph shares his journey from facing financial ruin to becoming an expert in debt solutions. Together, they discuss actionable strategies for business owners to navigate debt, avoid common mistakes, and protect their assets. If you’re dealing with creditor pressure, merchant cash advances, or considering debt settlement, this episode is a must-listen.

5 Key Takeaways:

🏦 Know Your Numbers: Before diving into debt solutions, it’s crucial to understand your revenue, profit margins, and overall financial situation. Ignorance can lead to deeper financial issues.

⚖️ Debt Settlement Pitfalls: Beware of debt settlement companies that take large fees upfront. Ralph explains why these companies often leave business owners worse off.

🏗️ Merchant Cash Advances: These high-interest loans can quickly spiral out of control. Ralph shares strategies to manage these debts and minimize financial damage.

📉 Don’t Wait Too Long: Business owners tend to be optimistic, but waiting too long to address financial problems can lead to bigger challenges down the road. Act early!

🤝 Find Trusted Help: Navigating debt alone can be overwhelming. Seek advice from reputable experts who can guide you through restructuring and finding the best solutions for your situation.

Conclusion:

Debt doesn’t have to mean the end of your business. With the right approach, including knowing your financials, avoiding predatory debt settlement companies, and acting early, you can find a path to recovery.

Take charge of your business’s future by being proactive in managing your debt and trusting experts like Ralph Tommaso, who can help steer you back on track.

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Are you ready to explore how commercial real estate and intelligent investing strategies can fuel your business growth?

In this episode, Gary Heldt interviews Nic DeAngelo, CEO and Founder of Saint Investment Group, about commercial real estate, investment strategies, and adapting to today’s market. Nic shares his journey, starting in real estate during the Great Recession, and how he developed successful investment strategies despite the odds. Learn how commercial real estate can become a long-term asset and a reliable source of passive income.

✅ Key Takeaways

✔️ Invest Smart: Diversify your investment with a balance of active business and passive income through real estate.

✔️ Right Time, Right Market: Commercial real estate can still offer opportunities despite market fluctuations—know where to focus.

✔️ SBA Financing Advantage: Small business owners should use SBA financing to own their space.

✔️ AI in Real Estate: AI tools are becoming essential in underwriting and evaluating properties.

✔️ Prepare for Long-Term Inflation: The next decade will see higher inflation and interest rates—adjust your strategies accordingly.

💬 Quote from Nic

“Commercial real estate is the tool that allowed me to shift from constant hustle to having passive income and financial freedom.”

How to Reach Nic DeAngelo

For more insights on real estate investment strategies, visit saintinvestment.com/resources to access free reports, videos, and economic data trackers.

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Are you ready to learn how to make smart investment decisions in today’s challenging real estate market?

In this episode of “Grow Your Business & Grow Your Wealth,” host Gary Heldt speaks with Darin Davis, the principal at Club Capital, about navigating the complexities of real estate investing. Darin shares his journey from working in tech sales to becoming a successful investor, providing insights into preferred equity and how it can be a strategic option for new and seasoned investors. He discusses the importance of understanding market data, avoiding emotional investment decisions, and seizing upcoming opportunities in the multifamily sector.

Key Takeaways:

🎯 Understanding the benefits of preferred equity and how it differs from common equity.

📊 Importance of data-driven decisions over emotional investing in real estate.

🏠 Current market conditions create unique opportunities for savvy investors.

💼 The role of multiple income streams in achieving financial stability and growth.

💡 Why asking the right questions is crucial for first-time and experienced investors.

Quote from Darin Davis:

“Education without execution is just entertainment. You’ve got to go feel some pain, execute, and get both feet in.”

How to Reach Darin Davis:

To learn more about Darin Davis and Club Capital, visit clubcapital.co. You can find valuable resources like “Preferred Equity 101” and a list of key questions to ask your sponsor. Feel free to reach out to Darin directly via the contact information on the website.

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🤔 What drives someone to passionately pursue a career in accounting, and how can that passion lead to a leadership role in one of the top accounting firms in New England? 🤔 What drives someone to passionately pursue a career in accounting, and how can that passion lead to a leadership role in one of the top accounting firms in New England?

In this episode, Danny Bullock interviews David Fontes, Managing Principal at Clifton Larson Allen (CLA) for the Rhode Island and New Bedford offices. David shares his career journey from a small accounting firm to leading multiple offices at CLA. He discusses his passion for accounting, his challenges, and how his role allows him to impact his community and clients positively. David emphasizes the importance of community involvement and how his firm prioritizes people and clients to create meaningful opportunities.

Key Takeaways:

💼 Passion for the Profession: David explains how his love for accounting goes beyond numbers, highlighting the importance of building relationships with clients and understanding their businesses.

🚀 Career Growth: Starting in a small firm allowed David to explore different aspects of accounting, which prepared him for a leadership role at a more prominent firm.

🌍 Community Focus: CLA strongly emphasizes community involvement and creating opportunities for employees and clients.

🏢 Managing Multiple Offices: David discusses the complexities of managing offices in different locations and his strategies to maintain a cohesive team.

🔄 Embracing Change: David discusses the importance of adaptability and embracing change, particularly in a profession often perceived as traditional or static.

👨‍👩‍👧‍👦 Balancing Work and Family: Despite his busy schedule, David prioritizes spending time with his family, demonstrating a commitment to work-life balance.

Quote from Guest: “I love being involved. The more clients I can touch, the more people I can connect with. It’s not just about accounting; it’s about building relationships and impacting the community.”

**How to Connect with David: Visit the website: http: https://www.claconnect.com/en/directory/f/fontes-david

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How do successful entrepreneurs transform their corporate experiences into thriving independent ventures? Learn from Sepideh Yeganegi’s insights on the benefits of spin-out ventures!

📖 In this episode, Gary Heldt welcomes Sepideh Yeganegi, an Associate Professor in Strategic Management and co-author of “Spin-Out Ventures.” Sepideh shares her expertise on spin-out ventures, where former employees of established companies leverage their acquired skills and knowledge to create new businesses. She discusses the misconceptions around entrepreneurship, emphasizing that many successful businesses originate from spin-outs rather than garages. Sepideh also provides valuable advice on maintaining a positive relationship with parent firms and highlights the mutual benefits spin-outs offer to both new and parent companies.

🗝️ 5 Key Takeaways:

➡️ Spin-Out Ventures Explained: Spin-outs are businesses founded by former employees of established companies who use their experience, skills, and networks to launch their ventures, often within the same industry.

➡️ Higher Success Rates: Spin-out ventures typically have a higher success rate compared to traditional startups due to the founders’ industry knowledge and experience gained from their parent firms.

➡️Maintaining Positive Relationships: A healthy relationship between the parent firm and the spin-out can lead to mutual benefits, including potential collaborations and knowledge exchange.

➡️ Legal Considerations: Entrepreneurs must be mindful of legal constraints such as non-compete agreements, intellectual property rights, and non-solicitation clauses to avoid conflicts with their former employers.

➡️ Benefits for Parent Firms: Parent firms can benefit from spin-outs by retaining a stake in the new venture, fostering innovation, and potentially acquiring successful spin-outs in the future.

💬 Quote from Sepideh:

“Entrepreneurship isn’t always about starting from scratch; it’s often about leveraging what you’ve learned, building on existing knowledge, and navigating the industry with insights you gain while working within it.”

Purchase the book on Amazon: https://www.amazon.com/Spinout-Ventures-Transitioning-Employees-Entrepreneurs-ebook/dp/B0CSGY85WV?asc_campaign=a70311baf6ca3959a10c6ff1f6d71af2&asc_source=01H1P39M5ZSG9J6WR6B1HBK9M0&tag=namespacebran492-20

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🎧 Have you ever wondered how nearshoring can revolutionize your business operations? Dive into this episode as Brian Samson, founder of Plugg Technologies, unveils the secrets behind tapping into Latin America’s talent pool and the true power of nearshoring.

In this episode, Brian Samson shares his journey from San Francisco tech startups to founding Plugg Technologies, a company focused on connecting US businesses with top talent in Latin America. Brian discusses the nuances of nearshoring versus offshoring, the benefits of working within the same time zone, and why Latin America is a goldmine for skilled engineers and developers. He also delves into the cultural alignment between Latin America and the US, breaking down common misconceptions and highlighting the importance of viewing remote teams as valuable partners rather than just low-cost resources.

Key Takeaways:

💡 Nearshoring offers a strategic advantage with access to top talent in the same time zone.

💡 Cultural alignment with the US makes Latin American developers’ excellent collaborators.

💡 The focus should be on value and labor arbitrage, not just cost-cutting.

💡 Treating remote teams as integral parts of your company fosters better results and relationships.

💡 Major companies like Google and Facebook have already validated the shift towards Latin America.

Quote from Brian: “You’ve got this whole population of hungry, motivated, earnest, enthusiastic, and creative talent in Latin America. They’re critical thinkers with no entitlement, just a desire to do great work.”

How to Reach Brian: You can learn more about nearshoring and connect with Brian Samson through his company, Plugg Technologies, at plug.tech. Remember, that’s Plug with two G’s!

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🎙️Is your business ready for sale, or are you just owning a job? Discover the secrets to making your business genuinely saleable!

📋In this insightful episode of Grow Your Business & Grow Your Wealth, host Gary Heldt sits down with Richard Phillips, the founder and senior partner at Crossroads Capital. Richard shares his unique approach to helping businesses prepare for sale, emphasizing the importance of understanding your company’s value, preparing for diligence, and institutionalizing your operations to make your business more attractive to buyers. Whether you’re a small business owner or looking to scale, this conversation provides valuable insights into business transactions and how to maximize your company’s worth.

🔑 Key Takeaways:

🏢 Institutionalize Your Operations: Richard stresses the importance of making your business turnkey by taking yourself out of the day-to-day operations. A saleable business can operate independently of its owner.

💼 Early Preparation is Key: The earlier you start preparing your business for sale, the better. Engaging with professionals like attorneys and wealth managers before contacting an investment banker can set the foundation for a successful sale.

💰 Understand Your Business’s Value: It is crucial to know what your business is worth and what the buyer pool looks like. This understanding will guide the process, whether a negotiated transaction or a broader auction.

💡 Blurring the Lines in the Market: Richard discusses the evolving landscape where the lines between strategic and financial buyers are becoming increasingly blurred, impacting how deals are structured and executed.

🏦 Impact of Interest Rates on Deals: While rising interest rates have an impact, they have not significantly reduced valuations. Instead, deals are taking longer, with less cash involved and more deferred or contingent considerations.

💬 Quote from Richard Phillips:

“I’ve never met a business owner who thought his company was worth less than what we came up with.”

📧 How to Reach Richard Phillips:

LinkedIn: https://www.linkedin.com/in/richardpphillips/

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❓ :How can small businesses effectively address diversity gaps in their recruiting process?

📝 In this insightful episode, Gary Heldt interviews Pamela McElvane, the founder and CEO of Diversity MBA Media, about the challenges and opportunities small businesses face in creating diverse and inclusive work environments. Pamela shares her journey from corporate America to entrepreneurship and provides practical advice for small business owners looking to diversify their workforce. She emphasizes the importance of intentionality in hiring practices, leveraging resources, and the role of leadership in fostering diversity. Pamela also discusses her latest projects, including her books and thought leadership in the diversity and inclusion space.

✅ Key Takeaways:

Intentionality is Key: To diversify your workforce, businesses must be deliberate in their recruiting strategies, ensuring they go beyond their immediate circles.

Leverage Resources: Small businesses should use industry conferences, online tools, and professional associations to find diverse talent.

Measure Success: Implement key performance indicators (KPIs) to assess the effectiveness of your recruitment and talent management processes.

Ask for Help: To enhance your diversity efforts, don’t be afraid to seek guidance from larger organizations or industry experts.

💬 Quotes:

“To be sustainable, you have to be relevant, and that means adapting to the changing marketplace.”

“Entrepreneurs need to be passionate about what they do but also be willing to learn and adjust.”

“Failure is not an option; it’s about failing forward and learning from each attempt.”

📬 Connect with Pamela McElvane:

Website: diversitymbamagazine.com

Email: Pam@diversitymbamagazine.com

Tune in next week for more insights on growing your business and wealth with Gary Heldt!

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