Exit Coach Radio

Host: Buck Blanton. Audio library: www.ExitCoachRadio.com.  John Howard discusses retirement plans, choosing audits, and how you can determine which process is right for your business. New content daily - tune in on iTunes! Transcript:  John: Typically, in these retirement plans, when you exceed 120 participants, then that first year when you receive 120, you are subject to an audit. You are considered a large plan at that point under the Department of Labor and the IRS standards, and you need to submit an audit. Now, the problem is the next step: Once you determine you need audit, is what type of audit, because there are different audits with retirement plans. There's what we call a limited scope audit, which and auditor does not need to do as much work as with a full scope audit, and the difference with those would be, if the plan assets are held by a financial institution such as a bank or an insurance company, they can certify that the plan assets are what they are, the transactions have been post

Here's a past highlight from one of our Guests. Find their full interview at www.ExitCoachRadio.com -- just click "Audio Library" in the "LISTEN" section and enter their name to hear all of their past interviews! John Foley and David Shaffer discuss the benefits of preparing for due diligence early.   Transcript:  Bill: How can you be prepared for what your buyer’s are going to be looking for? Here’s expert John Foley. John: What we usually share with a client is that if they are looking for an exit-strategy, particularly looking towards an investment firm, they’re gonna have to demonstrate not only a future revenue projection, but also historical performance. So, if we’re in a start-up mode, it’s not realistic to expect that someone’s gonna jump in like Google and buy you on day one. You really need to have that 3 to 5 year history behind you. So, for us, it’s saying, start at any time, the earlier the better, and based on where you are in your life cycle, let’s determine what the appropriate target exit is,

Here's a past highlight from one of our Guests. Find their full interview at www.ExitCoachRadio.com -- just click "Audio Library" in the "LISTEN" section and enter their name to hear all of their past interviews! To hear more tips from over 750 Advisors, visit exitcoachradio.com Listeners: You asked, so we found FREE solutions for 5 of your top problem areas. Text “TOOLBELT” to 44222 or click here

David Humphrey discusses the value of a business and the importance of viewing your business from a buyer's standpoint.  To hear more tips from over 750 Advisors, visit exitcoachradio.com Listeners: You asked, so we found FREE solutions for 5 of your top problem areas. Text “TOOLBELT” to 44222 or click here

Adam Grant of Alpert, Barr & Grant heads up the Mobile App Practice Group. He offers tips for getting in sync with current mobile technology trends. See the Index for more on this Topic or by this Guest. Listen on iTunes: iTunes.ExitcoachRadio.com  Listeners: You asked, so we found FREE solutions for 5 of your top problem areas. Text “TOOLBELT” to 44222 or click here

We add new content daily! Listen on iTunes: iTunes.ExitcoachRadio.com. See the Index for more on this Topic or by this Guest. Transcript:  Steve: What are some of the tips and strategies and precautions that you give business owners if they're starting to look at business insurance? Greg: You go for a second opinion. And I wouldn't get that second opinion from some person that sold through the policy. That, to me, would not be a second opinion. And I'd also have the work done from a firm that's not a captive firm, inside a single life insurance company. So, captive agents are, shall we say, encouraged by their parent companies to keep coverages on the books. And, I'd also ask the auditor what they're gonna do for you if you have someone offer to do a policy audit. Make sure they're just not going to try to find you a replacing carrier under the disguise of a policy review.  To hear more tips from over 750 Advisors, visit exitcoachradio.com Listeners: You asked, so we found FREE solutions for 5 of

Host: Bill Black Audio Library: www.ExitCoachRadio.com  John Wendall Adams discusses betrayal, reactions, and how forgiveness is the only way to true progress.  Transcript:  John: What happens when a person is really betrayed, typically there are three different responses: one is, "you know what, they did something to me, so I'm going to retaliate. Whatever's important to them, family, friends, their love relationships, possessions, etc., I'm gonna come against all of that." The other response would be, to say, "you know what, that doesn't really hurt me, and as a result, I'm gonna shut down that portion of my life and I'm not gonna allow anyone ever again to get that close to me." The third one is to really forgive yourselves, forget the other person and really think about what it is that you could have done differently, and really start to move toward that direction to say, "hey, you know what, I can't change what transpired, but what I can do is choose to rise above it."  To hear more tips from o

Host: Buck Blanton. Audio library: www.ExitCoachRadio.com.  Amin Rajan discusses investment options, market power, and how it pays to hold on to your stocks.  Transcript:  Amin: In today's market, it does pay to be opportunistic where you really see good buying opportunities, but that, as I said, only happens at the age of the portfolio. 80 - 85% should really be invested in medium term assets, because although risk premium is not so stable as it was in the past, it does materialize in the long-term. Markets do retain their self-healing power. We don't know how long it takes, but I reckon that within 5 years, we can see the results. Now, if you look at what happened after 2008, the massacre that we had in the market, since then markets have been up 300%, it showed that markets do have self-healing power, and that's not only just in the United States. In other countries, as well, markets have been sharply up since the last low point in March 2009. So, it pays to hang on to your stocks, it pays to have v

Here's a 1-minute preview of today's featured Guest. Give it a listen and share it with your friends, and if you like the content be sure and listen to the full 20-minute interview! Listeners: You asked, so we found FREE solutions for 5 of your top problem areas. Text “TOOLBELT” to 44222 or click here

Marnie has been a restaurant and retail store owner and the online mentor to over 14,000 leaders from over 30 countries. She also has authored 12 "How To" books, and in this episode she shares tips of how you can do it all and still have time for yourself! And be sure and get the free e-Book "Business Continuity: 5 Steps to Protect your Family", a True Story of a business planning tragedy and steps you can take so your Family does not become the Victim of an Unplanned Business. To Download it FREE  Click Here Listeners: You asked, so we found FREE solutions for 5 of your top problem areas. Text “TOOLBELT” to 44222 or click here      

Host: Bill Black  Audio Library: www.ExitCoachRadio.com KC Victor discusses various methods you can use to differentiate you and your business from the rest of the herd.   To hear more tips from over 750 Advisors, visit exitcoachradio.com Listeners: You asked, so we found FREE solutions for 5 of your top problem areas. Text “TOOLBELT” to 44222 or click here

Andrew works with Financial Planners and Advisors, CPAs, Trust Attorneys and Realtors to strengthen and lengthen retirement planning. Questions Answered:  1. What customers worry about versus what they should worry about? 2. How important is liquidity to retirement?  3. What are some red flags when discussing reverse mortgages? Contact Info:  Website: www.effectiveretirement.com Email: socalreverse@gmail.com Bonus Material:  No obligation discussion whether reverse mortgage will help you, or your clients, reach your retirement goals. Free second look for clients already considering reverse mortgage. To hear more tips from over 750 Advisors, visit exitcoachradio.com Listeners: You asked, so we found FREE solutions for 5 of your top problem areas. Text “TOOLBELT” to 44222 or click here

Here's a 1 minute preview of today's featured Guest. Give it a listen and share it with your friends, and if you like the content be sure and listen to the full 20 minute interview! Transcript:    Bill: How can senior management keep employees focused on the strategic goals of the company? We asked expert Christine Miles.   Christine: I think, sometimes the senior leadership is very clear, but they have a whole organization to move to those initiatives, and people have shifting priorities all day long. And so, how do they keep them on top of those initiatives while dealing with their fast paced world and and what they're bombarded with? Does everybody understand why we're doing this and what we're trying to accomplish, and then are we all going about that in a similar way? And so the alignment around that, hence the Art of the Nudge, of our framework that we've developed, is really the engine that drives the car. And so, understanding the story, telling the story and developing that story so that people are

Here's a past highlight from one of our Guests. Find their full interview at www.ExitCoachRadio.com -- just click "Audio Library" in the "LISTEN" section and enter their name to hear all of their past interviews! Your friends who are business owners or self-employed NEED this information! Please share it with them by clicking on SHARE below! Listeners: You asked, so we found FREE solutions for 5 of your top problem areas. Text “TOOLBELT” to 44222 or click here

We add new content daily! Listen on iTunes: iTunes.ExitcoachRadio.com. See the Index for more on this Topic or by this Guest. New content daily - check back often! Transcript:  Miriam: So often, people have internalized their plans for retirement for so many years. It's so much a part of them, they don't feel like they need to talk to anybody about it, and even if they're sharing that retirement with another person, they just assume that the other person is on the same page, and that's where all the trouble begins. People haven't talked about it, they think that retirement is just this reward for a lifetime of work, and they haven't sat down to say, "well now that I have it, how am I gonna make this important? How am I gonna make this what I want? How am I going to enjoy these years?" Now people are retiring and they might have 30 years of good health, good mental health, and they don't know what to do with it, and they haven't really thought about it. To hear more tips from over 750 Advisors, visit

We add new content daily! Listen on iTunes: iTunes.ExitcoachRadio.com. See the Index for more on this Topic or by this Guest.   Transcript:    Kim: Women have a stronger tendency to go into a service based business than a product based business. The reason for that is because it usually doesn't require much, and start up cost to start a service based business, obviously, if I want to teach piano lessons, I could just pass out flyers, you know $10 at Kinko's, and voila, I have two clients. But the problem with that is, it's not scalable on training time per dollars, I can't grow that business beyond my own time. So, the solution to that is, either go to a product based business, which will require more start up cost, obviously if I'm going to manufacture pianos, I'm going to have to get a big loan or get an investment, and then I can scale that business as much as I want to scale it. Or, if you have a service based business like I do, be willing to scale it, and that means be willing to understand that you are

Host: Bill Black.  Minda Wilson discusses health care legislation and its effects on small businesses and their employees.  Transcript:  Bill: There are some health care penalties coming up for 2015, what will they be and how will they effect small businesses? Minda: Starting after the first of the year, if you have more than 50 full time equivalent employees, 50 or more, you're going to have to offer insurance to your employees. And the thing that most small businesses don't realize is that that means full time equivalent is calculated by adding up all the hours that your part time people work. And generally I advise people if you're 49, 48, you probably still should look into providing insurance because they do count overtime.  Audio library: www.ExitCoachRadio.com. Be Sure to Visit Our Advisor List! To hear more tips from over 750 Advisors, visit exitcoachradio.com Listeners: You asked, so we found FREE solutions for 5 of your top problem areas. Text “TOOLBELT” to 44222 or click here

Host: Bill Black Audio Library: www.ExitCoachRadio.com Chris Hill discusses decisions that have to be made after the worst happens, and how you make the difficult process easier.    Transcript:    Chris: When somebody passes, there are about 150 decisions that need to be made within a 24 to 48 hour period, and there is no guide, there is no funeral director that takes you through all this stuff. There are so many things surrounding that, I don't even have enough time in an hour to tell you what they are. But, you have all these decisions to make, and at the same time, you've lost your spouse. And think about this, you've lost two things, you've lost their companionship and their income. Now, by companionship, I mean everything you did in your life, you did with that person, every decision you made. Now, you're own your own, and you've got a decision to make where you don't know what they wanted, how they wanted it, they're not with you to help guide you.  To hear more tips from over 750 Advisors, visit exit

Here's a past highlight from one of our Guests. Find their full interview at www.ExitCoachRadio.com -- just click "Audio Library" in the "LISTEN" section and enter their name to hear all of their past interviews! Transcript:  Larry: Purchasing insurance: so often that a CEO of an organization or the CFO of an organization, the biggest mistake they make is they go ahead and they focus on the cost of it. So that, kind of going back to what's the process? You know, first you're doing an organizational analysis or operational analysis, then you do a coverage analysis of the current programs, and then the third step is to write an insurance spec. Okay, so that's spelling out what insurance that we need and how it needs to be structured, and then going out to market and getting quotes based on that. Limits of insurance mean absolutely nothing, what's critical is the details that are within those policies. So if you have an insurance spec of what everything is supposed to be covered, how it's supposed to be covered

Here's a 1 minute highlight from an interview with one of our Guests. Find their full interview at www.ExitCoachRadio.com -- just click "Audio Library" in the "LISTEN" section and enter their name to sell all of their interviews! Transcript:  Gail: You know, if you document your procedures before selling your company, or before a key employee leaves, the documentation ensures that employees follow best practices no matter who does the tasks. If you do it right it provides that detailed step-by-step of how and why a task is performed. The other thing we like a company to do, is we know that the big picture is easy to see if you have process work flows. You can spot inefficiencies and areas that need improvement immediately. I recommend that all private companies should create workflows of their processes, their procedures, and their tasks. I also mentioned we do some consulting, and since we are spending time with our clients to learn that inner working of the company, we're gonna offer you a fresh persp