Archive - Raising Capital, Funding Your Business, Preparing To Sell With Josh Holley

Archive - Raising Capital, Funding Your Business, Preparing To Sell With Josh Holley

In today’s episode, Nick sits down with friend and Bryker and Co founder, Josh Holley to discuss raising capital and selling your business.

The episode begins with Nick and Josh discussing how they met. They were training for a marathon together and Nick says that he learned a lot from training with Josh. A big part of Josh’s training was about learning restraint in his workouts and that was a big takeaway for Nick. When they started training together, Nick says Josh taught him a lot about business as well. Josh began his role in finance in the beginning of the recession in a restructuring firm. He thought he’d only be in the role for a couple years before transitioning back to a traditional finance role, however he stayed for seven years. He credits this time with accelerating learning and leading him to his current work of building finance and accounting into businesses.

Even before you get into raising money Josh says you need to understand the cash needs of your business. Nick agrees, citing a personal story of his own business needs as an example. More than fifty percent of the time, even in well established businesses, leaders are looking at the bank account as the measure of health and success when financial statements tell a different story. Josh stresses the importance of accrual accounting, whether you’re trying to better understand the business, raise capital, or sell the business. Nick and Josh both agree that there are a lot of parallels between marathon running and business building because both require pacing and endurance.

In the early days of growing your business, you may have small bank loans, but a large part of your revenue will come from friends and family. For these types of investments, Josh recommends a Safe Agreement. This will allow those close to you to invest in your business now and not discuss valuation until you get more traditional investors. Later, when you feel like your back is against the wall, this isn’t the time to raise equity, Josh says you should be looking to get creative and work with vendors and others to save money. Nick agrees, and adds that this is why relationship building is important to him and his business.

For business owners, Nick and Josh recommend an accountant as one of your first hires. This will allow you to move to building the business not being stuck in the business. As you prepare to sell your business, there are a few things that will help you seem more desirable to buyers. This will be things like practicing accrual accounting, tracking sales tax and one time expenses, as well as implementing a board. If you don’t have these things in place there may be doubt in investors or buyers minds. Having all this in place can help you avoid earn out at closing. These things are an expense, certainly, but Nick and Josh say you’ll earn it back with investment or buy out.

As the episode ends, Josh reminds listeners that when selling your business you have to keep the buyer in mind, and Nick stresses the importance of looking to the future rather than getting bogged down in the present.

Timestamps:

0:00- Nick introduces the episode and today’s guest, Josh Holley.

3:14 - How Nick and Josh met.

8:11- Josh shares how he came to investment banking.

13:47 - Common business problems Josh sees in his work.

22:08 - Josh discusses how to better understand your business.

36:56 - Safe Agreement

48:34 - The importance of accounting

1:03:14 - How to get ready to sell your business.

Links:

Follow Josh Holley.

Learn more about Nick Bare on his

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105: Building the Brand: Part 6 "The Storytelling Machine"

105: Building the Brand: Part 6 "The Storytelling Machine"

In Part 6 of the series, I take time and recount the journey of BPN from April 2019 to summer of 2022, highlighting our move to a second warehouse, the introduction of the hybrid athlete, and the explosive growth during the COVID-19 pandemic. We'll talk about some personal milestones, such as my first Ironman, tackling the Leadville 100, and shifting focus to the committed audience. I'll emphasize the importance of storytelling, community building, and lessons learned from endurance training that parallels business and life. The episode reflects on both professional and personal growth, especially after becoming a father. CHAPTERS 00:00 Introduction and Recap of Chapter Five 01:17 Building a Brand: Lessons and Growth 02:09 Endurance Journey and Pandemic Challenges 03:37 The Hybrid Athlete and Business Evolution 04:35 Fatherhood and Shifting Focus 05:42 Key Lessons from Chapter Six 09:59 Content and Storytelling Machine 12:31 Ironman Prep and Business Chaos 21:05 Leadville 100: A Life-Changing Experience 31:01 Rocky Raccoon 100-Miler: Overcoming Adversity 32:28 Marathon Training: Achieving New Personal Records 34:16 The Obsession with Improvement 38:36 Endurance Training and Business Parallels 52:09 Building a Community, Not Just an Audience 58:07 Personal Growth: Balancing Family and Ambition 01:02:58 Conclusion: Reflecting on the Journey Become a BPN member for free - Unlock 20% off for life https://www.bareperformancenutrition.com/pages/bpn-membership?srsltid=AfmBOorlpjVeag2kkt3eZ5UpWcFA5Bb2v5V_93lmO47Vn_Y8DRdLwDLL MENTIONS: Watch More Than the Miles: https://youtu.be/6GdPP_a2sNI?si=b-l4_oI9KZhi8Q_2 Half Time by Bob Buford https://www.amazon.com/Halftime-Significance-Bob-P-Buford/dp/0310344441 From Strength to Strength: Finding Success, Happiness, and Deep Purpose in the Second Half of Life by Arthur C. Brooks https://www.amazon.com/Halftime-Significance-Bob-P-Buford/dp/0310344441 FOLLOW: IG: instagram.com/nickbarefitness/ YT: youtube.com/@nickbarefitness

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104: 6 Things to Stop Doing To Take Back Control of Your Life

104: 6 Things to Stop Doing To Take Back Control of Your Life

In this podcast episode, I discuss six key things to stop doing in order to regain and take control of your life. Drawing from my own personal experiences and mistakes, I'll emphasize the importance of stopping certain behaviors that hinder personal growth and control. The six things highlighted include not waiting for change, avoiding assumptions, setting anti-goals alongside goals, distinguishing between busyness and productivity, seeking validation from external sources, and not letting others set the conditions of your life. These insights aim to help the listeners lead a more directed, productive, and fulfilling life. CHAPTERS 00:00 Introduction and Episode Overview 00:48 The Importance of Doing Less 02:33 Acknowledging Life Circumstances 04:30 Stop Waiting for Change 11:32 Living Life on Autopilot 17:10 Stop Making Assumptions 29:18 Stop Making Assumptions and Start Asking Questions 29:59 Set Anti-Goals Before Setting Goals 33:18 The Importance of Family Time 39:15 Stop Being Busy and Start Being Productive 48:39 Seek Internal Validation, Not External 54:07 Take Control: Set Your Own Conditions 59:20 Conclusion: Six Steps to Take Control of Your Life MENTIONS: Half Time by Bob Buford https://www.amazon.com/Halftime-Significance-Bob-P-Buford/dp/0310344441 Become a BPN member FOR FREE - Unlock 20% off FOR LIFE https://www.bareperformancenutrition.com/pages/bpn-membership?srsltid=AfmBOorlpjVeag2kkt3eZ5UpWcFA5Bb2v5V_93lmO47Vn_Y8DRdLwDLL FOLLOW: IG: instagram.com/nickbarefitness/ YT: youtube.com/@nickbarefitness

20 Tammi 1h 1min

103: Answering Your Business Questions | BPN Q&A

103: Answering Your Business Questions | BPN Q&A

For this episode, I decide to take a different approach and use my entrepreneurial journey to address business questions sourced from Instagram about the path of building my company, BPN, from 2012 to January 2025. I cover the biggest mistakes I've made, the transformative shifts in our business strategy, and insights on maintaining profitability while scaling. Alongside my experiences, I share valuable lessons on leadership, the importance of vision and intent, and our future plans, including international expansion. Chapters 00:00 Welcome and Introduction 02:32 The Importance of Learning from Others 05:59 Biggest Mistake in Business 08:34 The Role of Vision and Intent 17:35 Taking a Salary and Early Challenges 33:20 Balancing Growth and Profitability 40:55 Transformative Shifts in Business 49:46 Maximizing Endurance: The Core of Training 51:29 Evolving Business Operations: From Humble Beginnings 58:30 Marketing Evolution: From Organic to Data-Driven 01:06:14 Standing Out in a Competitive Market 01:14:32 Advice to My Younger Self: Lessons Learned 01:22:57 Expanding to the UK and Europe: A Strategic Approach 01:27:16 Raising Capital and Managing Finances 01:31:22 In-House Fulfillment: The BPN Approach 01:38:02 Conclusion: Final Thoughts and Future Plans Become a BPN member FOR FREE - Unlock 20% off FOR LIFE https://www.bareperformancenutrition.com/pages/bpn-membership?srsltid=AfmBOorlpjVeag2kkt3eZ5UpWcFA5Bb2v5V_93lmO47Vn_Y8DRdLwDLL Follow: IG: instagram.com/nickbarefitness/ YT: youtube.com/@nickbarefitness

13 Tammi 1h 35min

102: How To Run Longer, Faster and Build Endurance

102: How To Run Longer, Faster and Build Endurance

In this episode, I cover my personal journey of building endurance since 2018 and offer insights into running longer and faster. We'll discuss the adaptations and efficiencies gained through consistent practice. Covering topics such as the importance of aerobic base building, lactate threshold training, and critical velocity work. I also share my experiences with physical challenges, training methodologies, heart rate and VO2 max training, and training structure. The aim is to provide practical advice for anyone looking to improve their endurance and running performance. Chapters 00:00 Introduction to Building Endurance 01:28 Early Running Experiences and Challenges 04:29 The Journey from High School to Military Running 04:58 Discovering the Marathon and Running Strategies 10:33 Setting and Achieving Running Goals 17:00 The Marathon: A Test of Endurance and Efficiency 30:31 Understanding Lactate and Body Efficiency 31:23 Understanding Glucose Utilization During Exercise 32:59 The Impact of High-Intensity Training on Lactate Levels 33:55 Personal Experience with Lactate Threshold Testing 38:18 Adaptations from Endurance Training 41:02 The Importance of Aerobic Conditioning 44:25 Structuring Your Marathon Build 52:02 Training Methods and Personal Preferences 54:54 The Role of VO2 Max and Heart Rate in Training 01:03:44 Balancing Training Volume and Avoiding Injuries 01:06:08 Final Thoughts on Endurance Training Engineered for endurance. Proven by performance. Try G.1.M Sport today https://www.bareperformancenutrition.com/products/g-1-m-sport Follow: IG: instagram.com/nickbarefitness/ YT: youtube.com/@nickbarefitness

6 Tammi 1h 9min

101: 5 Mindset Shifts You Need To Make To Succeed Next Year

101: 5 Mindset Shifts You Need To Make To Succeed Next Year

In the last episode of the year, I'm sharing the five crucial mindset shifts needed to succeed in 2025, reflecting on personal experiences and lessons learned from a wild 2024. I'm emphasizing the importance of being results-driven, embracing change, insourcing more while outsourcing less, pursuing the process rather than the final product, and welcoming downtime. Chapters 00:00 Introduction and Episode Overview 00:38 Reflecting on a Wild Year 04:10 Call to Action for 2025 08:05 Mindset Shift 1 23:56 Mindset Shift 2 32:04 Mindset Shift 3 47:42 Mindset Shift 4 01:01:42 Mindset Shift 5 01:11:14 Final Thoughts and Encouragement Strength, endurance, and wellness supplements to fuel your performance. SAVE 10% at BPN Supps: https://bit.ly/nickbare10audio Follow: IG: instagram.com/nickbarefitness/ YT: youtube.com/@nickbarefitness

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100: My HYROX Dallas Full Race Breakdown

100: My HYROX Dallas Full Race Breakdown

In this episode, we recap my first HYROX competition in Dallas, Texas, held on November 23, 2024. Competing in the pro division with my BPN team, I share my training journey that began in June 2024 and break down the eight-round structure of HYROX races. I analyze my performance and discuss my race results. We'll talk race strategy, the importance of training-specific movements, and my excitement for future competitions. This episode offers insights into my training regimen, nutrition, and mental preparation to help you better understand and improve your own performance. Chapters 00:00 Intro 01:08 What is HYROX? 02:57 Race Breakdown and Performance Analysis 08:14 Pre-Race Experience and Preparation 16:42 Race Day: From Start to Finish 22:36 Post-Race Reflections and Learnings 34:38 Future Goals and Upcoming Races 38:41 Training Strategies and Adjustments 50:10 Conclusion and Final Thoughts Strength, endurance, and wellness supplements to fuel your performance. SAVE 10% at BPN Supps: https://bit.ly/nickbare10audio Follow: IG: instagram.com/nickbarefitness/ YT: youtube.com/@nickbarefitness

23 Joulu 202440min

099: An Honest Conversation After a Near-Death Experience

099: An Honest Conversation After a Near-Death Experience

This episode is a raw and unfiltered take as I recount a life-changing experience from December 11th, 2024, where I miraculously survived being hit by a car during a morning run. I share my reflections and lessons learned from this event, emphasizing the importance of embracing contentment without complacency. As an entrepreneur and athlete, I've always struggled with balancing ambition and presence. This experience has prompted me to reassess my life's pace, appreciate what I have, and commit to a future that values both growth and gratitude. Chapters 00:00 Intro 03:28 Full Story 20:46 Reflections on Contentment and Ambition 26:26 The Addiction of Doing: A Personal Struggle 31:54 Balancing Sacrifices and Values 37:38 Building a Life to Be Proud Of 47:55 Conclusion: Embracing Contentment and Moving Forward Strength, endurance, and wellness supplements to fuel your performance. SAVE 10% at BPN Supps: https://bit.ly/nickbare10audio Follow: IG: instagram.com/thenickbarepodcast/ YT: youtube.com/@nickbarefitness

16 Joulu 202451min

098: Building the Brand: Part 5 "The Hybrid Athlete"

098: Building the Brand: Part 5 "The Hybrid Athlete"

In this fifth installment of the 'Building the Brand' series, I'm taking us through Chapter Five, titled 'The Hybrid Athlete,' covering pivotal moments from April 2019 to 2020. Highlighting my transition from bodybuilding to endurance training, I discuss the profound impact of discovering 'Go One More' and the growth of BPN. We'll cover personal stories, from marathon training to my mother’s battle with cancer.Also covered are key learnings on branding, team building, and the explosive growth of BPN during the COVID-19 pandemic. Finally, I introduce the concept of the hybrid athlete, balancing strength training with endurance running, and how this approach has shaped both my life and BPN's future.Chapters00:00 Introduction to Chapter Five: The Hybrid Athlete01:24 The Power of Brand: Finding Our Voice03:04 Lessons Learned in Chapter Five03:49 The Story of 'Go One More'13:09 The Birth of a Brand: BPN's Evolution13:33 Building the Creative Team22:13 Embracing Endurance: From Bodybuilding to Ironman27:13 Committing to Ironman Florida28:09 A Personal Tragedy and Its Impact35:36 The Growth of BPN During the Pandemic41:42 Creating G1M Sport: Solving Real Problems48:49 The Journey to a Sub-Three-Hour Marathon53:00 Embracing the Hybrid Athlete Lifestyle57:03 Conclusion and Future PlansWatch or share the full Building the Brand series nowhttps://www.youtube.com/playlist?list=PLldAMepUaYU6vWd_yEkg7D4Y7fQMowyoZStrength, endurance, and wellness supplements to fuel your performance. SAVE 10% at BPN Supps:https://bit.ly/nickbare10audioFollow:IG: instagram.com/nickbarefitness/YT: youtube.com/@nickbarefitness

9 Joulu 20241h

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