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

Jaksot(192)

089: How Cancer Transformed Amanda Kimiko's Life and Mindset to Conquer Leadville 100

089: How Cancer Transformed Amanda Kimiko's Life and Mindset to Conquer Leadville 100

In this episode, we dive into the story of Amanda Kimiko—military veteran, cancer survivor, and ultra-endurance athlete. Amanda’s mantra, Unbreakable, is more than just a word; it’s how she approaches life’s toughest moments. From overcoming cancer to taking on the Leadville 100 Ultra Marathon, she’s proof of what’s possible when you push your limits. Amanda recaps Leadville, shares how ultra running became a path to personal growth, overcame cancer twice, and how it shaped her in ways beyond the physical. Her journey is a testament to resilience, strength, and the relentless pursuit of one more. Chapters: 00:00 Introduction 00:54 Amanda Kimiko Intro 01:11 Living in Austin? 02:22 The Vibrant Austin Community 03:50 Conquering Leadville 100 04:29 The Emotional Finish Line 07:53 The Challenge of Hope Pass 17:14 The Highs and Lows of Ultra Running 31:00 The Unbreakable Mindset 33:28 The Origin of My Mission 33:56 Facing a Life-Changing Diagnosis 35:04 Defying the Odds 35:49 Finding Light in Darkness 37:39 The Power of Mindset 39:10 Life Before and After Cancer 39:38 The Role of Culture and Family Expectations 56:31 Military Life and Transition 01:03:48 Training for Leadville 100 01:08:24 The Unique Challenges of Ultra Running 01:13:01 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 Keep up with Amanda IG: https://www.instagram.com/justmissamanda/

14 Loka 20241h 13min

088: A Conversation With My Tattoo Artist, Andy Pho of Upside Tattoo

088: A Conversation With My Tattoo Artist, Andy Pho of Upside Tattoo

Today, I take a unique approach with this episode and sit down with my tattoo artist, Andy Pho of Upside Tattoo in Hutto, Texas. We chat through how Andy integrates mindfulness into his art through his 'High Frequency, Low Energy' approach, crafting a serene and customer-focused environment. Learn about his inspiring journey, from family heritage to profound experiences as a monk, and how these shape his unique tattooing philosophy. Andy shares insights on mastering his craft and the balance of art and communication, including the symbolic 'black shirt versus white shirt' styles in his work. Emphasizing effective communication and listening skills, he reveals how understanding clients' desires and precise questioning enhance the tattooing experience, leading to meaningful, high-quality results and enriching client relations.Chapters:00:00 A Surprising Tattoo Shop Experience01:36 Meet Andy: The Visionary Tattoo Artist02:05 Creating a Unique Tattoo Experience03:07 The Importance of Client Connection04:01 A Calm and Zen Tattoo Environment05:37 Personal Tattoo Stories and Reflections09:15 The Philosophy Behind Upside Tattoo12:08 High Frequency, Low Energy: Explained14:56 The Power of Solitude and Focus30:11 Andy’s Journey and Background47:17 Questioning Life's Purpose47:59 Seeking Answers as a Monk49:26 Balancing Life Choices50:37 Finding Meaning in Helping Others01:00:07 The Journey to Becoming an Artist01:16:29 The Importance of Effective Communication01:31:23 Concluding Thoughts and Future PlansStrength, endurance, and wellness supplements to fuel your performance. SAVE 10% at BPN Supps:https://bit.ly/nickbare10audioFollow:IG: instagram.com/nickbarefitness/YT: youtube.com/@nickbarefitnessKeep up with Andy:IG: https://www.instagram.com/andypho/?hl=en

7 Loka 20241h 32min

087: Building the Brand: Part 2 "Solitude"

087: Building the Brand: Part 2 "Solitude"

In this chapter of Building the Brand, I cover my time from landing in Fort Benning, Georgia in October 2013, to arriving at Fort Hood, Texas in October 2014. I share how my severe eating disorder led me to fall in love with fitness and start Bare Performance Nutrition (BPN). I recount my Army ROTC experiences, graduating college, and the challenges faced during Ranger School. This chapter reflects on the importance of solitude, resilience, and the life lessons learned, paving the way for BPN's growth and my leadership approach. Chapters 00:00 Overcoming Personal Struggles 00:10 The Spark of Fitness and Nutrition 00:25 Military Journey Begins 00:50 Starting BPN: The Early Challenges 02:05 Reflecting on Chapter One 05:00 Arriving at Fort Benning 07:56 Lessons from Military Training 18:33 The Importance of Solitude 24:56 Preparing for Ranger School 32:55 Mastering Time Management 34:47 The Ranger School Challenge 39:48 Facing Setbacks and Resilience 50:45 Lessons in Leadership and Character 53:50 New Beginnings at Fort Hood 59:46 Going All In on BPN Strength, endurance, and wellness supplements to fuel your performance. SAVE 10% at BPN Supps: https://bit.ly/nickbare10audio FOLLOW: IG: https://www.instagram.com/thenickbarepodcast YT: youtube.com/@nickbarefitness

3 Loka 202458min

086: The Power of Preparation and Belief with Luke Hopkins

086: The Power of Preparation and Belief with Luke Hopkins

Luke comes back for a round two on the podcast to recap his experience of Ironman Wisconsin, and the crucial role of nutrition and intentional training in achieving athletic success. We discuss the significance of mental resilience, the champion mindset, community support, and transforming passion into performance. Learn how to maximize and optimize your efforts, whether you're preparing for a competition or striving for personal and professional growth. Chapters 00:00 The Power of Self-Belief 01:20 Introducing Luke Hopkins 01:33 Achievements and Future Goals 02:36 Mindset and Training 04:05 Race Day Challenges 18:36 Emotional Finish Line 21:39 Impact and Inspiration 23:46 Personal Growth and Mental Health 29:34 Authenticity on Social Media 37:13 Pursuing Potential 40:08 Achieving Potential Through Preparation 40:43 The Difference Between Being Good and Being Great 41:52 Focusing on Your Own Journey 43:33 Learning from Legends: Jordan, Kobe, and Jobs 44:32 The Power of Preparation 46:15 Proving Yourself Right 48:14 The Emotional Release of Achievement 58:23 The Importance of Fueling for Performance 01:12:36 Maximizing vs. Optimizing 01:21:05 Final Thoughts and Farewell 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 Keep up with Luke: IG: instagram.com/lukehoplife

30 Syys 20241h 21min

085: Building the Brand: Part 1 "Confidence"

085: Building the Brand: Part 1 "Confidence"

In this episode, I kick off a multi-part podcast series sharing the in-depth stories and lessons learned since starting Bare Performance Nutrition in 2012. I discuss the foundation of BPN, focusing on confidence, curiosity, and courage, recounting pivotal moments like battling an eating disorder as a teenager, discovering a passion for fitness and nutrition, joining the Army ROTC, and finally deciding to launch BPN. This episode covers the early challenges, key milestones, and the initial steps taken to grow the brand. Chapters: 00:00 Introduction to the series 03:19 The Birth of BPN 05:05 Overcoming Personal Struggles: My Battle with an Eating Disorder 13:26 Discovering Fitness and Nutrition 19:09 College Life and ROTC Journey 27:01 The Confidence Booster: LDAC Experience 34:14 The Genesis of BPN: From Idea to Reality 39:45 Discovering the Golden Ticket 41:00 Creating a Business Plan 42:40 Launching the First Product 43:58 Facing Industry Challenges 45:53 The Power of Naivety 53:26 Early Marketing Struggles 59:55 The Harsh Realities of Business 01:04:08 Doubt and Determination 01:12:44 Graduation and Future Plans 01:14:14 Preparing for the Next Chapter Strength, endurance, and wellness supplements to fuel your performance. SAVE 10% at BPN Supps: https://bit.ly/nickbare10audio FOLLOW:IG: https://www.instagram.com/thenickbarepodcastYT: youtube.com/@nickbarefitness

23 Syys 20241h 14min

084: The Evolution of Hybrid Athlete Training with Dr. Andy Galpin

084: The Evolution of Hybrid Athlete Training with Dr. Andy Galpin

Dr. Andy Galpin and I explore everything related to human performance. From advanced training regimens and the science behind strength and power to the history and evolution of fitness trends, we cover it all. Understand the unique coaching methods used to optimize athletic performance and the importance of personalized training programs. Discover how to enhance VO2 max without running, and gain a balanced perspective on fitness that includes strength, endurance, and flexibility. 00:00 Welcome and Introduction 00:24 Exploring Human Performance 05:23 The Journey to Performance Science 11:34 Coaching Elite Athletes 32:29 Balancing Life and Performance 38:08 Strength, Hypertrophy, and Power 41:20 Understanding Force and Velocity 41:43 Examples of Power in Action 42:44 Optimal Power Production 43:38 Power vs. Strength 44:09 Misinterpretations of Power Training 45:07 Hypertrophy: Muscle Growth Explained 46:35 Training for Specific Attributes 50:24 Skill and Movement in Athletic Performance 53:46 Hypertrophy in Athletic Training 56:05 Strength and Power for Endurance Athletes 01:00:42 VO2 Max and Cardiovascular Training 01:05:00 The Evolution of Hybrid Athlete Training 01:17:04 Balancing Different Training Goals 01:20:51 Final Thoughts and Reflections 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 Keep up with Dr. Andy Galpin: We educate, entertain, and inspire the world through story telling. https://www.andygalpin.com/ IG: https://www.instagram.com/drandygalpin/?hl=en

16 Syys 20241h 22min

083: How Faith and Discipline Shape Your Successes with Joe Champion

083: How Faith and Discipline Shape Your Successes with Joe Champion

Today, I'm joined by Pastor Joe Champion, Senior Pastor of my church, Celebration Church. He and I share our life experiences, touching on leadership in ministry, balancing family responsibilities, and having a strong foundation in faith. We specifically navigate building both a brand and a church while handling criticism and pressure. Pastor Joe's personal anecdotes, disciplined upbringing, and emphasis on stability and consistency in parenting offer deep insights into achieving greater fulfillment in all areas of life. Strength, endurance, and wellness supplements to fuel your performance. SAVE 10% at BPN Supps: https://bit.ly/nickbare10audio FOLLOW: IG: https://www.instagram.com/thenickbarepodcast YT: youtube.com/@nickbarefitness JOE CHAMPION: IG: @joechampion Visit celebration.church for more information 00:00 Introduction and Personal Connections 01:29 Pastor Joe's Influence on the Podcast 06:47 Faith and Family Foundations 09:56 Balancing Ambition and Responsibilities 18:19 Handling Criticism and Public Perception 26:45 Building Trust and Values in Leadership 36:36 Sustaining Success in Church Leadership 37:27 Intentional Youth Engagement 40:19 Balancing Inspiration and Instruction 45:26 Addressing Modern Challenges 01:05:13 The Importance of Consistency 01:10:34 Personal Reflections and Legacy 01:14:38 The Origin of 'Go One More'

9 Syys 20241h 11min

082: Reflections on Legacy and Building a Life of Impact

082: Reflections on Legacy and Building a Life of Impact

For this conversation, I wanted to share personal updates about my expanded family and the challenges and joys of welcoming my newborn son, Niko. I dive into the significant changes that come with having a second child, drawing parallels from a conversation with our COO and his running analogy. This episode explores the importance of patience, endurance, and growth during life's stressful seasons. I reflect on what legacy means, moving beyond material wealth to focus on impact, character, and teaching future generations. Through my experiences, I emphasize the importance of purpose and direction, the difference between making and finding time, and transforming perceived enemies into allies to build a lasting legacy. CHAPTERS 00:00 The Importance of Legacy 00:53 Life Update: Becoming a Father of Two 01:50 Challenges of Parenting Two Kids 05:28 Emotional Moments and Reflections 09:52 Defining Legacy 20:18 Making Time for What Matters 38:40 Purpose and Direction in Life 45:52 Building a Legacy Without Enemies 52:07 Final Thoughts on Legacy Strength, endurance, and wellness supplements to fuel your performance. SAVE 10% at BPN Supps: https://bit.ly/nickbare10audio FOLLOW: IG: https://www.instagram.com/thenickbarepodcast YT: youtube.com/@nickbarefitness

2 Syys 202452min

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