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

Avsnitt(192)

001: A New Chapter

001: A New Chapter

Life transitions come fast, often unexpected, and leave us to process the complex changes we are moving through. Over the past few months, I've become a father, stepped down from CEO of the brand I've built for ten years, and opened doors within myself that remained shut for so long. These massive life transitions have brought me here - to a place of learning, navigating, and growing. A place we all inevitably will find ourselves. The relaunch of this podcast is to have powerful, unfiltered conversations with the world's most incredible individuals to understand what it takes to reach our full potential and create the life we desire. Welcome to the Nick Bare Podcast. Follow for more: Instagram: https://www.instagram.com/nickbarefitness/ Youtube: https://www.youtube.com/@nickbarefitness Topics: (00:00) Intro (00:45) Change is not a threat (01:25) Books I’m currently reading (02:10) Massive life transitions (07:00) Becoming a dad (07:45) Stepping down from CEO (09:30) Sharing everything (10:55) The goal of this podcast (11:45) There are no quick fixes (14:05) What's the solution to change? (15:30) Life gets complicated (17:20) Finding solitude (18:30) Best decision I've ever made (21:30) Why the rebrand (30:20) Evolving mission (32:35) Mission, Vision, Values (34:45) Water your character (36:05) Boundaries protect priorities (38:00) Ambition and contentment (40:30) Actions over words (41:50) Accepting change (42:55) Final words Supplements I Take: https://bit.ly/3Nviqpc

7 Mars 202344min

Archive - The New CEO of BPN

Archive - The New CEO of BPN

Episode #161 In this episode, Nick sits down with BPN’s newly introduced Chief Executive Officer, Kat Thomas. The two go in-depth behind the decision to name Kat as CEO, Nick’s new role within the business he founded, and how this transition happened so naturally. Key discussion points include: - How service and positive impact toward a mission are more important than outcome-driven goals, such as job title. - The life of a founder and what it requires to bootstrap a business, building from the ground up. - Why ‘brand’ matters and how BPN serves to change lives through the power of messaging and quality supplementation. What makes the best brands different? And how can you apply the lessons of two experienced business founders? Nick and Kat’s conversation will encourage you to go all in on your health, business, and life goals. Read more on our BLOG: http://www.bareperformancenutrition.com/blogs/content/the-new-ceo-of-bare-performance-nutrition Resources: BPN Website - Supplements and Apparel: www.bpnsupps.com Nick’s Website: www.nickbare.com Nick’s Instagram: @nickbarefitness Nick’s Youtube: www.youtube.com/user/barelifenutrition Follow Us On Social Media: Instagram: @thebareperformancepodcast Facebook: The Bare Performance Podcast

9 Jan 20231h 14min

Archive - Go One More | Prove Yourself Right

Archive - Go One More | Prove Yourself Right

Episode #160 - Go One More | Prove Yourself Right BPN is challenging you to choose something physically hard to accomplish in 2023. We are aiming to reveal the deep confidence that causes us to Go One More; the innate belief in yourself and your ability to push through. You know you CAN accomplish what you commit to, you just have to prove yourself right. Nick and Tony both announce their Prove Yourself Right projects, as well as why BPN aligns so strongly with this mission. They also cover the shift they’re making with their negative self-talk, and how freedom comes from confidence through repetition and consistency. Read more about how you can participate here: http://www.bareperformancenutrition.com/blogs/content/go-one-more-prove-yourself-right More Resources: BPN Website - Supplements and Apparel: www.bpnsupps.com Nick’s Website: www.nickbare.com Nick’s Instagram: @nickbarefitness Nick’s Youtube: www.youtube.com/user/barelifenutrition Follow Us On Social Media: Instagram: @thebareperformancepodcast Facebook: The Bare Performance Podcast

2 Jan 202355min

Archive - Nick Bare | Without Consistency, All Else Fails

Archive - Nick Bare | Without Consistency, All Else Fails

Episode 159 - Without Consistency, All Else Fails If you do not have the ability to be consistent, that may be the reason you aren’t reaching your goals and accomplishing the things you want from life. In this episode, Nick answers your questions from his Instagram (@nickbarefitness), most of which were about how to be consistent going into 2023. Here, Nick explains his personal mindset when a new year approaches and how he finds renewed motivation whenever he feels distracted. Nick gives practical steps to achieve consistency in everything you do so you can start next year focused. More Resources: BPN Website - Supplements and Apparel: www.bpnsupps.com Nick’s Website: www.nickbare.com Nick’s Youtube: www.youtube.com/user/barelifenutrition Follow Us On Social Media: Instagram: @thebareperformancepodcast Facebook: The Bare Performance Podcast

26 Dec 202238min

Archive - Sally McRae | Running 507 Miles In 81 Days | Choose Strong

Archive - Sally McRae | Running 507 Miles In 81 Days | Choose Strong

Welcome back to the podcast for her second time, elite runner and BPN athlete: Sally McRae! After completing the Choose Strong Project, Sally sits down with Nick to bond over their love for weight training and how their approach to fitness has evolved over the years. Sally reflects on her early career when many viewed strength training as unnecessary for runners and the unique challenges, she faced in pushing back against that notion as a performance athlete. Sally passionately speaks to the perspective that life is more about how we make others feel than simply our physical appearance. This episode goes beyond just recognizing the accolades of human performance but really emphasizes the commonalities we all have as humans, whether in parenthood, insecurities, or how to be strong for life. “Let’s talk about what we’re doing and not what we look like.” - Sally The Choose Strong Project was an endurance-based event in which she ran 507 miles over the course of 81 days, during 5 separate races. She created this project in honor of her late mother, running 1 mile for every month of her mother’s life. For this project Sally ran Bad Water 135, Angles Crest 100, Leadville 100, Wildstrubel 100k, and a double summit of Mt. Whitney. About Sally: Sally McRae is a professional ultra/mountain runner for Nike. Also known as Yellowrunner, Sally often uses her platform to encourage others in their dream journey and to inspire others to live out their lives to the fullest. She is also a mother of two, endurance coach, writer, speaker, and creates content focused on strength training, dedication, and inspiration. She most recently launched her own strength and mental training app: SALLY MCRAE STRENGTH which you can download directly from her website (sallymcrae.com) or Instagram: @yellowrunner More Resources: BPN Website - Supplements and Apparel: www.bpnsupps.com Nick’s Website: www.nickbare.com Nick’s Instagram: @nickbarefitness Nick’s Youtube: www.youtube.com/user/barelifenutrition Follow Us On Social Media: Instagram: @thebareperformancepodcast Facebook: The Bare Performance Podcast

12 Dec 20221h 29min

Archive - Nick Bare | The Power of Commitment

Archive - Nick Bare | The Power of Commitment

Episode 155 In this solo episode, Nick reveals how crucial committing to a goal is for his life. He explains how success can and should be broken down to the simplicity of a first step, and why focusing on the task in front of you relives the pressure of how large a vision might be. Nick shines light on the fact that many people find reasons to postpone their goals when life gets difficult, which is why commitment can be so powerful. He also admits that there are warning signs to this level of dedication, and how accountability can help prevent burnout. "Sometimes having someone hold you accountable is not to make sure you actually do it, sometimes it's to make sure you don't over-do it." Nick poses the challenge to commit to something--right now-- for 2023 that will be really hard for you. Use this episode to motivate you to commit to something that will grow, stretch, and develop you as a leader, an athlete, and a better human. If you enjoy this podcast, make sure to subscribe to stay up-to-date on all of our weekly releases! More Resources: BPN Website - Supplements and Apparel: www.bpnsupps.com Nick’s Website: www.nickbare.com Nick’s Instagram: @nickbarefitness Nick’s Youtube: www.youtube.com/user/barelifenutrition Follow Us On Social Media: Instagram: @thebareperformancepodcast Facebook: The Bare Performance Podcast

21 Nov 202242min

Archive - Leif Babin | Extreme Ownership

Archive - Leif Babin | Extreme Ownership

Episode #154 – Nick is joined by Leif Babin, former Navy SEAL Platoon Commander and co-author of the NY Times Bestseller: Extreme Ownership. They discuss the most prominent distinctions between military and civilian leaders, how powerful leadership is about considering other people’s perspectives, why simplicity in your communication makes you more impactful, and how ‘silent leaders’ can tend to be the best ones. Nick and Leif also recount gripping stories from their military experiences and how they shaped their future endeavors. “If you interact with other humans in any capacity, you are a leader.” Even without a ‘title,’ you are a leader. Leif passionately speaks to the need to own this responsibility and positively impact the lives of those around you. This episode jumps into practical, inspiring commentary on our lives from two tremendous leaders. About Leif Babin: A graduate of the U.S. Naval Academy, Leif served thirteen years in the Navy, including nine in the SEAL Teams. As a SEAL platoon commander in SEAL Team Three’s Task Unit Bruiser, he planned and led major combat operations in the Battle of Ramadi that helped the “Ready First” Brigade of the US Army’s 1st Armored Division achieve victory. Task Unit Bruiser became the most highly decorated special operations unit of the Iraq War. Leif returned from combat and became the primary leadership instructor for all officers graduating from the SEAL training pipeline. There, he reshaped SEAL leadership training to better prepare the next generation of SEAL officers for the immense challenges of combat. During his last tour, Leif served as Operations Officer and Executive Officer at a SEAL Team where he again deployed to Iraq with a Special Operations Task Force. He is the recipient of the Silver Star, two Bronze Stars, and a Purple Heart. Upon his departure from active duty, Leif co-founded Echelon Front, a premier leadership consulting company, where he serves as President, leadership instructor, speaker, and strategic advisor. Echelon Front helps others build their own high-performance winning teams. More Resources: BPN Website - Supplements and Apparel: www.bpnsupps.com Nick’s Website: www.nickbare.com Nick’s Instagram: @nickbarefitness Nick’s Youtube: www.youtube.com/user/barelifenutrition Follow Us On Social Media: Instagram: @thebareperformancepodcast Facebook: The Bare Performance Podcast

14 Nov 20221h 41min

Archive - Nick Bare Q&A | STAND FOR SOMETHING

Archive - Nick Bare Q&A | STAND FOR SOMETHING

We're live with another Q&A session with Nick and Jordan Utter! The guys sit down to answer questions that you submitted on Instagram; with topics like: is social media essential to build a brand, how is Nick's health different during the Hybrid Build vs an Ultra Marathon prep, the best way to maintain a consistent, healthy diet, how to not sacrifice culture for the sake of growth, and does Nick drink alcohol. These episodes happen periodically from questions Nick will ask on his Instagram Story, so if you have questions for him, follow Nick @nickbarefitness. And follow along the Youtube Series "The Hybrid Build" on Youtube. New Episodes launch every Monday at 10:00AM CST More Resources: BPN Website - Supplements and Apparel: www.bpnsupps.com Nick’s Website: www.nickbare.com Nick’s Youtube: www.youtube.com/user/barelifenutrition Follow Us On Social Media: Instagram: @thebareperformancepodcast Facebook: The Bare Performance Podcast

31 Okt 202248min

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