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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Archive - Harnessing The Power Of Deep Work To Be More Creative And Original | Alex Rodriguez & Jordan Utter

Archive - Harnessing The Power Of Deep Work To Be More Creative And Original | Alex Rodriguez & Jordan Utter

Everyone is creative in some way. Some may create art. Some create food. Some create businesses. For all of us, we are the creators of the life we want to live. For many of us, being creative can come with some resistance. The choice to be original and forge your own path can be one of the most difficult parts of the creative process. In this episode two members of the BPN Media team, Jordan Utter and Alex Rodriguez, join Nick on the show to talk all about what it truly means to be original, and shed some deep insight into how you should view originality and creativity. As they share with us, by eliminating distractions and working deeply, we can eliminate creative barriers and be more creative, original, and productive. More Resources: BPN website: www.bpnsupps.com Nick’s website: www.nickbare.com Nick’s Instagram: www.instagram.com/nickbarefitness Nick’s Youtube: www.youtube.com/user/barelifenutrition Follow Us On Social Media! Instagram: @thebareperformancepodcast Facebook: The Bare Performance Podcast Twitter: @BarePerformPod

11 Apr 20221h 32min

Archive - Bedros Keuilian & Ray "Cash" Care | Turning Your Suffering Into Growth

Archive - Bedros Keuilian & Ray "Cash" Care | Turning Your Suffering Into Growth

What impact does your past have on your present? Many people let their past trauma or negative experiences have power over how they live their life, and let it consume them. Others try to run from and ignore it. Bedros Keuilian and Ray “Cash” Care have made it their life goal to help others realize that we cannot out-run, out-fight, or out-smart our past, but we can use it as a catalyst for growth and choose to be better from it. Bedros is a best-selling author, speaker, business consultant, and founder and CEO of Fit Body Boot Camp. Ray is a Navy Seal veteran and instructor for the Modern Day Knight Project, a 75 hour self-development program for men founded by Bedros. MDK Project: www.mdkproject.com Bedros Keuilian: www.bedroskeuilian.com Ray “Cash” Care: www.raycashcare.com More Resources: BPN website: www.bpnsupps.com Nick’s website: www.nickbare.com Nick’s Instagram: www.instagram.com/nickbarefitness Nick’s Youtube: www.youtube.com/user/barelifenutrition Follow Us On Social Media! Instagram: @thebareperformancepodcast Facebook: The Bare Performance Podcast Twitter: @BarePerformPod

28 Mars 20221h 37min

Archive - Dr. James DiNicolantonio | Optimizing Salt Intake to Improve Performance

Archive - Dr. James DiNicolantonio | Optimizing Salt Intake to Improve Performance

Do you have enough salt in your diet? Joining us on this week's episode, we have Dr. James DiNicolantonio to explore how salt intake is a key factor in physical performance and overall health. Nick and Dr. James dive deep into the science behind how our body responds to salt, as well as debunk some misconceptions about this mineral that have been popularized over the years. Dr. James is a cardiovascular research scientist and doctor of pharmacy at Saint Luke’s Mid America Heart Institute in Kansas City, Missouri, and author of The Salt Fix and Superfuel. He has shared his expertise on The Dr. Oz Show, The Doctors, and international news media outlets. Dr. James' Website: https://drjamesdinic.com/ Shop BPN Electrolytes here More Resources: BPN website: www.bpnsupps.com Nick’s website: www.nickbare.com Nick’s Instagram: www.instagram.com/nickbarefitness Nick’s Youtube: www.youtube.com/user/barelifenutrition Follow Us On Social Media! Instagram: @thebareperformancepodcast Facebook: The Bare Performance Podcast Twitter: @BarePerformPod Youtube: The Bare Performance Podcast

14 Mars 202251min

Archive - Jeff Cunningham | The 5 Pillars of Distance Training

Archive - Jeff Cunningham | The 5 Pillars of Distance Training

Does running slower make you faster?   On this week’s episode, Nick’s marathon coach Jeff Cunningham is back for his second time on the podcast to discuss the most effective way to train for distance running.     Nick and Jeff share specific insight into how workouts are being crafted and executed to move towards Nick’s goal of running under 2:50 at the Buffalo Marathon at the end of May.  They dive deep into how to properly apply the “5 Pillars of Distance Running,” which are easy runs, speed workouts, recovery, nutrition, and strategic planning, to your training.  If you are looking to PR your next distance race, you will want to tune in to this episode.   Watch Episode 3 of Nick’s Marathon Prep series on the 5 Pillars: https://youtu.be/ysUMSRaldpY   More Resources: BPN website: www.bpnsupps.com Nick’s website: www.nickbare.com Nick’s Instagram: www.instagram.com/nickbarefitness Nick’s Youtube: www.youtube.com/user/barelifenutrition   Follow Us On Social Media! Instagram: @thebareperformancepodcast Facebook: The Bare Performance Podcast Twitter: @BarePerformPod

7 Mars 20221h 37min

Archive - Sal Di Stefano | Is Strength Training Best For Fat Loss?

Archive - Sal Di Stefano | Is Strength Training Best For Fat Loss?

For years, there has been a stigma around runners including strength training into their workouts. For fear of injury or becoming “too big,” many people actively avoid diversifying their training in this way.   Sal Di Stefano has a different approach.  He believes that all forms of exercise are beneficial when applied properly, and that whether you are a strength or endurance athlete, you should incorporate elements of both into your training.   In this episode, the Mind Pump Media host joins Nick Bare to discuss the importance of these two forms of exercise in maintaining a healthy and fit lifestyle.  Sal dives into how strength training actually raises you metabolism and can lead to more fat loss than cardio alone.  He also covers how consistency and discipline are key in optimizing your life, and how you can make changes that will have lasting effects on you health, versus temporary, short-term improvements.   More Resources: BPN website: www.bpnsupps.com Nick’s website: www.nickbare.com Nick’s Instagram: www.instagram.com/nickbarefitness Nick’s Youtube: www.youtube.com/user/barelifenutrition   Follow Us On Social Media! Instagram: @thebareperformancepodcast Facebook: The Bare Performance Podcast Twitter: @BarePerformPod

28 Feb 20221h 41min

Archive - Rocky Raccoon Ultramarathon Race Recap

Archive - Rocky Raccoon Ultramarathon Race Recap

In this episode, host Nick Bare is joined by BPN's Creative Director Jordan Utter to recount both their experiences running the Rocky Raccoon Ultramarathon which was held on February 5th, 2022.   This is Nick's second 100 mile ultramarathon, and the first race he has run since the Leadville 100 in August of 2021.  Jordan ran the 100 kilometer race on the same course to complete his first ultra. The two share insight into how they approached training, nutrition, and mindset for their respective races, and how their individual experiences differed throughout the weekend.   More Resources: BPN website: www.bpnsupps.com Nick Bare website: www.nickbare.com Instagram: www.instagram.com/nickbarefitness Youtube: www.youtube.com/user/barelifenutrition

21 Feb 20221h 29min

Archive - Dr. Paul Saladino: The Dangers Of Seed Oils, Are They Destroying Your Metabolism?

Archive - Dr. Paul Saladino: The Dangers Of Seed Oils, Are They Destroying Your Metabolism?

What if there was an ingredient in just about every food product being sold in supermarkets today that could potentially have harmful effects to your metabolism and overall health?   Dr. Paul Saladino, the CarnivoreMD, joins host Nick Bare on the podcast for the second time to discuss the potentially harmful effects seed oils may have on your body.  He goes in depth into the science behind how these oils interact with your body and how you can take steps to avoid including them in your diet.   Dr. Paul’s Website: www.carnivoremd.com Dr. Paul’s Social Media: @carnivoremd2.0   More Resources: BPN website: www.bpnsupps.com Nick Bare website: www.nickbare.com Instagram: www.instagram.com/nickbarefitness Youtube: www.youtube.com/user/barelifenutrition

14 Feb 20221h 50min

Archive - Jim DeCicco: From College Dorm Room To $500 Million Business

Archive - Jim DeCicco: From College Dorm Room To $500 Million Business

From humble beginnings in a college dorm room, Jim DeCicco and his two brothers have built their company, “Super Coffee” into a multi-million dollar business.   In this episode, host Nick Bare sits down with Jim as he dives deep into how they have built Super Coffee from the ground up.  Jim shares insight on their humble beginnings of handing out samples in stores, to how they have raised capital to support their growth, how their “no deal” on national TV show Shark Tank has impacted the company, and much more.   If you enjoy listening to "The Bare Performance Podcast," please consider leaving a rating and review for the show wherever you are listening.   More Resources: BPN website: www.bpnsupps.com Nick Bare website: www.nickbare.com Instagram: www.instagram.com/nickbarefitness Youtube: www.youtube.com/user/barelifenutrition

7 Feb 20221h 18min

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