Preparing for the greatest transition of wealth in the history of our country

Preparing for the greatest transition of wealth in the history of our country

Vance interviews Rich Hall, Certified Exit Planning Advisor (CEPA) with Silver Fox Advisors, who specialize in small and mid-market business growth and exit preparation advisory services.

Rich answers these questions about preparing to exit your business:

  • What’s this transition of wealth you’re talking about?

Baby Boomers own about 2/3 of all privately held businesses. Over the next 2 decades, they’ll be looking to sell or transfer their business so they can retire. That’s estimated at $7 Trillion of wealth will potentially transfer to someone else.

  • If the business is generating positive income, what are some reasons why it won’t sell?

Too much dependence on the owner, Too high a concentration of clients (20% of revenue from single client or client group), Services company that relies on people that may leave if owner sells

  • for the business owners out there, what should they be doing?

First, they need to get a picture of what the company is truly worth. It may be worth more than they think or a lot less. Most companies today are valued by a multiple of EBITDA (a form of net profit), They should also look at the company from a buyer’s perspective. What would be the value from a pure investor? What gaps exist in people, processes, systems, sales/marketing, etc.

To find out more, Rich can be reached here: www.richhallgroup.com

+1.713.301.5606


Thanks for listening to the Systematic Magic Podcast. If you like what you heard, go to our website: Deliver Service Now .com so you do not miss a single strategy.

Join Vance’s crusade to eliminate poor client or patient experiences around the world. Go to Deliver Service Now .com right now


Avsnitt(44)

Barriers to Great Service | Deliver Service Now institute | Vance Morris

Barriers to Great Service | Deliver Service Now institute | Vance Morris

From the Far Eastern Shore of Maryland I was with a dentist client of mine a couple weeks ago. He was having trouble with complaints about his waiting room and reception team. When his patients were getting back to the treatment room, they were less than enthused and seemed to be downright grumpy. “But we have scripts” he almost shouted at me. “My team knows what to do because I gave them scripts telling them exactly what to do and what to say”. “When was the last time you inspected those scripts?”, I quizzed him. Just because they have scripts, SOP’s or OJT’s doesn’t mean your employees are doing what they should be. You need to inspect what you expect. Now would be a good time to go do that. Author of the book “Systematic Magic, 7 Magic Keys to Disnify Any Business” Author of the new book “Tales From the Customer Service Crypt. 10 Tales of Customer Experiences So Poor, They Should Be Buried In a Crypt For All Eternity. AND 47 Actionable Strategies, Questions, or Tactics You Can Use Right Now to Improve Your Client / Patient Experience For more on Disney Style Service and small business marketing or having Vance speak at your next event or meeting, check out the free special report "Systematic MAGIC, How to Disnify Any Business". Vance Morris is a Walt Disney World Resort Management Alumni, having spent 10 years as an executive in the Resorts. He runs the only Disney Service & Direct Response Marketing business on the planet. Here he coaches companies to create Disney Style Service Systems and then monetize them through direct response marketing. He is also the longest reigning GKIC Marketer of the Year. He can be reached at www.DeliverServiceNow.com or vance@deliverprofitsnow.com . For speaking engagements, please visit www.vancemorris.com

24 Feb 20203min

Ep. 3 Disney's Hidden Runway and Your Business

Ep. 3 Disney's Hidden Runway and Your Business

Walt Disney once said: even if I’m the only one that notices, some things are still worth doing, because I need to be prideful to be motivated. I’m paraphrasing, but I’m close. Part of “Magic Key #2, Details, Details, Details” from my special report “Systematic Magic”, talks about the need to have an obsession with the details. Walt was famous for his attention to every detail and he dictated that everyone was to have the same attention to detail that he did. Author of the book “Systematic Magic, 7 Magic Keys to Disnify Any Business” Author of the new book “Tales From the Customer Service Crypt. 10 Tales of Customer Experiences So Poor, They Should Be Buried In a Crypt For All Eternity. AND 47 Actionable Strategies, Questions, or Tactics You Can Use Right Now to Improve Your Client / Patient Experience For more on Disney Style Service and small business marketing or having Vance speak at your next event or meeting, check out the free special report "Systematic MAGIC, How to Disnify Any Business". Vance Morris is a Walt Disney World Resort Management Alumni, having spent 10 years as an executive in the Resorts. He runs the only Disney Service & Direct Response Marketing business on the planet. Here he coaches companies to create Disney Style Service Systems and then monetize them through direct response marketing. He is also the longest reigning GKIC Marketer of the Year. He can be reached at www.DeliverServiceNow.com or vance@deliverprofitsnow.com . For speaking engagements, please visit www.vancemorris.com

12 Feb 20203min

Ep. 2 Luxury My Butt

Ep. 2 Luxury My Butt

Just because you say it is, doesn't mean it is. If you want to deliver luxury service, it cannot be done by merely placing the word "luxury" on the side of a plastic cup. Author of the book “Systematic Magic, 7 Magic Keys to Disnify Any Business” Author of the new book “Tales From the Customer Service Crypt. 10 Tales of Customer Experiences So Poor, They Should Be Buried In a Crypt For All Eternity. AND 47 Actionable Strategies, Questions, or Tactics You Can Use Right Now to Improve Your Client / Patient Experience For more on Disney Style Service and small business marketing or having Vance speak at your next event or meeting, check out the free special report "Systematic MAGIC, How to Disnify Any Business". Vance Morris is a Walt Disney World Resort Management Alumni, having spent 10 years as an executive in the Resorts. He runs the only Disney Service & Direct Response Marketing business on the planet. Here he coaches companies to create Disney Style Service Systems and then monetize them through direct response marketing. He is also the longest reigning GKIC Marketer of the Year. He can be reached at www.DeliverServiceNow.com or vance@deliverprofitsnow.com . For speaking engagements, please visit www.vancemorris.com

12 Feb 20206min

Ep. 1 What time is the 3 o:clock parade?

Ep. 1 What time is the 3 o:clock parade?

"What time is the 3 o:clock parade" is not a stupid question. What is the question behind the question? Author of the book “Systematic Magic, 7 Magic Keys to Disnify Any Business” Author of the new book “Tales From the Customer Service Crypt. 10 Tales of Customer Experiences So Poor, They Should Be Buried In a Crypt For All Eternity. AND 47 Actionable Strategies, Questions, or Tactics You Can Use Right Now to Improve Your Client / Patient Experience For more on Disney Style Service and small business marketing or having Vance speak at your next event or meeting, check out the free special report "Systematic MAGIC, How to Disnify Any Business". Vance Morris is a Walt Disney World Resort Management Alumni, having spent 10 years as an executive in the Resorts. He runs the only Disney Service & Direct Response Marketing business on the planet. Here he coaches companies to create Disney Style Service Systems and then monetize them through direct response marketing. He is also the longest reigning GKIC Marketer of the Year. He can be reached at www.DeliverServiceNow.com or vance@deliverprofitsnow.com . For speaking engagements, please visit www.vancemorris.com

2 Feb 20203min

Populärt inom Business & ekonomi

badfluence
framgangspodden
varvet
svd-ledarredaktionen
rss-svart-marknad
avanzapodden
rss-borsens-finest
borsmorgon
rss-kort-lang-analyspodden-fran-di
rss-dagen-med-di
rikatillsammans-om-privatekonomi-rikedom-i-livet
lastbilspodden
dynastin
uppgang-och-fall
affarsvarlden
rss-placerapodden
rss-inga-dumma-fragor-om-pengar
tabberaset
24fragor
rss-en-rik-historia