Financial Management

Ep.136: How to Build, Accelerate and Harvest the Value of a Company with John Warrillow

Small business owners spend a lifetime building a company and have one shot at getting their exit right.

Yet waiting to pounce on this unsuspecting group is a legion of financial mercenaries, private equity predators and corporate giants set up to prey on owner’s lack of experience when it comes to mergers and acquisitions.

These financial engineers use sleazy tactics like “strategic pacing,” “re-trading,” and “proprietary deal flow” to dupe owners into selling their life’s work for pennies on the dollar.

Our guest in this episode, John Warrillow, passionately advocates owners reframe how they approach their company from thinking of it as a job to building a transferable and valuable asset.

John is the founder of The Value Builder System™, a simple software for building the value of a company used by thousands of businesses worldwide. He is a past Keynote Speaker at our Remodelers Summit and has been a guest here on PowerTips Unscripted in milestone episodes 01 and 100.

Victoria, Mark and John talk more about:

  • The selling trends that John foresees with business owners who were hit hard during the pandemic.
  • The biggest mistakes John sees owners make when it’s time to sell.
  • The evil tricks large corporations and private equity groups use to pray on inexperienced owners.
  • How owners let potential buyers know they are interested in selling without looking desperate.
  • When owners should tell their employees they are thinking of selling.
  • And more…

Take the Value Builder PreScoreTM Assessment and Discover How “Sellable” Your Business is

Whether your exit is on the horizon or years away, the PREScore™ assessment will prepare you personally for a successful transition into your next chapter while enabling your business – and your people – to continue to thrive without you. More importantly, the changes you would make to ensure your business is more “sellable” will also make it stronger and more profitable.
[Click Here to Get the Link to the Assessment]

Ep.134: Preparing a Successful Exit Strategy with Dave Leff

Have you given any thought to your exit strategy? How are you going to leave your business when you’re ready to retire and enjoy your remaining years?

It is never too early to start, and you should really be planning for that day, no matter how many years you have left.

There are many options when it comes to planning a successful exit and our guest, Dave Leff, joins us to talk more about his process, one that he is closing on within the next few weeks.

Dave, President/CEO of Leff Construction – Design/Build, explored a number of different options over the past five years and ultimately determined that an Employee Stock Ownership Plan (ESOP) was the direction that provided the best outcome.

Victoria, Mark and Dave talk more about:

  • When Dave first started thinking about exiting his company.
  • The main things Dave did to prepare his exit strategy.
  • The main options Dave considered for your exiting and the pros and cons of each option.
  • The decision to go with the ESOP option.
  • How an ESOP works and the benefits and challenges.
  • And more…

Do You Need Help With Your Exit Strategy?

Our business coaches and consultants at Remodelers Advantage are standing by to help you formulate your strategy. It’s never too early to start and you will find that there are many steps you should be taking now to insure a more successful exit later. [Click Here to Learn More]

Ep.132: How to Shatterproof Your Business with America’s Legal Coach

There are many legal challenges that can appear suddenly for remodelers, builders and business owners.

Frivolous lawsuits, “Jekyll & Hyde” clients, predatory creditors, employment claims… you name it, it’s out there.

It is imperative to build your business on a foundation that can weather the storm so that, as our guest today puts it, it doesn’t matter.

In this episode, we talk more about the process of “shatterproofing” your business with America’s Legal Coach, Scott Reib.

Scott is the owner of ReibLaw, a full-service law firm with over 20 years of Business Law and Estate Planning experience. For the last two decades, Scott has been helping business owners, entrepreneurs, coaches, and service providers to “shatterproof” their businesses and succeed in the professional world.

Victoria, Mark and Scott cover:

  • How Scott became known as America’s Legal Coach.
  • The difference between a legal coach and a lawyer.
  • What is meant by a “shatterproof” business.
  • Why a business would need to be shatterproof.
  • The biggest legal mistakes Scott sees businesses making.
  • And more…

Share the Love and Spread the Word!

After almost 3 years and 130+ episodes, we’ve come a long way… and we thank you so much for listening. But, we’re never too proud or complacent to not ask for “the love” and to help spread the word about our podcast.

If you’re enjoying our PowerTips Unscripted podcast, please spread the word, share our episodes on social media and post reviews on iTunes, Stitcher and Spotify. We would love to hear your thoughts on our program. 

Ep.129: Are Your Employees Stealing From You? With Vicki Suiter

The latest statistics on fraud should be a wake-up call for every small business owner. According to a survey by HISCOX, a specialty insurance company, 80 percent of embezzlements occurred at small businesses and 30 percent involved a loss of more than $500,000.

With more work is being done remotely, including paying vendors and processing payroll, you must have controls and processes in place to avoid this happening to you.

In this episode, we welcome Vicki Suiter, who shares simple practices and processes to help you avoid accounting fraud and stealing in your business.

Since starting Suiter Business Builders in 1990, Vicki has helped hundreds of contractors and designers build solid foundations for their businesses, run operations more efficiently, and achieve the kind of success they never dreamed possible.

Vicki’s articles and opinions have been widely shared in print and across the web. She is also the author of book “The Profit Bleed” – How managing margin can save your contracting business.

Victoria, Mark and Vicki talk more about:

  • Why small businesses are targets in 80% of all embezzlement cases.
  • The most common place where people “steal” money.
  • Other ways employees and contacts embezzle funds from a company that are less obvious.
  • Recommended controls and practices a contractor should have in place to avoid this happening to them.
  • “10 Ways to Spot Accounting Fraud”

Here is the link to the resource mentioned, “How to Spot Accounting Fraud”
https://suiterbusinessbuilders.com/how-to-spot-accounting-fraud/

Check out Vicki's Book; The Profit Bleed

This book is a doable, step-by-step guide that will put money in your pocket, and more time and fun in your day. Learn how to keep your finger on the critical pulse points that drive success, depend on your employees to take ownership, close more deals while charging more money, and more! [Click Here to check out Vicki’s book on Amazon]

Ep.124: Applying What You Have Learned with John Lessick

Conferences, blog posts, podcasts, webinars, roundtables peer groups, consulting, coaching… information is everywhere.

But, just because you’re opening yourself up to these opportunities to learn, it doesn’t mean anything will ever change.

The hard part is what comes after you get the information. John Lessick joins Victoria and Mark to discuss how to take what you’re learning and applying it to make you and your business stronger.

John Lessick is the President and Owner of APEX Wood Floors, Inc. in Chicago, IL. In 1985, John joined APEX as an apprentice and spent nine years learning every facet of the business before purchasing the company in 1994. Thanks to his expertise and vision, the business has blossomed and evolved, growing from 5 employees to nearly 25 over the last 25 years.

Victoria, Mark and John cover:

  • How outside resources and advisors have helped.
  • How the 3-5 year plan that John has put together has helped his business.
  • Learning about and implementing LEAN process improvement.
  • Specific examples of how John has implemented changes in his business.
  • And more…

Helping Your Business Apply What You Have Learned

If you are interested to learn more about how the Business Consultants & Coaches at Remodelers Advantage can help you and your business, contact Doug Howard today.

Ep.122: Growing a High Volume Remodeling Business with Jake Schloegel

Many remodelers dream of one day building a high volume remodeling company. Others aren’t sure it’s worth the effort.

In this episode, we talk to Jake Schloegel about what it takes to grow a high volume remodeling business. Why build it? Who should be involved? What are the expectations?

Jake is the Founder of Schloegel Design Remodel, an award-winning Design/Build firm in Kansas City. He started out in 1980 as a one-man company and has grown it, with the help of his team, to an operation exceeding $14 million of revenue annually. The company is now managed by Jake’s son, Charlie Schlegel and his business partner, Chris Peterson.

Jake has been a facilitator, instructor and facilitator for Remodelers Advantage for years and is very active in the remodeling community, having served as president of NARI from 1990 through 1992.

Victoria, Mark and Jake talk more about:

  • Some background on Jake, his business and what prepared him for growth.
  • Who helped Jake in building the company.
  • The key components necessary for sustainable growth and the rewards.
  • Why Jake wanted to achieve high volume.
  • What Jake would do differently if he could have some do-overs.

This Episode Sponsored by: Builder Funnel

We are excited to have Builder Funnel joining us as a featured sponsor for PowerTips Unscripted. Spencer Powell and his team at Builder Funnel have been huge supporters of R/A and the remodeling community for years and it is great to have on board as a featured sponsor… Welcome, Builder Funnel!

Ep.121: Creating Your Own Economic Recovery with Wayne Ottum

Seemingly everywhere you turn these days, you hear the phrase “survive and thrive” as it relates to your business. But it takes more than a catch-phrase and a couple of tips to make it a reality.

In this episode, we talk to Wayne Ottum about how to get focused, get real, and get moving to take control and create an authentic plan to not just survive, but thrive, in uncertain times!

Wayne is president of Ottum Enterprises in Kirkland, Washington, and we’re excited to announce that Wayne is also the newest member of the Remodelers Advantage Consulting Team.

Wayne has over 3 decades of experience helping businesses and leaders be more focused, productive, and successful. His Lead from Strength methods and tools have guided those in the remodeling industry and other professional services firms to become extraordinary businesses and leaders.

In this episode, Victoria, Mark and Wayne Cover:

  • What drives you and your business? What are you passionate about
  • What “leading from strength,” means to a business owner.
  • Creating your own economic recovery.
  • What “Get focused, get real, and get moving” means.

Upcoming FREE Webinar:
If you would like to hear more from Wayne and our team of business consultants and coaches, we will be hosting a FREE Webinar on September 9th; Riding The Wave – Accelerating Pre-Production to Meet Today’s High Demand. Wayne will join Doug Howard, Tim Faller and Steve Wheeler for this 90-minute presentation about how to take advantage of this recent surge in business and preparing for success in 2021. Click Here for more and to reserve your seat.

This Episode Sponsored by: Builder Funnel

We are excited to have Builder Funnel joining us as a featured sponsor for PowerTips Unscripted. Spencer Powell and his team at Builder Funnel have been huge supporters of R/A and the remodeling community for years and it is great to have on board as a featured sponsor… Welcome, Builder Funnel!

Ep.120: Personal Wealth Building for Business Owners with George Kall

As a remodeling business owner, building wealth and financial security is something everyone wants to achieve.

Unfortunately, it’s something that many of us put off because the needs of today are more pressing, especially with the current market.

In this episode, Victoria and Mark talk to George Kall about tips and advice on planning for your future financial security today.

George is the owner of Metro Building and Remodeling Group, a Design-Build firm just outside of Washington DC in Ashburn, VA. George started the company seven years ago and now employs a team of 9 and was recently ranked #107 on this year’s Remodeling Magazines list of largest remodelers.

Victoria, Mark and George talk more about:

  • Establishing a company 401k and how you personally implement it for you and your family.
  • Setting aside money for your family.
  • Planning for uncertain times like we are in now.
  • Using credit cards and obtaining loans for the business.
  • One suggestion for personal wealth building

This Episode Sponsored by: Builder Funnel

We are excited to have Builder Funnel joining us as a featured sponsor for PowerTips Unscripted. Spencer Powell and his team at Builder Funnel have been huge supporters of R/A and the remodeling community for years and it is great to have on board as a featured sponsor… Welcome, Builder Funnel!

Ep.119: Creating Rapid Financial Results and Lasting Cultural Change with Steve Baker

“The high cost of replacing employees means it’s important to find ways to retain the best performers, and studies show that transparency from the top can be a solution, boosting employee engagement and motivation.

One way to achieve that transparency is to show employees the company’s numbers and teach them the business. Why not get them in the same game as the owner?

The strategy is to create a business of business people. Then and only then will they begin to make a connection to the numbers that measure their performance and talk intelligently about improving the business.”

– Steve Baker

Steve Baker joins Victoria and Mark to talk more about the benefits and advantages of open book management, as well as some of the challenges that business owners face.

Steve is Vice President of The Great Game of Business, Inc. and co-authored Get in the Game as well as the update of the number one bestseller, The Great Game of Business—20th Anniversary Edition.

Known for his engaging and irreverent style, Steve is a top-rated, sought-after speaker and coach on open-book management, strategy and execution, leadership, and employee engagement.

Victoria, Mark and Steve talk more about:

  • The best reasons that a business owner should teach their people business
  • Common perceptions that employees have of ownership when there isn’t open-book transparency
  • How employees can benefit from an open-book policy
  • How you can get started
  • And more…

Resources mentioned in this Episode:

The Great Game of Business

Download the Get in the Game Audiobook

R/A Lumber Yard Run Calculator 

This Episode Sponsored by: Wellborn Cabinet

Wellborn Cabinet is the featured sponsor for this episode of PowerTips Unscripted. Thank you, Wellborn Cabinet!

Ep.112: Discovering New Revenue Streams With Chris Landis

We are all so busy running our businesses that we often don’t realize that there are other potential revenue-generating investments that align with our present and future business needs.

Chris Landis thinks you should consider helping businesses that lease their office space as an added revenue stream.

In this episode, Victoria, Mark and Chris talk more about this innovative revenue source.

Chris is a Principal owner of Landis Architects/Builders in Washington, DC and is a member of the AIA, with 28 years of experience in residential architecture. Landis Architects/Builders is one of the top Washington, DC renovation and remodeling firms and is co-owned by Chris and his brother, Ethan Landis.

In this episode, Victoria, Mark and Chris cover:

  • The benefits, opportunities and challenges of owning your own building.
  • Offering space in your building to other business.
  • What is involved in becoming a landlord.
  • How these deals are structured financially and timelines involved.
  • How you can pass this knowledge onto other business owners.
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