• P&L: Priorities & Lifestyle

  • De: Rob Schulz
  • Podcast

P&L: Priorities & Lifestyle Por arte de portada

P&L: Priorities & Lifestyle

De: Rob Schulz
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  • P&L (Priorities and Lifestyle) Podcast with Rob Schulz is a show for business owners. Join us as host and financial planner Rob Schulz connects with business owners and experts to talk about business building, life, money — and the all-important transition out of the business, which is a challenge and an opportunity for everyone who steps on this path. See our disclosures here - https://www.schulzwealth.com/
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Episodios
  • Negotiating Business Sales - The Right Way (with Pete Benenati)

    Negotiating Business Sales - The Right Way (with Pete Benenati)
    Jul 17 2024

    Pete Benenati, founder of Benenati Law, brings over 30 years of experience to the current business transaction market. Pete represents both buyers and sellers and has learned over the years the best ways to make sure the deal works out smoothly for their clients, including a huge focus on tax planning throughout the entire process. Pete and I discussed the current business sales environment, how it’s changed over 30 years, and how current tax laws affect sales. We also talked about the best ways for business owners to negotiate their post-sale compensation, including salary, if they choose to continue to work after the sale. Finally, Pete and I covered the current and future estate laws, and the role they play in business selling strategies.

    If you’re looking to gain some insight on the hugely complicated world of business buying and selling, make sure to tune in to this week’s episode of P&L.

    Contact Pete at https://www.benenatilaw.com/

    “When you're selling a business, you're focused on that number for the sale of the business. But you don't get into the weeds. I get into the weeds. I've been doing this over 30 years. I still learn to this day that things come up that you don't expect.” - Pete Benenati

    This week on Priorities Lifestyle:

    • Getting “Into The Weeds” Of Business Sales

    • Maximizing Tax Efficiency When Selling A Business

    • Tax Deferral Strategies To Minimize Penalties

    • Negotiating Salary/Compensation After The Sale

    • The Importance Of “Quality Of Earnings”

    Our Favorite Quotes:

    • "Only thing you can depend on is the cash you get at close. If that cash is not enough to make you happy, don't do the deal because you don't know if the other deals are going to work out." - Pete Benenati

    • “The magic words in estate planning are ‘start early’. Start early.” - Rob Schulz

    • "Everybody always thinks the prenup is about divorce. It really isn’t in second marriages. It really is about making sure we avoid conflicts with children of each marriage for the surviving spouse.” - Eric Wessinger

    About Rob Schulz and P&L Priorities & LIfestyle Podcast

    The P&L: Priorities & Lifestyle Podcast is a show for business owners. In each episode, host and financial planner Rob Schulz sits down with business owners and the professionals that serve them to talk about business building, life, money — and the all-important transition out of the business, which inevitably happens to everyone who has ever founded a company.

    Email Rob at rob.schulz@schulzwealth.com with questions and comments, or to schedule a one-on-one conversation.

    Follow Rob on LinkedIn

    Follow Schulz Wealth on LinkedIn

    Follow Schulz Wealth on Facebook

    Order Rob’s book, Thoughts on Things Financial, on Amazon | Barnes & Noble | Kobo | iBooks | Kindle

    Subscribe to the podcast here:

    Apple Podcast

    Spotify

    Audible

    And, if you enjoy the show, please leave a review to help others discover the podcast.

    *You’re listening to P&L: Priorities & Lifestyle with your host Rob Schulz. Rob is the Founder and President of Schulz Wealth. All opinions expressed by Rob and his guests are solely their own opinions and do not reflect the opinions of Schulz Wealth. This podcast is for informational purposes only and should not be relied upon for investment decisions. Please refer to our website for more information: schulzwealth.com.
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    57 m
  • Taking Over The Family Business (with Eric Wessinger)

    Taking Over The Family Business (with Eric Wessinger)
    Jul 3 2024
    Eric Wessinger successfully managed a family business transition at Richards Supply over the course of around 10 years. His journey with the company began as a summer job, involving various roles while growing up, before he pursued a different career path for about a decade. Returning to Richards Supply with newfound perspective and experience, Eric now shoulders the responsibility of maintaining the family legacy and ensuring its success. When Eric returned to Richards with the intention of leading it, there was obviously a bit of employee resistance to the idea of the owner’s son taking over. To address this, Eric adopted a humble and honest approach, working with existing employees to make sure that the company’s culture and processes remained. And with two high school-aged children, Eric is pretty open to the possibility of involving them in the third generation of the family business. Contact Eric at https://www.richardssupply.com/ “It's not black and white; leadership is not ‘yes’ and ‘no’. It's not ‘on’ and ‘off’. Every person needs different things from you as a leader." - Eric Wessinger This week on Priorities Lifestyle: The Challenges Of Transitioning Business Within The Family Navigating Employee Pushback During A Leadership Transition The Importance Of A Five-to-Ten Year Plan For Transition Why Outside Experience Was Crucial To A Successful Family Business Transition Training The Next Generation To Take Over Surviving As A Supply Company During COVID Our Favorite Quotes: "It wasn't, ‘The owner’s son is coming in, and he's going to teach us all about how it works.’ This was, ‘Hey, the owner’s son is coming to join the company. We're all in this together. This is new for all of us. Let's learn this together.’" - Eric Wessinger “You know, it's two different things. You have ownership, that's one thing, and you have leadership, that's another. I think that we forget that a lot of the time, especially when we're doing transitions within generations. You can move those around and pull the levers differently.” - Rob Schulz "I know of family members that aren't involved in their family business and still want to be involved, still want to kind of have their say even though they have nothing to do with the business. I've been really blessed and lucky that I don't have that situation. I'm fully autonomous to run Richards the way I want, and my family allows me that freedom.” - Eric Wessinger About Rob Schulz and P&L Priorities & LIfestyle Podcast The P&L: Priorities & Lifestyle Podcast is a show for business owners. In each episode, host and financial planner Rob Schulz sits down with business owners and the professionals that serve them to talk about business building, life, money — and the all-important transition out of the business, which inevitably happens to everyone who has ever founded a company. Email Rob at rob.schulz@schulzwealth.com with questions and comments, or to schedule a one-on-one conversation. Follow Rob on LinkedIn Follow Schulz Wealth on LinkedIn Follow Schulz Wealth on Facebook Order Rob’s book, Thoughts on Things Financial, on Amazon | Barnes & Noble | Kobo | iBooks | Kindle Subscribe to the podcast here: Apple Podcast Spotify Audible And, if you enjoy the show, please leave a review to help others discover the podcast. *You’re listening to P&L: Priorities & Lifestyle with your host Rob Schulz. Rob is the Founder and President of Schulz Wealth. All opinions expressed by Rob and his guests are solely their own opinions and do not reflect the opinions of Schulz Wealth. This podcast is for informational purposes only and should not be relied upon for investment decisions. Please refer to our website for more information: schulzwealth.com.
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    50 m
  • The Genesis Of WeBuyHouses.com (with Jeremy Brandt)

    The Genesis Of WeBuyHouses.com (with Jeremy Brandt)
    Jun 5 2024
    Jeremy Brandt joined me on the show this week to talk about what it was like to create a household name in WeBuyHouses.com. We talked about what led him to flipping houses in the first place, how he realized that scaling it could work on a national scale, and we also dove into the cyclical nature of the industry. Jeremy’s survived multiple housing industry crashes and shares what strategies he uses in downturns to minimize losses and set himself up for success. Finally, we discussed franchising, why it was the right choice for his business, and what it’s like to run a company with the brand recognition of WeBuyHouses. Contact Jeremy at jeremybrandt.com "I think entrepreneurs, by definition, are very optimistic, and they really just feel success is right around the corner, the next thing's right around the corner. It's a thing that can hurt us, but is also kind of a superpower that lets us push through difficult times and create these successful businesses." - Jeremy Brandt This week on Priorities Lifestyle: Revolutionizing Real Estate: WeBuyHouses.com's Genesis Lead Generation for Real Estate Investors Brandt's Approach to Exclusive Real Estate Territories Why Franchising Made Sense For WeBuyHouses Staying Afloat In A Cyclical Industry How To Survive Industry Downturns Our Favorite Quotes: "I love real estate as a long term wealth building strategy and long term cash flow strategy. I think sometimes people go into it thinking it's going to be passive income and an airbnb is absolutely not passive income for most people." - Jeremy Brandt "I see you being somewhat risk smart in some of these decisions that you make that I applaud you with, because a lot of times we don't see that with entrepreneurs. They'll just chase all those bright, shiny things and not even think about the risk. But you've done just a really good job of developing all your businesses in a way that you're looking and going, yeah, no, I don't think I'm going to do that because I don't totally understand it or it's way off over here, or it's just not what I do." - Rob Schulz "But I only have the capacity to do so many things at a time, and it's much better and much better use of my time to focus on two or three really important, high value things that I can be laser focused on, then kind of pinging all over the map with every great idea that comes along." - Jeremy Brandt About Rob Schulz and P&L Priorities & LIfestyle Podcast The P&L: Priorities & Lifestyle Podcast is a show for business owners. In each episode, host and financial planner Rob Schulz sits down with business owners and the professionals that serve them to talk about business building, life, money — and the all-important transition out of the business, which inevitably happens to everyone who has ever founded a company. Email Rob at rob.schulz@schulzwealth.com with questions and comments, or to schedule a one-on-one conversation. Follow Rob on LinkedIn Follow Schulz Wealth on LinkedIn Follow Schulz Wealth on Facebook Order Rob’s book, Thoughts on Things Financial, on Amazon | Barnes & Noble | Kobo | iBooks | Kindle Subscribe to the podcast here: Apple Podcast Spotify Audible And, if you enjoy the show, please leave a review to help others discover the podcast. *You’re listening to P&L: Priorities & Lifestyle with your host Rob Schulz. Rob is the Founder and President of Schulz Wealth. All opinions expressed by Rob and his guests are solely their own opinions and do not reflect the opinions of Schulz Wealth. This podcast is for informational purposes only and should not be relied upon for investment decisions. Please refer to our website for more information: schulzwealth.com.
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    49 m
Economía
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