In this episode of The Business Coach podcast, host David Finkel is joined by special guest and seasoned business attorney Gassman. They discuss the key legal fires that high-revenue companies (50-150 million USD annual revenue) face, and how to mitigate these risks. Topics include addressing accidents, compliance issues, disputes, and divorce. Alan shares insights from his 41-year career in business law to help business owners protect their ventures and personal assets, emphasizing the importance of prevention and strategic planning. Whether you're a growing business or an already established enterprise, this episode provides valuable advice for ensuring long-term success and stability.

00:00 Introduction: Flying Under the Radar
00:43 Welcome to The Business Coach Podcast
01:11 Special Guest: Alan Gasman
02:08 Legal Fires for High-Revenue Companies
03:45 Protecting Your Business from Legal Risks
08:22 Accidents and Their Impact on Business
15:29 Compliance Issues and Government Scrutiny
22:24 Disputes and Legal Battles
25:15 The Hidden Costs of Divorce
28:27 Final Thoughts and Practical Advice
32:59 Conclusion: Take Action Today
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Links
Website: mauimastermind.com/
Facebook: facebook.com/MauiMastermind/
Instagram: instagram.com/mauimastermind/
LinkedIn: linkedin.com/company/maui-mastermind

In this episode of The Business Coach hosted by David Finkel, practical advice and actionable insights are shared on how to effectively negotiate leases for your business. David explains why execution of strategies is often more crucial than knowing what to do. The episode breaks down seven key coaching tips, covering topics like understanding market rates, starting negotiations early, cultivating options, and being aware of personal guarantees. Real-world examples of lease negotiations involving two savvy businesswomen, Tina and Linda, are discussed to illustrate common pitfalls and best practices.

00:00 Introduction: The Importance of Execution
00:43 Welcome to The Business Coach Podcast
01:21 Negotiating a Good Lease: Real-Life Examples
03:30 Case Study: Lease Renewal with Tina
07:20 Case Study: New Lease with Linda
08:36 Seven Coaching Suggestions for Lease Negotiation
24:01 Final Thoughts and Summary
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Links
Website: mauimastermind.com/
Facebook: facebook.com/MauiMastermind/
Instagram: instagram.com/mauimastermind/
LinkedIn: linkedin.com/company/maui-mastermind

Explore Maui Mastermind's unique approach to **coaching** and **business strategy**, designed to empower **entrepreneurship**.

Learn how their expert **business coach** helps clients achieve **financial freedom** and implement effective **business tips** for sustainable growth in their **coaching business**.

---- LinksWebsite: mauimastermind.com/Facebook: facebook.com/MauiMastermind/Instagram: instagram.com/mauimastermind/LinkedIn: linkedin.com/company/maui-mastermind

Join host David Finkel in this week's episode of the Business Coach podcast as he welcomes back Kevin Bassett, owner of Bassett CPA firm, to explore the damaging financial mistakes business owners make both inside and outside their companies. Learn how to avoid these pitfalls and enhance your business's profitability and your personal wealth. This episode offers actionable insights on strategic expense management, allocation of capital, and the importance of having a financial plan. Kevin also shares personal anecdotes about his experiences in music and surfing, adding a personal touch to the business advice. Don't miss this deep dive into optimizing your financial decisions and safeguarding your business's future.

00:00 Introduction to Strategic Expenses
01:05 Meet Kevin Bassett: CPA and Entrepreneur
01:41 Damaging Financial Mistakes in Business
02:58 Avoiding Common Financial Pitfalls
03:40 Personal Insights and Stories
05:02 The Importance of Financial Fitness
06:36 Misuse of Cash Flow and Capital Allocation
14:22 The Role of Assistants in Business Success
17:52 Chasing Squirrels: The Dangers of Unfocused Investments
19:44 The Importance of Capital Allocation
20:43 Building Wealth Outside Your Business
22:32 Learning from Investment Mistakes
26:17 The Role of Financial Advisors
33:34 Timing the Sale of Your Business
36:26 Leadership and Team Retention
38:14 Final Takeaways and Conclusion
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Links
Website: mauimastermind.com/
Facebook: facebook.com/MauiMastermind/
Instagram: instagram.com/mauimastermind/
LinkedIn: linkedin.com/company/maui-mastermind

In this episode of The Business Coach Podcast, host David Finkel sits down with Rich Wood, the Coaching Director for Maui Mastermind. They dive deep into recognizing when you have the wrong team member and making necessary adjustments. Topics include preempting bad hires through better hiring practices, tools for spotting performance issues early, having tough conversations, and effective employee check-in strategies. Rich also shares client success stories and practical advice for business owners to create a better, stronger, and more profitable business.

00:00 Introduction and Opening Thoughts
00:27 Welcome to The Business Coach Podcast
00:56 Meet Rich Wood: Coaching Director for Maui Mastermind
01:18 Identifying the Wrong Team Member
02:31 Client Success Stories
04:11 Accountability and Team Member Evaluation
08:26 The Hiring Process: Best Practices
10:05 Handling Difficult Conversations
14:14 Performance Improvement Plans
19:39 Formal Check-ins and Employee Development
32:41 Concluding Thoughts and Takeaways
35:16 Closing Remarks and Call to Action
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Links
Website: mauimastermind.com/
Facebook: facebook.com/MauiMastermind/
Instagram: instagram.com/mauimastermind/
LinkedIn: linkedin.com/company/maui-mastermind

In this episode of the Business Coach podcast, host David Finkel discusses the critical aspects of hiring the right people for your business. Through real-life examples from coaching clients Susan and Carlos, David highlights common mistakes such as rushing the hiring process and not having a structured approach. He explains the importance of taking the time to define the role clearly and selecting candidates with essential must-have qualities. David also offers practical tips for assessing recent hires' performance and making necessary adjustments to ensure your team and business thrive. Tune in to learn how to make better hiring decisions and build a stronger, more resilient company.

00:00 Introduction: The Importance of Hiring Right
00:36 Welcome to the Business Coach Podcast
01:24 A Tale of Two Clients: Susan and Carlos
02:39 Common Hiring Mistakes
05:35 The Gold Standard of Hiring
11:32 Evaluating Your Hires
14:42 Dealing with Tough Decisions
20:54 Conclusion and Final Thoughts
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Links
Website: mauimastermind.com/
Facebook: facebook.com/MauiMastermind/
Instagram: instagram.com/mauimastermind/
LinkedIn: linkedin.com/company/maui-mastermind

In this episode of the Business Coach Podcast, host David Finkel discusses the various options for exiting your business, including selling, scaling, transitioning to a passive role, or passing it on to heirs. He shares insights into factors to consider, such as personal enjoyment, the future sustainability of the business, and its growth rate, to help you make the best decision. Using real-life examples and client stories, Finkel emphasizes the importance of optionality and making informed choices for your unique situation and goals.

00:00 Introduction to Exit Strategies
01:06 Understanding Optionality for Business Owners
02:39 Client Success Story: Scott's Journey
05:43 Exploring Exit Options
08:38 Decision Tree for Selling Your Business
10:39 The Value of Holding a Growing Business
13:53 Optionality and Personal Fulfillment
22:37 Final Thoughts and Takeaways
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Links
Website: mauimastermind.com/
Facebook: facebook.com/MauiMastermind/
Instagram: instagram.com/mauimastermind/
LinkedIn: linkedin.com/company/maui-mastermind

In this episode of the Business Coach podcast, host David Finkel sits down with seasoned CPA and entrepreneur, Kevin Bassett. Together, they explore the nuances of selling a company, especially to private equity firms. Kevin shares invaluable insights from his experience advising over 300 successful business exits, delving into the importance of always being sale-ready, understanding private equity strategies, and preparing for the due diligence process. Listen in to learn how to navigate common negotiation pitfalls and ensure you sell your business for top dollar.

00:00 Introduction to Business Negotiations
00:34 Welcome to the Business Coach Podcast
01:01 Meet Kevin Bassett: CPA and Entrepreneur
01:34 The Trend of Selling to Private Equity
02:10 Understanding Private Equity Playbooks
02:29 Heart-to-Heart on Private Equity Games
03:15 The Importance of Multiple Offers
08:40 Common Mistakes in Selling Your Business
12:11 The Readiness of Business Owners and Companies
16:37 The Pitfalls of Casual Conversations
18:06 Navigating Due Diligence
18:51 Introduction to Due Diligence
19:16 Financial Due Diligence
19:45 Quality of Earnings Reports
20:46 Tax and Legal Due Diligence
21:07 Negotiation Tactics in Private Equity
21:39 Understanding EBITDA and Adjusted EBIT
24:37 The Fatigue Game in Private Equity
29:39 Working Capital Adjustments
34:52 Final Thoughts and Key Takeaways
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Links
Website: mauimastermind.com/
Facebook: facebook.com/MauiMastermind/
Instagram: instagram.com/mauimastermind/
LinkedIn: linkedin.com/company/maui-mastermind