If you have ever experienced the feeling of being overworked, miscommunicated with and unmotivated towards the greater vision, then this episode is for you.Dr. Stacy Feiner—a nationally-recognized innovative and business psychologist, leadership coach, and mentor—has helped hundreds of business owners identify their mental barriers and develop a plan to become a top performer. Today’s episode is a ruthlessly honest look at when business owners need business coaching and why putting it off will cost you.
Dr. Feiner shares with us the inherent limitations that come with our own life experiences and how they impact the way we process what we’re experiencing now, from the deal table to a hard talk with our partner. We have mental blind spots where we can’t perceive a different perspective or experience properly, causing miscommunications and mismanagement of our lives and our businesses. This problem is more pervasive than we realize, but Dr. Feiner offers a solution in this episode. Are you ready to level-up your business?
// USE YOUR FINANCIALS TO CLARIFY A PATH TOWARDS A MORE VALUABLE BUSINESS: Intentional Growth Financial Assessment
Dr. Stacy Feiner is a nationally-recognized innovative psychologist known for leveling-up the output of elite performers and the complex systems they lead. Using the lens of psychology, Dr. Feiner taps the invisible dynamics that make people tick and groups click. In your ear and at your side, Dr. Feiner coaches you to achieve the results you want in all areas of your life.
06:39 - “[The private sector] is fragmented but we are the sixth largest economy in the world…We are a huge part of the economy.” - Dr. Stacy Feiner
08:35 - “What’s really important is the notion of psychology seems to be still underrepresented in the conversation about human health.” - Dr. Stacy Feiner
09:43 - “We have a need for belonging and we have a need for self-expression.” - Dr. Stacy Feiner
10:50 - “I think of the idea of performance coaching and mentorship and therapy all about learning about oneself. I think the difference between therapy and coaching, for example, is that therapy is about protecting you from the fall and coaching is about the climb.” - Dr. Stacy Feiner
22:40 - “You don’t have to relive painful experiences in order to resolve them.” - Dr. Stacy Feiner
24:39 - “We are taught to keep emotion out of decision-making. But the precursor to every decision is emotion. If you have confidence about a decision, that’s an emotion. If you are doubtful about something, that is emotion.” - Dr. Stacy Feiner
29:41 - “We had something on each other. I was being naughty. They were being naughty. So we had naughty information about each other. That kept us confidencial.” - Dr. Stacy Feiner
33:21 - “Each one of the circles has three imperatives and they’re universal. There’s governance, wealth distribution, and legacy which happens in ownership.” - Dr. Stacy Feiner
41:24 - “Healing is health and health is growth and that’s powerful. And sometimes awareness is the byproduct.” - Dr. Stacy Feiner
50:40 - “I’m your first base coach. If you’re running to second base, I want you to get there as badly as you do.” - Dr. Stacy Feiner
Reach out to me if you have questions about the boot camp!
Whether you want to acquire, grow or exit your business, this episode is a must listen because it is packed full of information on about the state of lower M&A market, how to find companies to buy, creative deal structures, valuations, things to do before you sell and more. What You Will Learn in Today’s Podcast Interview: Why deals in the $1-5 million value range are mostly about psychology and relationships Creative ways to structure the purchase of a company without putting any money down Why the age of a business owner can impact the value of the business Where and how to find companies to buy The limitations of using an SBA to fund a deal Why most business owners don’t decouple themselves from the day to day operations of their business The difference between being and owner operator and an investor in a business What holds most business owners back from scaling their businesses Why the number one “exit strategy” for business owners in the US is to shut their doors The biggest barriers owners face when it’s time to exit their business Why it is necessary for owners to have a plan for themselves after the sale Carl’s top 4 pieces of advice for buyers and sellers after doing 340+ deals Podcast Interview Summary: In today’s episode, Carl gives us a look into the depth of his expertise on buying and selling businesses, educating and advising owners, and best practices for conducting deals. After working on Wall Street in the beginning of his career, Carl worked as the Director of M&A for Hewlett-Packard. In this role, Carl went around buying companies for HP, which included his largest deal of 13.9 billion dollars. Twelve years ago, he made the decision to retire at the age of 37 after his ...
Peter Lehrman is the CEO of Axial, an online platform that connects business sellers and buyers to find the best merger and acquisition partnership possible. Peter comes from an entrepreneur family. He studied at Stanford and learned the ins and outs of M&A through the private equity industry. During his time in private equity, Peter saw a very inefficient process that inspired him to develop Axial. He shares how his platform closes information gaps for both sellers and buyers. We discuss the wealth of information business owners can utilize to be better prepared for the M&A process and how Axial promotes those resources. What you will learn: Peter’s time in business with his brother and early experience. His time in private equity and what he learned. The inefficiencies that Peter hoped to correct with Axial. Who does Axial serve? Peter’s opinion on the “Baby Boomer Exodus.” The 2 major information gaps Axial tries to fill for their clients. The importance of reputation in M&A transactions. How a seller can find a serious buyer. Axial’s commitment to educating their clients. Selling a business cannot be delegated out to someone else. The 3 drivers of business value. Takeaways: Use resources like GXP Collaborative and Axial to educate yourself on the selling process. You are the owner of your exit experience and the more homework you do the smoother the process. Links and Resources: GEXP Collaborative Axial Middle Market Review Peter’s email About Peter: Peter is CEO of Axial, responsible for driving the company’s vision to be the trusted platform where private companies connect with capital. Prior to Axial, Peter worked in private equity at SFW Capital Partners and was part of the founding team at Gerson Lehrman Group, where he helped build the company’s dominant global ...
Dyanne Ross-Hanson started Exit Planning Strategies in 2005 when she realized the business owners that she worked with didn’t give much thought to how they were actually going to get out of their businesses. She saw a need to educate these owners and develop intentional plans for ownership transition. If you listen, you will learn: Why rewarding and retaining key employees is so important Four design variables of an incentive program for key personnel Difference between cash based and stock based incentive plans Different ways you can structure cash based incentive plans Ways to transition ownership financially to family members Tax implications for different incentive plans Key Employee Retention “The reality is that as an owner prepares for that inevitable transition, they recognize the importance of building as much value in the company as they can,” says Dyanne. There are many value drivers to look at when exit planning. Nothing is more important than recruiting, establishing, and retaining your “key bench.” This should be top priority well before talking about the sale or transition of your business. If you don’t have an employee retention or incentive program in place, you need to look into it ASAP! Key employees will help grow the company before the sale and make the actual deal more valuable because of their extensive knowledge and skill sets in the business. A solid employee retention program should be in place when these people are recruited and hired. You can assume that key performers will ask for it as a part of their compensation plans. Employee Incentive Plans If an employee retention or incentive plan is structured correctly, the plan will pay for itself. It should be a win-win for the business owner as well as ...