On today’s episode of Business Insanity Talk Radio, we’ll force you to think about your exit strategy because planning your exit strategy over time will be a key factor in determining your legacy and ultimate financial success. Next, we’ll talk to a serial entrepreneur to find out what he has learned from starting five businesses that we all should know. Then, can doing good really be good for business? The answer is yes and we’ll show you why! After, we talk to the vice president of a family business who is sharing his secrets to success. Lastly, a practicing physician is here to educate us small business owners on the best, most nutrient-rich diet to battle stress and fatigue.
Listen and enjoy:
Segment 1: Dr. Pamela Dennis has helped some of the world’s top leaders successfully lead their organizations—like Jeff Immelt, at GE and Eric Schmidt at Google. She speaks to international and national organizations on leadership and change, with the emphasis on leading transitions.
2:00 – Why is an exit strategy so important for small business owners?
3:00 – Why do only 13% of owners have exit plans when everyone needs one?
3:55 – What are three things business owners can do to get started on an exit plan?
6:15 – How should business owners plan for the exit strategy of passing it to his/her children?
8:30 – How to plan the hand-off to children over time.
9:30 – Why Pamela wrote a book on exit strategies for Boomers or “late stage business owners”.
Segment 2: Hamid Shojaee is addicted to the high of making products that people love to use. Along the way, he’s made a couple of companies including Axosoft and Pure Chat and has helped Arizona’s tech scene create its voice with AZTechBeat.com. He’s passionate not only about achieving financial success in business, but also success in health and wellness as an owner and also for his employees.
15:15 – What have you learned from starting 5 software businesses?
16:30 – When do you know if your business is going to be successful?
17:15 – Why being an entrepreneur isn’t for everyone.
18:15 – As an entrepreneur, what are some of the biggest challenges you’ve seen small businesses face today?
19:45 – Sales and marketing tactics that increase the probability of small business success online.
21:30 – Why does live chat software work?
24:00 – How do small businesses implement live chat software and what does it cost?
Segment 3: David Arison serves on two major boards at the Arison Group, a global business and philanthropic group operating in 40 countries across five continents. As part of the senior executive team of an established multi-generational family, David’s position centers on representing his family’s shared legacy and values, which stem from the vision of Doing Good.
31:15 – Does a small business owner have to choose between doing well and doing good?
32:20 – How can they accomplish both?
33:30 – What is the history behind the family’s “Doing Good is Good Business” model?
35:30 – How can small business owners adapt this model?
Segment 4: Steve Cohen is Vice President and General Counsel at James H. Cohen and Sons, Inc. They are a dealer in rare coins, currency and antique arms and armor, operating on Royal Street in New Orleans’ French Quarter since 1898.
41:00 – Why does the coin industry work better in brick and mortar stores than online?
41:55 – What are “high-end” coins? What are the most valuable coins?
43:15 – How does James H. Cohen and Sons set their prices? What factors affect their profitability?
45:00 – How does inventory work in the coin industry?
45:45 – What is the secret sauce of a successful family business?
Segment 5: Dr. Carla Hightower is a physician and the founder of Living Health Works, a health coaching service. Dr. Hightower teaches individuals to use plant-based nutrition to prevent and reverse chronic diseases. She writes a blog on the subject of “food as medicine” at livinghealthworks.com
49:50 – Can food really affect the way you feel every day? What does the optimal diet consist of?
50:45 – What is the best way to transition from an unhealthy lifestyle to a healthy one?
51:15 – How does food eliminate chronic pain?
52:15 – Carla shares how plant-based nutrition has changed her life.