#355 Exit Strategy, Serial Entrepreneurs, Doing Good is Good Business, Family Business Success, and Health Coaching

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.

Sponsored by Sage, Nextiva, and Pure Chat.

By | December 11th, 2015|Radio Show|Comments Off on #355 Exit Strategy, Serial Entrepreneurs, Doing Good is Good Business, Family Business Success, and Health Coaching

About the Author:

Barry Moltz gets business owners unstuck by unlocking their long forgotten potential. With decades of entrepreneurial experience in his own business ventures, he has discovered the formula to get stuck business owners and increasing their sales. Barry has founded and run small businesses with a great deal of success and failure for more than 20 years. After successfully selling his last operating business, Barry founded an angel investor group, an angel fund, and is a former advisory member of the board of the Angel Capital Education Foundation. His first book, “You Need to Be A Little Crazy: The Truth about Starting and Growing Your Business” describes the ups and downs and emotional trials of running a business. His second book, “Bounce! Failure, Resiliency and the Confidence to Achieve Your Next Great Success”, shows what it takes to come back and develop true business confidence. His third book, “BAM! Delivering Customer Service in a Self-Service World” shows how customer service is the new marketing. His fourth book, “Small Town Rules: How Small Business and Big Brands can Profit in a Connected Economy” shows how when every customer can talk to every other customer, it’s like living in a small town: Your reputation is everything! His fifth book, “How to Get Unstuck: 25 Ways to Get Your Business Growing Again” helps every small business owners move their company to the next level. Barry is a nationally recognized speaker on small business who has given hundreds of presentations to audiences ranging in size from 20 to 20,000. As a member of the Entrepreneurship Hall of Fame, he has appeared on many TV and radio programs such as CNBC’s The Big Idea, and MSNBC’s Your Business. He hosts his own radio show on AM560, and writes for American Express and Forbes.