Listen to “#621 The Essential Longevity Plan for Every Small Business” on Spreaker.
On this episode of The Small Business Radio Show…
SEGMENT 1 with Patrick Colletti, starting at 0:00: We all know what it means to be a founder of a business, but what is a Refounder? How can you be one?
SEGMENT 2 with Seth Kaplowitz, starting at 17:45: 2020 was a rough year for small businesses. We now know that we need to build a business with a longevity plan in place. How can you look beyond what’s happening day-to-day and remain focused on both exit and financing opportunities?
SEGMENT 3 with Ed Michael Reggie, starting at 36:30: One industry that has never been covered on this radio show is the funeral industry. It’s quite an interesting business that will never lose its customer base. What are the innovations happening in this space?
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More on each segment below.
Segment 1: Patrick Colletti is a leadership and organizational culture expert, champion for “refounders” and author of the upcoming leadership book “Refounder”.
1:15 – What is a Refounder?
3:00 – Who are some common examples of Refounders?
5:30 – What are the four characteristics of Refounders?
8:00 – Do founders have a difficult time working with Refounders?
9:30 – What have you learned throughout your journey as a Refounder?
10:45 – The current CEO of Microsoft is an example of a famous Refounder.
12:30 – Where can a small business founder look for a Refounder to help them and vise versa?
Segment 2: Seth Kaplowitz is an attorney in New York City, with over 20 years of experience practicing at law firms and as in-house counsel to an international private equity firm. Seth founded Kaplowitz Firm in 2012 in order to bring his practical and legal experience directly to businesses and entrepreneurs, and to foster an environment where clients would be treated more like partners than customers.
17:45 – What does it mean to treat your clients more like partners than customers?
21:15 – Why don’t more businesses focus on a longevity plan?
22:45 – What should be in a small business owner’s longevity plan?
24:00 – What you need in order to comply with local, state and federal regulations.
26:30 – Advice for dealing with suppliers, vendors, or any contracted outside resources during difficult circumstances.
28:00 – What small business owners need to know about website/e-commerce considerations/privacy policies terms and conditions of use.
31:00 – How are you advising clients to mitigate legal risks associated with COVID?
Segment 3: Ed Michael Reggie is the founder and CEO of Funeralocity.com, the largest free comparison website of funeral home and cremation prices and services.
36:30 – Why people tend to make poor financial decisions when planning a funeral.
40:00 – Why are funerals so expensive in America?
43:30 – Why funeral homes do not list prices online.
45:00 – How Funeralocity.com has brought transparency to the industry.
48:30 – What changed to funeral planning during the pandemic?
49:30 – What advice do you have for consumers when planning funerals?
50:45 – What are the current trends in funerals?
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