Category: Retirement
3 Things to Make Your Business Worth More (Ep. 6)

3 Things to Make Your Business Worth More (Ep. 6)

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Want to your business but you’re not sure how to maximize its value?

In this episode, Josh Ackerman dives deep into three of the eight key drivers of business value to help you prepare for a successful business sale. From maintaining consistent financial performance to planning for growth potential and ensuring a neutral “Switzerland structure,” you’ll learn how you can fetch a higher sale price. Tune in to get actionable tips on improving your business’s market worth.

Josh discusses: 

  • Why consistency in earnings makes your business more attractive to buyers
  • How you can demonstrate that your business can continue to grow even after you step away
  • How the Switzerland Structure avoids dependence on any single customer, supplier, or employee to make your business more resilient and appealing.
  • Preparing your business for sale at least two to three years in advance to ensure a smooth transition and maximize its value
  • And more

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Preparing for the Biggest Financial Transition of Your Life with David Hulett (Ep. 5)

Preparing for the Biggest Financial Transition of Your Life with David Hulett (Ep. 5)

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Are you ready to learn how to maximize the value of your business before selling?

In this episode, Josh Ackerman invites David Hulett, a partner at Corporate Finance Associates of Kentucky and an investment banker who specializes in business sales. They discuss critical steps and considerations for business owners contemplating a sale, from initial preparations to final negotiations. David emohasizes the importance of planning your ‘day after,’ maintaining business performance, and understanding market valuations – all key to maximizing your sale’s success.

Josh and David discuss: 

  • Why it’s necessary to prepare years in advance and understanding your business’s value
  • Why it’s important to know what you’ll do the day after selling your business
  • The importance of not retiring early to keep business metrics strong
  • How long the process typically takes and why it often surprises business owners
  • How painting a compelling growth story can significantly impact your sale price
  • And more

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About our Guest: 

David Hulett is a Managing Director at CFA Kentucky, a middle market Mergers and Acquisition firm located in Lexington, Kentucky. David has considerable experience in investments, strategic planning for business owners and is an experienced entrepreneur. His advisory skills combine years of investment experience with hands-on knowledge of small businesses.

As an owner/operator of a small business, David can easily relate to CFA Kentucky’s clients and prospective clients. As an experienced consultant to many small businesses, David has guided multiple business owners through the transition process. With David’s broad background, he is well qualified to address the capital challenges facing today’s entrepreneurs.

In addition to working in the financial sector, David owns and operates Hilltop Marine, a boat dealership in Bronston, Kentucky. When he isn’t working, he enjoys boating, shooting at the gun range, Krav Maga training, and spending time with his wife, Beth, and two daughters, Haley and Abbey.

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The True Wealth Process: More Than Just Numbers (Ep. 4)

The True Wealth Process: More Than Just Numbers (Ep. 4)

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Unlock Your Financial Future Beyond the Numbers. Discover how the True Wealth process goes beyond traditional financial planning by prioritizing your life’s goals and aspirations.

Today’s episode unpacks Money Quotient’s innovative True Wealth process, aiming to transform financial planning beyond traditional number-crunching by focusing on your values, goals, and true happiness. Josh Ackerman breaks down the comprehensive five-step planning process, from initial exploration to empowering clients to achieve their ideal life. He explains how this process facilitates meaningful conversations, helps clarify financial priorities, and ensures your financial plan aligns with your vision of a fulfilling life.

Josh discusses: 

  • How to prioritize your life goals and aspirations, transcending traditional financial planning
  • His five-step planning process, designed to align your financial strategies with your values
  • How focusing on creating a vision of your ideal life can significantly impact your financial satisfaction and overall happiness
  • And more

Resources:

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Questions Business Owners Should Ask Before Selling (Ep. 3)

Questions Business Owners Should Ask Before Selling (Ep. 3)

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Imagine realizing the lifestyle you worked so hard for won’t be sustainable after selling your business. Today, we review some key questions business owners often overlook before making irrevocable financial decisions.

In this episode of Transition Talks, Josh Ackerman dives into the often-overlooked questions many business owners should ask themselves, or their financial advisor before considering an exit. Through stories that piqued his interest in working with business owners, Josh highlights the importance of understanding your true financial needs and planning early for a smooth transition. 

Josh discusses: 

  • How much a business owner needs to exit
  • Understanding real lifestyle costs before accepting a business sale offer
  • Planning for business transitions early enough that plans can be put in place
  • The importance of planning for a fulfilling life post-business sale
  • And more

By joining Josh Ackerman in this insightful episode, you’ll gain practical advice and thought-provoking questions that can shape a more secure and fulfilling future after selling your business. 

For more advice and to start your transition planning today, connect with Josh Ackerman:

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Inside Context Financial: Guiding Family Businesses Through Change (Ep. 2)

Inside Context Financial: Guiding Family Businesses Through Change (Ep. 2)

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What makes Context Financial uniquely equipped to handle family business transitions?

In this episode of Transition Talks, Josh Ackerman talks about what makes Context Financial uniquely equipped to guide family businesses through significant transitions. He shares the company’s history, founded by his father in 2000, and emphasizes the importance of understanding client context. Josh explains the focus on helping family businesses navigate ownership transitions, whether to the next generation or external buyers. He also highlights the team’s dedication to building trust and understanding client goals from the first meeting.

Josh discusses: 

  • The company origins of Context Financial
  • Context Financial’s focus on helping family businesses prepare for a transition, whether internal or external
  • Why Context Financial’s approach to understanding your business’s unique context can make all the difference
  • The importance of understanding client goals and maintaining trust
  • How clients’ first meeting with Context Financial is a no-pressure, exploratory conversation about your needs and our services
  • And more

Resources:

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FEATURE
Getting to Know Josh Ackerman: Why Financial Advising? (Ep. 1)

Getting to Know Josh Ackerman: Why Financial Advising? (Ep. 1)

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Are you ready to navigate the complexities of business exits and retirement strategies?

It’s a significant life change that many aren’t fully prepared for. That’s why it’s so important to find and work with an advisor who’s the right fit for you.

Welcome to the inaugural episode of Transition Talks with Josh Ackerman, where he shares his journey of becoming a financial advisor and the motivation behind it. From personal anecdotes about growing up in a financially divided household to embracing his calling, Josh shares his journey into financial advising and the critical lessons he learned. Explore how tailored financial advice, built on a foundation of trust and personal understanding, can lead to a successful client-advisor relationship and business exit or transition.

Josh discusses: 

  • The motivations behind becoming a financial advisor and the journey from selling life insurance to offering comprehensive financial planning services
  • The importance of a personalized approach in financial planning and the dynamics of client-advisor relationships
  • How understanding financial planning from two polar opposite parental viewpoints offers unique insights into dealing with clients
  • The challenges and opportunities in preparing family-owned businesses for transition, encompassing both internal transfers and sales to external buyers
  • Why tailored advice and finding the right advisor-client fit enhances the chance of a successful transition
  • The critical need for early planning in business exit strategies and the potential impact of demographic shifts on business transition trends
  • And more

Connect with Josh Ackerman: 

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