Elliot Holland's guest appearances

Elliot Holland

The Abhi Golhar Show

Seek Go Create

Simon Says

Business Roundtable

Jon Ostenson

Perry Marshall

Dan Miller

Nick Raithel

Amy Wolff

Tom Schwab

Emily Ley

Ted Benna

Joel Comm

Dan Wells

Benjamin Hardy

Kate Smith

Jay Papasan

Rashawn Copeland

Matt Tommey

OwlTail

Business acquisitions involve a multi-layered process that first-timers may find confusing. It may be risky, and some might even describe it as a gamble. But as with any actions you take in business, there are ways to mitigate risk. Do your due diligence, find out as much as you can, and what was once a challenge may become as easy as following a step-by-step manual.In this episode, Elliot Holland, founder of Guardian Due Diligence, joins our host, Tim Winders, to discuss business acquisition. He shares his tips on what to do and not do when it comes to the field of business. Elliot also shares his own story of struggles and how he ended up where he is today.If you want to know more about buying and selling businesses, tune in to this episode just for you!3 Reasons to Listen:Learn from Elliot's life lessons and journey to becoming a successful entrepreneur.Find out what you should know when buying or selling a business.Discover how humility and patience go a long way in business.ResourcesBorn on Third Base by Chuck CollinsBuy Then Build by Walker DeibelHBR Guide to Buying a Small Business by Richard S. RubackStanford Search Works CatalogElliot’s resourcesElliot on Twitter and his Znaplink.Visit our YouTube channelEpisode’s full-length episodeEpisode’s short clipAbout ElliotElliot Holland is an expert in the field of business acquisitions and private equity. He has spent more than a decade studying, working, and honing his expertise. Elliot has worked for The Watermill Group and Linx Partners before starting his own acquisition firm. Elliot earned a degree in mechanical engineering at Georgia Tech before he found his passion in business and studied at Harvard Business School. He founded Guardian to provide buyers with the help and guidance they need through the risky process of business deals and acquisitions.You can learn more about Elliot on Guardian Due Diligence’s website. Connect with him on Twitter and various platforms found here.Episode Highlights[03:29] What Elliot DoesElliot helps his clients buy small and medium businesses.He studied to be an engineer before attending Harvard's business school.After gaining experience, he started his private equity firm, where he found a problem in the market.Ellio started Guardian Due Diligence as a solution to his clients' needs in business acquisition.[06:28] The Complicated Path to BusinessElliot grew up in Detroit. He completed a general science degree at Morehouse College before getting his engineering degree at Georgia Tech.Georgia Tech would have helped for a career in engineering. However, Harvard Business School gave Elliot more opportunities in private equity.Elliot’s father did Small Business Administration loans and financing. His mother worked in a bank and municipal bonds.When his father died at 15, Elliot focused on getting a good education to make stable money.He experienced both the ups and downs of business with his family. Growing up with entrepreneur parents allowed him to grow up experiencing business.[15:07] Finding His PathIf Elliot could chat with his dad, he'd ask for his opinion on how he did in his life.He had to find his path without guidance and validation from his father.Going alone allowed him to go through life without worrying about the world's opinions. Instead, he receives validation from his faith, family, and friends.You can succeed regardless of your parents’ involvement.[18:02] “I guess the thing I would put out here is even if you don't have entrepreneurial parents, or your dad's not around, you're smart enough to get this stuff done.” - Click Here To Tweet This[18:55] Elliot’s Definition of Success and Money[19:10] “To me, success is achieving the goals you set for yourself without undermining your own integrity.” - Click Here To Tweet ThisFor Elliot, success means achieving your goals without losing your integrity.He measures success by maximizing his income per unit of freedom restricted. This method allows him to balance his personal priorities against his professional ones.Money gives people more freedom to choose. Someone with less money would be less able to prioritize their personal life over their work life.For Elliot, having more than enough gives him the freedom to focus on his priorities.Many of his clients feel the same. They want to have more freedom to be sustainable.[22:50] “I think money up to a certain level of sustainability, like being able to cover your bills, is really about covering your responsibilities. And I think money above that starts creating freedom for you and others and choice freedom to deliver and manifest your priorities on this planet.” - Click Here To Tweet This[24:50] The Struggles of the UnderprivilegedPeople of color have experienced too many injustices and difficulties in the name of fair treatment.Some demographics have it easier, while others, including black people, have struggled to reach the same level of treatment or success.Be aware of the advantages others may have and the difficulties of other groups.When Elliot went to Harvard, he couldn’t even compete with the children of influential people. He could only hope for an opportunity.[28:06] “I think it's just paramount that we recognize or have some consciousness of what other groups may have been through.” - Click Here To Tweet This[31:04] Elliot’s Harvard ExperienceElliot splits the people who went to Harvard into three types. First are the wealthy who can come out on top no matter what due to their family. There are also the people who may have come from nothing but had great experiences supporting them.Lastly are the folks who were able to somehow scrape their way in.Elliot didn’t let himself be distracted by the variety of people and their stories. Instead, he focused on doing his best there.[35:10] Working With Small and Medium BusinessesElliot makes an impact on small and medium-sized businesses. He’s able to help see deals through with due diligence.For Elliot, his clients are the coolest entrepreneurs. They are the people who have the drive to better their business and themselves.[35:41] “I am an enabler...through my company Guardian to take someone who just has the idea to do it, has the gumption to set enough time and resources aside to give themselves the ability to go through the process. I can take them from there to the finish line.” - Click Here To Tweet This[38:31] Running a Business to SuccessDon’t overpay for what you’re getting. However, don’t be too cheap as this can lead to failure.One of the best things you can do is use free or low-cost sources of information such as Twitter.Understand the risks when you invest.One big mistake people make is believing they can complete a long process in a short time. Be patient as you go through the process.Another mistake is being overconfident. Be humble.[44:35] Elliot’s StoriesOne of Elliot’s successful clients was planning to buy a country club and found a good deal. Realizing it’s out of their expertise, the buyer asks for his help with due diligence.A problem with the deal came up and, through the Due Diligence process, his client determined the best course of action. Another experience Elliot had with an impatient client led to the deal almost falling apart due to the buyer’s attitude.Fortunately, they were able to pull the deal back together. [49:20] What to Keep in Mind For Sellers and BuyersOne of the first things buyers should do is to find a reliable data source and learn more about it. Additionally, set aside your resources in preparation.Talk to both successful and unsuccessful people who you can also reach online. They can give you the best data.For sellers, be mindful of keeping your financial affairs in order. A consultation with a certified public accountant can help you smooth the process.Don't be greedy. Deliver the honor that you want to receive during the process.A person you hired for your finances can be easier to work with than the person your buyer paid to do the same.[56:10] The Field of BusinessElliot is wary about how artificial intelligence might wipe out many jobs from those who need it. A great thing happening in the business field is how resources can be easily accessible on the internet.Anyone willing to work hard can learn much and achieve a lot.The most sustainable businesses are the ones that can manage with the fewest resources.Similarly, the toughest people can push through despite smaller resources.[59:05] Elliot on CreatingElliot’s taking on his newest adventure and enjoying Columbia.Between the words "Seek," "Go," and "Create," Elliot chose "Create." If you have something to share, start creating content and resources.Enjoy the Podcast?Seek Go Create is for anyone seeking excellence, moving towards success, or creating something new. We share topics, stories, and conversations that allow us to rethink how we live, work, and lead.If you were inspired and educated by this episode, feel free to subscribe to us on Google Podcasts, Apple Podcasts, or Spotify so that you never miss another episode. Also, share this episode or what you’ve learned today on your favorite social media platform.Love to give us 5 stars? If you do, we’d love a review from you. By doing this, you can help us reach more people who want to redefine success in their lives.Connect with the SeekGoCreate Network! For updates and more episodes, visit our website or follow us on Facebook, Instagram, LinkedIn, Twitter, and YouTube.To growing and becoming all we are created to be,Tim

Business acquisitions involve a multi-layered process that first-timers may find confusing. It may be risky, and some might even describe it as a gamble. But as with any actions you take in business, there are ways to mitigate risk. Do your due diligence, find out as much as you can, and what was once a challenge may become as easy as following a step-by-step manual.In this episode, Elliot Holland, founder of Guardian Due Diligence, joins our host, Tim Winders, to discuss business acquisition. He shares his tips on what to do and not do when it comes to the field of business. Elliot also shares his own story of struggles and how he ended up where he is today.If you want to know more about buying and selling businesses, tune in to this episode just for you!<h2>3 Reasons to Listen:</h2><ol><li>Learn from Elliot's life lessons and journey to becoming a successful entrepreneur.</li><li>Find out what you should know when buying or selling a business.</li><li>Discover how humility and patience go a long way in business.</li></ol><h2>Resources</h2><ul><li><a href="https://www.amazon.com/Born-Third-Base-Inequality-Committing/dp/1603586830" rel="noopener noreferrer nofollow" target="_blank">Born on Third Base</a> by Chuck Collins</li><li><a href="https://www.amazon.com/Buy-Then-Build-Acquisition-Entrepreneurs/dp/1544501137/ref=sr_1_1?crid=1WAXVA8I5AI6E&amp;keywords=buy+then+build&amp;qid=1658753212&amp;s=books&amp;sprefix=buy+then+buil%2Cstripbooks-intl-ship%2C413&amp;sr=1-1" rel="noopener noreferrer nofollow" target="_blank">Buy Then Build</a> by Walker Deibel</li><li><a href="https://www.harvard.com/book/hbr_guide_to_buying_a_small_business_hbr_guide_series/" rel="noopener noreferrer nofollow" target="_blank">HBR Guide to Buying a Small Business</a> by Richard S. Ruback</li><li><a href="https://searchworks.stanford.edu/" rel="noopener noreferrer nofollow" target="_blank">Stanford Search Works Catalog</a></li><li>Elliot’s <a href="https://www.guardianduediligence.com/resources" rel="noopener noreferrer nofollow" target="_blank">resources</a></li><li>Elliot on <a href="https://twitter.com/ElliottEHolland" rel="noopener noreferrer nofollow" target="_blank">Twitter</a> and his <a href="https://www.guardianduediligence.com/" rel="noopener noreferrer nofollow" target="_blank">Znaplink</a>.</li><li>Visit our <a href="https://www.youtube.com/channel/UC-4BK0v7R7ZgOuaNRa3MrWA/" rel="noopener noreferrer nofollow" target="_blank">YouTube</a> channel</li><li>Episode’s <a href="https://www.youtube.com/watch?v=eAbVEvF62qE" rel="noopener noreferrer nofollow" target="_blank">full-length episode</a></li><li>Episode’s <a href="https://www.youtube.com/watch?v=LoL7hy46SSA" rel="noopener noreferrer nofollow" target="_blank">short clip</a></li></ul><h2>About Elliot</h2>Elliot Holland is an expert in the field of business acquisitions and private equity. He has spent more than a decade studying, working, and honing his expertise. Elliot has worked for The Watermill Group and Linx Partners before starting his own acquisition firm. Elliot earned a degree in mechanical engineering at Georgia Tech before he found his passion in business and studied at Harvard Business School. He founded Guardian to provide buyers with the help and guidance they need through the risky process of business deals and acquisitions.You can learn more about Elliot on <a href="https://www.guardianduediligence.com/" rel="noopener noreferrer nofollow" target="_blank">Guardian Due Diligence’s website</a>. Connect with him on <a href="https://twitter.com/ElliottEHolland" rel="noopener noreferrer nofollow" target="_blank">Twitter</a> and various platforms <a href="https://znap.link/elliotteholland" rel="noopener noreferrer nofollow" target="_blank">found here</a>.<h2>Episode Highlights</h2><h3>[03:29] What Elliot Does</h3><ul><li>Elliot helps his clients buy small and medium businesses.</li><li>He studied to be an engineer before attending Harvard's business school.</li><li>After gaining experience, he started his private equity firm, where he found a problem in the market.</li><li>Ellio started Guardian Due Diligence as a solution to his clients' needs in business acquisition.</li></ul><h3>[06:28] The Complicated Path to Business</h3><ul><li>Elliot grew up in Detroit. He completed a general science degree at Morehouse College before getting his engineering degree at Georgia Tech.</li><li>Georgia Tech would have helped for a career in engineering. However, Harvard Business School gave Elliot more opportunities in private equity.</li><li>Elliot’s father did Small Business Administration loans and financing. His mother worked in a bank and municipal bonds.</li><li>When his father died at 15, Elliot focused on getting a good education to make stable money.</li><li>He experienced both the ups and downs of business with his family. Growing up with entrepreneur parents allowed him to grow up experiencing business.</li></ul><h3>[15:07] Finding His Path</h3><ul><li>If Elliot could chat with his dad, he'd ask for his opinion on how he did in his life.</li><li>He had to find his path without guidance and validation from his father.</li><li>Going alone allowed him to go through life without worrying about the world's opinions. Instead, he receives validation from his faith, family, and friends.</li><li>You can succeed regardless of your parents’ involvement.</li></ul><blockquote>[18:02] “I guess the thing I would put out here is even if you don't have entrepreneurial parents, or your dad's not around, you're smart enough to get this stuff done.” - <a href="https://clicktotweet.com/Hmd2f" rel="noopener noreferrer nofollow" target="_blank">Click Here To Tweet This</a></blockquote><h3>[18:55] Elliot’s Definition of Success and Money</h3><blockquote>[19:10] “To me, success is achieving the goals you set for yourself without undermining your own integrity.” - <a href="https://clicktotweet.com/bLk4M" rel="noopener noreferrer nofollow" target="_blank">Click Here To Tweet This</a></blockquote><ul><li>For Elliot, success means achieving your goals without losing your integrity.</li><li>He measures success by maximizing his income per unit of freedom restricted. This method allows him to balance his personal priorities against his professional ones.</li><li>Money gives people more freedom to choose. Someone with less money would be less able to prioritize their personal life over their work life.</li><li>For Elliot, having more than enough gives him the freedom to focus on his priorities.</li><li>Many of his clients feel the same. They want to have more freedom to be sustainable.</li></ul><blockquote>[22:50] “I think money up to a certain level of sustainability, like being able to cover your bills, is really about covering your responsibilities. And I think money above that starts creating freedom for you and others and choice freedom to deliver and manifest your priorities on this planet.” - <a href="https://clicktotweet.com/8P7m_" rel="noopener noreferrer nofollow" target="_blank">Click Here To Tweet This</a></blockquote><h3>[24:50] The Struggles of the Underprivileged</h3><ul><li>People of color have experienced too many injustices and difficulties in the name of fair treatment.</li><li>Some demographics have it easier, while others, including black people, have struggled to reach the same level of treatment or success.</li><li>Be aware of the advantages others may have and the difficulties of other groups.</li><li>When Elliot went to Harvard, he couldn’t even compete with the children of influential people. He could only hope for an opportunity.</li></ul><blockquote>[28:06] “I think it's just paramount that we recognize or have some consciousness of what other groups may have been through.” - <a href="https://clicktotweet.com/166HD" rel="noopener noreferrer nofollow" target="_blank">Click Here To Tweet This</a></blockquote><h3>[31:04] Elliot’s Harvard Experience</h3><ul><li>Elliot splits the people who went to Harvard into three types. First are the wealthy who can come out on top no matter what due to their family. </li><li>There are also the people who may have come from nothing but had great experiences supporting them.</li><li>Lastly are the folks who were able to somehow scrape their way in.</li><li>Elliot didn’t let himself be distracted by the variety of people and their stories. Instead, he focused on doing his best there.</li></ul><h3>[35:10] Working With Small and Medium Businesses</h3><ul><li>Elliot makes an impact on small and medium-sized businesses. </li><li>He’s able to help see deals through with due diligence.</li><li>For Elliot, his clients are the coolest entrepreneurs. They are the people who have the drive to better their business and themselves.</li></ul><blockquote>[35:41] “I am an enabler...through my company Guardian to take someone who just has the idea to do it, has the gumption to set enough time and resources aside to give themselves the ability to go through the process. I can take them from there to the finish line.” - <a href="https://clicktotweet.com/HcgD9" rel="noopener noreferrer nofollow" target="_blank">Click Here To Tweet This</a></blockquote><h3>[38:31] Running a Business to Success</h3><ul><li>Don’t overpay for what you’re getting. However, don’t be too cheap as this can lead to failure.</li><li>One of the best things you can do is use free or low-cost sources of information such as Twitter.</li><li>Understand the risks when you invest.</li><li>One big mistake people make is believing they can complete a long process in a short time. Be patient as you go through the process.</li><li>Another mistake is being overconfident. Be humble.</li></ul><h3>[44:35] Elliot’s Stories</h3><ul><li>One of Elliot’s successful clients was planning to buy a country club and found a good deal. Realizing it’s out of their expertise, the buyer asks for his help with due diligence.</li><li>A problem with the deal came up and, through the Due Diligence process, his client determined the best course of action. </li><li>Another experience Elliot had with an impatient client led to the deal almost falling apart due to the buyer’s attitude.</li><li>Fortunately, they were able to pull the deal back together. </li></ul><h3>[49:20] What to Keep in Mind For Sellers and Buyers</h3><ul><li>One of the first things buyers should do is to find a reliable data source and learn more about it. Additionally, set aside your resources in preparation.</li><li>Talk to both successful and unsuccessful people who you can also reach online. They can give you the best data.</li><li>For sellers, be mindful of keeping your financial affairs in order. A consultation with a certified public accountant can help you smooth the process.</li><li>Don't be greedy. Deliver the honor that you want to receive during the process.</li><li>A person you hired for your finances can be easier to work with than the person your buyer paid to do the same.</li></ul><h3>[56:10] The Field of Business</h3><ul><li>Elliot is wary about how artificial intelligence might wipe out many jobs from those who need it. </li><li>A great thing happening in the business field is how resources can be easily accessible on the internet.</li><li>Anyone willing to work hard can learn much and achieve a lot.</li><li>The most sustainable businesses are the ones that can manage with the fewest resources.</li><li>Similarly, the toughest people can push through despite smaller resources.</li></ul><h3>[59:05] Elliot on Creating</h3><ul><li>Elliot’s taking on his newest adventure and enjoying Columbia.</li><li>Between the words "Seek," "Go," and "Create," Elliot chose "Create." </li><li>If you have something to share, start creating content and resources.</li></ul><h2>Enjoy the Podcast?</h2>Seek Go Create is for anyone seeking excellence, moving towards success, or creating something new. We share topics, stories, and conversations that allow us to rethink how we live, work, and lead.If you were inspired and educated by this episode, feel free to subscribe to us on <a href="https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vc2Vlay1nby1jcmVhdGUv" rel="noopener noreferrer nofollow" target="_blank">Google Podcasts</a>, <a href="https://podcasts.apple.com/us/podcast/seek-go-create/id1481874131" rel="noopener noreferrer nofollow" target="_blank">Apple Podcasts</a>, or <a href="https://open.spotify.com/show/4pnLpMwK6gGeTJvXvVam5z" rel="noopener noreferrer nofollow" target="_blank">Spotify</a> so that you never miss another episode. Also, share this episode or what you’ve learned today on your favorite social media platform.Love to give us 5 stars? If you do, we’d love a review from you. By doing this, you can help us reach more people who want to redefine success in their lives.Connect with the SeekGoCreate Network! For updates and more episodes, visit our <a href="https://seekgocreate.com/" rel="noopener noreferrer nofollow" target="_blank">website</a> or follow us on <a href="https://www.facebook.com/SeekGoCreate/" rel="noopener noreferrer nofollow" target="_blank">Facebook</a>, <a href="https://www.instagram.com/seekgocreate/" rel="noopener noreferrer nofollow" target="_blank">Instagram</a>, <a href="https://www.linkedin.com/company/seek-go-create-network/" rel="noopener noreferrer nofollow" target="_blank">LinkedIn</a>, <a href="https://twitter.com/SeekGoCreate" rel="noopener noreferrer nofollow" target="_blank">Twitter</a>, and <a href="https://www.youtube.com/channel/UC-4BK0v7R7ZgOuaNRa3MrWA" rel="noopener noreferrer nofollow" target="_blank">YouTube</a>.To growing and becoming all we are created to be,Tim

What You Need to Know About Business Acquisitions with Elliot Holland

BRT S03 EP15 (114) 4-10-2022 – Buying a Business Requires Due Diligence w/ Elliot Holland   Things We Learned This Week  When Buying a Business – Need Inspection (called due diligence) of the financials to determine what you are buying Quality of Earnings – financial audit of income statements, bank statements, taxes &amp; cash flow  Business Valuation is typically 3 – 4x Cash Flow / Profit 3 Outcomes Post Audit of financials: accurate – yes; middle – off 10-15%; fraud – no Startup Model (new biz) vs. Acquiring an Established Business or a Business Model (Franchise)         Guests: Elliot Holland of Guardian Due Diligence https://www.linkedin.com/in/elliottholland/ https://www.guardianduediligence.com/ Elliott Holland is a Harvard MBA alum and founder of Guardian Due Diligence, which specializes in helping everyday people acquire businesses as investments to optimize ROI and create new millionaires. He can walk your audience through the business buying process, how to approach due diligence, how long it really takes, what’s involved, and how it’s different than the DD process you might be used to in other asset classes or investment types (see more in attached one page overview). He stops his clients from buying bad businesses and expedites his clients' process to buy great businesses. These are million-dollar investments often backed by personal guarantees - so it hugely matters that people get it right.    Notes: Elliot – has an MBA and background in corporate world, worked in private equity for 8 years working business deals, then started Guard Due Diligence to consult Elliot compares himself to a Home Inspector except for business buyers He reviews financials to determine Quality of earnings, a financial audit, review P&amp;l, balance sheet, cash flow, bank statements, Quickbooks financials, taxes Process assumption is to not trust anything Business Seller gives you Due Diligence Process ETA – 6 weeks, get and review all docs, then deliver a report for the buyer to review with 50 – 200 items on a list and a summary 3 Outcomes Post Review of Due Diligence: Good: financials are accurate – rec of yes to buyer Middle: financials off 10-15%, rec to buyer to negotiate the price or terms Bad: Financials have bug issues, business may be a fraud – rec of no to buyer   Example of Sale Price - $2 million purchase w/ cash flow of $500 K, paying 4x CF (or 3 – 4x profit), make your money $ back in 4 years  Average Business Sale is $5 million in revenue w/ 5-30 employees in biz Private Equity sale could be $50 - $100 million w/ thousands of employees in biz   Elliot works with past Executives (or Entrepreneur) looking to buy a cash flowing business, usually in late 30s or 40s (age)   SBA Loan example – put down 20 % or $200K on a $2 mil purchase, then a loan of  $1.8 mil  w/ a Personal Guaranty   Broke line vs. bad business ? Negotiation - M&amp;A type advising,  if profit sales #’s are less than shown in financials, then negotiate the price down (15%) or a seller note of 3-5 years, and Keep owner 1 yr vs. 3 months. Business Owner who is selling probably leaves after 3 months. GM &amp; other staff likely stay. Max ROI – if buyer belives there is potential in the business to grow, may pay more for the business and keep owner for 2 years in advisory role. Guardian Due Diligence has a Sample Report of process to download at their website Other website - https://www.offerfromelliott.com/   3 Things to Consider before you go to Buy a Business: How much can you buy (afford) ? What Industries and actual Location (City or State) interest you? Are You Prepared for a Life Change?     Guest: Denver Nowicz, President - Wealth For Life http://wealthforlife.net/ https://www.linkedin.com/in/denvernowicz https://twitter.com/denvernowicz   Denver is an advisor with nearly 20 years experience working with clients in investments and insurance, designing retirement plans with a combo of both. He takes us through different strategies for clients to get the best allocations for their money over the long term. It is the Combo Strategy of both Offense and Defense, the synergy of the mix, not ‘All or Nothing’.   Notes: Acquire Assets and work to create income streams (passive if possible) Taxes – largest expense for most professionals, what is your tax plan? Investing analysis, consider time lines, fees and taxes Executive leaves corporate world &amp; decides to buy a business, first have a financial cushion, have monthly expenses covered, means less stress   Determine what is the monthly burn rate for money – ie monthly expenses, new business owners will have both personal and business expenses during business ramp up Passive vs. Active management for investments – passive is somewhat of a myth Tax team and advice, be protective with tax setup Corporate setup  - S Corp or C Corp S Corp = pass through earnings to business owner C Corp = business tax rate of 21% on earnings Write offs and depreciation of equipment Expansion plan and cash flow File self employed vs. S Corp., good to file as C Corp if larger sized company, $1 million or more Financing options – for established business or business model (franchise) is easier as you have cash flow from the business vs. startup with no revenue (need personal assets) If business has revenue / cash flow – banks will accept Build asset classes with income rental income with real estate stocks that appreciate, also can invest in stocks that pay dividends Passive investing – Less connection and distance to a deal, less risk and less work, but also less return. When you receive lump sum money or sell real estate or business – break up tax burden by setting up a trust first. Deferred sales trust – sell through a trust and pay taxes over a 10 year period Loans and lines of credit on assets like stocks or real estate Loans not reported as income and loan interest rate is lower than tax rate. Set up in 3 tax buckets – 1. Taxed (income)  2. Tax deferred (401K)  3. Tax free Use each bucket as needed. Learn the tax offset strategies and put yourself in tax free position. Real estate write offs and depreciation to save tax – check rules. Can refinance and pull money out of a property – not taxed. Check with professionals, CPA’s and attorney before doing any of this.       BRT Clip from Seg. 2 of 12/5/2021 Guest: Jon Ostenson, w/ Franbridge Consulting https://franbridgeconsulting.com/ https://www.linkedin.com/in/jonostenson Jon Ostensen discusses the Franchise industry on multiple levels; from being a broker, to purchasing a franchise, to investing and also the operation side of running your own. He gives numerous examples of opportunities in franchising - How much does it cost, the buy in process, and realizing franchises are more than just food opps. Jon is a consultant, owner/investor, author (The Franchise Path), and international speaker specializing in the area of non-food franchising. He serves as CEO of FranBridge Consulting where he helps clients in the process of introducing them to opportunities from the over 300 high growth brands that he represents. Additionally, Jon oversees FranBridge Capital where he and his partners own 18 territories across 5 property service franchises.   Full Show:  Here     Business Buying Topic:  https://brt-show.libsyn.com/category/Private+Equity-Valuation-MandA-Franchise-Business+Broker   Investing Topic:  https://brt-show.libsyn.com/category/Investing-Stocks-Bonds-Retirement   Link to Taxes Show on 10/31/2021 w/ Denver: Here Link to Offense / Defense Show on 6/6/2021 w/ Denver: Here Link to Shows, Denver was a Guest: Here   ‘Best Of’ Topic: https://brt-show.libsyn.com/category/Best+of+BRT   Thanks for Listening. Please Subscribe to the BRT Podcast.     Business Roundtable with Matt Battaglia The show where Entrepreneurs, High Level Executives, Business Owners, and Investors come to share insight and ideas about the future of business. BRT 2.0 looks at the new trends in business, and how classic industries are evolving.  Common Topics Discussed: Business, Entrepreneurship, Investing, Stocks, Cannabis, Tech, Blockchain / Crypto, Real Estate, Legal, Sales, Charity, and more…  BRT Podcast Home Page: https://brt-show.libsyn.com/ ‘Best Of’ BRT Podcast: Click Here BRT Podcast on Google: Click Here BRT Podcast on Spotify: Click Here More Info: https://www.economicknight.com/podcast-brt-home/ KFNX Info: https://1100kfnx.com/weekend-featured-shows/   Disclaimer: The views and opinions expressed in this program are those of the Hosts, Guests and Speakers, and do not necessarily reflect the views or positions of any entities they represent (or affiliates, members, managers, employees or partners), or any Station, Podcast Platform, Website or Social Media that this show may air on. All information provided is for educational and entertainment purposes. Nothing said on this program should be considered advice or recommendations in: business, legal, real estate, crypto, tax accounting, investment, etc. Always seek the advice of a professional in all business ventures, including but not limited to: investments, tax, loans, legal, accounting, real estate, crypto, contracts, sales, marketing, other business arrangements, etc.

BRT S03 EP15 (114) 4-10-2022 – Buying a Business Requires Due Diligence w/ Elliot Holland Things We Learned This Week <ul> <li>When Buying a Business – Need Inspection (called due diligence) of the financials to determine what you are buying</li> <li>Quality of Earnings – financial audit of income statements, bank statements, taxes &amp; cash flow </li> <li>Business Valuation is typically 3 – 4x Cash Flow / Profit</li> <li>3 Outcomes Post Audit of financials: accurate – yes; middle – off 10-15%; fraud – no</li> <li>Startup Model (new biz) vs. Acquiring an Established Business or a Business Model (Franchise)</li> </ul> Guests: Elliot Holland of Guardian Due Diligence <a href="https://www.linkedin.com/in/elliottholland/" rel="nofollow" target="_blank">https://www.linkedin.com/in/elliottholland/</a> <a href="https://www.guardianduediligence.com/" rel="nofollow" target="_blank">https://www.guardianduediligence.com/</a> Elliott Holland is a Harvard MBA alum and founder of <a href="http://www.guardianduediligence.com/" rel="noopener nofollow" target="_blank">Guardian Due Diligence</a>, which specializes in helping everyday people acquire businesses as investments to optimize ROI and create new millionaires. He can walk your audience through the business buying process, how to approach due diligence, how long it really takes, what’s involved, and how it’s different than the DD process you might be used to in other asset classes or investment types (see more in attached one page overview). He stops his clients from buying bad businesses and expedites his clients' process to buy great businesses. These are million-dollar investments often backed by personal guarantees - so it hugely matters that people get it right.  Notes: Elliot – has an MBA and background in corporate world, worked in private equity for 8 years working business deals, then started Guard Due Diligence to consult Elliot compares himself to a Home Inspector except for business buyers He reviews financials to determine Quality of earnings, a financial audit, review P&amp;l, balance sheet, cash flow, bank statements, Quickbooks financials, taxes Process assumption is to not trust anything Business Seller gives you Due Diligence Process ETA – 6 weeks, get and review all docs, then deliver a report for the buyer to review with 50 – 200 items on a list and a summary 3 Outcomes Post Review of Due Diligence: Good: financials are accurate – rec of yes to buyer Middle: financials off 10-15%, rec to buyer to negotiate the price or terms Bad: Financials have bug issues, business may be a fraud – rec of no to buyer Example of Sale Price - $2 million purchase w/ cash flow of $500 K, paying 4x CF (or 3 – 4x profit), make your money $ back in 4 years  Average Business Sale is $5 million in revenue w/ 5-30 employees in biz Private Equity sale could be $50 - $100 million w/ thousands of employees in biz Elliot works with past Executives (or Entrepreneur) looking to buy a cash flowing business, usually in late 30s or 40s (age)   SBA Loan example – put down 20 % or $200K on a $2 mil purchase, then a loan of  $1.8 mil  w/ a Personal Guaranty Broke line vs. bad business ? Negotiation - M&amp;A type advising,  if profit sales #’s are less than shown in financials, then negotiate the price down (15%) or a seller note of 3-5 years, and Keep owner 1 yr vs. 3 months. Business Owner who is selling probably leaves after 3 months. GM &amp; other staff likely stay. Max ROI – if buyer belives there is potential in the business to grow, may pay more for the business and keep owner for 2 years in advisory role. Guardian Due Diligence has a Sample Report of process to download at their website Other website - <a href="https://www.offerfromelliott.com/" rel="nofollow" target="_blank">https://www.offerfromelliott.com/</a> 3 Things to Consider before you go to Buy a Business: How much can you buy (afford) ? What Industries and actual Location (City or State) interest you? Are You Prepared for a Life Change? Guest: Denver Nowicz, President - Wealth For Life <a href="http://wealthforlife.net/" rel="nofollow" target="_blank">http://wealthforlife.net/</a> <a href="https://www.linkedin.com/in/denvernowicz" rel="nofollow" target="_blank">https://www.linkedin.com/in/denvernowicz</a> <a href="https://twitter.com/denvernowicz" rel="nofollow" target="_blank">https://twitter.com/denvernowicz</a> Denver is an advisor with nearly 20 years experience working with clients in investments and insurance, designing retirement plans with a combo of both. He takes us through different strategies for clients to get the best allocations for their money over the long term. It is the Combo Strategy of both Offense and Defense, the synergy of the mix, not ‘All or Nothing’. Notes: Acquire Assets and work to create income streams (passive if possible) Taxes – largest expense for most professionals, what is your tax plan? Investing analysis, consider time lines, fees and taxes Executive leaves corporate world &amp; decides to buy a business, first have a financial cushion, have monthly expenses covered, means less stress   Determine what is the monthly burn rate for money – ie monthly expenses, new business owners will have both personal and business expenses during business ramp up Passive vs. Active management for investments – passive is somewhat of a myth Tax team and advice, be protective with tax setup Corporate setup  - S Corp or C Corp S Corp = pass through earnings to business owner C Corp = business tax rate of 21% on earnings Write offs and depreciation of equipment Expansion plan and cash flow File self employed vs. S Corp., good to file as C Corp if larger sized company, $1 million or more Financing options – for established business or business model (franchise) is easier as you have cash flow from the business vs. startup with no revenue (need personal assets) If business has revenue / cash flow – banks will accept Build asset classes with income rental income with real estate stocks that appreciate, also can invest in stocks that pay dividends Passive investing – Less connection and distance to a deal, less risk and less work, but also less return. When you receive lump sum money or sell real estate or business – break up tax burden by setting up a trust first. Deferred sales trust – sell through a trust and pay taxes over a 10 year period Loans and lines of credit on assets like stocks or real estate Loans not reported as income and loan interest rate is lower than tax rate. Set up in 3 tax buckets – 1. Taxed (income)  2. Tax deferred (401K)  3. Tax free Use each bucket as needed. Learn the tax offset strategies and put yourself in tax free position. Real estate write offs and depreciation to save tax – check rules. Can refinance and pull money out of a property – not taxed. Check with professionals, CPA’s and attorney before doing any of this. BRT Clip from Seg. 2 of 12/5/2021 Guest: Jon Ostenson, w/ Franbridge Consulting <a href="https://franbridgeconsulting.com/" rel="nofollow" target="_blank">https://franbridgeconsulting.com/</a> <a href="https://www.linkedin.com/in/jonostenson" rel="nofollow" target="_blank">https://www.linkedin.com/in/jonostenson</a> Jon Ostensen discusses the Franchise industry on multiple levels; from being a broker, to purchasing a franchise, to investing and also the operation side of running your own. He gives numerous examples of opportunities in franchising - How much does it cost, the buy in process, and realizing franchises are more than just food opps. Jon is a consultant, owner/investor, author (The Franchise Path), and international speaker specializing in the area of non-food franchising. He serves as CEO of FranBridge Consulting where he helps clients in the process of introducing them to opportunities from the over 300 high growth brands that he represents. Additionally, Jon oversees FranBridge Capital where he and his partners own 18 territories across 5 property service franchises. Full Show: <a href="https://brt-show.libsyn.com/brt-s02-ep49-96-12-5-2021-the-franchise-model-acquiring-a-proven-business-model-vs-building-a-startup" rel="nofollow" target="_blank"> Here</a> Business Buying Topic: <a href="https://brt-show.libsyn.com/category/Private+Equity-Valuation-MandA-Franchise-Business+Broker" rel="nofollow" target="_blank"> https://brt-show.libsyn.com/category/Private+Equity-Valuation-MandA-Franchise-Business+Broker</a> Investing Topic: <a href="https://brt-show.libsyn.com/category/Investing-Stocks-Bonds-Retirement" rel="nofollow" target="_blank"> https://brt-show.libsyn.com/category/Investing-Stocks-Bonds-Retirement</a> Link to Taxes Show on 10/31/2021 w/ Denver: <a href="https://brt-show.libsyn.com/brt-s02-ep-44-91-10-24-21-taxes-are-going-up-how-to-grow-your-wealth-using-the-right-tax-buckets" rel="nofollow" target="_blank">Here</a> Link to Offense / Defense Show on 6/6/2021 w/ Denver: <a href="https://brt-show.libsyn.com/brt-s02-ep22-70-6-6-2021-why-you-need-both-offense-and-defense-in-your-financial-strategy" rel="nofollow" target="_blank">Here</a> Link to Shows, Denver was a Guest: <a href="https://brt-show.libsyn.com/size/5/?search=denver" rel="nofollow" target="_blank">Here</a> ‘Best Of’ Topic: <a href="https://brt-show.libsyn.com/category/Best+of+BRT" rel="nofollow" target="_blank">https://brt-show.libsyn.com/category/Best+of+BRT</a> Thanks for Listening. Please Subscribe to the BRT Podcast. Business Roundtable with Matt Battaglia The show where Entrepreneurs, High Level Executives, Business Owners, and Investors come to share insight and ideas about the future of business. BRT 2.0 looks at the new trends in business, and how classic industries are evolving.  Common Topics Discussed: Business, Entrepreneurship, Investing, Stocks, Cannabis, Tech, Blockchain / Crypto, Real Estate, Legal, Sales, Charity, and more…  BRT Podcast Home Page: <a href="https://brt-show.libsyn.com/" rel="nofollow" target="_blank">https://brt-show.libsyn.com/</a> ‘Best Of’ BRT Podcast: <a href="https://brt-show.libsyn.com/category/Best+Of" rel="nofollow" target="_blank">Click Here</a> BRT Podcast on Google: <a href="https://podcasts.google.com/feed/aHR0cHM6Ly9icnQtc2hvdy5saWJzeW4uY29tL3Jzcw?sa=X&amp;ved=0CAMQ4aUDahcKEwiQ0_bx39jvAhUAAAAAHQAAAAAQAw&amp;hl=en" rel="nofollow" target="_blank">Click Here</a> BRT Podcast on Spotify: <a href="https://open.spotify.com/show/7n3EjXVZYv3ruTLrdmrJWM" rel="nofollow" target="_blank">Click Here</a> More Info: <a href="https://www.economicknight.com/podcast-brt-home/" rel="nofollow" target="_blank">https://www.economicknight.com/podcast-brt-home/</a> KFNX Info: <a href="https://1100kfnx.com/weekend-featured-shows/" rel="nofollow" target="_blank">https://1100kfnx.com/weekend-featured-shows/</a> Disclaimer: The views and opinions expressed in this program are those of the Hosts, Guests and Speakers, and do not necessarily reflect the views or positions of any entities they represent (or affiliates, members, managers, employees or partners), or any Station, Podcast Platform, Website or Social Media that this show may air on. All information provided is for educational and entertainment purposes. Nothing said on this program should be considered advice or recommendations in: business, legal, real estate, crypto, tax accounting, investment, etc. Always seek the advice of a professional in all business ventures, including but not limited to: investments, tax, loans, legal, accounting, real estate, crypto, contracts, sales, marketing, other business arrangements, etc.

BRT S03 EP15 (114) 4-10-2022 –  Buying a Business Requires Due Diligence w/ Elliot Holland

Nick Keller

Elliot Holland/Guardian Due Diligence Elliot Holland is the founder of Guardian Due Diligence, a boutique firm that leads due diligence processes for family offices, investors and private equity firms. Their focus is finance, accounting, operations, and legal diligence. They’ve helped companies like Three Arrows Group, Trilogy Investment Group, The Watermill Group, and Karmijn Capital execute […]The post SIMON SAYS, LET’S TALK BUSINESS: Elliot Holland of Guardian Due Diligence and Nick Keller of Prinovus International appeared first on Business RadioX ®.

Elliot Holland/Guardian Due Diligence Elliot Holland is the founder of Guardian Due Diligence, a boutique firm that leads due diligence processes for family offices, investors and private equity firms. Their focus is finance, accounting, operations, and legal diligence. They’ve helped companies like Three Arrows Group, Trilogy Investment Group, The Watermill Group, and Karmijn Capital execute […] The post SIMON SAYS, LET’S TALK BUSINESS: Elliot Holland of Guardian Due Diligence and Nick Keller of Prinovus International appeared first on Business RadioX ®.

SIMON SAYS, LET’S TALK BUSINESS: Elliot Holland of Guardian Due Diligence and Nick Keller of Prinovus International