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DealQuest Podcast with Corey Kupfer

Author: Corey Kupfer

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Why do some companies grow by leaps and bounds while others only inch forward? Simple. They embrace Deal-Driven Growth in addition to organic growth! DealQuest is where you learn how to strategize, prepare for, find, and complete deals to grow your company faster.Listen in as host Corey Kupfer takes you behind the scenes with some of the world’s most fascinating deal-savvy business leaders. This is the one place where they can share openly the secret to deals they have done (or failed to do) and the issues, opportunities, benefits, pitfalls and lessons learned.Here you learn first-hand all about:Powerful deals that require little capital Mergers, acquisitions, and tuck-insJoint ventures, partnerships, and strategic alliancesLicensing, raising capital and onboarding key employeesNegotiating, structuring, finding, valuing, closing and integrating dealsDon’t be the one at the table who doesn’t grasp the power of Deal-Driven Growth! See acast.com/privacy for privacy and opt-out information.
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To continue with our DealQuest Podcast project of remastering key episodes in the DealQuest Podcast library, I am bringing you a remaster of another early episode, a solocast that discusses the importance of patience, pacing, asking questions, and maintaining relationships in negotiations. This remaster couldn’t come at a more perfect time, either, as many of the recent episodes have heard from our amazing guests on these exact topics. This remastered episode serves as a timeless reminder of the fundamental principles that underpin successful negotiations. PATIENCE AND PACINGPatience is not just a virtue; it's a strategic imperative. When faced with a client in distress, it's tempting to rush into action. The prudent approach, however, is to take a step back, gather information systematically, pose pertinent questions, and attentively listen to the opposing viewpoint. This method lays the groundwork for a robust negotiation strategy. Equally crucial is pacing. Each negotiation possesses its unique rhythm, and it's essential to respect this cadence. Understanding the pace in a negotiation is key to maintaining momentum and avoiding potential issues. Artificially pushing or slowing the pace can put you at a disadvantage and reduce the chances of a good deal. As a negotiator, experience helps in recognizing the conversation flow and using it to your advantage. Questions are a powerful tool in negotiations, but they are often underutilized. THE ART OF ASKING QUESTIONSTo achieve successful negotiations, one must understand the importance of asking questions, listening to answers, and being patient. This approach helps in understanding the other party's concerns, allows for useful information exchange, and enables fulfilling their needs. Imagine this: you're in the midst of a negotiation, and tensions are high. This is where asking questions becomes your superpower. It's not just about gathering information; it's about truly understanding where the other party is coming from. By asking the right questions and really listening to their responses, even when you disagree, you're showing that you value their perspective and are genuinely interested in finding common ground. BUILDING AND MAINTAINING RELATIONSHIPSBuilding and maintaining relationships means establishing trust and rapport. It's about respecting the other party's viewpoint, actively listening to what they have to say, and showing a genuine willingness to collaborate towards a win-win outcome. Why does this matter? Well, for starters, it keeps the conversation flowing, even when things get tough. By fostering a respectful and professional relationship, you create an environment where disagreements can be addressed head-on and solutions can be found. Building relationships also opens doors to valuable insights. By asking the right questions and really tuning in to the other party's needs, you gain a deeper understanding of what makes them tick. This knowledge becomes your secret weapon in finding creative solutions and identifying areas where compromise is possible. After all, building and nurturing relationships isn't just about shaking hands—it's about laying the groundwork for trust and respect. • • • For my full discussion, and more on this topic and topics not featured on this blog post:Listen to the Full DealQuest Podcast Episode Here Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast.  Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today!
Fellow entrepreneur, dealmaker and podcast host, Noah Graff, joins us this week for a discussion on treasure-hunting, brokering M&A deals, and roles of relationships in business. Noah is multi-faceted and experienced dealmaker, having traversed around the globe, procuring and distributing used machinery. Beyond his jet-setting global deals, Noah’s prowess extends into the realm of M&A, with his company, Graff-Pinkert, orchestrating numerous successful acquisitions and mergers in the precision machining industry. Not content with his already bustling schedule, Noah also channels his passion for the industry through his work as a blogger and editor for Today’s Machining World, a premiere B2B platform serving the precision machining community. Rounding out his distinguished list of feathers in his proverbial hard hat, Noah also boasts the title of podcast host for Today’s Machining World’s podcast, Swarfcast, a podcast with a goal of being “a bold, creative, and unorthodox attempt [at] bringing the drama and magic of the machining and manufacturing world to readers who appreciate something informative and fun.” Noah is most certainly a visionary leader, and relentless advocate for professional excellence through the Swarfcast podcast. THE POWER OF SERENDIPITY IN BUSINESS DEALS We’ve discussed more than once on the DealQuest Podcast the importance of building relationships and making connections in the business world. Noah takes it a step further in his personal business ethos by placing emphasis on the value of personal connections and how they can lead to the best deals. Noah’s background leads him to look for deals with a treasure-hunter mindset; the treasure being a successful, serendipitous deal. Paired with his focus on relationships within business, his approach to deals has fostered two concepts: “serendipity bombs” and “serendipity hooks”. “Serendipity bombs” is where one makes their own luck by reaching out to multiple potential partners or buyers to increase the chance of finding the right – and arguably best – fit for a deal. By widening the scope of potential buyers simultaneously instead of one at a time, Noah believes, that you can effectively generate your own luck and be more efficient at finding the most successful deal. “Serendipity hooks” are merely certain things one can do in a conversation to make important information be revealed. It’s not just about being a good listener in conversations, because if you’re letting a person do all the talking, Noah believes, you’re going to learn important things, of course, but sometimes you need to say certain things for important details to come out For example: Asking very specific questions or sharing more personal information can lead to important connections and opportunities. Ones that may not have presented themselves had not you not been proactive in cultivating your relationships, which can greatly impact one’s ability to create successful deals. EMBRACING MINDFULNESS AND SERENDIPITY FOR SUCCESSEmbracing mindfulness and serendipity for success involves being open to the opportunities that present themselves and being mindful of the connections and coincidences that occur in everyday life. It's about being present, aware, and ready to seize opportunities when they arise. For Noah, that means becoming a “serendipity magnet”, which involves actively seeking, seeing, and seizing new opportunities at every chance. It’s about creating a mindset that attract serendipitous moments and being open to the unexpected connections and opportunities that come your way. As mentioned before, being a “serendipity magnet” also involves making effort to creating your own luck – and this can be achieved by placing “serendipity bombs” and “serendipity hooks” out into the universe. By remaining proactive and practicing these important serendipity-focused concepts, Noah is capable of building remarkable opportunities in both personal and professional endeavors – the power of which can be greater than the traditional conquest of deals. Noah's wisdom serves as a guiding light in navigating the complexities and opportunities of deal-driven growth for entrepreneur and business leaders alike. • • • For my full discussion with Noah Graff, and more on this topic and topics not featured on this blog post:Listen to the Full DealQuest Podcast Episode Here• • • FOR MORE ON NOAH GRAFF:https://graffpinkert.com https://www.linkedin.com/in/noah-graff-b7169a1/ Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast.  Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today!
This week’s guest, Gina Cocking, is a highly accomplished CEO with a wealth of experience in investment banking, finance, and executive leadership. With a career that spans prestigious firms, such as Kidder Peabody, Madison Dearborn Partners, J.P. Morgan & Co., and Colonnade Advisors, Gina has honed her expertise in financial services and business operations. Her extensive background includes serving as the Chief Financial Officer of Cobalt Finance and Healthcare Laundry Systems, where she successfully oversaw the sale to a strategic acquirer. Gina's board membership at CIB Marine Bancshares, Inc. showcases her commitment to driving growth and value in the banking industry. With a strong educational foundation from the University of Chicago and multiple securities licenses, Gina brings a unique blend of strategic insight and financial acumen to her role as CEO. For her remarkable accomplishments and background, it’s pleasure to pick her brain on the secrets of deals, and deal-driven growth. THE IMPORTANCE OF PREPARATION IN DEAL-MAKINGPreparation in deal-making is crucial for ensuring a successful outcome. With her extensive experience in banking and as a CFO of various companies, Gina understand the importance of being well-prepared before entering into any transaction. Companies must be organized and ready for the due diligence process, as it can make a significant difference in the success of a deal – or its failure. Being well-prepared not only increases the chances of a successful outcome, but also helps in avoiding potential issues and conflicts during the deal-making process. For this reason, Gina focuses heavily on coaching clients and potential clients on how to ready for the transactions. Preparation begins far before even engaging with an investment bank. Gina’s proactive approach includes: Organizing files Digitizing documents Ensure all licenses are in order THE MINDSET OF A DEAL-MAKERWhile many may think that every businessperson thinks with the mindset of a deal-maker, you’d be surprised to learn that there are a fair few who are more focused on thinking of organic business growth. A deal-maker's mindset encompasses the ability to identify and pursue opportunities for growth through deals. Possessing a deal-maker’s mindset and focusing heavily on creating deal-driven growth includes strategic approach to identifying and capitalizing on opportunities for growth through mergers, acquisitions, and strategic alliances. This mindset requires a deep understanding of the deal-making process, and the ability to navigate the complexities of negotiations and due diligence. A deal-maker’s mindset also includes the ability to handle the pressures and responsibilities that come with deal-driven growth. A deal-maker must be able to handle the financial and operational implications of the deals they pursue, as well as the potential risks and uncertainties that come with them. A deal-maker should strive to be: Resilient Adaptable In it for the long-term Capable of focusing on the ultimate goal of driving business growth and value creation through successful deals THE IMPACT OF FREEDOM ON BUSINESS AND DEAL MAKINGThere are both personal and professional implications of freedom in the context of deal-driven growth and entrepreneurial endeavors, When individuals have the freedom to make their own choices, it can lead to a sense of empowerment and drive within the business. This can result in a more dynamic and innovative approach to deal-making, as individuals are able to take ownership of their decisions and drive the business forward. With freedom, however, also comes responsibility and pressure. The freedom to make decisions means that individuals are accountable for the outcomes, and this can create a sense of urgency and drive to ensure successful deal-making. To acquire Gina Cocking’s team through Colonnade Advisors, be sure to check out their website, and sign up for their distribution list: https://coladv.com/ • • •For my full discussion with Gina Cocking, and more on this topic and topics not featured on this blog post:Listen to the Full DealQuest Podcast Episode Here• • • FOR MORE ON GINA COCKING:https://www.linkedin.com/in/ginacocking/http://www.site2.com Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast.  Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today!
Matt Putra is a seasoned Chief Financial Officer with a proven track record of scaling, transforming, and financing small and medium-sized businesses. As an accomplished Fractional CFO specializing in eCommerce companies and agencies, Matt brings invaluable financial expertise to the table. His impressive portfolio includes successful collaborations with Eightx, Tru Earth, The Turmeric, and Lusomé, where he played a crucial role in ensuring their financial prosperity. Beyond his role as a Fractional CFO, Matt also serves as a Co-Owner, CFO, and COO at Keep Nature Wild, showcasing his multifaceted capabilities. With a keen ability to approach deals from various angles and a knack for creative problem-solving, Matt ensures that businesses not only survive but thrive by exploring unconventional ways to structure deals, offering unique perspectives on collateral, and crafting deal terms that benefit all parties involved. OPTIMIZING RELATIONSHIPS WITH BOARD INVESTORS In the world of business, it's crucial to ensure that board investors are knowledgeable about the company's financial status without getting too deep into the details. This delicate balance can be achieved through effective financial reporting and communication. By providing board investors with accurate and relevant information, companies can build trust and confidence, ultimately optimizing the relationship for successful business deals. There is great significance of showing acquirers that the company knows how to budget and stick to a budget, as well as demonstrating the ability to meet projections and expectations. Transparency is necessary here, as well as financial discipline and strategic goal setting to optimize relationships with board investors. IMPACT OF FINANCIAL PREPARATION ON COMPANY VALUATIONThere are several key factors that impact a company’s valuation: Proper financial preparation (including budgeting, system analysis, and EBITDA evaluation) Having clean and accurate bookkeeping Understanding tax exposure Optimizing financial and operational systems By demonstrating a strong understanding of financial metrics and implementing best practices, businesses can increase their profitability and overall value. Additionally, addressing governance and cleanup issues through meticulous financial preparation can mitigate concerns during due diligence processes, positively impacting potential deals and investments. On the contrary, there are deal-killing consequences of not having proper financial records. This is where having a strong CFO comes in. They will provide financial analysis, strategic planning, and have governance to optimize margins, streamline operations, and prepare the company for growth and potential sale. LEVERAGING FINANCIAL SERVICES FOR GROWTH AND FREEDOMEngaging financial services, such as CFO support, bookkeeping, and financial analysis, can empower entrepreneurs to make informed decisions and drive business growth. These services not only ensure compliance with government regulations but also provide strategic insights for optimizing business operations, identifying growth opportunities, and achieving financial freedom. By leveraging financial expertise, entrepreneurs can navigate deals, acquisitions, and capital raises with confidence and efficiency. The meticulous preparation and reporting of financial information are critical components of successful business deals, valuations, and overall business growth. By prioritizing financial transparency, leveraging professional financial services, and maintaining a strategic focus, companies can optimize relationships with investors, enhance their valuation, and ultimately achieve greater freedom and success in the business world. • • • For my full discussion with Matt Putra, and more on this topic and topics not featured on this blog post:Listen to the Full DealQuest Podcast Episode Here• • • FOR MORE ON MATT PUTRA:https://www.linkedin.com/in/mattputra/https://eightx.co Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast.  Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today!
In my journey as the host of the DealQuest Podcast, I've delved into a myriad of deals, engaging with diverse personalities. Every episode is put together with the intent to share strategies for business growth, aiming to enrich and empower entrepreneurs, business owners, and leaders like you. My mission is to explore untapped avenues and innovative approaches to business growth, ensuring every listener is equipped with insights and tools to expand their horizons and elevate their enterprises to new heights.Often, the discourse is saturated with talks of mergers, acquisitions, and raising capital. While these are fundamental, my objective with the DealQuest Podcast and community extends to opening alternative pathways to business growth, transforming the quintessential entrepreneurial mindset to embody the dealmaker spirit. THE STRATEGY OF RELATIONSHIPSAs I sift through my countless interactions over the years, a recurring theme emerges – the struggle to reconcile the entrepreneurial essence with the dealmaker’s pragmatism. It is a meticulous balance of identity preservation and strategic evolution.Geographic expansion, market penetration, or demographic diversification – the goals are as varied as the entrepreneurs navigating these waters. Beneath the diversity, however, lies a universal truth – the need for strategic collaborations and partnerships not out of necessity, but strategic foresight.Navigating this landscape, the question is not ‘how’, but ‘what’. What is the business conundrum you’re grappling with? For example: The opportunity knocking at your doorstep? Or, the untapped market echoing with the sounds of potential? In the heart of these questions lies the core of strategic alliances and joint ventures waiting to be brought to fruition. LICENSING AND DIVERSIFYING YOUR BUSINESS GROWTH STRATEGYLicensing is not just an avenue for brand exposure; it’s a strategic tool that unlocks passive income streams and fosters exponential growth. It’s more than affixing a renowned brand name to a product — it’s about creating and leveraging brand equity, ensuring that each collaboration enhances and protects the brand’s value.As a business owner, your perspective on licensing can shape your growth trajectory. A technology that takes months, if not years, to develop can be seamlessly integrated into your product or service offering through a strategic licensing agreement, significantly reducing time-to-market and operational costs. EXPANDING YOUR GROWTH STRATEGIES FOR MORE OPPORTUNITIESEvery entrepreneur and business leader must ask themselves: Is your growth strategy diverse enough? If deals are on your radar, are they varied or limited to one or two types? There’s a spectrum of possibilities waiting to be explored, each tailored to unique business objectives and landscapes.For instance, if a full acquisition seems out of reach or misaligned with your current goals, consider joint ventures or early investments. There's an art to utilizing these “steppingstones” to build relationships and potentially pave the way for future mergers or acquisitions.Whether you're looking to harness an untapped opportunity or address a persistent pain point, consider the plethora of deal structures that can propel your business towards its objectives. In the world of deals, variety isn’t just the spice of life; it’s the catalyst for innovation, expansion, and unprecedented growth. • • • For my full discussion, and more on this topic and others discussed not featured on this blog post:Listen to the Full DealQuest Podcast Episode Here Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast. If you want to start getting yourself deal-ready, check out the DealQuest Podcast with Corey Kupfer each week. Featuring industry leaders and newcomers as guests alike, the DealQuest podcast has something for everyone.
Note: I want to share a brief content warning to my readers and listeners regarding this episode with guest Elliot Kallen. While Elliot’s story is powerful and important, there is discussion of teenage mental health and self-harm. If you or someone you know is struggling, please see below for resources. Elliot Kallen stands as an exemplar of leadership, leveraging a profound wealth of expertise amassed over three decades in entrepreneurial endeavors and financial advisory services. With a commitment to excellence, Elliot is the driving force behind Prosperity Financial Group, Inc., drawing from his experience as a CEO of two other companies and an international business builder. Beyond his prowess in the financial realm, Elliot is a sought-after keynote speaker, gracing platforms for charities, podcasts, and radio shows to share insights on motivation, leadership, charitable initiatives, marketing strategies, and diverse financial topics. Notably, he serves as the President of A Brighter Day Charity, a 501c(3) organization born from personal tragedy—the loss of his youngest son, Jake, in 2015. A Brighter Day Charity's outreach has profoundly impacted numerous families, solidifying its role as a beacon of hope in the lives of teens and parents alike. THE POWER OF EMPATHY IN ENTREPRENEURSHIPA word you don’t hear frequently when discussing business and dealmaking is “empathy”. Elliot, however, has made it a goal of his to implement this emotion into his business and dealmaking. In fact, he believes it is a crucial trait for entrepreneurs, as it allows them to truly understand and connect with their clients' needs and aspirations. By utilizing empathy within his business and dealmaking, Elliot is enabled to build some of the strongest relationships with his clients. By genuinely caring about his clients’ well-being and success – going so far as to treat them as family – he creates a unique and approachable experience that is unmatched in the financial advisory industry. THE IMPORTANCE OF PERSEVERANCE IN ENTREPRENEURSHIPElliot is no stranger to challenges, not just in his professional life, but also in his personal life. These challenges have highlighted the importance of perseverance for Elliot – and it should be something that all entrepreneurs learn. Perseverance is a crucial trait for entrepreneurs to possess and cultivate. The path of entrepreneurship is often filled with challenges, setbacks, and failures. It requires the ability to keep going despite these obstacles and maintain a relentless pursuit of success. Without perseverance, many entrepreneurs would give up at the first sign of difficulty, missing out on the opportunities and growth that come from pushing through adversity. Frankly put, perseverance is sometimes what separates successful entrepreneurs from those who fall short. A BRIGHTER DAY – RESOURCES TO HELP TEENAGERS IN NEEDMost of us are no stranger to the unbearable weight of mental health and stress. Each year, teenagers face depression and other mental health issues alone, but we need to step up for our youth and let them know they’re not alone. That’s why Elliot started his charity, A Brighter Day. A Brighter Day is a mental health resource that focuses on providing resources and support for teens and their families who are dealing with stress and depression. The aim of A Brighter Day is to prevent teen suicide, and as such, they have been able to reach thousands of families each month with their resources. To learn more about A Brighter Day, please visit their website: https://abrighterday.info  If you or someone you know is struggling, please reach out for help: National Suicide Prevention Hotline: Dial 988 Mental Health Community Services: Dial 211 Immediate Emergency Services: Dial 911  • • •For my full discussion with Elliot Kallen, and more on this topic and topics not featured on this blog post:Listen to the Full DealQuest Podcast Episode Here• • •FOR MORE ON ELLIOT KALLEN:https://www.linkedin.com/in/elliotkallen/Get Elliot Kallen’s new, best-selling book: Driven: How to Elevate Your Success and Entrepreneur Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast.  Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today!
Ryan Tansom's remarkable journey from reviving his family's $21 million business to its 8-figure sale in 2014 exemplifies his entrepreneurial prowess. As the founder of Arkona and creator of the Intentional Growth™ Framework, he has redefined how entrepreneurs manage their businesses as financial assets, combining educational training with fractional CFO services. A mentor to over 400 entrepreneurs and a sought-after speaker at prestigious forums like Vistage Worldwide and Entrepreneurs Organization, Ryan also hosts the popular Intentional Growth™ podcast, featuring notable guests and amassing over 520k downloads. His story is a beacon of inspiration and strategic insight in the entrepreneurial landscape. Intentional GrowthIn 2019, Ryan created the Intentional Growth Academy. The academy was born out of Ryan's personal experience of reviving his father's business and facilitating its sale. He realized the importance of understanding the value of a business and making intentional decisions to grow and create wealth. The Intentional Growth™ Academy is designed to help middle market entrepreneurs understand and implement the principles of intentional growth in their businesses. The program covers topics such as: Vision planning. Financial targets. Exit options. Value growth. Team building. The goal of the academy is to empower entrepreneurs to make informed decisions and build businesses that create wealth and make an impact.The Five Principles of Intentional GrowthRyan's Intentional Growth™ Academy is built on five key principles that guide entrepreneurs in their pursuit of enterprise value: Vision: Clearly define what you want from your business and understand the why behind your goals. This clarity enables you to make strategic decisions aligned with your long-term vision. Financial Targets: Determine your target equity valuation and desired distributions. By setting specific financial goals, you can create a roadmap for growth and measure progress along the way.   Exit Options: Explore various exit strategies, such as internal transfers, ESOPs, private equity, and strategic acquisitions. Understanding the different deal structures and their impact on your legacy and role allows you to choose the best option for your business. Grow Value: Invest in areas of your business that de-risk cash flow and increase its value. By focusing on factors like sustainable profitability, customer diversification, and operational efficiency, you can enhance the attractiveness of your business to potential buyers. Hire the Right Team: Surround yourself with advisors who understand your goals and can help you navigate the complexities of deals, taxes, estate planning, and more. Building a team of experts ensures that you have the right guidance and expertise to make informed decisions. By adopting the five principles outlined in the Intentional Growth™ Academy, entrepreneurs can create enterprise value, make strategic decisions, and ultimately achieve their long-term goals. Whether you're a seasoned business owner or just starting out, embracing intentional growth can transform your business and unlock its full potential. Get started with The Intentional Growth™ Starter Kit today!The Intentional Growth™ Starter Kit • • •For my full discussion with Ryan Tansom, and more on this topic and topics not featured on this blog post:Listen to the Full DealQuest Podcast Episode Here• • • FOR MORE ON RYAN TANSOM:https://arkona.io/ https://www.linkedin.com/in/ryan-tansom-4a440710/ Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast.  Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today!
As the leader of Dynasty Financial Partners' Investment Banking division, Harris brings over 15 years of financial services experience to the table. His career journey is marked by significant achievements, including a successful stint at UBS Investment Bank, where he played a pivotal role as an Executive Director in the Financial Institutions Group. During his time at UBS, he was instrumental in originating, leading, and executing strategic M&A and capital market transactions exceeding $10 billion, specifically focusing on the asset and wealth management industry. I’m excited to share Harris’ expertise with you, while discussing the evolving landscape of RIA M&A, as well as discussing equity, industry skepticisms, and what the future looks to have in store for the space. THE SHIFT TO INORGANIC GROWTH STRATEGIESThere is an important mindset shift necessary for advisors moving from organic to inorganic growth strategies. This shift often happens internally, for example, when an advisor excels and seeks equity in the firm, leading CEOs to seek valuation guidance. Other times, it’s about friendly deals between neighboring RIAs or advisors seeking to join a former colleague’s firm. Organic growth, characterized by internally driven expansion such as acquiring new clients or increasing assets under management, is a familiar terrain for most advisors. The shift to inorganic growth, however, such as mergers and acquisitions (M&A), requires a different strategic approach and mindset. Inorganic growth often involves complex negotiations, valuations, and integration processes that aren't typically encountered in organic expansion. THE VALUE OF EQUITY IN M&A TRANSACTIONSHarris also touched on the critical role of equity in M&A transactions. In a high interest rate market, cash is king, but equity can be an even more valuable currency. This is especially true when smaller firms merge with larger ones, allowing for a 'second transaction' opportunity as the larger entity grows and scales. The successful realization of value from equity stakes in M&A transactions relies not only on the timing and execution of the initial deal, but determining whether these equity stakes can be monetized profitable also relies on: The ongoing performance and strategic direction of the merged entity The overall health of the industry Market conditions The strategic decisions made post-merger INDUSTRY SKEPTICISMWhile optimistic about the future, Harris also acknowledged the skepticism surrounding the industry, citing examples like Focus Financial and United Capital. The success or failure of equity models in the RIA space will largely depend on how these transactions are structured and the strategic decisions of the firms involved. He suggests that a careful approach, focusing on long-term value rather than short-term gains, will be crucial for the success of these equity plays. Harris’ insights into the RIA market highlight the importance of strategic thinking and adaptability in a rapidly evolving industry. His emphasis on the psychological aspects of deal-making, the strategic use of equity, and the need for disciplined underwriting underscores the complexity of modern investment banking in the RIA space. As the industry moves forward into 2024 and beyond, the lessons shared by Harris will undoubtedly play a critical role in shaping the future of RIA mergers and acquisitions. • • • For my full discussion with Harris, and more on this topic and topics not featured on this blog post:Listen to the Full DealQuest Podcast Episode Here• • • FOR MORE ON HARRIS BALTCH:https://dynastyinvestmentbank.com/team/harris-b/https://www.linkedin.com/in/harrisbaltch/ Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast.  Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today!
With a distinguished career spanning over 25 years, Brian Meegan has been a formidable presence in corporate law, representing U.S. and multinational clients with finesse in a multitude of business transactions. His expertise encompasses M&A, business structuring, contract negotiation, and a suite of other corporate matters including real estate, financing, and governance. Brian's acumen has not only been recognized by his peers but also by prestigious rankings, with his former firm, Evergent Law, earning a spot among America's top law firms for corporate law in Colorado. What makes Brian's journey particularly compelling to me is his recent strategic decision to merge Evergent Law into Kupfer & Associates as of January 1, 2024 – a move that signifies a new chapter both for him and the firm. This merger marks an evolution of Kupfer & Associates including its rebranding to Kupfer., and solidifies Brian's role as my partner, joining forces to scale new heights. It is with immense pleasure and anticipation for the future that I introduce Brian Meegan as my partner at Kupfer. — as well as a guest on the first DealQuest podcast episode of 2024. The Human Element in Deal-MakingWhile contracts and legal framework are essential in deal-making, they are not sufficient to ensure successful partnerships and deals. Enter the human element of deal-making. Building trust, effective communication, and aligning expectations are crucial for establishing strong relationships between parties. Brian sees himself as a “freedom facilitator” for his clients. This means that he aims to help his clients achieve freedom through his legal counsel. He wants to assist them in navigating legal issues and finding solutions that allow them to have more freedom in their personal and professional lives. This makes Brian more than just an advisor who identifies risks and provides explanations. He engages in more personal conversations with his clients, understands their unique situations, and offers guidance based on his own experiences and perspectives. By doing so, he hopes to empower his clients to make informed decisions and take actions that align with their goals and values. Deal Structures and Risk MitigationDeal structures can change based on various factors, such as financing options and market conditions. Deal structuring includes a lot of technical aspects, but Brian believes it’s important to get creative with deal structuring. After the COVID-19 pandemic began, we began to see more and more flexibility in deal-making. As the market conditions changed, both buyers and sellers had to be open to new ideas and approaches. This meant being willing to negotiate on price, structure, and terms to find mutually beneficial solutions. It required a high level of adaptability and a focus on building trust and strong relationships.The goal of risk mitigation is to protect the parties involved and increase the likelihood of a successful outcome. There is a need, however, to balance risk mitigation with the upside opportunity of the deal. Taking risks is often necessary for business success and, in fact, a business cannot thrive without some level of risk-taking. Staying creative in deal structures, as well as being confident and balanced in the risks you take is the epitome of the entrepreneurial mindset. These beliefs and practices of Brian’s is just one of many reasons why I’m honored to be a partner with him in business. • • • For my full discussion with Brian Meegan, and more on this topic and topics not featured on this blog post:Listen to the Full DealQuest Podcast Episode Here• • • FOR MORE ON BRIAN MEEGAN:https://www.linkedin.com/in/briandmeegan/ Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast.  Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today!
DealQuest Community, as the holiday season approaches, I find myself contemplating the concept of an ideal life. It's a question that often lingers in our minds, especially during this time of year when we reflect on the past and look towards the future. The truth is, tomorrow is not promised, and we have witnessed countless examples of this in our own lives and in the world around us. It serves as a stark reminder that we must strive to live our ideal lives now, rather than waiting for some distant future. In the context of the DealQuest podcast, I ponder how deals can help us achieve our ideal lives. Deals, in all their forms, have the potential to drive growth and create opportunities for us to live the lives we truly desire. Whether it's a merger, capital raising, joint venture, or even a small-scale agreement, deals can be transformative if approached with intention and purpose. As someone who has been involved in deal-driven growth for over three decades, I have witnessed firsthand the power of strategic deals in propelling businesses forward. But deals are not just about financial gain or expansion; they are about aligning our actions with our deepest desires and values. It is crucial to ask ourselves why we are pursuing certain deals and whether they truly contribute to our ideal lives. The holiday season provides an opportunity for introspection. It is a time to evaluate the choices we have made and to envision a brighter future. We must question our motivations and ensure that our deals are not driven solely by external forces or societal expectations. Instead, they should be in harmony with our authentic selves and the lives we genuinely want to create. Building a business or making investments should not be solely for the sake of growth or validation. It should be a means to craft the life we desire. I recall a theme from my EO forum years ago that focused on the "ideal life now." It's a powerful concept that reminds us to seize the present moment and make the most of it. Tomorrow is uncertain, and we owe it to ourselves to live our ideal lives today. As we reflect on the past year and prepare for the new one, let us consider how we can have more of our ideal lives now. Deals can play a significant role in this pursuit. They can be the catalysts for growth, fulfillment, and alignment with our vision and values. By embracing deals that resonate with our deepest desires, we can create a life that is truly meaningful and purposeful. Happy holidays and may the new year bring you closer to the freedom and prosperity that your deal quest holds. • • • For my full discussion, and more on this topic and topics not featured on this blog post: Listen to the Full DealQuest Podcast Episode Here Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast. Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today!
DealQuest Community, several episodes ago, I introduced a project we’ve been working on – remastering early episodes of the DealQuest podcast into new life. I’m excited to bring you yet again another remastered episode from the start of this podcast. This episode is with a good friend of mine, David Bach, owner of FinishRich Media, and 10x New York Times Bestselling Author.David has authored 13 books, including bestsellers like Smart Women Finish Rich, Smart Couples Finish Rich, and The Automatic Millionaire. At the date of original airing, David’s most recent book was The Latte Factor: Why You Don’t Have to Be Rich to Live Rich. Unlike his previous works, The Latte Factor is a parable that can be read in about an hour. Its primary aim is to inspire millennials, Generation Z, and generations to come to take control of their financial futures, even in the face of student loans and credit card debt. TAKING CONTROLDavid has made a name for himself by helping individuals take control of their financial futures. In this engaging conversation, they delve into David's journey, his principles of financial literacy, and his approach to making successful deals.To start, there is importance of having a clear mission in the world of personal finance. David’s journey began with the mission to educate and empower women to be smarter with their money. Through books like Smart Women Finish Rich, he started a lifelong commitment to financial education.Bach's core principles include automating savings, paying oneself first, and making small changes in spending habits to achieve significant results. He practices what he preaches: Ensuring that he aligns his actions with his mission. LEVERAGING LICENSING DEALS FOR RESIDUAL INCOMEOne of David's distinctive approaches is his focus on licensing deals. Instead of offering one-time consulting or training services, he creates valuable intellectual property (IP) that can be licensed repeatedly. This strategy allows him to amplify the impact of his mission while generating ongoing licensing fees, resulting in residual income. David’s key lessons from licensing deals include: Protect Your IP: Trademark and protect your intellectual property to safeguard your unique content. Seek Mission-Aligned Partnerships: Partner with organizations that share your mission and goals for a win-win collaboration. Think Long-Term: Focus on licensing arrangements that offer ongoing revenue rather than one-time project fees. CHARACTERISTICS OF A GREAT DEALMAKERWe often discuss on this podcast what truly makes a dealmaker. According to David, a dealmaker should possess certain characteristics: Optimism: dealmakers are optimists who believe in creating win-win situations for all parties involved. Flexibility: They can adapt to the needs and wants of others while pursuing their objectives. Due Diligence: It's crucial to research the people and companies you're dealing with to ensure alignment and integrity. Authenticity: dealmakers should be authentic negotiators, transparent about their goals and expectations. Incorporating these characteristics into their approach, dealmakers like David can navigate complex negotiations, build lasting partnerships, and achieve their missions while benefiting all parties involved.David's journey from financial literacy advocate to successful dealmaker is a testament to his authenticity, mission-driven approach, and commitment to empowering others – all of the things that not just David, but many other leaders in the space, believe is what makes a great dealmaker. His story serves as an inspiration to all those looking to create wealth, live authentically, and make a positive impact on the world of finance. • • •For my full discussion with David Bach, and more on this topic and topics not featured on this blog post:Listen to the Full DealQuest Podcast Episode Here• • • FOR MORE ON DAVID BACH:https://www.linkedin.com/in/david-bach/https://davidbach.com/ Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast. Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today!
This week on the DealQuest Podcast, I had the pleasure to host guest Brett Martin, co-founder of Kumospace, a virtual office software for teams and events. Kumospace takes the unique experience of in-office work – where there is culture and community – and brings it to a post-COVID world, where working from home is commonplace. Furthermore, he is the Co-Founder & Managing Partner of Charge Ventures, a pre-seed-focused venture fund. When it comes to business in the technology age, success often depends on a combination of entrepreneurial vision and technological innovation – and Brett embodies this dynamic spirit of entrepreneurship and technology. Brett truly is at the forefront of reshaping the way we work and invest in the digital age. WORK IN THE TECHNOLOGY AGEIn a post-pandemic world, the concept of work has undergone a profound transformation. Remote work, once seen as a novelty, has become a mainstream way of conducting business. This opens the way for innovative solutions to emerge, and bridge the gap between virtual teams. One such solution is Kumospace, the brainchild of Brett himself. The pandemic forced many companies to reevaluate their traditional office setups. Even those not traditionally seen as tech-savvy, like law firms, found themselves having to adapt to the virtual workspace. Brett’s own journey into the world of remote work began in 2012, where he realized that most meetings could be conducted virtually. The shift towards remote work has highlighted the need for technology that not only enables remote collaboration but also fosters a sense of connection and engagement among team members. Companies as well are looking for unified solutions that can bring together various remote work tools and create a seamless experience for distributed teams. This new paradigm demands more than just a collection of disparate tools; it calls for integrated platforms like Kumospace. YOUR OFFICE… IN YOUR COMPUTER?Certainly, we’ve all heard the joke “This could have been an email,” instead of making a commute to work for a quick meeting. Kumospace solves that sentiment, requiring a person to merely open their computer to get the memo. Kumospace is not just another video conferencing platform – it's a virtual office, literally. Imagine a digital workspace where your team can gather, collaborate, and communicate seamlessly, as if they were physically present in the same room. Kumospace offers a unified video chat platform that transcends the limitations of traditional virtual meetings.  MORE ABOUT BRETT’S WORKSPeople have grown to appreciate the flexibility of remote work, with benefits like no commutes and more time with family. There are, however, still elements of the office environment that people miss, such as spontaneous interactions and quick questions. Kumospace aims to bridge this gap by offering a virtual office experience that combines the best of both worlds. Be sure to check out Kumospace now to see if it might be right for your team: www.kumospace.comIn addition to Kumospace, Brett serves as the head of Charge Ventures, a pre-seed venture capital fund. With a focus on the New York City startup ecosystem, Charge Ventures has invested in nearly 70 portfolio companies. Brett emphasizes the importance of founder-market fit. Whether it's a first-time founder with a unique insight or a seasoned entrepreneur, their main criteria revolve around the founder's deep connection to the problem they aim to solve. To learn more about Charge Ventures, check them out today: www.charge.vc • • • For my full discussion with Brett Martin, and more on this topic and topics not featured on this blog post:Listen to the Full DealQuest Podcast Episode Here• • •FOR MORE ON BRETT MARTIN:https://www.linkedin.com/in/brettlucasmartin/www.kumospace.comwww.charge.vc Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast.  Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today!
Opening Your Dealmaker’s Mindset for Better Deals On this podcast we discuss the dealmaker’s mindset often. It’s important to know there is no one singular way to achieving an efficient and successful mindset, however, there are plenty of core principles that help to grow your dealmaking skills. In turn, you can fix yourself to become a better dealmaker. In this episode, I want to discuss both the pitfalls many fall into, and ways to help you avoid those pitfalls - we’ll delve deep to equip you with tools that empower you to forge deals that are not only lucrative but also sustainable. JUMP, BUT NOT TO CONCLUSIONS As we navigate the intricate world of business and deals, the lesson is clear: Jumping to conclusions is a surefire way to miss out on untapped opportunities, limit innovation, and stifle potential growth. A balanced, open, and informed mindset not only fosters a deeper understanding but unveils paths to creativity, collaboration, and unprecedented success. In this ever-growing landscape, adaptability, continuous learning, and a nuanced perspective are our most valued companions, steering us towards not just profitability, but also sustainable and impactful business success. Every interaction, deal, and business venture is an opportunity to learn, grow, and redefine the boundaries of what’s possible, if only we approach it with an open heart and a discerning mind. NUANCES AND YOUR MINDSET In a world inundated with information and narratives, the ability to sift through the noise, to pause and reflect, and to embrace a more nuanced, informed perspective is not just a virtue but a necessity. Every story deserves its examination, every deal its scrutiny, and every partnership its unique appraisal. By engaging with the complexities, acknowledging the dual narratives, and venturing beyond surface-level perspectives, we arm ourselves with the informed viewpoint critical for success in the intricate, multifaceted world of business and deals. In this realm, the nuanced perspective is not just a competitive advantage - it is the cornerstone of informed decision-making, strategic foresight, and sustainable success. WHAT MAKES A GREAT DEALMAKER? In the world of deals, an open mindset serves as a compass, guiding entrepreneurs through the intricate terrains of opportunities and challenges. It fosters a culture of learning, adaptability, and informed decision-making. This doesn't advocate for indiscriminate acceptance but calls for a balanced evaluation process, where opportunities are not dismissed prematurely, and decisions are informed, strategic, and objective. Great dealmakers exhibit characteristics of: * Openness * Flexibility * A learning orientation They approach opportunities with a mindset devoid of rigidity, fully aware that each deal, like every story, has multiple facets. In the complex landscape of private equity, franchising, and business partnerships, a balanced and informed approach is not just beneficial, but necessary. As we each continue our journeys in the deal-making space, let us commit to cultivating an open, informed, and balanced mindset. By avoiding the pitfall of jumping to conclusions and embracing a learning and evaluative approach, we position ourselves, our businesses, and our deals for success.  Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast. Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today!
From Sheepskin Boots to Billion-Dollar Success with Brian Smith DealQuest Community, I am so grateful to each of you for allowing the DealQuest Podcast to grow over the last few years. We’ve had so many incredible guests since day one, and we’ve learned a lot along the way. This is why I’ve chosen to remaster many of our older episodes into new life… And what better way to do that than with the story of Brian Smith, Founder of the internationally icon brand UGG®? Brian is so much more than his UGG® brand, however — he is the entrepreneurial success story. A SURFING DREAM INTO A REALITY While surfing in California, it struck Brian that there was a notable absence of easily accessible sheepskin boots in the United States. This led to his first deal with an Australian manufacturer, despite initial reluctance. Luck played a significant role in sealing this pivotal deal. His vision was to create a brand that every American would eventually embrace. With the manufacturer lined up, Brian and a friend realized they needed capital to buy 500 pairs of boots as samples. A fortunate encounter with a roommate's office colleagues resulted in a $20,000 investment, equivalent to about $70,000 today. This investment set the stage for UGG®'s initial business operations. LUCK DOESN’T MEAN EASY The road to success was far from smooth. In the early days, retailers in California were hesitant to embrace sheepskin boots. Despite having high hopes for sales, they encountered resistance. Brian highlights a valuable lesson: Everyone may show interest in your idea… until it’s time to make a commitment. The initial capital they raised lasted a couple of years, but the company struggled to gain traction. When they ran out of money, Brian decided to bring in another investor, diluting their ownership from 50% to 25%. This infusion of cash allowed them to keep the business afloat. Brian's resilience shone through during these challenging times. He continued to work tirelessly, building the UGG brand one sale at a time. His ability to adapt, pivot, and find creative solutions was instrumental in his journey. AUTHENTICITY IN ENTREPRENEURSHIP Throughout his story, Brian emphasizes the importance of listening to one's inner wisdom and staying true to oneself, even when faced with seemingly insurmountable challenges. Here are key lessons for authenticity in entrepreneurship: * Different Objectives, Not Bad Intentions: In negotiations, diverse objectives reflect varying goals and perspectives, rather than indicating bad intentions. Recognizing this is crucial for trust-building in business relationships. * The Power of Customer Loyalty: Brian's customers' unwavering loyalty, even in the face of counterfeit products, highlights the importance of exceptional customer service and authentic connections. * Staying the Course Amid Challenges: Brian's persistence and belief in UGG® boots' potential kept him going through challenging moments, showcasing the resolve of authentic entrepreneurs. * Trusting Your Inner Wisdom: Brian relied on his inner wisdom, accessed through meditation, for pivotal decisions in his entrepreneurial journey. * Authenticity as a Guiding Principle: Authenticity isn't a buzzword for Brian; it's a guiding principle that shapes his product, brand, and relationships with partners and customers. Brian Smith's entrepreneurial journey is a testament to the transformative power of authenticity and trust. By staying true to his vision, trusting his inner wisdom, and forging genuine connections, he transformed a simple idea into a globally recognized brand. His story serves as an inspiration for aspiring entrepreneurs and a reminder that authenticity and trust are the cornerstones of long-lasting success in any business venture. Trust your inner wisdom, stay authentic, and let it guide you on your entrepreneurial journey. FOR MORE ON BRIAN SMITH: https://briansmithspeaker.com/about-brian-smith/https://www.linkedin.com/in/briansmithuggfounder/ Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast. Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today!
The Fundamental Equation of Business Success with Kevin Stansfield When it comes to entrepreneurship, many people take the bold step of leaving their jobs to pursue their dreams of becoming their own boss. Too often, these aspiring entrepreneurs end up becoming proverbially enslaved to their own businesses. Kevin Stansfield is a seasoned entrepreneur and business coach on a mission to liberate fellow entrepreneurs from the shackles of their businesses. He witnessed his father's life consumed by a business bought on a whim from a pub stranger, sparking his commitment to help others avoid such pitfalls. With experience as a financial director in major companies, Kevin realized that business shouldn't be a personal burden; it should be enjoyable and rewarding. He leveraged this insight to drive impressive growth, including taking a company from £2 million to £36 million in revenue and assisting a startup sold for £15 million. For over 16 years, Kevin has coached 300+ business owners, enabling them to work less while earning more. THE FUNDAMENTALS OF SUCCESS Kevin's coaching philosophy revolves around a simple yet powerful formula: BE x DO = HAVE. Let's break it down: 1. BE (Belief): This represents the internal aspects of an individual's journey, including their beliefs, thoughts, knowledge, and skills. Belief plays a crucial role in shaping one's actions and determination. 2. DO (Actions): These are the physical steps taken to achieve specific goals. Entrepreneurs are known for their "doer" mentality, but it's essential to ensure that these actions align with their beliefs and aspirations. 3. HAVE (Goal): This is the ultimate objective or vision that entrepreneurs strive to attain. It encompasses not only material achievements but also personal fulfillment and impact. All three components are vital for success, but one stands out as the most important. According to Kevin, it's the "BE" – your internal beliefs, thoughts, and skills. Your mindset and self-belief are the driving forces behind your actions and, ultimately, your achievements. The equation BE x DO = HAVE serves as a valuable framework for understanding the dynamics of entrepreneurial success. Belief, action, and vision are interconnected, and balance among these elements is essential. Entrepreneurs who start with a clear vision of what they want to achieve and align their actions accordingly are more likely to overcome challenges, break through plateaus, and realize their goals. As you embark on your entrepreneurial journey, remember that success is not just about constant activity or being overly busy. It's about finding harmony between your beliefs, actions, and aspirations. CHECK OUT KEVIN’S BOOKS In the ever-evolving world of entrepreneurship, Kevin's wisdom and coaching expertise continue to inspire and guide countless business owners towards greater success. That wisdom expands into the books he written. Be sure to check out his books: * The BIG Dipper: How to Survive the Rollercoaster Ride of Business Ownership * The Great Game: How Lessons From The Great Game Of Golf Can Help You Win The, Equally Great, Game Of Business • FOR MORE ON KEVIN STANSFIELD: www.abc-solent.co.uk https://www.linkedin.com/in/kevin-stansfield-94494798/?originalSubdomain=uk Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast. Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today!
Wealth, Legacy, and Investment with Salvatore Buscemi In a world where wealth and success are often pursued with relentless ambition, Salvatore Buscemi stands out as a financial expert with a unique perspective. With a remarkable 20-year career spanning a diverse range of financial domains, Salvatore's journey has taken him from the illustrious Goldman Sachs to the dynamic realm of entrepreneurship, as well as becoming an investor for the 0.001%. Along this extraordinary path, he has cultivated a deep understanding of wealth, legacy, and investment that transcends conventional wisdom. THE QUEST FOR MEANING IN WEALTHOne of the central themes of Salvatore's philosophy is the pursuit of meaning in wealth. He believes that as individuals accumulate substantial assets, their focus often shifts from the pursuit of more wealth to the desire to leave a meaningful legacy. This shift in mindset reflects a deep human need to make a lasting impact on the world.For those who have reached a level of wealth where they no longer seek material possessions for their own sake, legacy building becomes paramount. Legacy encompasses not only financial success but also the desire to make a significant contribution to society, whether through philanthropy, iconic investments, or participation in exclusive ventures. UNDERSTANDING VANITY AND LEGACYWhile vanity is often viewed negatively, Salvatore emphasizes that it can also serve as a driving force for positive change. Legacy-building is not about flaunting wealth; it's about leaving a lasting mark on the world and creating a narrative that extends beyond one's lifetime.Legacy transcends the individual and can benefit companies, societies, and causes. For example, after the passing of celebrities like Marilyn Monroe or musicians like Jimmy Buffett, their legacies continued to thrive, demonstrating the enduring power of leaving a mark on history. STATUS, ACESS, AND REPUTATIONStatus and access to exclusive opportunities play a significant role in legacy building for the ultra-wealthy. Individuals at this level seek not only financial success but also recognition and inclusion in exclusive circles. They want to access unique opportunities and networks that set them apart from others.To achieve this, Salvatore suggests building strong relationships with like-minded individuals and families who understand the nuances of specific industries. Having in-kind investors who possess deep knowledge and networks in a particular sector can add substantial value to investment decisions. LESSONS FROM SALVATORE FOR ASPIRING WEALTH-BUILDERSWhile Salvatore's insights are geared toward individuals with substantial wealth, there are valuable lessons that aspiring wealth builders can apply to their own lives and investment strategies: Clarify Your Why: When making investment decisions or pursuing new ventures, always ask yourself why you're doing it. Understanding your motivations and goals is crucial to making sound financial decisions. Seek Maturity and Track Record: When considering investments, prioritize founders and leaders with a track record of success and maturity. Experience and a proven ability to navigate challenges are invaluable. Focus on High-Barrier Industries: Consider investing in industries with high barriers to entry, such as life sciences and technology. These sectors often provide opportunities for long-term growth and stability. Build Meaningful Relationships: Invest time and effort in building relationships with like-minded individuals and families who share your values and interests. Strong partnerships can open doors to exclusive opportunities and networks. • • •For my full discussion with Salvatore Buscemi, and more on this topic and topics not featured on this blog post:Listen to the Full DealQuest Podcast Episode Here• • • FOR MORE ON SALVATORE BUSCEMI:https://salvatorebuscemi.com/https://www.linkedin.com/in/salvatore-buscemi/www.SalvatoreBuscemi.com/books Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast. Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today! •••••
Freedom is a term we often come across, yet its meaning varies significantly from person to person. In the entrepreneurial world, freedom takes on a myriad of dimensions, from financial autonomy to the liberty of choice, and the flexibility of time. In essence, freedom in the entrepreneurial landscape is a tapestry of diverse elements – financial independence, time flexibility, decision-making autonomy, operational liberty, and the freedom to take risks. Each entrepreneur, with their unique journey and experiences, adds a distinct hue to this multifaceted concept.In this special DealQuest Best Of Episode, we delved into just that — the diverse perspectives of entrepreneurs on what freedom means to seven of past DealQuest guests: Justin Skinner, Denver Nowicz, Matthew Holman, Jeff Dekko, Alex Jarbo, David Bradley, and Wies Bratby. JUSTIN SKINNEREpisode: Professional Failurehttps://www.professional-failure.com/DENVER NOWICZEpisode: Building Your Investment Portfolio: Playing Offense-Defense and Leveraging Your Wealth with Denver Nowiczhttps://wealthforlife.net/https://twitter.com/DenverNowiczhttps://www.linkedin.com/in/denvernowicz/MATTHEW HOLMANEpisode: The Art of Choosing the Right Business Partner with Matthew Holman and David Bradleyhttps://www.linkedin.com/in/holman-matthew/Subscription Prescription Youtube Channelhttps://QPilot.cloudJEFF DEKKOEpisode: M&A Talk with Leading RIA Aggregators and Integrators: Jeff Dekko of Wealth Enhancement Grouphttps://www.wealthenhancement.com/https://www.linkedin.com/in/jeffrey-dekko-a6244b200/ALEX JARBOEpisode: Setting Yourself Apart in Short-Term Rentals with Alex Jarbowww.alexjarbo.comhttps://www.youtube.com/c/AlexBuilds1DAVID BRADLEYEpisode: The Art of Choosing the Right Business Partner with Matthew Holman and David Bradleyhttps://www.linkedin.com/in/davebrad/Subscription Prescription Youtube Channelhttps://QPilot.cloudWIES BRATBYEpisode: Negotiating Your Worth: Gender Differences in Negotiation with Wies Bratbywww.womeninnegotiation.orghttps://www.linkedin.com/in/womeninnegotiation/ As we navigate our entrepreneurial paths, may we embrace and strive for the multifarious dimensions of freedom, cherishing not just the financial prosperity but also the enriched life experiences, choices, and time that true freedom bestows. Through deal-driven growth and strategic collaborations, let us step closer to the holistic freedom that amplifies not just our business success but also our life’s richness and fulfillment.• • •For my full discussion, and more on this topic and topics not featured on this blog post:Listen to the Full DealQuest Podcast Episode Here Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast. Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today!•••••
 From the hallowed halls of West Point in 1990 to the bustling floors of stock trading, Jeff Evenson's journey through the corporate maze has been nothing short of remarkable. With an MBA from Washington University in St. Louis under his belt, Jeff navigated the world of stocks at a brokerage firm, managed diverse portfolios, oversaw pension funds, and played a key role in facilitating acquisitions for a prominent Fortune 50 company. But it's not just his corporate pursuits that set him apart. Jeff's true passion lies in business ownership—a path he's intimately familiar with, having owned, run, and successfully exited businesses ranging from hair salons to aerospace manufacturers and even smoothie shops. Now, wearing the hat of an acquisition and acceleration coach, he is on a mission to guide others in building generational wealth through the intricacies of business acquisition and ownership. Jeff Evenson's journey from West Point to business ownership offers invaluable lessons for entrepreneurs and business leaders. His experiences underscore the significance of anticipation, the art of negotiation, and the importance of clear communication. THE HUMAN SIDE OF MAKING DEALSWhile financial considerations are undoubtedly critical when making deals, the human element remains pivotal in sealing the deal. In the intricate dance of buying, selling, or starting a business, both the head. Building a relationship is pivotal to a successful deal. Beyond financial considerations, many sellers care deeply about the legacy of their business and are unlikely to sell to someone they feel won't respect or continue that legacy. Building trust and rapport can be just as crucial as getting the numbers right. IT’S NOT ALL ABOUT THE MONETJeff advises against charging into meetings with sellers, focusing solely on financial specifics. Instead, he suggests fostering genuine conversations, letting sellers narrate their journey, their motivations, and their concerns about the future of the business post-sale. He emphasizes the importance of understanding a seller's emotional ties to the business, whether it's the legacy they've built or the relationships they've forged with employees over the years. COLLISIONS AS CATALYSTS FOR GREATNESSJeff, with his extensive experience in business operations and hiring practices, is a firm believer in the power of collisions. A quote from our interview that sticks out to me, “Collisions are the catalyst for greatness.” The idea is simple yet profound: When two people or entities with complementary skills and visions come together, the potential for greatness multiplies exponentially. ACQUIRING TALENT THROUGH M&ASIn a tight labor market, acquiring businesses can also be a strategy to onboard talent. Instead of recruiting individuals, companies can buy out entire teams or firms, ensuring they get seasoned professionals who are already synergized. While this approach has its advantages, however, integrating cultures and ensuring the acquired talent feels valued and comfortable are essential to the acquisition's success. For those interested in leveraging Jeff's expertise, he is approachable and encourages direct contact. He's available on LinkedIn and has two businesses: His coaching business at www.flawlessacceleration.com and his personal acquisition venture at www.ThayerGateProject.com. • • • For my full discussion with Jeff Evenson, and more on this topic and others discussed not featured on this blog post:Listen to the Full DealQuest Podcast Episode Here• • • FOR MORE ON JEFF EVENSON:https://www.thayergateproject.com/www.linkedin.com/in/jeffreyevenson Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast.  If you want to start getting  yourself deal-ready, check out the DealQuest Podcast with Corey Kupfer each week. Featuring industry leaders and newcomers as guests alike, the DealQuest podcast has something for everyone.
  In the latest episode of the DealQuest Podcast, I have the privilege of hosting Bill Snow, a towering figure in the world of mergers and acquisitions (M&A). With a rich career spanning over three decades, Bill boasts unparalleled expertise in myriad facets of M&A, including business sales, capital raises, and buy-side services, especially for middle-market companies. Having delved into sectors as diverse as automotive parts, medical supplies, security, apparel, and many more, his experience truly runs the gamut. Beyond his practical experience, Bill is also the mastermind behind the widely revered book, Mergers & Acquisitions For Dummies, serving as an invaluable guide for entrepreneurs and investors alike. UNDERSTANDING THE ART OF M&AWhen it comes to mergers and acquisitions, it's not just about the industry or the numbers; it's about understanding the intricate dance of negotiation, valuations, and human psychology. Bill emphasized that while industry knowledge can be beneficial, what's even more crucial is expertise in the M&A process itself. This point couldn't be truer. No matter if you're selling a marketing company or a manufacturing business, the foundational principles of M&A remain consistent. And that's where Bill's strength truly lies. MAXIMIZING YOUR COMPANY'S VALUEWhat Makes a Company Valuable? Bill breaks down the key factors that can significantly bolster a company's value: Replaceable Owners: The ability for an owner to step aside and let the business function autonomously is crucial. Buyers want assurance that the business won't collapse when the original owner departs. Diversified Customer Base: Concentrating too much business with a single customer can be risky. Businesses should strive for a varied customer base to ensure stability. Strong Management Team: Beyond the owner, companies need a reliable management team. This provides a continuation of operations even after the owner exits. Growth & Profitability: Both the top line (sales) and bottom line (profits) need to be growing. The margins matter too. A high volume of sales with thin margins might raise eyebrows.  THE IMPORTANCE OF ACTIVITY IN MARKETINGSimply having a product or service isn't enough. The differentiation often comes from the relationships built, and the ongoing activity and efforts to remain top-of-mind with potential clients. For Bill there are the five essential things for marketing success: Professionalism - You need to show up and be a professional in your dealings. Knowledge - Understanding your industry or niche is vital. Ethics - Honesty and ethical dealings are essential. Activity - Consistent marketing and networking activities keep you in front of potential clients. Being Memorable - In a world full of noise, standing out is crucial. MERGERS & ACQUISITIONS FOR DUMMIESThe world of M&A is not always the easiest to understand, but Bill Snow is here to help newcomers and seasoned veterans alike with his new book Mergers and Acquisitions for Dummies. Available on Amazon, this insightful book delves deep into the complexities of the M&A landscape, breaking down intricate processes and strategies into digestible, actionable steps. Leveraging his extensive experience and wisdom, Bill provides readers with practical guidance, real-world scenarios, and invaluable advice to navigate successful M&A transactions. Whether you're considering your first acquisition, aiming to optimize your sale strategy, or simply looking to expand your knowledge in this dynamic domain, Mergers and Acquisitions for Dummies is a must-have resource to illuminate your path. Get Mergers and Acquisitions for Dummies today: https://www.amazon.com/Mergers-Acquisitions-Dummies-Bill-Snow/dp/0470385561 • • • For my full discussion with Bill Snow, and more on this topic and others discussed not featured on this blog post:Listen to the Full DealQuest Podcast Episode Here• • • FOR MORE ON BILL SNOW:https://www.linkedin.com/in/billsnow/ https://BillSnow.com Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast.  If you want to start getting  yourself deal-ready, check out the DealQuest Podcast with Corey Kupfer each week. Featuring industry leaders and newcomers as guests alike, the DealQuest podcast has something for everyone.
Matthew Khalili is a first-generation immigrant whose journey into entrepreneurship began when he was born in this country. With a career spanning back to 2003, he embarked on a path of leadership, notably as Senior Marketing Director for an online technology supplier and solution provider, earning the company recognition as an Internet Retail Top 500 and an Inc. 500 Fast Growing Direct Sales Organization. His entrepreneurial spirit led him to establish a fashion technology platform, securing funding that earned accolades for the best business proposal during his M.B.A. program. In 2013, Matthew ventured into consultancy, founding Plan Writers, where he and his team empower early-stage start-ups and assist foreign entrepreneurs in their journey to the United States. IT’S ALL ABOUT DEALS Growth and expansion in business are often driven by one crucial factor – deals. Deals can come in all shapes and sizes, from large complex mergers and acquisitions to smaller agreements that can be executed even without significant capital. As the principal of PlanWriters, Matthew Khalili plays a vital role in the deal-making landscape. His consultancy focuses on preparing pitch decks and business plans, catering to a wide range of clients, from pre-revenue startups seeking small bank loans to mature companies preparing for Wall Street roadshows. Matthew and his team provide a turnkey service, which involves understanding the client's needs, conducting research, modeling financial projections, designing presentations, and packaging everything neatly to tell a compelling business story. THE IMPORTANCE OF SIMPLIFYING YOUR PITCH Securing funding and making impactful pitches is a critical skill. Many entrepreneurs focus on the content of their pitches, which is undoubtedly important, but there's a deeper layer to consider – the psychology of human decision-making. Matthew Khalili, a seasoned entrepreneur, and founder of PlanWriters, a consultancy that specializes in preparing pitch decks and business plans, shares valuable insights into the art of crafting an effective pitch that goes beyond just the words on the slides. One of the first principles Matthew emphasizes is the importance of simplicity and clarity. Your pitch should be straightforward and easy to understand. Complex jargon, technical details, and convoluted explanations can quickly lose your audience's attention. Remember, the brain seeks simplicity and clarity when evaluating new information. THE KEY TO CONFIDENCE Ultimately, confidence is not just a personality trait but a learned skill. Matthew's approach is to work with clients to build their confidence by emphasizing the importance of self-belief. Entrepreneurs must genuinely believe that their product or service can provide value to investors. This conviction, coupled with thorough preparation and training, can help individuals conquer any confidence-related challenges they may face in the world of pitching. FREEDOM AND ENTREPRENEURSHIP Entrepreneurship offers a path to freedom. For Matthew Khalili, freedom is about controlling one's time, generating income without constant labor, and having the flexibility to enjoy life with family, travel, and personal pursuits. This aspiration for freedom is a driving force for many entrepreneurs, motivating them to navigate the challenges of entrepreneurship and the world of deals. Navigating the world of deals and capital raising requires expertise, adaptability, and the willingness to embrace change. Trends like reshoring and advancements in AI are reshaping industries, offering opportunities for those prepared to seize them. With the right guidance and a culture of helping entrepreneurs succeed, ventures like PlanWriters are playing a vital role in facilitating entrepreneurial success. CONNECT WITH PLANWRITERS If you're an entrepreneur looking for assistance in pitching and securing capital or exploring the world of deals, you can learn more about PlanWriters by visiting their website at www.planwriters.net. Contact information and resources are available on their website, making it easy to get in touch with their team. FOR MORE ON MATTHEW KHALILI: https://www.linkedin.com/company/theplanwriters/ www.planwriters.net Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast. If you want to start getting yourself deal-ready, check out the DealQuest Podcast with Corey Kupfer each week. Featuring industry leaders and newcomers as guests alike, the DealQuest podcast has something for everyone.
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