Free Business Information From Money 2.0 With Andrew Rogerson
Free business information from Money 2.0 with Andrew Rogerson continues the weekly radio show I’ve been doing on 105.5FM called Money 2.0. The final show came to a wrap with the last show on September 24. It’s been an absolute blast putting the show together and interviewing over 50 experts in their fields over the last 8 months or so.
My guests for September continued to cover the diverse range of topics I’ve focused on all of which at their core were around selling a business, buying a business or buying a franchise and owning and operating a business. Each show is recorded and available to listen on my website which you can get to by clicking the following link: Money 2.0 with Andrew Rogerson.
My guests for September and the topic of my conversation includes the following:
- Marketing, advertising and PR can be a challenge for a lot of business owners. Reg Carter is a marketing junkie that uses his skills to help his customers grow and strengthen their business. He’s also the senior partner with Carter/Sartain. My conversation with Reg was around the approach he brings to a successful marketing campaign, how to determine the right marketing mix. We also talked about some of the successful marketing campaigns he’s put together, if social media is a good option for all businesses and more.
- Business valuations can be confusing as there is different logic to different types of valuations for different industries. Terry Flanagan is the owner of Circumference Valuations and is a certified appraiser or Accredited Valuation Analyst (AVA) through NACVA with an area of specialization in medical practice valuations. My conversation with Terry covered the different types of valuation and how these are influenced by the reason for the valuation, what goes into putting a valuation together and more.
- Forensic accounting is an area that touches many businesses only when they are mired deep in a problem. There are steps business owners can take to prevent it being a problem in the first place. Mike Ueltzen is a partner in the accounting firm he started called Ueltzen and Co. located in Sacramento, CA. The practice specializes in tax and accounting, business valuation, economic damages plus Mike’s area of expertise which is forensic accounting. It was fascinating to talk with Mike as he spoke about theft and fraud and the different lengths people will go to take money from a business that doesn’t belong to them. Related topics we spoke about include what personality traits and behaviors to watch from those that will perpetrate a fraud and most important of all, what steps a business owner can take to reduce the chances of a fraud…and again, the good news is that there are proactive steps a business owner can take.
- Bankruptcy has been all too common for too many during the recession whether it be a bankruptcy for a personal and/or business need. Bret Rossi is an attorney and is also a Certified Specialist in bankruptcy. As you can guess, Bret specializes in the legal area of bankruptcy for both individuals and businesses. My conversation with Bret includes the different chapters of bankruptcy available be they Chapter 7, 11, 12, 13 or now a new one called Chapter 9 and how best to approach bankruptcy if you feel this is an option you want to follow. In addition, Bret and I spoke about what causes someone to have to file for bankruptcy in the first place and what they can do to avoid it.
- Mergers and Acquisitions come into play when a larger business owner has come to the decision it’s time for them to exit their business and they would like to sell it for the highest price possible. The normal market segments for a businesses are Main Street with annual sales up to about $10,000,000 and then middle market businesses. Once a business has an annual net income of at least $1 million and the owner wants to sell their business they normally want the help of an expert such as Ney Grant who works at Woodbridge International. It’s a different world with the types of buyer that would be eligible and the fact they could be an international company, the finance needs, the selling process that uses an approach more like an auction and so Ney and I spoke about the skills and processes he follows when selling a business with an annual net income of $1 million or more.
- Correctly compiling and then interpreting the internal financial statements of a company with his CPA training has been the work Mark Denning has done in the capacity of a CFO or Chief Financial Officer for most of his working life. The financial statements of a business condense the management, operations, sales and marketing, finance, technology and its other aspects into a set of numbers that show the performance of a business that tell a story. Taking the skills and experiences Mark’s learned in ‘the driver’s seat’ as a CFO, he now owns and operates his own business with its core focus of setting the financial direction and tone of a business. To help communicate what Mark has learned and how he can help a business he’s written a book called ‘Drive your business to financial success.’ Mark and I had an intriguing conversation around his analogy of using financial statements and the data it presents to being similar to driving a car and using the rear view mirror, the dashboard and more importantly, looking through the windshield to drive the business in the right direction to success based on the financial numbers.
- Angel Investing is not something many entrepreneurs know about or are too sure how it works. However, Graeme Plant knows the Angel Investing industry and spoke with me about Angel Investing, how it works, who uses it and why and more. Angel Investing is a great option for the right business owner that wants to grow their business fast. Graeme also works at Woodbridge International and like Ney Grant, has been around business acquisitions and specializes in Mergers and Acquisitions.
- Taxes or paying too much tax is probably the least favorite thing a business owner likes to do. Donna Sauter has a Masters in Taxation and works at Ueltzen and Co where the focus of her work heading up the tax department is advising business owners what they can do to eliminate or lower their taxes. Donna and I spoke in detail about the mistakes she sees business owners making so if you would like some free suggestions on steps you can take to lower the amount of taxes you pay, listen to my conversation with Donna.
The conversation with the eight guests above is available to listen to on my website. Each guest talks about their area of expertise and so provides great knowledge and information; all for free. If you would like to hear my conversation, simply click the following link and it will take you to the page on my website where the recording is available and ready to go: Money 2.0 with Andrew Rogerson.