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What Is The Business Trilogy Greg DeSimone
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Are you prepared for the financial unknowns of your business’s future? Discover the key elements to ensure a smooth transition.
In this episode of Blue Collar BS, we welcome Greg DeSimone, an unconventional CPA who emphasizes the value of family-owned businesses being transferable.
With a focus on transition planning, Greg shares his perspective on growing a business, building a reliable team, and the importance of market analysis.
Greg delves deep into the importance of early transition planning, shedding light on why it’s crucial to understand your business’s market value and how to ensure a seamless future transition.
With anecdotes from his career and a relatable personal story, he helps us to think strategically about the future of our businesses. We discuss the realities of retiring in place, the significance of industry benchmarks, and how to foster a transferable business.
This episode is a must-listen for business owners seeking to ensure their hard work and dedication today translates into a sustainable and lucrative future.
Highlights:
The Business Trilogy: Greg introduces the three vital components that make a business valuable and transferable—growth, infrastructure, and documented processes.
Early Planning is Crucial: Highlight the importance of beginning transition discussions years ahead to align with retirement goals and ensure business readiness.
Scars as Assets: Greg shares how business failures and scars can be instrumental in learning and adapting, making businesses resilient and ready for future challenges.
Valuation and Market Comparison: Why understanding the market value of the business and comparing industry standards is crucial for strategic decisions.
Generation Differences: The evolving mindset of Gen X business owners compared to Boomers, highlighting the focus on immediate family benefits over long-term inheritance.
What other topics would you like for us to discuss? Please email either Brad or Steve with your ideas.
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