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Inside BS Show

Would you like to work with better clients, make more money, and build a business that gives you true freedom?

Have you struggled with the loneliness that comes with working long hours and solving the dozens of complex problems you face as an entrepreneur?

Do you ever feel like the most valuable business secrets are shared behind closed doors—where only insiders have access?

Welcome to The Inside BS Show—your daily invitation to step behind the velvet rope and into the room where real business leaders talk strategy, success, and scale.

These are your people. They’ve been where you are, and they’ve gone where you want to go. But most importantly, they feel your pain and can help it go away.

If you’re an entrepreneur, CEO of a private company, or leader of a professional firm, this show is your secret weapon.

On each show we break down the business growth strategies that insiders use to win—revenue generation, building influence, succession planning, hiring top talent, navigating legal minefields, and crafting an exit strategy that maximizes value.

But this isn’t just a podcast—it’s a community. We don’t just talk at you; we bring you into the conversation.

Your host, Dave Lorenzo (The Godfather of Growth), gives you an exclusive front-row seat to the insights, strategies, and behind-the-scenes conversations that drive business success.

A new episode drops each Wednesday at 6 AM.

Want to connect with Dave? Call (305) 692-5531.

What are you waiting for? Join us ON THE INSIDE.

Latest Episodes:

The Ten Big Mistakes Business Owners Make with Financial Management | 671 Nov 13, 2024

Show notes

The Ten Big Mistakes Business Owners Make with Financial Management

This episode of our show is taken from actual sessions we've conducted in Exit Success Lab with business owners and the professionals who advise them. If you'd like to be a part of these sessions and increase the value of your business, apply for membership by calling: 1+786.436.1986.

In this insightful episode of The Inside BS Show, hosts sit down with financial management experts Harry Cendrowski and John Alfonsi to discuss the ten most common mistakes business owners make when managing their finances.

From investing too heavily in new ventures after a sale to neglecting personal financial planning, Harry and John dive into real-world examples that every business owner should hear. Learn how to avoid these pitfalls and set your business up for long-term success.

Key mistakes discussed include:
1. Over-investing proceeds from a business sale.
2. Lack of an exit strategy.
3. Failure to reinvest in the core business.
4. Impulsive spending without ROI analysis.
5. Poor preparation and document organization.
6. Not maintaining a budget.
7. Failure to benchmark performance.
8. Not incentivizing key employees.
9. Ignoring recurring revenue and employee retention.
10. Lack of personal financial planning.

Whether you're a business owner, advisor, or entrepreneur, this episode is packed with valuable insights to help you better manage your business finances and achieve sustainable growth.

Buy Sell Agreements: What You Need to Know | 670 Nov 06, 2024

Show notes

Buy Sell Agreements: What You Need to Know

This episode of our show is taken from actual sessions we've conducted in Exit Success Lab with business owners and the professionals who advise them. If you'd like to be a part of these sessions and increase the value of your business, apply for membership by calling: 1+786.436.1986.

In this show, we explore the essential topic of buy-sell agreements and why every business owner must have a well-structured one in place. Our discussion begins with Harry Cendrowski and John Alfonsi addressing the common scenarios where business owners either lack a buy-sell agreement or have one that fails to meet their business needs.

Harry Cendrowski and John Alfonsi are seasoned experts in business advisory, and they provide in-depth insights into the importance of buy-sell agreements in safeguarding business continuity, especially during unforeseen events like the departure of a key partner, death, or retirement. In this video, they break down the complexities and offer practical advice on how to create a robust agreement that addresses both current and future business goals.

Key Topics Covered:

What is a Buy-Sell Agreement?
A foundational document that outlines how ownership changes hands in the event of key transitions like death, disability, or retirement.
The Consequences of Not Having One:

What happens when business owners don’t have a buy-sell agreement or have one that is outdated or inadequate?

Common Mistakes in Existing Agreements:

Harry and John discuss the most frequent errors business owners make when drafting these agreements and how to avoid them.

Tailoring an Agreement to Fit Your Business:

Learn why a one-size-fits-all approach doesn’t work and how to customize a buy-sell agreement to align with your specific business structure and objectives.

Steps to Crafting an Effective Buy-Sell Agreement:

Practical advice on key provisions, funding mechanisms, and legal considerations that should be included to ensure the agreement is comprehensive and effective.

This episode is a must-listen for business owners, partners, and advisors looking to protect the future of their businesses through sound legal and financial planning.

Introduction to Business Valuations Part 2 | 669 Oct 30, 2024

Show notes

Introduction to Business Valuations Part 2

This episode of our show is taken from actual sessions we've conducted in Exit Success Lab with business owners and the professionals who advise them. If you'd like to be a part of these sessions and increase the value of your business, apply for membership by calling: 1+786.436.1986.

This episode provides a comprehensive overview of the key considerations and best practices in business valuation.

The importance of cash flow analysis in valuing a business, including adjustments for working capital, borrowing, and capital expenditures
How to approach valuations for businesses with little historical data versus mature businesses
The impact of economic conditions, industry trends, and company-specific factors like intellectual property, brand, and legal risks on the valuation methodology and overall value
The critical role of management team quality and succession planning in a business valuation
Guidance on hiring a qualified valuation expert, including the differences between a "calculation" engagement versus a full "valuation" engagement, and typical timelines and costs.
And much, much more

Introduction to Business Valuations Part 1 | 668 Oct 23, 2024

Show notes

Introduction to Business Valuations Part 1

This episode of our show is taken from actual sessions we've conducted in Exit Success Lab with business owners and the professionals who advise them. If you'd like to be a part of these sessions and increase the value of your business, apply for membership by calling: 1+786.436.1986.

During today's show we discuss business valuation fundamentals, key terms like EBITDA and seller's discretionary earnings, and the different types of valuations (e.g. fair market value, investment value).

Today we cover how exit strategies can significantly impact the valuation, with strategic sales to competitors or private equity often commanding higher multiples than management buyouts or ESOPs.

This show also covers valuation methods like market capitalization, revenue/earnings multiples, and net asset value. It provides guidance on properly forecasting future cash flows and using historical data, emphasizing the importance of considering the industry, economic conditions, and the specific buyer when valuing a business.

Finally, we discuss strategies for valuing intellectual property as a separate asset.

This show is part 1 of a two-part series.

You Need an Exit Strategy | 667 Oct 16, 2024

Show notes

Why You Need a Business Exit Strategy | The Inside BS Show

In this episode of The Inside BS Show, explore why every business owner needs an exit strategy. Whether you're planning to sell, transfer ownership, wind down, or even if you're focused on growing and scaling your business, this conversation is for you. Having a solid exit plan not only prepares you for the future but also helps maximize your business's value and safeguard your investment along the way.

We break down both internal and external exit options, such as employee buyouts, strategic sales, and IPOs. You'll also learn about the 10 key drivers of enterprise value that are essential for every business owner to consider, including leadership succession, cybersecurity, sales systems, and more. These are vital whether you're thinking of exiting or simply strengthening your business for long-term success.

Tune in to learn how planning for the future today can set you up for the best possible outcome, no matter what your goals are!

Focus on Personal Growth and Development | 666 Dec 05, 2023

Show notes

On this episode of The Inside BS Show, breaksdown the importance of personal growth and overcoming the fear and lack of support that often hold us back. Shares her personal experience of wanting to try stand-up comedy and how Dave encouraged and supported her in taking the risk. They emphasize the need to surround yourself with people who enable your growth and the importance of being uncomfortable and resilient. They also highlight the value of learning from every experience and using failures as opportunities for growth.

Takeaways

Take risks and push yourself outside of your comfort zone to achieve personal growth.
Surround yourself with people who support and enable your growth.
Embrace discomfort and be resilient in the face of challenges.
Always be open to learning and growing from every experience.

Chapters

00:00 Introduction: The Importance of Personal Growth
01:02 Being Held Back by Fear and Lack of Support
03:32 Taking the Risk to Try Something New
05:02 The Importance of Having the Right Support System
07:52 Being Uncomfortable and Resilient
14:23 Surrounding Yourself with Others Who Enable Your Growth
15:21 Embracing Discomfort for Real Growth
19:31 Being Uncomfortable and Resilient
24:36 Always Learning and Growing
26:52 Conclusion: Achieving Personal Growth

How to Behave at a Holiday Party | 665 Dec 04, 2023

Show notes

In this episode, hosts share five tips for a great holiday party experience. They discuss the importance of not overindulging in cocktails, keeping conversations positive and light, avoiding sales pitches at holiday parties, understanding the dynamics of different types of parties, and not having serious conversations at social events. The hosts emphasize the need to be mindful of one's behavior and to prioritize building relationships and enjoying the holiday season.

Takeaways

Moderate your alcohol consumption at holiday parties to maintain a professional image.
Keep conversations positive and avoid discussing sensitive or negative topics.
Avoid selling or pitching your business at holiday parties; focus on building relationships instead.
Understand the dynamics of different types of parties and adjust your interactions accordingly.
Avoid having serious conversations at holiday parties and respect others' boundaries.

Chapters

00:00 Introduction and Setting the Stage
01:05 Tip #1: Take it easy on those cocktails
03:21 Tip #2: Only happy conversations
04:23 Tip #3: Don't sell at holiday parties
05:01 Tip #4: Speed date versus third date
08:15 Tip #5: Don't pull people aside and ask for advice at a holiday party
12:54 Conclusion and Final Thoughts

Play the Long Game | 664 Dec 03, 2023

Show notes

In this episode, unpack the need for patience in growing a business. They also share their experiences on their recent trip to Chicago. They reflect on the importance of building relationships in business. They also express gratitude for their audience and the journey they have been on together.

Takeaways

Building relationships and delivering value are key to success in business.
Playing the long game is essential for sustainable growth.
Expressing gratitude and appreciation is important in building strong partnerships.
Consistency and planning are crucial in achieving long-term goals.

Chapters

00:00 Introduction and Recap
01:12 Working Together and Building Relationships
06:08 Playing the Long Game
15:33 The Importance of Delivering Value
17:19 Expressing Gratitude
19:15 Closing Remarks

How to Talk About Mental Health at Work | 663 Nov 28, 2023

Show notes

This episode of The Inside BS Show focuses on fostering a mentally healthy workplace. Discuss the importance of mental health, the need for conversations about wellbeing, promoting well-being in the workplace, providing access to mental health resources and support, and mental health training for employees and managers.

Takeaways

Conversations about mental health and well-being should be encouraged in the workplace to remove the stigma and provide support for employees.

Promoting well-being in the workplace can include encouraging employees to take vacation days and offering flexibility in work schedules.
Providing access to mental health resources and support is crucial for employees' well-being. Reviewing benefits and insurance coverage can help ensure adequate coverage for mental health services.
Mental health training for employees and managers is important to recognize signs of mental health issues and provide appropriate support and referrals.

Chapters

00:00 Introduction
01:05 The Importance of Mental Health
01:59 Chapter 1: Conversations about Wellbeing and Mental Health
07:22 Chapter 2: Promoting Well-being in the Workplace
14:22 Chapter 3: Providing Access to Mental Health Resources and Support
19:40 Chapter 4: Mental Health Training for Employees and Managers
27:28 Conclusion

Season of Focus | 662 Nov 20, 2023

Show notes

On this episode of the Inside BS Show, explore the concept of a "season of focus" and how it can help individuals achieve their goals. They emphasize the importance of clarity of purpose, breaking goals down into smaller tasks, celebrating small wins, and setting a defined endpoint for the season of focus. They also highlight the need for balance and taking breaks to recharge before starting a new season of focus.

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