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Financial Planning For Canadian Business Owners
Jason Pereira
136 episodes
3 months ago

Business owners live complex lives. You have traded the stability of working for someone else, for the uncertainty of controlling our own destiny. Whether you are starting your own business, scaling it, or planning your exit, you face challenges that the average person never has to face. Ensuring that you make the most of your business means not just being the best at what you do, but figuring out all the other complexities that come with it, and that will mean finding people that will help give you the right advice.


The Financial Planning for Business Owners Podcast is here to help guide you regardless of the stage of your business. Each week we interview experts from various fields to help you become aware of what good advice looks like. From setting up your corporate structure to selling your business we tackle both the technical and personal considerations impacting all of your decisions. We can’t make you better at what you do, but we can help you benefit the most from the fruits of your labours.


Hosted on Acast. See acast.com/privacy for more information.

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Entrepreneurship
Business
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All content for Financial Planning For Canadian Business Owners is the property of Jason Pereira and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.

Business owners live complex lives. You have traded the stability of working for someone else, for the uncertainty of controlling our own destiny. Whether you are starting your own business, scaling it, or planning your exit, you face challenges that the average person never has to face. Ensuring that you make the most of your business means not just being the best at what you do, but figuring out all the other complexities that come with it, and that will mean finding people that will help give you the right advice.


The Financial Planning for Business Owners Podcast is here to help guide you regardless of the stage of your business. Each week we interview experts from various fields to help you become aware of what good advice looks like. From setting up your corporate structure to selling your business we tackle both the technical and personal considerations impacting all of your decisions. We can’t make you better at what you do, but we can help you benefit the most from the fruits of your labours.


Hosted on Acast. See acast.com/privacy for more information.

Show more...
Entrepreneurship
Business
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What the Seller isn't telling you with Richard Parker | E118
Financial Planning For Canadian Business Owners
39 minutes 2 seconds
1 year ago
What the Seller isn't telling you with Richard Parker | E118

Jason talks to Richard Parker, owner of the Diomo Corporation. They delve into the critical aspects of buying and selling businesses, focusing on the complexities around what sellers might not disclose and how buyers can navigate these challenges for a successful acquisition. The conversation offers a wealth of insights, drawing from Parker's extensive experience in helping individuals acquire businesses in the lower market.


Episode Highlights:

  • 00:07: Jason Pereira introduces the episode, setting the stage for an in-depth discussion on the intricacies of selling and buying businesses, with insights from award-winning financial planner and entrepreneur Jason Pereira and Richard Parker.
  • 02:11: Richard embarks on a discussion about the critical aspects buyers must consider, including the significance of understanding the future of a business from the seller's perspective, the potential for customer concentration issues, and the overarching theme of whether stability or growth presents a more valuable proposition for the buyer.
  • 10:06: Important aspects like key employees and their potential impact on the business after acquisition are discussed. Richard sheds light on the necessity of identifying truly key employees and devising strategies to retain them post-acquisition.
  • 12:22: The dialogue transitions to the operational challenges and pitfalls that might not be disclosed by sellers, emphasizing the importance of aligning the business's needs with the buyer's skill set and avoiding the trap of falling in love with the product rather than focusing on the profit.
  • 15:48: Richard and Jason discuss the negotiation phase, debunking myths about deal-making and stressing the importance of approaching negotiations with a balanced perspective, focused on constructive outcomes rather than winning every point.
  • 18:01: The conversation culminates in a discussion about realistic expectations regarding deal terms, the imperfection of businesses, and the potential for sellers to adjust their expectations based on real market feedback.


Key Points:

  • Understanding the future of the business and uncovering hidden challenges are paramount for buyers.
  • Key employees and supplier relationships significantly influence the stability of the acquired business.
  • Effective negotiation requires a balance between strategic firmness and flexibility, focusing on establishing a mutual understanding rather than winning outright.


Tweetable Quotes

  • "Growth is very sexy, but stability provides value." - Richard Parker
  • "Fall in love with the profit, not the product." - Richard Parker
  • "Deal-making is not about winning every point but achieving a balanced outcome that benefits the buyer while keeping the seller reasonably happy." - Jason Pereira


Resources Mentioned:

  • Facebook – Jason Pereira's Facebook
  • LinkedIn – Jason Pereira's LinkedIn
  • Woodgate.com – Sponsor
  • Richard Parker
  • Diomo 


Hosted on Acast. See acast.com/privacy for more information.

Financial Planning For Canadian Business Owners

Business owners live complex lives. You have traded the stability of working for someone else, for the uncertainty of controlling our own destiny. Whether you are starting your own business, scaling it, or planning your exit, you face challenges that the average person never has to face. Ensuring that you make the most of your business means not just being the best at what you do, but figuring out all the other complexities that come with it, and that will mean finding people that will help give you the right advice.


The Financial Planning for Business Owners Podcast is here to help guide you regardless of the stage of your business. Each week we interview experts from various fields to help you become aware of what good advice looks like. From setting up your corporate structure to selling your business we tackle both the technical and personal considerations impacting all of your decisions. We can’t make you better at what you do, but we can help you benefit the most from the fruits of your labours.


Hosted on Acast. See acast.com/privacy for more information.