Today, we're gonna talk about business brokers. If you've been thinking about selling your business or if you're thinking about buying a business, then this episode is made for you. Now, most business owners only sell their business once in their life. It is essentially the biggest financial transaction they're ever gonna make, and yet most of them go into it completely unprepared. 

They rely on gut instinct. They rely on advice from a neighbor, and they generally lose money when they do that. But today, we're gonna talk about fixing that. We're gonna cover what brokers actually do, how they get paid, the red flags to watch for, and the questions you need to ask before you sign anything. 

So stick around. This could help you save up to six figures 

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To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books

I've been using LinkedIn for years now with little to show for my efforts.  Maybe you have to.  I listened to the so-called experts.  Get as many contacts as you can.   Make sure you post at least weekly.  Thanks to today's guest, I now have a good idea of why that effort of time was not giving me the results that I wanted.  You may be surprised on what you are wasting your time on also and the right way to make LinkedIn a valuable tool in your marketing arsenal.

Support the show

To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books

Building a business is a lot of work and more often than not, it involves working 60 to 80 hours a week during the first few years of starting the journey.  What is often not talked about is the stress it causes and how that effects all of the relationships with your family members - often with some very negative results.

Our guest today, Galen Wilson, is a story teller, but one that has used his journey in life to develop a way to help people deal with that stress and create an even closer relationship with their spouses and peace in their home.  I think you will find it very interesting.

To learn more about Galen's work, you can find links to all he has to offer at https://www.monumentmethodinstitute.com/

Support the show

To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books

One of the things that people always ask me when they're thinking of buying some property, some rental property, is should they put it in an LLC? And the first thing I tell them is, "Absolutely, you have to put it into an LLC," just for liability reasons, because people are sue-happy nowadays. You've gotta protect yourself and your personal assets. 

But what a lot of people don't realize is it takes two LLCs to totally protect yourself. The first LLC is basically a holding LLC. You either have that LLC buy the property, or if you already own the property, you have to transfer it over to the LLC so they actually hold the title or the deed to the real estate. 

it doesn't have anything to do with handling the guest communications, bookings or daily operations, or nothing like that. All it does is hold the deed.  You're isolating that part of it. Then you just need a second LLC that is the management part, and it actually operates the rental for you. 

It handles, it handles all the heavy lifting. It, it signs the contracts, if you're advertising it with, Airbnb or VRBO or anything like that, newspapers, wherever you advertise it. it holds all your business licenses. It pays for the insurance. It hires the cleaning companies, everything needed to take care of that rental. 

Support the show

To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books

 Welcome to another edition of Mastering Business Basics. You know, in the last two decades that I've been doing taxes for people, one problem that always comes up once or twice or three times a year is people sit down to do their taxes, and they have this huge tax bill, and they can't figure out why. 

So I look at their W-2s and say, "Well, do you realize you didn't have any withholding?" Or, "You only had a hundred dollars withheld for the entire year?" And they totally freak out. 

So this is a subject that a lot of people don't understand, especially since 2020 when they redid the tax laws, and that's something I want to address today. More importantly, I want to go through the seven times when things happen in your lives that you need to redo your W-2 withholding to compensate for them.

Links in this episode: 

     https://www.irs.gov/w4
     https://www.irs.gov/individuals/tax-withholding-estimator

Support the show

To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books

Sometimes the best way to go about building a business is to listen to the journeys of those who have been through the process and what they have learned along the way.  Being an entrepreneur is more than just building a business, but even more so about a state of mind.

Today's guest, Lance Cayko, guides us through his journey and what it means to do it all while maintaining your perspectives of life.  It was worth listening to more than once.

You can reach Lance through his business website at https://f9productions.com or listen to his podcast at https://insidethefirmpodcast.com.

Support the show

To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books

Over the last few months, we've discussed a variety of things. We started out with talking about what the three pillars are to build a solid foundation under any kind of business that you want to run. we've talked about your skill sets, how to examine yourself, how to determine what skill sets you need to learn and which skill sets you need to hire out and bring into your organization. 

And we've talked about consumer direct marketing, and that's a way, with no investment, you can actually build a business that can give you residual income for the rest of your life. But today, we're going to look at something that you do have to put money into, and often it's hundreds of thousands of dollars to get started. 

And that's the subject of franchising. And I think you'll be amazed at how many different things you have to take into consideration before you jump into this way of doing business. 

Support the show

To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books

Marketing is probably one of the most fluid and confusing parts of running a business.  One of the things that everybody's heard in the news lately is the subject of artificial intelligence, or AI, as we all know it as. But, what a lot of small business people don't realize is how that is affecting their marketing, and the statistics and analytics they get from marketing are probably going to be skewed because of it.  

We have a special guest today, and we're going touch on that subject and a lot more.  Don't let your business get lost in the dust...

Website mentioned in this episode: https://uplift360.com.au 

Support the show

To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books

Welcome back to Mastering Business Basics. In the last few weeks, we've talked about how to build a solid foundation under your business. And 📍 on top of that, of course, you build the structure of your business, your employees, your services, whatever it is that you are into. But at some point, you have to do a little marketing. And marketing can become a tricky business because how do you know if it's working or not? 

Well, we have a guest today that would like to talk to you about that subject, and it's called analytics, how to determine if your marketing is working or not. Her name is 📍 Philippa Gamse, and she's clocked over twenty-five years in digital marketing strategy and analytics. She's consulted with nearly five hundred clients and worked with websites that have cumulatively generated hundreds of millions of dollars. Owners and marketing executives hire 📍 Philippa to find new insights into their web analytics that will help grow their business and cut wasteful spending because many are missing those hidden gems.

Learn what You may be missing.  You will find Philippa's book , Website Wealth, at: https://books2read.com/u/4jjAol 

Support the show

To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books

Thankfully, tax season is over and I am back, and I'm going to talk today about something I've been wanting to talk about for a while, and I think is a very important subject. Because the statistics show that 70% of the people in this country are looking for a way to make extra money, and most of them are losing money instead. And that's a shame. 

 There's basically two ways that you can make extra money. You can just work and earn money and then go back and work and earn money. And the other is to create residual income that continues to pay you money long after you've quit the work.  But there are some pitfalls you need to know before you start your journey.

Support the show

To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books

Let’s start off with the elephant in the room: Almost nobody likes to do paperwork. Especially the business person starting out whose sole objective is to get enough clients to pay the bills.

And yet, if you truly want to Protect the Profits that your business makes from runaway expenses or getting overly taxed - then we need to talk about bookkeeping, creating reports, and hiring people - and why they are so important to have a general understanding of.  They are  the glue that holds the whole thing together.

Support the show

To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books

If you are really serious about building a business to last a lifetime, it needs to be built on a solid foundation, not the shifting sands of life.  In this episode, we continue that journey with the second pillar of your foundation: Why it is important to have a basic understanding of the tax consequences of choosing the various legal formats for your business and why to know this if you are hiring an accountant or tax professional.

Support the show

To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books

If you are really serious about building a business to last a lifetime, it needs to be built on a solid foundation, not the shifting sands of life.  In this episode, we begin that journey with the first pillar of your foundation: Why it is important to have a basic understanding of the available legal formats you have to choose from and which is better for each stage of building your business.

Support the show

To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books

There's three pillars that undermine every business. I don't care if you're a small Schedule C or whether you're a huge C corporation, it doesn't matter. 

All three of these things are important. It's just the scale of them that changes. And those three pillars are your legal format, your logistical organizations, and your tax considerations. You have to know these because if you change one, it changes the other two. They work together. 

That's why it's important to know all three of these because if you change something over here, you could be changing things over there and not realize it, get yourself in a lot of trouble, or lose a lot of money in the process  

We don't want that.

Support the show

To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books

When it comes to considering how to get your business started, there are two problems that always seem to come up.  The first for many people is what kind of business is right for me.  The second is not taking a good look at the skills every business person needs to have in their arsenal to be successful.

In this episode, I will be going over the set of skills that all of the most successful business people have that you should also cultivate or hire someone that has them to build out the framework of your enterprise.

I will also briefly discuss how to go about finding business ideas that might work for the community that you live in.

But, most of all, it should give you a lot of food for thought.

Support the show

To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books

Today, I want to discuss the necessity of examining your life experiences to help you determine how to choose the right type of business for you.  After all, building a business is a huge undertaking, so wouldn’t it make sense to do something that you enjoy?

Most of us, as we go through life, realize what we like to do and what we don’t like to do.  It is a common reaction to our journey.  It is one of the things that steers us in our quest to have a good life. But have you ever really sat down and looked at all of those feeling to see how you could use that knowledge to determine exactly what business you should be in?

Support the show

To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books

 This podcast is dedicated to all of the small business owners in the United States, and our mission is to help you learn the foundational aspects of properly building a business.   We also like to talk about some subjects that'll make you think, that'll examine yourself, that'll put you in the best frame of mind to build a proper business. 

 But today I want to start with discussing why you may want to spend your precious time listening to this podcast.

Support the show

To learn about all of the small business educational and support options available, please visit our corporate website at https://seagulltechnologies.com

To get a copy of my book, "Mastering Business Basics - The Legal, Logistical, and Tax Considerations of Starting Small Business", you will find more information at https://seagulltechnologies.com/books