The IC-DISC Show
David Spray
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Join host David Spray, as he interviews business owners and industry leaders about the IC-DISC program. Insights and anecdotes to help you increase your after-tax income.
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Sep 22, 2023
Ep047: Unlocking the Secrets of Financial Growth with Kirk McLaren
In today's illuminating episode, listen in as I chat with Kirk McLaren, founder of Foresight CFO, about thriving in finance and business. Kirk lifts the veil on the strategic growth CFO role beyond tasks. Discover pivotal client habits and Kirk's innovative fractional model. An intriguing question prompts Kirk's life-shaping reflections. Dive into Kirk's book exploring transformational practices. Thought-provoking topics include Tesla's budgeting, lean innovator Joe Justice, and the power of tales. I also share leadership lessons from my CEO collaborations. Finally, uncover a CFO's higher mission. Kirk illuminates the Growth CFO Certification, empowering professionals as strategic partners. If you seek financial stewardship strategies or a richer purpose, this episode presents a treasury of wisdom for cultivating sustainable growth in your organization and career.
SHOW HIGHLIGHTS
* This episode features Kirk McLaren, the founder of Foresight CFO, and we discuss his unique role as a growth CFO and the innovative tactics he uses to provide fractional CFO services.
* McLaren shares his three key habits for growth, which are crucial for any manager to adapt for successful financial management.
* We dive into McLaren's book 'The Growth CFO Void', which offers practical habits that can transform a manager's life and has been published in collaboration with Forbes.
* McLaren and I discuss the intriguing idea of Tesla's non-existent budgeting process and its influence from lean manufacturing guru Joe Justice.
* We also explores the importance of employees taking ownership of their numbers and the critical role of daily dashboard tools for effective financial management.
* McLaren highlights the importance of CFOs becoming true allies of the CEO, stepping beyond tasks, and helping in decision-making processes.
* We talk about the CR Growth CFO Certification, an initiative that empowers financial professionals to enhance their role as a CFO.
* We explore the importance of meaningful connections in the financial growth and management sphere.
* He touches upon how Foresight CFO uses a three-person team approach to provide fractional CFO services, and the importance of having a learning mindset for successful financial management.
* We conclude with a discussion on the bigger purpose of a CFO in a company and how their role is not just limited to financial operations, but also involves strategic decision-making and navigating the company towards growth. LINKS
Show Notes
Be a Guest
About IC-DISC Alliance
About Foresight CFO
GUEST
Kirk McLaren
About Kirk
TRANSCRIPT
(AI transcript provided as supporting material and may contain errors)
David Spray Hi, my name is David Spray and welcome to another episode of the IC-DISC show. My guest today is Kirk McLaren, the founder of Foresight CFO. Foresight CFO describes themselves as a growth CFO, and we learn more about what Kirk means by this. During the interview, we also learn about the three habits that all of his clients utilize to help grow their companies. We also learn about Kirk's unique three-person team approach to providing fractional CFO services. And then Kirk also gave me an answer to a standard question. I ask of what do you wish you knew when you were 25 years old? And his answer is different than anyone else's I've heard. So Kirk brings a novel approach to outsource CFO and I really learned a lot about what's possible with a fractional CFO. So I hope you enjoyed this episode as much as I did. Kirk. Welcome to the podcast. Kirk McLaren Yeah, David, I'm so glad that you invited me here to talk to your guests and kind of explore backgrounds, that kind of stuff. David Spray Well, awesome, well, thank you for being on. So first off, I'd like to thank you for your service to our country. So, thank you for that. Kirk McLaren Yeah, that was a long time ago, back in 1991, and I was a long way from the bullets but literally left school, joined the army, became a behavioral scientist and that's how I ended up going from Houston, texas, you know, growing up as a young man there, and then dropped out of school, and that's how I ended up going from Houston to Washington DC and stayed here ever since. David Spray That's awesome, so let's get right into it. Talk to me about your company. Yeah, oversight. Cfo. Kirk McLaren Yeah. So the company started I mean roughly 30 years building mostly private business. I did some nonprofits and some quasi government stuff with the telecom industry and then, 30 years into, I started to notice that business owners oftentimes I'm the finest guy, I can see a clear opportunity, but the business owners were hesitate, they'd hesitate on making decisions and sometimes the fall through wasn't strong. And so I came to learn that a lot of business owners, their business becomes the monster of their own making. Right, they got all these hats on, they go on vacation. They're actually working remotely versus enjoying other things in their life like their family. And meanwhile, most CFOs including me, you know we occupied ourselves with financial management, the accounting operations, maybe treasury. If it's a bigger business, there could be like import, export taxes, kind of the things where your expertise come into play. We focus on those kind of things instead of alleviating the CEO's pain. So around 2015, I mean I kept getting hit in the head with things in life where, hey, maybe there's a better way, right, yeah, yeah, maybe, right, you know, things keep coming in and maybe I should pay attention to something here. And so in 2015, it started to reimagine that the CFO's role as a true navigator with the CEO, and by this I mean you know, learning. You know, as a CFO, a navigator side by side with the CEO, learning how to help the CEO escape the owner's trap. Like you know, they were born. There's something that the CEO is really good at but they're oftentimes not doing. They're not focused on that area. So how do we help them focus on that area? And how does, as a CFO, how do I collaborate with subject matter experts across the company, like like the CMOs and the salespeople and delivery people to help them obliterate the obstacles to growth? Right? So it's a broader partner than just the financial operation. And then you know, at the same time, while doing that, it's definitely those financial habits or profitability that allow us to see okay, where are we coming from, where are we going to? That was really the birth of the foresight CFO. It just kept seeing that business owner or private companies they get hung up, they're trapped, you know, by their business and so maybe there's a better way. David Spray That's where it all started, and so the foresight and the name means, I guess, looking forward instead of backwards no-transcript. Kirk McLaren Yeah, yeah, like, where do you want to? You got a business, you got into your business for a reason. What is your destination? Where do you want to end up? And a lot of times for me, I'm a big freedom guy. I mean, I want you know. I want freedom of time, freedom of money. I want freedom of purpose to do what I really care about, versus being tethered to some obligation that's not worthwhile. So that's the force. David Spray Don't forget the fourth. Don't forget the fourth freedom, freedom of relationship. Kirk McLaren Yeah, that's a big one right. So, dave, what does that mean to you? David Spray freedom of relationship, what it means associating, you know, serving who I want to serve, work with who I want to serve. So the reason I knew the fourth freedom was because I've spent many years in strategic coach, which is probably where you learn the four freedoms as well, I'm guessing, or from Dan Sullivan. Kirk McLaren Yeah, dan Sullivan, strategic goals are brilliant and so, but that's a key point when you can actually choose who you work with, you're both inside and outside. You know that's liberation, it is. Dav…
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Aug 18, 2023
Ep046: Exit Planning and Succession with Mike Silverman and Matt Clark
Today on the IC-DISC Podcast, I spoke with Mike Silverman and Matt Clark, two attorneys specializing in exit planning and succession planning for business owners. They explained that exit planning is all about planning when an owner wants to leave the company, while succession planning identifies future leaders within the business. Both are crucial since you need a strategy for expected and unexpected departures. Mike and Matt stressed meeting regularly so these plans stay on track and don't cause disruption. They also talked about having a whole team involved beyond just lawyers, with experts in different fields all working together towards long-term goals. The overall message I got from listening was planning early, working with professionals with experience like Matt and Mike, and sticking with the process to ensure that transitions go smoothly for everyone.
SHOW HIGHLIGHTS
* Many business owners tend to push exit and succession planning to the bottom of their to-do list, focusing instead on day-to-day operations.
* Sudden exits without a succession plan can leave the business leaderless and destroy its value. By recognizing the need for succession planning early on, you can protect and maximize the value of your business.
* Planning helps align goals and increase value for employees, family, and the owner. Clear vision and goals for all stakeholders are necessary for a successful succession plan.
* Without planning, a sudden exit can result in a dramatic reduction in the value of the business.
* Having the right people in place and a solid succession plan increases the value of the business to potential buyers.
* A turnkey business that can generate income without the owner's presence is of premium value.
* They emphasize the importance of working with a team of experts, including estate planning attorneys, CPAs, and wealth advisors. These professionals can provide valuable insights and ensure a comprehensive plan is in place.
* They also mention that M&A lawyers often push for third-party sales because it's what they know and are experienced in.
* Planning is not a one-time event but an ongoing process that requires regular meetings and adjustments. Embrace the process, and you'll be well on your way to a successful exit and a bright future for your business.
* The conversation touches on the indirect acquisition structure and ESOPs as potential strategies. LINKS
Show Notes
Be a Guest
About IC-DISC Alliance
About Dentons
GUEST
Mike Silverman
About Mike
Matthew Clark
About Matthew
TRANSCRIPT
(AI transcript provided as supporting material and may contain errors)
David Spray Hi, my name is David Spray, and welcome to another episode of The Icdisc Show. I have a really unique episode today because I have two guests on simultaneously. That's Matt Clark and Mike Silverman. They are both attorneys at the law firm of Denton's, and they're both in the Pittsburgh office. And they have a unique practice around exit planning and succession planning. But it has very much a planning focus rather than a traditional M, a practice that seems to have more of a transactional focus. We talk about all kinds of things around planning, the need for regular meetings to implement succession and exit planning. And we also talk about how ESOPs employee stock ownership plans are one of the best deals in the tax code. That's incredibly underutilized for exit planning. Mike talks in great detail about some of the benefits of ESOP. So this is a great episode for any business owner or key executive at a privately held company to consider. So I hope you enjoy this episode as much as I did. Good morning, gentlemen. How are you all doing today? Good morning. David Spray Very well. David Spray Good morning. Mike Silverman Fantastic. How are you doing, David? David Spray I am doing great, thank you. Well, I've really been looking forward to this interview because you guys really have some great experience that I think will really benefit clients of mine, as well as just listeners to the podcast. So why don't we just kick off with a little background. Matt, why don't we start with you? Oh, by the way, you guys are calling from Pittsburgh today. Both of you, correct? That's correct. Okay, so, Matt, let's start off with you. Are you a Pittsburgh native? Matt Clark No, I'm actually a native outside of I grew up outside of Philadelphia and made my way to Pittsburgh 30 plus years ago. And I call Pittsburgh home now. I went to Duquesne University for undergrad and then law school. My practice is corporate practice. I work with entrepreneurs and business owners and various areas, but a big part of it is part of their exit planning, and succession planning is a big part of our practice. And so I get to work with fantastic colleagues like Mike, who is certified, but in exit planning and succession planning. And so we just have a fantastic team based in Pittsburgh. But I'm with Denton's. We're the largest law firm in the world, and so we have the ability to work with clients on a truly a global basis to make sure that we're meeting and fulfilling all of their legal needs. David Spray Great. That's great. Well, thank you for that quick background. Now. What about you, Mike? Are you a native Pittsburgh bergonian what's the term? Mike Silverman I think they call them Pittsburgh. David Spray Okay. Mike Silverman But yes, I'm born and bred, have always lived here in Pittsburgh. I grew up in the eastern suburbs. I went to college in Baltimore at Johns Hopkins University. I got my law degree at University of Pittsburgh, and then I got a master's in tax law after law school at New York University Law School. And like Matt, I'm a business attorney and I represent middle market companies throughout the lifecycle of a business, and succession planning isn't a very significant part of my legal practice. David Spray Okay, that's great. And do you have an accounting undergrad graduate degree? Mike Silverman No, undergrad. Odly, enough. I was an engineering major undergrad. I thought I was going to become my patent lawyer, but I fell in love with my tax courses in law school, so I went a different route. David Spray Okay, well, sounds good. So one of the things that is I've gotten to know you guys that I've learned is I had a misconception that exit planning and succession planning were basically the same thing. But as I've learned more about this, there appears to really be a significant difference. Mike, why don't you share with the audience how you delineate between exit planning and succession planning? Mike Silverman Well, ever y new corporate client that I get, I ask them the rhetorical question of whether they've done their exit planning and succession planning, and the answer invariably is no. And they also have this misconception that you referred to that exit planning and succession planning are redundant with one another. And that is a misconception because they're totally discreet. Exit planning is the planning exercise we go through to identify the structure under which a business owner is going to exit from his or her business. And there's a lot involved with developing that structure. We'll talk about it during the course of the podcast, but we want to do a deep dive into your business to figure out what your goals are personal goals, financial goals, business goals, and then figure out what kind of exit structure facilitates those goals and enables you to achieve those goals. Succession planning is very different. Succession planning, what we're going to do there is to identify who are the key employees in the operation of a business. And then once we've identified those individuals, we have to identify who their successors are going to be. Are there people that are coming up through the ranks in the company, or do we have to go out and recruit people laterally so that we don't have a drop off if an employee leaves or gets hit by a bus, et cetera.…
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Jul 27, 2023
Ep045: Mastering The Art of Financial Planning with Jackie Campbell
In today’s episode of the IC-DISC podcast, we sit down with Jackie Campbell, a savvy CPA, founding partner of a thriving firm in Tampa, and the engaging host of her own radio show and podcast, Beyond the Money. Jackie generously shares her firm's unique 360-degree approach to financial planning, propelling clients towards a secure future. We dig deep into the importance of believing in oneself, the necessity of having succession plans, and how to stay connected with clients. Jackie highlights the importance of strategic planning, building generational wealth, and her passion for helping those in the "retirement red zone" and first responders.
SHOW HIGHLIGHTS
* Jackie, a CPA and founding partner at a firm in Tampa, Florida, shares her firm's unique approach to financial planning. They take a 360-degree view of their clients' financial history and patterns, and use these insights to strategically plan for the future.
* Her firm has created the 'hero package', a document storage system designed to prepare clients for unexpected life events. This has proven to be an extremely beneficial tool for clients and their families.
* Jackie also runs a radio show, Beyond the Money, where she promotes financial literacy. She shares her clients' successes and educates listeners on various financial topics.
* She transitioned from radio to podcasting to delve deeper into financial topics. This medium allows her to explore complex subjects in greater detail and share her wealth of knowledge with a broader audience.
* Jackie believes in the importance of self-trust and confidence. She encourages listeners to believe in their capabilities and not be overly concerned with others' opinions.
* She emphasizes the importance of having a succession plan for businesses. Having a plan in place can prevent confusion and complications in the event of unforeseen circumstances.
* Jackie's firm serves clients all over the United States and Europe, focusing particularly on those in the retirement 'red zone' and first responders. Her unique timeline process helps clients plan for upcoming life milestones.
* She advocates for progress over perfection. She believes that being organized and having all important documents and passwords in one place can make a significant difference.
* Jackie's firm is considered a full-service planning firm. They collaborate with attorneys and other professionals to provide a comprehensive 360-degree view of their clients' lives.
* Through her radio show and podcast, Jackie has been able to interview celebrities and share their personal financial planning stories. These interviews provide listeners with a unique perspective on financial planning and management. LINKS
Show Notes
Be a Guest
About IC-DISC Alliance
About Campbell & Co
GUEST
Jackie Campbell
About Jackie
TRANSCRIPT
(AI transcript provided as supporting material and may contain errors)
David Spray Good morning, jackie, how good morning. Jackie Campbell I'm doing ve past the summer storms, he will be doing good yeah. David Spray a native of Houston, texas, the Gulf Coast, summer sto part of florida, are you? Jackie Campbell I'm right, just north abo right there in the center, the west coast. David Spray Okay, and that part of the state. Jackie Campbell I but I'm originally from t florida panhandle, where t beaches are up near Fort nice, and what brought yo part of florida. Wow, my and he was in law enforci with the state of florida here for his very first s of Tampa and we've been h 10 years now. David Spray And I guess in your career it was z started there as anywhere up here at University of in Tampa and you know it working. Jackie Campbell The next thing y firm one of the youngest state of florida having m have kids and they start history. David Spray Oh, that is awes before you. You, you struck. Jackie Campbell Well, I started with the. Even knew what a CPA was high school. I kind of fou job when I was in college sort of kind of all, came bit of experience in diff and public accounting be had my college sugary, so a few different things p and decided that public a more my line and kind of head of schedule of havin a lot of ideas and you kn it your way, I guess is t any specific event that the move or well, having t had this great idea, you think we're smarter than two toddlers and I thought more time with my kids. David Spray I and you know that lasti and you know three employ to get an office locatiin and just kept going from would imagine, because I m started our career probab, back when we started our weren't as kind of family are now, or they that that will train you very well. Jackie Campbell Larger firms, the regional, expect you know a lot f. David Spray Okay, so you started your. Why don't we just kind of the firm? What would you, your clients say, make your than just the average CPA? Jackie Campbell think just experience has right. I think that is on is different. One thing t clients is just the trust and you know you would t really easy to earn or to, but you know that's not, and we've been in busines over 30 years so that's working with not only one. We go into the second and whether it's a small busi or whether it's just an, I already been retired and so I would say that pretty, we are a planning, firm th thing that we do a little. We don't just look at hist, our historians looking at happen. I think we have an unique ability is to be a going on now what the pa and what that pattern is, be moved forward and plan strategic, being tactical along the way as those ma come along the planned on. So I think that you know the 360 degree lens is re became duly licensed as f. We were allowed so back the first time a CPA acti than one license because a responsibility and the know been regarded as a. So just looking at that f with attorneys, collabori, make sure that we get tha and what the advisors are, the strategy, what that' does take place. David Spray Yeah, I I've always thought that presented themselves that for CPA firms because you know the trusted advisere communicating with your cl annually just because of compliance and it just se for whatever reason it j of CPA firms have maybe d but really weren't able t practices very well. So y life from your client's p to have kind of this one. Obviously the legal is st with somebody else for th three legs of that stool, the planning and financia, the legal you're covering. That sounds great and th guys end up typically bei, would you say, because yo at like a state planning in the attorneys for that many plans are created. B would do you all have you that, or is that pretty much and the attorney to to imp. Jackie Campbell I would say it depends on. Some people are really n always looking and learni what options or oppurtunit for them, so they will su ideas. Sometimes it's jus conversations. You know a plan, it's just very we isn't sure. But yeah, we role. Quite often I had s through the years where s an attorney, they would h, they would have a trust a be titled in the trust, a advisor or the insurance having a certain plan or ramifications of their t legally can't talk about, I can't talk, I can't dis to talk to your accountso prepare and then as the C kind of cleaning everything. Wait, you have a trust W all your financial account. It's just about pulling t and making sure that is t in direction that you're that road mount together. The other day, the one th it's in the water is the. The same story. It's hard. Professional advisors you advice and see a lot of p challenges and the oppurt when it comes to yourself, to the scenario. David Spray Yeah th the shoes situation right, you all are. You also set, in addition to the planin, the implementation, as far you know, insurance prode funding vehicles in that. Jackie Campbell Yeah, we're considered a firm. So you know, pretty with money we're able to with someone and find a s, someone who actually spea either tax law or that str, to look at it as pr…
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Jun 28, 2023
Ep044: Returns on an Alternative Investment Class with Hayden Kelly
In today’s episode of the IC-Disc podcast, I have a great guest today, Hayden Kelly from Chicago. He is with Chicago Atlantic and they have a really interesting cannabis fund for accredited investors. They've identified a market inefficiency because endowments, institutions, and non-profits are usually prohibited from investing in cannabis. Additionally, these cannabis companies are typically not bankable for traditional debt. So Chicago Atlantic has a really interesting debt model for accredited investors, with great collateral coverage and attractive loan-to-value ratios. Hayden is a really interesting guy, and even if you're not investing, he has a really interesting update on the state of the cannabis business, especially east of the Mississippi. In fact, Hayden shares some background on cannabis legalization history and why states east of the Mississippi are more financially attractive. I hope you enjoy the episode.
SHOW HIGHLIGHTS
* Chicago Atlantic leverages market inefficiencies in the cannabis industry to provide high-yield investment opportunities for accredited investors.
* Endowments, institutions, and nonprofits are typically prohibited from investing in cannabis, leaving a lucrative market for accredited investors.
* Chicago Atlantic's cannibus fund provides low-leverage loans to cannabis operators, offering attractive returns with high collateral coverage and loan-to-value ratios.
* Delayed draw term loans, low-leverage structures, amortization of loans, and floating rate loans are some benefits of investing in cannabis loans.
* Well-collateralized loans and the value of licenses as collateral add security to investments in the cannabis industry.
* There are two types of markets in cannabis: unlimited license models and limited license models, with the latter offering greater market control and higher valuations.
* The mispriced risk in the cannabis industry allows for higher investment returns, as operators prefer paying higher interest rates on debt rather than selling equity at depressed prices.
* Political uncertainties and regulatory hurdles in the cannabis industry contribute to the mispriced risk and present unique opportunities for investors.
* The black market for cannabis still exists due to high taxes and regulations in states like California, impacting legal operators and consumers.
* Chicago Atlantic's focus on high-collateral cannabis loans and low-leverage structures presents a unique opportunity for investors in the rapidly growing industry. TRANSCRIPT
(AI transcript provided as supporting material and may contain errors)
Dave Spray Hey, this is Dave. Welcome to another episode of the podcast. I had a great guest today, Hayden Kelly. He's with Chicago Atlantic and they have a really interesting Anibus fund for accredited investors. They've identified a market inefficiency because endowments institutions nonprofits are usually prohibited from investing in cannabis But additionally, these companies are not really bankable for traditional debt. So they have a really interesting debt model for accredited investors that has some really attractive returns with unbelievable collateral coverage and loan to value ratios. So Hayden is a really interesting guy And, even if you're not investing, he has a really interesting update on the state of the cannabis business, especially east of the Mississippi, as it relates to cannabis from a purely financial aspect. Hope you enjoy Well. Good morning, hayden. Welcome to the podcast. Hayden Kelly Thanks, david, appreciate you having me? Dave Spray Yeah, my pleasure. So what were you calling into? from today Are? Hayden Kelly you in Chicago. Despite the background, i'm actually in Miami, our offices are based out of Chicago. We have an office in Miami as well, but I made the move down to South Florida a little over eight months ago. Dave Spray OK, now are you so eight months ago? Sorry, are you a native of Chicago then, or how'd you end up in Chicago? Hayden Kelly Yeah, born and raised in Delaware. Actually, i spent two years in Chicago. I went to the University of Delaware, made the move to Chicago just in the beginning of 2020. I enjoyed the city. It's a great city. We just have a lot of clientele through South Florida and decided to make the move here for convenience. Whether that's a great place to be. Dave Spray OK, well, super. So let's talk about Chicago Atlantic real estate finance. So if I've got like a couple of single family homes that I want to rent out, are you getting the guys I call to get that financed? There's a little more to it than that. Hayden Kelly Yeah, no, absolutely, it's a little bit different. So we do operate as a REIT. Our public vehicle is a publicly traded mortgage. Right now, what I specialize in and where I work with is our private funds, which is very similar to the REIT the extent of the industries in which we invest in the collateral we we obtain as collateral towards loans. We make direct loans, and Chicago Atlantic as a whole is credit oriented. We're an investment platform that focuses on making loans to industries that for maybe some reason, banks won't lend to. Maybe it's one industry that we've really specialized in over the last four years is the US medical and recreational cannabis industry. So, ok, we started making loans in 2019. We have a public REIT on Nasdaq, we have a private credit fund, we have an equity fund and a variety of vehicles and our goals to get outsized returns to investors with very limited downside risk, and we're an industry where there's very limited competition. Dave Spray OK, i'd love to just dive into that cannabis industry. You know, kind of the last I looked at it, geez, four or five years ago, it seemed like because of the of us being a listed drug. Is it listed? What's the correct technical term? It is still a scheduled substance. Scheduled substance, yeah. So it created this hodgepodge thing where they couldn't use credit cards, they couldn't have a bank account, everything was in cash. Is that evolved in the business or is that still the case? Hayden Kelly So a few are still the case, still scheduled. You have an industry that is, for that reason, unbankable. So the big banks, the insurance companies, the endowments, the pensions, the institutions of the world that are typically the big check writers, the big investors in any traditional industry, are shut out from investing due to that lack of federal legalization, where the federal government has said you know, at states, you decide what you want to do. There's 22 states with recreational programs, meaning anyone over the age of 21 can consume cannabis and purchase it like alcohol, and then 38 with some sort of medical program where, if it's chronic pain, sleep apnea, etc. You can acquire cannabis with a note from a doctor and a prescription to be filled at a dispensary. Now your point on the card is completely right No credit card processing in dispensaries, and now what they do have is ATM obviously withdrawals, which is easy for cash transactions, but also you have debit card processing in a good chunk of dispensaries. What we've seen, though, is a big misconception on operators. Everyone thinks operators can't get bank accounts. They're paying us off through amortization payments for our loans and cash and trash bags account. The reality is there's probably anywhere from two to six state chartered banks. These are local banks that will take deposits, open up bank accounts for operators That's how we get comfortable potentially making loans And we require operators that bank accounts for at least a year and a half before we would consider a loan. So to that extent there are bank accounts in the space, but there definitely are a lot of regulatory hurdles at the operators' face. Dave Spray Okay. So I suppose I think it was Zig Ziglar that said every obstacle contains the seed of an equal or greater opportunity. So it kind of sound…
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May 24, 2023
EP043: Estate Planning Strategies for a Lasting Legacy with Marvin Blum
In today’s episode of the IC-DISC podcast, I had the pleasure of speaking with Marvin Blum, one of the top estate-planning attorneys in the country. Marvin shares his unique approach to estate-planning that focuses on the head and the heart of the matter. Listen in as Marvin and I discuss the current state of estate planning and the unique opportunity presented by today's (historically) large estate-tax exemption. We explore the concept of 'Use it or Lose it' and how various trusts can be used to maintain access, control, and flexibility while avoiding potential pitfalls. We also touch on the impact of wealth, inflation, and the political climate on estate planning tools and the importance of preparing heirs to receive their inheritance. Finally, we also delve into the challenges that family businesses face when estate planning is neglected, and the power of philanthropy to keep a family connected. Marvin's insights and expertise make this episode a must-listen for anyone interested in estate planning, wealth management, and leaving a lasting legacy. LINKS
Show Notes
Be a Guest
About IC-DISC Alliance
About The Blum Firm
GUEST
Marvin Blum
About Marvin
Special Guest: Marvin Blum.
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May 1, 2023
Ep042: Subscription CPA Success with Greg O'Brien
In today's episode of the IC-DISC podcast, I am talking to Greg O'Brien from Boston. Greg has one of the most interesting CPA practices I've ever seen. Not only is it a virtual firm with employees and clients located all over the country, but they serve clients on a subscription basis only. We talked about how he ended up with this model and how it has evolved over time, based on both client and employee feedback. Greg is a dynamic, forward-looking professional who is on the cutting edge of a new trend in the CPA profession. LINKS
Show Notes
Be a Guest
About IC-DISC Alliance
About Anomaly
GUEST
Greg O'Brien, CPA
About Greg
Special Guest: Greg O’Brien, CPA, CTS.
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Mar 14, 2023
Ep041: Being a Deal Attorney with John Walker
In this episode of the IC-DISC podcast we’re talking to John H. Walker, a mergers & acquisitions attorney in Houston. In the past, John has done hundreds of transactions, on both the buy-side and the sell-side for a number of different public and private companies. But he really loves representing sellers who are selling to much larger, more sophisticated buyers, in which he is able to level the playing field. You will enjoy this wide ranging conversation. John has some great stories, client success stories, and examples of things that can go wrong. It was a really interesting conversation and I learned a lot about some things to be on the lookout for when you're considering selling your company. I hope you enjoy the episode. LINKS
Show Notes
Be a Guest
About IC-DISC Alliance
About Walker Law
GUEST
John Walker
About John
Special Guest: John H. Walker.
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Feb 10, 2023
Ep040: Serving the Scrap Industry with Bob Emery
Today on the IC-DISC show we are talking to Bob Emery, founder of Metals Recycling Magazine. We have known each other for more than a decade. He's very active in the scrap metal business and has a great story about why he started Metals Recycling Magazine after a long tenure in the scrap trade industry. We talked about why he started it as his first entrepreneurial venture, concerns, and lessons learned, and what advice he'd give to his 25-year-old self. If you're in the scrap metal industry like many of our clients are, I recommend listening to it. And even if you're not, there are some good nuggets in there. I hope you enjoy the episode. LINKS
Show Notes
Be a Guest
About IC-DISC Alliance
About Metals Recycling Magazine
GUEST
Bob Emery
About Bob
Special Guest: Bob Emery.
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Dec 15, 2022
Ep039: Deliberate Growth with Mike Till
On the podcast today we are joined by Michael Till, a senior partner at the CPA firm Mohle Adams. Mohle Adams has a unique background in that it is 75 years old but has only six partners and about 45 total people on the team. That is quite unusual compared to most CPA firms. However, this slow growth rate has been very deliberate and has helped them to be highly focused on accepting only clients who are the right fit for the firm to do an exceptional job for the client. We talk about Mike's background, the history of the firm, some clients success story examples, and different attitudes and mindsets that are unique in the CPA profession. He also talks about the types of companies he really likes to work with. LINKS
Show Notes
Be a Guest
About IC-DISC Alliance
About Mohle Adams
GUEST
Michael Till
About Michael
Special Guest: Michael Till.
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Nov 20, 2022
Ep038: Supporting CPA Firms With Their IC-DISC Clients
Today on the IC-DISC Show, we're talking with Brian Schwam, National Managing Director of International Tax at WTP Advisors. WTP Advisors and Export Advisors are the two founding members of the IC-DISC Alliance, and in this episode, we talk about the work we do with CPA firms to support their clients who have, or would benefit from having, an IC-DISC. Removing any concern about 'losing' clients to a competitor. This collaborative approach is a great way for CPA firms to expand their client offerings due to the specialist nature of the Alliance work. The flexible engagement model also ensures firms remain in control of the client relationship. This was a really interesting conversation and highlights the partnership opportunities that allow everyone involved to focus on what they do best. LINKS
Show Notes
Be a Guest
About IC-DISC Alliance
About Engineered Tax Services
GUEST
Brian Schwam
About Brian
Special Guest: Brian Schwam.
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Oct 20, 2022
Ep037: Cost Segregation in Real Estate with Heidi Henderson
My guest today is Heidi Henderson. She serves as the Executive Vice President for Engineered Tax Services and oversees the marketing and advertising efforts along with business development. Although ETS is based in Southern Florida, Heidi is actually located in Utah. Doing cost segregation work, mostly on real estate projects, we talk about some of the differentiators for Engineered Tax Services, what clients say about them, and what makes Heidi really proud about the firm. This was a great episode talking about her background - how she got into the real estate business and then how that translated to joining Engineered Tax Services about 12 years ago. We wrapped things up with Heidi sharing some lessons that she's learned through her career and advice that she would give to her 25-year-old self. LINKS
Show Notes
Be a Guest
About IC-DISC Alliance
About Engineered Tax Services
GUEST
Heidi Henderson
About Heidi
Special Guest: Heidi Henderson.
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Sep 14, 2022
Ep036: Protecting Your Intellectual Property with Al Deaver
In today's episode, we meet Al Deaver, an intellectual property lawyer and Principal at the Houston-based law firm of McAughan Deaver. Al's undergraduate degree is actually in mechanical engineering and he then paired that with a law degree, making him incredibly proficient with the more technical aspects of intellectual property. In this episode we talked about some things for exporters to be aware of when dealing with trademarks, copyrights and patents. We also discussed getting patents granted in different markets as well as securing your IP right here in the USA. Our discussion is incredibly useful for anyone considering widening the reach of their products now or in the future. I hope you enjoy the episode. LINKS
Show Notes
Be a Guest
About IC-DISC Alliance
About McAughan Deaver PLLC
GUEST
Al Deaver
About Al
Special Guest: Albert Deaver.
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Aug 17, 2022
Ep035: Focusing on Planning and Implementation with Laura Stees
Today's guest is Laura Stees, a CPA, business strategist, and partner at Stees, Walker & Company LLP in San Diego, California. Laura has a really unique tax practice where she really focuses more on planning and implementation rather than compliance. Her firm does the compliance, but in her experience, it's the planning and maybe even more importantly, the implementation of the planning in which there's a big gap in the marketplace. And we had a really interesting conversation around the things her firm does that differentiate it from other firms and their hyper focus on planning and implementation. There are a lot of great takeaways here, and anyone with an interest in business will gain a lot from taking a listen. LINKS
Show Notes
Be a Guest
About IC-DISC Alliance
About Stees, Walker & Company LLP Firm
GUEST
Laura Stees
About Laura
Special Guest: Laura Stees.
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Jul 15, 2022
Ep034: Understanding Tax Law with Lucy Petry
In today's episode of the IC-DISC Show, we have the pleasure of talking to Lucy Petry, an accomplished tax professional and attorney who recently received her LLM in taxation. She has also been a professor for accounting classes at the University of St. Thomas and law classes at the South Texas College of Law. In this show, we talk about a significant upcoming tax law change that will have substantial reporting requirements for every business owner with a legal entity, as well as the company's shareholders. Lucy also delved deeper into some other parts of the tax code that are helpful for individuals to be aware of, but the average person may not know. It's up right now at www.IC-DISCshow.com/034. LINKS
Show Notes
Be a Guest
About IC-DISC Alliance
About Petry Law Firm
GUEST
Lucy Petry
About Lucy
Special Guest: Lucy Petry.
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Jun 15, 2022
Ep033: Operating With Strategic Advantage with Brett Ekart
Today on the IC-DISC Show, we're speaking with Brett Ekart, CEO of United Metals Recycling, a metals recycling and processing company based in Boise, Idaho, and host of the podcast A Scrap Life. Brett grew up in the recycling industry. He loves its potential, and this life-long engagement has given him a different perspective on the business. Instead of considering it a commodity business, he views it as a customer-service business. We discuss this idea and the strategies he's successfully used in the scrap and recycling industry, continuously leveraging any unique advantage to get ahead of his competition. This is a great show, and the ideas Brett shares can be applied by any entrepreneur in any industry. LINKS
Show Notes
Be a Guest
About the IC-DISC Alliance
About United Metals
GUEST
Brett Ekart
About Brett
Special Guest: Brett Ekart.
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May 18, 2022
Ep032: The IC-DISC Alliance with Brian Schwam & Jim Fyhrie
In today's IC-DISC Show, I am joined by Brian Schwam & Jim Fyhrie of WTP Advisors, for a special episode as we announce the formation of the IC-DISC Alliance. The Alliance is a collaboration between the premiere IC-DISC consulting firms in the country with the goal of being the most comprehensive IC-DISC resource available anywhere. The founding members of the Alliance are Export Advisors and WTP Advisors. In the show, we get a chance to explore the background of the Alliance and the advantages it brings to clients and their advisors. To learn more about the IC-DISC Alliance, visit https://ic-disc.com. LINKS
Show Notes
Be a Guest
About the IC-DISC Alliance
GUESTS
Jim Fyhrie
About Jim
Brian Schwam
About Brian
Special Guests: Brian Schwam and Jim Fyhrie.
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Apr 25, 2022
Ep031: Financing and Growing Your Business with Ben Lehrer
Today on the IC-DISC Show, we have the pleasure of talking to Ben Lehrer, the founder and CEO of First Water, an advisory firm here in Houston. First Water connects teams with data to companies with capital through a concept Ben calls "Relational Finance" and in this episode, we talk about Ben's background, what inspired him to start First Water, the type of companies they help, and his book, "Relational Finance: The New Model to Accelerate Growth, Attract Capital, and Maximize the Value of Your Business." Ben's company is unique in the mergers and acquisitions world, and if you're an entrepreneur with an established business that's looking to grow organically or through acquisition, then this episode is for you. LINKS
Show Notes
Be a Guest
About Export Advisors
About First Water
GUEST
Ben Lehrer
About Ben
Special Guest: Ben Lehrer.
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Mar 24, 2022
Ep030: Earning Internal & External Loyalty with Chris Dooley
Today on the IC-DISC Show, we're talking with Chris Dooley, CEO of Dooley Tackaberry, a fourth-generation firm founded 97 years ago in Beaumont, Texas. The company is one of the most reliable suppliers of fire and safety products to oil, gas, and municipal markets, and we had a great conversation about what it's like to be the fourth generation of a family-run business. Chris has an amazing relationship with his employees, and he describes the company as being like an extended family that functions like a well-oiled machine. We further discuss how this relationship and the company's nimble approach to requests from small and Fortune 100 companies lead to deeper customer satisfaction and loyalty. This is a great show, with many examples of a company focusing on becoming a trusted partner. LINKS
Show Notes
Be a Guest
About Export Advisors
About Dooley Tackaberry
GUEST
Chris Dooley
About Chris
Special Guest: Chris Dooley.
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Feb 22, 2022
Ep029: The Business Owner's Dilemma with Ali Nasser
Ali, you may remember, has a hugely successful wealth management firm based in Houston, but he is back as a guest because he's just released his new book, The Business Owner's Dilemma looking at the 3 dilemmas we face as business owners. It's a great conversation talking about the book, why he wrote it, how he sees it as more of a ROLE (return on life experience) project rather than an ROI project, and why entrepreneurs are fundamentally different from non-entrepreneurs when it comes to wealth and legacy planning. One of the book's biggest takeaways is to achieve clarity and a path toward planning and capturing your life's work, so I highly recommend checking out Ali's book at www.alinasser.com. LINKS
Show Notes
Be a Guest
About Export Advisors
About The Business Owner's Dilemma
GUEST
Ali Nasser
About Ali
Special Guest: Ali Nasser.
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Feb 1, 2022
Ep028: Understanding COVID Tax Credits with Dave Manges
Today on the IC-DISC Show, we're talking with Dave Manges, Founder and President of Reinsman Consulting, a specialty consulting firm based in Dallas, Texas, helping small and medium-size businesses navigate the complexities of the Employee Retention Credit and other COVID-19 stimulus programs. Dave has an interesting story. He was on a partnership track at a big four accounting firm, but when the various COVID relief packages came into effect, he saw an opportunity to focus on helping the small and medium market. His employer was focused on the higher-end, larger firm market, so Dave took the chance and launched his firm to support this group. He hasn't looked back since. He has a real passion for helping business owners, thriving on doing a great job for them, and this episode has some great insights into the tax credits and stimulus packages that are available and how his diverse background contributes to his ongoing success. If you are interested in exploring your situation with Dav…
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Oct 14, 2021
Ep027: Total Quality Management with Michael Kramer
Today on the IC-DISC Show, we're talking with Michael Kramer, President of ManageHub, a specialty consulting firm based in Chicago, who use the Malcolm Baldridge principles of total quality management to dramatically improve a company's quality and performance in a relatively short period of time. We had a great conversation about some of the client successes he's had, the history of Baldrige, and also what a tremendously underutilized, American-made system Baldrige is. Mike really has a passion for sharing this system high and wide to every US company, so if you've ever wanted to learn more about the benefit of exceptional quality and excellence in your own organization, this episode has a lot of great ideas and insights. LINKS
Show Notes
Be a Guest
About Export Advisors
About ManageHub
Baldridge 2020 Executive Guide
GUEST
Michael Kramer
About Michael
Special Guest: Michael Kramer.
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Aug 25, 2021
Ep026: Premium Financed Insurance with John McDonough
Today on the IC-DISC Show, we're talking with John McDonough, a Financed Insurance Specialist based in Houston. John works with ultra high-net-worth families and C-suite executives to create innovative insurance solutions, and this is a very interesting episode because we had the opportunity to talk about his services and the challenge of helping people understand these new ideas. He has a detailed understanding of the leverage that premium finance life insurance can provide to the ultra-wealthy for estate tax liquidity, and to companies for executive retention in the C-suite, and this really was one of the most interesting calls I've had in a long time. LINKS
Show Notes
Be a Guest
GUEST
John McDonough
About John
Special Guest: John McDonough.
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Jul 15, 2021
Ep025: The IC-DISC in 2021
Today on the IC-DISC Show, we have a little different type of podcast. Rather than speaking with a guest, I'm going to do a short episode in which I answer the most common questions we've received this year about the future of the IC-DISC given the new administration. A change in administration always raises concerns, so I want to share some of the opportunities and challenges of using the program. Q&A shows always raise more questions, so if there are any points I didn't cover, please use the contact form to send me a message. LINKS
Show Notes
Transcript
Be a Guest
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May 7, 2021
Ep024: Learning From Your Customers with Paul Liberato
Today on the IC-DISC Show, we're talking with Paul Liberato, President of Billy Pugh, a pioneering offshore safety equipment company based in Corpus Christi, Texas. I've known Paul for some time but didn't know his entire story. This podcast was a great opportunity to understand some of what he's achieved since becoming President. For the last 32 years, some of their best product solutions have come from customers with real-life problems, and we had a really insightful conversation about this strong customer/supplier relationship and how that makes a company stronger. I enjoyed this episode and the chance to talk about the possibilities that come from learning from your customers. LINKS
Show Notes
Transcript
Be a Guest
GUEST
Ron Baker
About Paul
Special Guest: Paul Liberato.
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Apr 9, 2021
Ep023: Revolutionary Pricing with Ron Baker
Today on the IC-DISC Show, we're talking with Ron Baker, founder of VeraSage Institute, a think tank dedicated to teaching value-based pricing, and host of the Soul of Enterprise podcast. This really was a bucket list interview for me. Ron's work has literally added millions of dollars of value to our business and our clients. He's an amazing thought leader, and if you're in an industry where billable hours are the prevailing idea, his insights into revolutionary pricing models can be a game-changer for your business. Even if you're not in a professional services business, his ideas on creating subscription services for all kinds of businesses are really interesting. So, we had a wide-ranging conversation. He had lots of great examples, and I'm sure you'll find something to make you think about your pricing in this episode. LINKS
Show Notes
Transcript
Be a Guest
GUEST
Ron Baker
About Ron
Special Guest: Ron Baker.
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Mar 19, 2021
Ep022: CPA Misconceptions with Randy Reimer
Today on the IC-DISC Show, I'm talking with my good friend Randy Reimer, owner of Houston-based boutique CPA firm Reimer, McGuinness & Associates.
We had a great, wide-ranging conversation about Randy's experience, including talking about some of the misconceptions people have about CPA firms and some of the mistakes entrepreneurs make when setting up their business.
Randy has been the CPA for our firm and our family for many years, so it was especially exciting to be able to share some of his knowledge on the show.
Have you ever wanted your own podcast?
I've created a 2-minute scorecard at YourPodcastScore.com that looks at eight indicators of how a podcast can amplify your message.
If you've ever wondered if a podcast is right for you, take a look. LINKS
Show Notes
Transcript
Be a Guest
GUEST
Randy Reimer
About Randy
Special Guest: Randy Reimer.
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Mar 3, 2021
Ep021: Delivering Results with Dave Kane
Today on the IC-DISC Show, we're talking with Dave Kane, President of 21st Century Programming, a software company that creates programs for scrap recyclers to run and improve their business.
Dave's name will be familiar to many in the scrap metal business, but even if you're in a different industry, this is an interesting episode because of 21st Century's approach to developing software based on the needs of their clients.
I really enjoyed this conversation looking at the history of the company, how customers requirements and expectations have changed over the years, and we also had the chance to discuss a new collaboration between Export Advisors and 21st Century Programming to help scrap exporters quickly identify the tax savings they could achieve from an IC-DISC.
This is a great episode that really highlights the opportunity to create a win for your clients by removing any friction. LINKS
Show Notes
Transcript
Be a Guest
GUEST
Dave Kane
About Dave
Special Guest: Dave Kan…
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Feb 17, 2021
Ep020: Choosing a Specialist with Ron Hallmark
Today on the IC-DISC Show, we're talking with Ron Hallmark of Hibbs-Hallmark, a specialty property and casualty insurance broker with a focus on the scrap metal industry.
This was a great episode and especially useful for anyone in the scrap metal industry because, whereas many of these companies are served by generalist brokers, Ron's company approaches insurance from the opposite perspective. They focus on just one industry, nationwide.
We dive into some of the reasons using a specialty insurance broker can really make a lot of economic sense when it comes to things like potentially dramatically lower premiums, better coverage, and better outcomes in the event of a claim.
I really enjoyed this episode. There is a lot to take away. LINKS
Show Notes
Transcript
Be a Guest
GUEST
Ron Hallmark
About Ron
Special Guest: Ron Hallmark.
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Feb 9, 2021
Ep019: Creating Value with John Warrillow
Today on the IC-DISC Show, we're talking with John Warrillow, best selling author of books including Built To Sell and The Art of Selling Your Business, and founder of The Value Builder System™, a simple software for building the value of a company used by thousands of businesses worldwide.
This is a great conversation. I've know John for some time and have been looking forward to sharing his thinking and approach to building a business that can thrive without you.
There are a lot of ideas you can take action on in this episode. LINKS
Show Notes
Transcript
Be a Guest
GUEST
John Warrilow
About John
Special Guest: John Warrillow.
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Jul 9, 2020
Ep018: A Journey Helping Others with Sheila Enriquez
Today on the IC-DISC Show, we're talking with Sheila Enriquez, the managing partner of CPA firm Briggs and Veselka here in Houston.
This was a fantastic interview with a really amazing person. Sheila is the first guest I've had who was not born in the USA, and she really epitomizes the American dream and the opportunities available in this country. It's something some of us who are native-born can forget, and I certainly have to be careful not to take for granted the opportunities this country offers.
So this is a wide-ranging interview talking about the accounting profession, her background in the company as a managing partner, as well as some of her heartwarming, personal story. LINKS
Show Notes
Transcript
Be a Guest
GUEST
Sheila Enriquez
About Sheila
Special Guest: Sheila Enriquez.
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Apr 14, 2020
Ep017: The Opportunity with Dean Jackson
Today on the IC-DISC Show, I just wrapped up one of the most interesting interviews I've ever had on the podcast.
My guest was Dean Jackson, a real Renaissance entrepreneur who has some really incredible businesses and really great ideas.
His company's tagline is 'We help entrepreneurs make more money', and this was a great far-ranging conversation. Dean charges several thousand dollars for one on one consultations, and you can get his wisdom for free today.
We talked about some of the really transformative concepts he pioneered, and we also talked about why this Coronavirus shutdown could be the opportunity of a lifetime for a lot of people, but it is their attitude that will ultimately determine whether this was the best thing that could have happened or the worst thing.
This episode is full of some really interesting insights.
We didn't talk about IC-DISC at all, but it will be incredibly valuable for any entrepreneur or anyone in a role where they're responsible for generating…
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Mar 10, 2020
Ep016: Wealth With Purpose with Ali Nasser
Today on the IC-DISC Show, we're talking with Ali Nasser, who owns a unique, wealth management firm called AltruVista based in Houston, Texas.
AltruVista focuses almost exclusively on business owners and helps with the unique challenges business owners face.
They have a great process, and there is a lot of useful information in this episode about the common mistakes business owners make, and the different strategies you can implement to avoid these pitfalls.
I really enjoyed talking with Ali. They have a strong planning-based approach that's a real strength that comes across in the show.LINKS
Show Notes
Transcript
Be a Guest
GUEST
Ali Nasser
About Ali
Special Guest: Ali Nasser.
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Feb 26, 2020
Ep015: A Client's Perspective with Charlie Rowe
Today on the IC-DISC Show, we're talking with Charlie Rowe, a former client of ours, who sold their scrap yard four years ago.
I've wanted to get Charlie on the show for some time now because he has a really interesting perspective as someone who effectively used an IC-DISC, as well as being an actual client of ours.
Because he's now sold his business and is no longer an active client, he's open, transparent, and candid in the show about all the details of the DISC, his relationship with us, the terms of our agreement, and the various aspects of the DISC calculation. It's a very insightful and forthright perspective that he might not have felt as comfortable sharing if he had still owned his business.
In the show, we covered his history in the scrap world, the story of his business, his transition as he sold the business, and all of the lessons he learned using the IC-DISC.
He's also happy to field any questions about his experience from people considering using our service, or set…
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Feb 13, 2020
Ep014: A Fair Exchange with Bob Blades
Today on the IC-DISC Show, we're talking with Bob Blades, the president of Blades International, a foreign exchange consultancy based in Houston.
They have a great niche business in which they act as an advocate for their client to ensure the foreign exchange rates they pay are fair and reasonable.
I discovered during the call that it's just the nature of foreign exchange to have a lot of complexity, so they assist their clients in making sense of that complexity.
Bob has some great success stories from clients in a variety of different businesses. Although they have historically worked primarily with multi-national Fortune 500 clients, their service is now a viable option even for companies with under a million dollars a year of foreign exchange.
Their free analysis is a great way to see the indicative savings you could achieve, and they are a very knowledgeable and enthusiastic group of people to work with.
So, I learned a lot about foreign exchange myself. It was a really fun i…
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Jan 28, 2020
Ep013: Setting Up for Success with Neal Block and David Berek
Today we have a very special episode of the IC-DICS Show.
It's special because it's the first time we're speaking with a returning guest and it is the first time that we're talking with two guests. But the most important part is who those guests are.
Today we're talking with Neal Block and David Berek of Baker McKenzie. The release date of this episode (1/28/20) is also Neal's last day before he retires after 50 years with the firm; David is Neal's successor.
The show was a lot of fun. As you'll remember from Neal's last appearance, his experience gives him a wealth of insights. It was great to get both of their opinions on the different ways to structure an IC-DISC. Even during the show, I took many notes to that I could go back to our clients with new ways of structuring a second and third IC-DISC.
So there is a lot of really great information here for you, especially for closely-held family business that are trying to transfer inter-generational wealth as tax-efficiently as poss…
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Jan 14, 2020
Ep012: A People-First Business with Chris Hanslik
Today on the IC-DISC Show, we're talking with Chris Hanslik, the chairman of law firm Boyar Miller in Houston.
Boyar Miller has a really different approach to their law practice. They view themselves as entrepreneurs whose service just happens to be the law. This gives them an interesting perspective when serving entrepreneurial companies.
They spend a lot of time on culture, which is something I rarely hear from law firms, and in the show we talked about how, taking a page out of Southwest Airlines’ playbook, their focus is primarily on their employees, knowing that their employees will take great care of their clients.
All of this helps them create a practice that really supports businesses like ours, and it was interesting to hear Chris's perspective as we go into 2020. LINKS
Show Notes
Transcript
Be a Guest
GUEST
Chris Hanslik
About Chris
Special Guest: Chris Hanslik.
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Dec 19, 2019
Ep011: Building a Business with John Ryan
Today on the IC-DISC Show we're talking with Johnny Ryan, the former CEO of Alexander/Ryan Marine & safety.
Johnny was a longtime client of ours until he sold the company to a private equity firm about six years ago, and this was a great interview with a very successful, self-made entrepreneur who really came from nothing to build and sell a very successful company.
There are a lot of valuable insights in this episode, as well as some personal stories from Johnny's past. I hope you enjoy listening to this interview as much as I enjoyed recording it.LINKS
Show Notes
Transcript
Be a Guest
GUEST
John Ryan
About John
Special Guest: John Ryan.
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Dec 3, 2019
Ep010: Buying or Selling a Firm with Brannon Poe
Today on the IC-DISC Show we have a great interview with Brannon Poe, who's company, Poe Group Advisors, facilitates the sale and acquisition of accounting firms.
Brannon's thoughts will be of interest to a lot of business owners, but you'll find this particularly interesting if you're a CPA.
Poe Group Advisors has sold more than 300 CPA practices over the last decade, and this was a great opportunity to dive into some of the detail in these types of transactions. We had a chance to dispel a lot of the misconceptions around buying or selling a practice, and talk about the interesting point that all-cash offers are not only possible, but preferable, and are becoming more common in this economy.
If you've considered buying or selling a practice, or if you've ever wanted to leave your corporate accounting job to be self-employed, this really is a must-listen interview, and a tremendous opportunity to expand your boundaries to see what's possible.LINKS
Show Notes
Transcript
Be a Gues…
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Nov 19, 2019
Ep009: The IC-DISC Difference with Cory Jackson
Today on the IC-DISC Show we're talking with Cory Jackson, the president of CT Gasket, a company that makes high-end mission-critical gaskets and seals here in Houston, Texas.
Cory is the first client we've had on the show. His is a third-generation business. He's a tremendous entrepreneur, and over the 15 years we've worked with him, it's been great to see his incredible success first hand.
So this is a wide-ranging conversation. He shares some interesting thoughts on the benefits of an IC-DISC as a client, and even if you're not in the manufacturing business, there are a lot of lessons he's learned, that could be beneficial for your business. LINKS
Show Notes
Transcript
Be a Guest
GUEST
Cory Jackson
About Cory
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Oct 29, 2019
Ep008: Engineered Solutions with Julio Gonzalez
Today on the IC-DISC Show we're talking with Julio Gonzalez, CEO of Engineered Tax Services.
This was a great conversation discussing some of the tax incentives his company specializes in, and it's another example of how you can benefit by working with a company who understands you industry.
With so many specific tax codes, this specialist knowledge can save you many thousands of dollars.
We had a chance today to dive deep today into those tax incentives with an engineering component, and it was great to hear some of Julio's experience. LINKS
Show Notes
Transcript
Be a Guest
GUEST
Julio Gonzalez
About Julio
Special Guest: Julio Gonzalez.
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Oct 15, 2019
Ep007: Handling Tax Controversy with Brandon Frenza
Today on the IC-DISC Show we're talking with Brandon Frenza of the law firm Cantrell and Cantrell, based in Houston.
Brandon's a little younger than most of our guests, and he brings a more youthful perspective, but it's his interesting background that made me want to have him on the show as a guest.
He previously worked at the IRS, and his current role is for a law firm that specializes, amongst other tax issues, in handling tax controversy cases.
I really enjoyed the interview. He's an interesting guy and this was certainly an interesting conversation that will give you an insight into some of the more unusual IRS situation that can occur. LINKS
Show Notes
Transcript
Be a Guest
GUEST
Brandon Frenza
About Brandon
Special Guest: Brandon Frenza.
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Oct 1, 2019
Ep006: Increasing Your Bottom Line with Hans Stronck
Today on the IC-DISC Show we’re talking with Hans Stronck, from Expense Reduction Analysts.
I’ve known Hans for many years and really appreciate the help he’s provided to our clients in the past. I’m excited to be able to share his ideas with you because I know they really can help any company that has $5 million or more in revenue, regardless of whether you export.
Hans also created a guide www.ReducedExpenses.com that accompanies the points he talks about today, so if you don't have time to listen to the podcast, I encourage you to head over there and take a look at this great presentation with more detail on the savings strategies he’s suggesting.
I know you’ll get a lot from this episode.
Hans has helped dozens of our clients save millions of dollars and I'm a big fan of what they do. LINKS
Show Notes
Transcript
Be a Guest
GUEST
Hans Stronck
About Hans
Special Guest: Hans Stronck.
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Sep 17, 2019
Ep005: The IC-DISC Differentiator with Adam Traweek
Today on the IC-DISC Show I had a great conversation with Adam Traweek of Amegy bank in Houston, Texas.
As a banker, Adam's able to give us more of a lay person's perspective of the IC-DISC and how he uses it as a potential differentiator when talking to prospective clients.
We ended the conversation talking about the IC-DISC from a technical perspective and the different ways a bank can structure client loan documents and loan covenants to encompass an IC-DISC.
This was a wide-ranging interview, and I really enjoyed talking to Adam. I think you'll appreciate his bright, down to earth approach too. LINKS
Show Notes
Transcript
Be a Guest
GUEST
Adam Traweek
About Adam
Special Guest: Adam Traweek.
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Sep 4, 2019
Ep004: The First 50-Years with Neal Block
Today on the IC-DISC Show I am really excited to have the opportunity to interview Neal Block of Baker & McKenzie.
Neal is referred to as the godfather of the IC-DISC. He has been doing IC-DISC work since its inception in 1971, and he really has an amazing background having worked with clients since the start of the program.
His breadth of knowledge and experience is fascinating. He's always very engaging to talk to and has story after story to illustrate every example of his IC-DISC work over the last 50 years.
I hope you enjoy listening to this interview as much as I enjoyed recording it. It really is a 'must listen' episode. LINKS
Show Notes
Transcript
Be a Guest
GUEST
Neal Block
About Neal
Special Guest: Neal Block.
playlist_add
Aug 20, 2019
Ep003: Developing a Firm with John Flatowicz
Today on the IC-DISC Show we're talking with John Flatowicz, former managing partner of Briggs and Veselka, the largest independent CPA firm in Houston, Texas.
John has a great back story, and it was interesting to hear how he joined Briggs and Veselka to start the audit practice at the ripe old age of 26 years old, and about the philosophies he had back then, that he and the firm still have today.
Briggs and Veselka are a firm that grew from nine people in 1982 to over 300 people today, and there are a lot of great insights into developing a CPA firm, or really any other client service firm. LINKS
Show Notes
Transcript
Be a Guest
GUEST
John Flatowicz
About John
Special Guest: John Flatowicz.
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Aug 1, 2019
Ep002: Meril Markley
Today on the IC-DISC Show we’re talking with Meril Markley.
It’s a great conversation. Merrill has a unique perspective on tax law having previously work on the staff of Congressman Kevin Brady, who was subsequently chairman of the House Ways and means committee.
We also talked about the history of tax policy, and how it’s influenced the history of Western civilization in some surprising ways. In particular, the idea that the fall of the Roman empire was due in part, to the tax system at the time.
So I think you’re going to enjoy this great, wide ranging conversation with Meril. LINKS
Show Notes
Transcript
Be a Guest
GUEST
Meril Markley
About Meril
Special Guest: Meril Markley.
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Jul 30, 2019
Ep001: The IC-DISC Show
Welcome to the first episode of the IC-DISC Show.
I wanted to share this quick introduction with you and set the scene for the shows to come.
I'm very excited by this project, and can't wait to share the stories and insights of the fantastic guests we have lined up.
In the meantime. If you'd like to be a guest on the show, and share your story, head over to IC-DISCshow.com and follow the 'Be a Guest' link.
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