As more baby boomer business owners reach the age of selling and many entrepreneurs recover from pandemic setbacks, the urgency to execute business transactions has never been greater. However, only a small percentage of owners achieve a truly successful exit.

In this episode of Advance Your Wealth, we explore the three critical factors that determine whether a sale will meet expectations: Is the Business Ready? Is the Market Ready? Is the Owner Ready?

Homer delves into financial readiness, market conditions, and the often-overlooked mental and emotional preparation required to transition smoothly. If you’re a business owner contemplating an exit, this episode is packed with actionable insights to help you optimize your strategy and secure the best outcome.

In the latest episode of Advance Your Wealth, Homer Smith explores the complexities of using an earn-out when selling a business. He breaks down how this strategy works, the key benefits—such as maximizing sale value and easing the transition for both buyer and seller—as well as the potential risks, including delayed payments and unforeseen challenges.

Whether you're a business owner preparing for an exit or simply looking to better understand this financial tool, Homer provides expert insights to help you make an informed decision. Tune in for a deep dive into the pros and cons of earn-outs and how they might fit into your business transition strategy.

Chapters:

0:00 - Introduction

1:30 - What is an Earn-Out?

4:58 - Is an Earn-Out a good fit for you and your business?

11:22 - The level of complexity with Earn-Outs

14:01 - Key takeaways

17:05 - Closing remarks

In the latest episode of Advance Your Wealth, we explore how tax-aware investment strategies can enhance your long-term wealth planning. While we've previously covered preparing for a business exit and transitioning wealth to heirs and charitable causes, today’s focus is on Private Placement Life Insurance (PPLI)—a powerful tool long utilized by billionaire families and Single Family Offices to mitigate taxes on investment portfolios.

The exciting news? Thanks to advancements in technology and expert guidance, PPLI is now more accessible than ever. Join Homer as he breaks down how this strategy works and how it could be a valuable addition to your financial plan.

Chapters:

0:00 - Introduction

1:49 - What is Private Placement Life Insurance?

6:55 - The industry issues surrounding life insurance

12:22 - The disadvantages of PPLI

19:54 - How to get in touch with Homer's team

22:18 - Closing remarks