Often times, preparation and thorough planning is seen as the safeguard to a successful business. However, there comes a point where the plan can become stale and out-of-date. Many business owners and entrepreneurs may want to update their business plan but don't know what to look for in terms of weak points. That's where Homer comes in with this episode of Advance Your Wealth.

Join us today to learn how to stress test your business plan and better prepare for the unknown future.

Chapters:

0:00 - Introduction and overview on the topic of the day

1:40 - Homer Smith on Stress Testing

2:50 - What Does a Good Stress Test Look Like

4:40 - Who is Qualified for Stress Testing

6:30 - Areas to Focus on in Your Planning Check-up

10:05 - Selling Your Business and Exit Planning

17:05 - When to Go Through a Stress Testing Process

19:10 - Getting the Outcome That You Want

19:45 - How to connect with Homer Smith

20:00 - Closing remarks

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In a world often dominated by limitations and barriers, it's time to shift our focus towards what's possible. Join us in this illuminating episode as we delve into the realm of possibility with our esteemed guest, Chris Smith, Founder of The PSBLTY Co. Chris brings a wealth of experience working with successful entrepreneurs and business owners, helping them navigate through challenges and unlock the full potential of their lives.

In this conversation, we'll explore why it's crucial to prioritize possibility over limitations and how this mindset can revolutionize our approach to life and business. From reframing setbacks as opportunities to embracing uncertainty with open arms, Chris shares invaluable insights and strategies to inspire listeners to dream bigger and reach higher.

Chapters:

0:00 - Introduction and overview on the topic of the day

1:23 - Homer working closely with Chris and his team over the years

3:18 - Possibility versus limitation

6:50 - Over-focusing on what's not working in your life and business

10:49 - "I don't matter. I'm not enough. I'm not worthy."

15:09 - A story from Chris helping to coach a high school basketball team

18:39 - Recognizing the importance of positive reinforcement and speaking possibility into people

24:35 - You matter, you're worthy, and you belong!

27:24 - How to connect with Chris Smith online

27:53 - Closing remarks

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If you’re an entrepreneur, do you know what your business is really worth? It turns out, you might be surprised to discover its true value.

On the latest episode of Advance Your Wealth, we examine the importance of valuing a business, why it makes sense (even if you’re not planning to sell), and how you might set out to get a proper valuation done.

Chapters:

0:00 - Introduction and overview on the topic of the day

1:30 - Very few business owners are ultimately satisfied following the sale of their business

4:40 - Entrepreneurs should be aware of their business' value over the course of time

6:06 - Business owners are often surprised by the results of a true valuation process

8:36 - Advice for getting this process started

11:10 - The key issues that arise when a business valuation process is conducted

15:41 - What business owners should be considering today

17:39 - Business owners need to take time to work on the business, rather than in the business

19:03 - How to get in touch with Homer and his team

21:09 - Closing remarks

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In this illuminating episode, we delve into the fascinating realm of human longevity with our esteemed guest, David Karow, President & CIO of Human Longevity, Inc. As our lifespans extend, we are faced with profound questions about how to optimize both our health and our financial well-being.

Join us as we explore the latest advancements in longevity science and how they are reshaping our understanding of aging. From cutting-edge genetic research to innovative health interventions, we uncover the keys to living longer, healthier lives.

But longevity isn't just about adding years to our lives—it's also about ensuring those years are filled with vitality and quality. We discuss the importance of proactive health management, personalized medicine, and preventive strategies to ward off age-related diseases and maximize wellness in our later years.

Chapters:

0:00 - Introduction and overview on the topic of the day

1:39 - Conversations surrounding human longevity are becoming more popular

3:24 - Welcoming David to the show and an overview on longevity planning

7:15 - The benefits of taking a more proactive approach to your health

10:53 - Leveraging data to make very informed health and wealth decisions

15:38 - Longevity planning goes way beyond pills and treatment procedures

18:22 - Areas where we need to improve our current health care system

21:23 - How to get in touch with David and his team at Human Longevity, Inc.

23:25 - Closing remarks

Connect with Homer Smith:

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How confident are you about what will happen to your assets—and your loved ones—after you’re gone?

On the latest installment of Advance Your Wealth, we’re looking at a truly important topic: your estate plan and whether it’s set up to get the results you want. In particular, we’ll be focusing on three main components of an estate plan that can potentially position most families for success.

Chapters:

0:00 - Introduction and overview on the topic of the day

1:37 - Why this topic is becoming so important among investors and families

3:05 - The delicacy involved in estate planning efforts

4:24 - The three key areas of estate planning

5:23 - What makes a will a foundational piece of estate planning

6:51 - Navigating trusts and how they can impact a family's estate planning

9:52 - How to decide if a trust makes the most sense for you and your family

12:36 - The fiduciary you choose to work with on your estate plan

15:37 - Your estate plan can get out-of-date rather quickly

17:20 - How to get in touch with Homer and his team

19:20 - Closing remarks

Connect with Homer Smith:

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When it comes to building, preserving and transferring wealth, it’s natural to look to the wealthiest among us for insights and actions we might adopt in our own efforts.

On the latest installment of Advance Your Wealth, we’re examining five personal finance lessons from the so-called Super Rich, those with a net worth of at least $500 million. The steps they take, and don’t take, may prove illuminating as you journey down the path toward your most important financial goals.

Chapters:

0:00 - Introduction and overview on the topic of the day

1:29 - Homer's big-picture takeaway on how the Super Rich build their wealth

2:50 - Working with the best experts you can find

4:24 - How to identify top-tier professionals to work with

6:05 - Going beyond the numbers

7:58 - Recognizing the importance of negotiation

9:37 - Trust, but verify

11:17 - The importance of keeping your emotions in check

12:28 - Tips for staying logical during emotionally tough circumstances

13:54 - How to get in touch with Homer and his team

14:48 - Closing remarks

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If you’re an entrepreneur, the idea of selling your business may have crossed your mind more than once. If you ultimately decide to sell your business, you’ll likely encounter two main types of buyers: financial and strategic. It’s a good idea to consider which type of buyer is the right one for you and your company.

On the latest episode of Advance Your Wealth, we’re exploring how these two categories of buyers could play an important part in how much you get for your company

Chapters:

0:00 - Introduction and overview on today's topic

1:18 - Understanding your options as a business owner

2:07 - An overview on financial buyers

3:12 - How the seller fits into the financial buyer's vision for the company

4:16 - How entrepreneurs typically encounter financial buyers

6:02 - The differences between a financial buyer and a strategic buyer

7:11 - How strategic buyers approach the buying process

9:24 - The different types of strategic buyers

10:31 - How to decide which type of buyer makes the most sense for your company

13:08 - Why would a strategic buyer make sense for you and your business?

15:21 - How to get in touch with Homer and his team for more information

16:40 - Closing remarks

Connect with Homer Smith:

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Life is full of transitions. Plain and simple.

However, one of the biggest transitions a business owner can make in their lifetime is the transition out of their business. In many instances, they've worked decades to build up this business and there are a variety of personal, financial, and emotional considerations at play.

In the latest episode of Advance Your Wealth, Homer explores the key decisions a business owner is faced with during this major milestone in their life.

Chapters:

0:00 - Introduction and overview on the topic of the day

1:01 - The major events in a business owner's life

3:55 - Transitioning to sell the business internally or externally

5:56 - I've sold my business. Now what?

8:57 - Transitioning family wealth to your heirs in a positive and strategic manner

12:17 - How to get in touch with Homer to discuss this topic individually

14:30 - Closing remarks

Connect with Homer Smith:

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