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Revolutionizing B2B E-Commerce With Jason Magee
Manage episode 383609572 series 3484011
Content provided by Vincent Mastrovito. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Vincent Mastrovito or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Key Points From This Episode:
[00:02:25] Why digital transformation is vital for B2B businesses to align with customer expectations
[00:07:15] How Jason and his partner started Human Element after experiences in early e-commerce and tech startups
[00:09:20] Prioritizing sales channels and integration for a successful B2B digital transformation
[00:12:36] Why effective digital transformation requires a clear, budgeted plan over set periods
[00:13:37] B2B upgrade challenges include a lack of roadmap, resistance to change, and continuous iteration
18 episodes
Revolutionizing B2B E-Commerce With Jason Magee
Finishing Touches: How to Maximize Value and Strategize Your Business Transition
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Manage episode 383609572 series 3484011
Content provided by Vincent Mastrovito. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Vincent Mastrovito or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Key Points From This Episode:
[00:02:25] Why digital transformation is vital for B2B businesses to align with customer expectations
[00:07:15] How Jason and his partner started Human Element after experiences in early e-commerce and tech startups
[00:09:20] Prioritizing sales channels and integration for a successful B2B digital transformation
[00:12:36] Why effective digital transformation requires a clear, budgeted plan over set periods
[00:13:37] B2B upgrade challenges include a lack of roadmap, resistance to change, and continuous iteration
18 episodes
All episodes
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Finishing Touches: How to Maximize Value and Strategize Your Business Transition
This episode of Finishing Touches discusses organic growth strategies for scaling a business, covering topics such as market penetration, product and services expansion, customer retention, operational improvement, and talent development. Vincent Mastrovito provides insights on how to grow the value of an organization organically from the inside out, emphasizing the importance of understanding market penetration, product diversification, customer feedback, and operational efficiency. Takeaways: Understanding market penetration and expansion rates within the current market is crucial for organic growth. Product and services expansion, customer feedback, and operational efficiency are key factors in scaling a business organically. Talent development and organizational capacity play a vital role in supporting the growth of a business. Key Points From This Episode: 00:00 Strategies for Organic Business Growth 03:21 Maximizing Market Penetration and Expansion 05:11 Enhancing Product and Service Offerings 07:07 Customer Retention and Loyalty 08:31 Operational Efficiency and Process Improvement 10:21 Talent Development and Organizational Capacity Links: Prometis Partners Vincent Mastrovito on LinkedIn…
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Finishing Touches: How to Maximize Value and Strategize Your Business Transition
1 Preparing Emotionally for Your Business Exit 14:55
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Play Later Play Later Lists Like LikedThis episode of Finishing Touches explores the emotional aspects of selling a business and the impact it has on business owners. It delves into the personal, financial, and professional implications of selling a business, offering insights and guidance for navigating this challenging transition. Takeaways: Selling a business involves emotional, personal, financial, and professional considerations that require careful navigation. Business owners need to address their emotional attachment to the business and plan for a fulfilling post-sale life. Financial planning, maintaining professional relationships, and finding purpose after the sale are crucial aspects of preparing for a successful business exit. Key Points From This Episode: 00:00 Navigating the Emotional Aspects of Selling Your Business 03:07 Addressing Emotional Attachment and Identity 07:23 Financial Planning and Post-Sale Fulfillment Links: Prometis Partners Vincent Mastrovito on LinkedIn…
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Finishing Touches: How to Maximize Value and Strategize Your Business Transition
1 Safeguarding Your Business with Proper Legal Documents 12:43
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Play Later Play Later Lists Like LikedTakeaways: Planning is crucial for business owners looking to sell or transition their business. Legal documents should be created and regularly updated to protect the company and its stakeholders. Mistakes with stock and legal documents can lead to disputes and costly legal issues. Partnerships require clear agreements and contingency planning to avoid conflicts. Key Points From This Episode: 00:00 Importance of Legal Documents 01:01 Legal Documents in the Early Stages of a Business 03:24 Issues with Shareholder Agreements 04:22 Case Study: Valuation Dispute 05:46 Considerations for Partnerships 06:45 Challenges with Legal Documents 07:14 Protecting the Company in Shareholder Agreements 08:11 Contingency Planning in Legal Documents 09:10 Working with Attorneys and Regularly Reviewing Documents 09:37 Legal Documents for Business Growth and Transition Links: Prometis Partners Vincent Mastrovito on LinkedIn…
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Finishing Touches: How to Maximize Value and Strategize Your Business Transition
1 Financial Planning for Business Owners with Joe Seetoo 17:11
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Play Later Play Later Lists Like LikedTakeaways: Exit planning is crucial for business owners to ensure a successful transition and financial security. Business owners face challenges such as running personal expenses through the business and the need for tax and estate planning. Joe's new offering provides comprehensive financial planning and leverages a network of advisors to support business owners in their transition. Understanding personal expenses and considering alternative investments are key aspects of financial planning for business owners. Key Points From This Episode: 02:00 Joe's Passion for Exit Planning 05:00 Joe's New Offering for Business Owners 07:31 Challenges Faced by Business Owners 10:09 Alternative Investments for Business Owners 11:51 Receptivity of Business Owners to Comprehensive Planning 13:23 Challenges in Understanding Personal Expenses 15:03 The Value of Joe's Approach to Portfolio Management 17:47 The Importance of Net Value for Business Owners Links: Morton Wealth Joe Seetoo on LinkedIn Morton Wealth on LinkedIn Morton Wealth on Instagram Prometis Partners Vincent Mastrovito on LinkedIn…
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Finishing Touches: How to Maximize Value and Strategize Your Business Transition
1 Strategies for a Successful Management Buy-Out 14:49
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Play Later Play Later Lists Like LikedTakeaways: Management buyouts (MBOs) can be a powerful approach to business transition. Considerations for a successful MBO include cash flow analysis, funding options, and conversations with the management team. Strategic planning, team alignment, and effective communication are crucial for a smooth MBO process. Contingency plans, due diligence, and post-MBO integration should be carefully considered. Bringing in outside leadership may be necessary for a successful MBO. Key Points From This Episode: 00:00 Introduction to Management Buyouts 02:24 Considerations for a Management Buyout 04:18 Conversations with the Management Team 06:12 Strategic Planning and Team Alignment 07:38 Communication and Due Diligence 09:34 Contingency Plans and Post-MBO Integration 11:00 Agreeing on Price and Financing 13:19 Initial Steps and Potential Buyers 14:43 Considerations for Bringing in Outside Leadership Links: Vincent Mastrovito on LinkedIn Prometis Partners…
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Finishing Touches: How to Maximize Value and Strategize Your Business Transition
1 Breaking Owner Dependency: Building a Business Beyond You 15:46
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Play Later Play Later Lists Like LikedTakeaways: Understanding and mitigating owner dependency is crucial for a seamless business transition. Ten key categories to focus on when de-risking the owner include decision making, training, roles and responsibilities, processes and procedures, operational management, knowledge management, customer relations, quality management, strategic planning, and succession planning. Reducing owner dependency minimizes disruption, retains value between owners, and makes the transition smoother for new leadership. Taking small steps to delegate tasks and empower employees can help reduce owner dependency and free up time for business owners. Investing in transferable value increases the value of a business and prepares it for an eventual transition. Empowering business owners through de-risking and reducing owner dependency allows them to focus on the growth and success of their business. Key Points From This Episode: 01:25 Owner Dependency: Key Categories 06:18 Transferable Value: Assets and Processes 08:39 Significance of Transferable Value 10:29 Benefits of De-risking the Owner 12:55 Investing in Transferable Value 14:20 Taking Small Steps to Reduce Owner Dependency 15:20 Empowering Business Owners Links: Vincent Mastrovito on LinkedIn Prometis Partners…
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Finishing Touches: How to Maximize Value and Strategize Your Business Transition
1 Intergenerational Wealth & Family Business with Dr. Tom Deans 17:57
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Play Later Play Later Lists Like LikedTakeaways: Selling the business to the next generation ensures that the children are truly capable and committed to running the business. The Willing Wisdom Index is a digital tool that helps business owners assess the gaps in their succession and estate plans. Preparation and mentoring of the next generation are crucial for a successful business transition. Bringing in outside leadership can provide expertise and neutrality in managing the business. Key Points From This Episode: 03:08 Shift in Perspective on Family Business Succession 07:33 The Willing Wisdom Index 08:44 Selling the Business to the Next Generation 10:29 Preparation of the Next Generation 12:32 Bringing in Outside Leadership 14:16 Challenges with Non-Family Members in the Business…
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Finishing Touches: How to Maximize Value and Strategize Your Business Transition
1 The Art of Hiring an Exceptional Number Two Leader with Alec Broadfoot 19:46
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Play Later Play Later Lists Like LikedKey Points From This Episode: [00:01:11] Alec Broadfoot's recognition in the 2023 Inc 5,000 list for leading one of the fastest-growing companies [00:03:37] The inception of VisionSpark [00:07:27] The primary market served by VisionSpark [00:11:25] The rarity of innate leadership skills [00:14:52] The high success rate of VisionSpark in matching leaders to organizations [00:17:55] The value of 'A players' in an organization and the return on investment they bring Links: Alec Broadfoot on LinkedIn VisionSpark Vincent Mastrovito on LinkedIn Prometis Partners…
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Finishing Touches: How to Maximize Value and Strategize Your Business Transition
1 Mastering M&A: A Dive into the Buy Side with Michelle Kime 24:35
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Play Later Play Later Lists Like LikedKey Points From This Episode: [00:02:54] How Michelle discovered Irish dancing at 28, fell in love, and excelled [00:04:10] The distinction between buy-side and sell-side representation in M&A [00:07:52] The importance of early conversations with prospective buyers [00:11:19] Challenges in M&A, including buyer retrading and communication strategies [00:17:24] Reasons for discounts in M&A deals, including customer concentration and key person risk Links: Michelle Kime on LinkedIn Cross Key Partners Vincent Mastrovito on LinkedIn Prometis Partners…
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Finishing Touches: How to Maximize Value and Strategize Your Business Transition
1 The Power of Organizational Culture with David Friedman 21:51
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Play Later Play Later Lists Like LikedKey Points From This Episode: [00:02:39] Why people, not companies themselves, drive organizational progress and success [00:05:20] How organizational culture directly influences company performance and valuation [00:11:46] Why effective leadership is crucial for shaping and influencing a company's culture [00:15:26] Seeing culture as a systematic business process is necessary for leaders to improve it [00:17:03] The rise of remote work challenges the maintenance and building of organizational culture Links: David J. Friedman CultureWise David Friedman on LinkedIn Vincent Mastrovito on LinkedIn Prometis Partners…
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Finishing Touches: How to Maximize Value and Strategize Your Business Transition
1 Revolutionizing B2B E-Commerce With Jason Magee 19:15
19:15 Play Later Play Later Lists Like Liked19:15
Play Later Play Later Lists Like LikedKey Points From This Episode: [00:02:25] Why digital transformation is vital for B2B businesses to align with customer expectations [00:07:15] How Jason and his partner started Human Element after experiences in early e-commerce and tech startups [00:09:20] Prioritizing sales channels and integration for a successful B2B digital transformation [00:12:36] Why effective digital transformation requires a clear, budgeted plan over set periods [00:13:37] B2B upgrade challenges include a lack of roadmap, resistance to change, and continuous iteration Links: Human Element Jason Magee on LinkedIn Vincent Mastrovito on LinkedIn Prometis Partners…
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Finishing Touches: How to Maximize Value and Strategize Your Business Transition
1 Strategic Capacity: Do You Have It in Your Business? With George Sandmann 21:12
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Play Later Play Later Lists Like LikedKey Points From This Episode: [00:02:47] George discusses his book, revealing a three-dimensional approach to business growth and its transformative power for CEOs [00:05:41] The rarity of high-value business transfers and the importance of early exit planning [00:08:47] How Growth Drive's approach serves three types of business owners: those looking to grow, simplify, or sell their businesses [00:12:18] Supporting business advisors through knowledge, tools, and a robust community, aiming for immediate, impactful results [00:16:18] The mutual benefits of advisor-owner relationships Links: George Sandmann on LinkedIn George Sandmann Growth-Drive Vincent Mastrovito on LinkedIn Prometis Partners…
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Finishing Touches: How to Maximize Value and Strategize Your Business Transition
1 Safety Matters, with Jim Mattes of ThreeSixtySafety 19:58
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Play Later Play Later Lists Like LikedKey Points From This Episode: [00:02:28] Creating a comprehensive safety program with zone leaders, employee engagement, and OSHA compliance [00:08:01] Conducting mock OSHA audits for proactive safety compliance, offering detailed reports with action recommendations. [00:13:22] How improving safety boosts profit by reducing workers' comp and indirect injury costs [00:015:12] Why assessing safety and equipment conditions is crucial for small businesses and acquisitions [00:16:26] Ensuring thorough inspections through certified experts and monthly knowledge-sharing sessions Links: Jim Mattes on LinkedIn ThreeSixtySafety Vincent Mastrovito on LinkedIn Prometis Partners…
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Finishing Touches: How to Maximize Value and Strategize Your Business Transition
1 Sales Success Secrets: Unleashing the Potential of Your Sales Team with Mark Fisher 20:41
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Play Later Play Later Lists Like LikedMark Fisher joins the podcast to delve into the challenges faced by sales organizations and strategies for success. With over 30 years of sales experience, Mark has a proven track record of turning around struggling sales teams and enhancing the bottom line. This episode is a must-listen for business owners and sales professionals who are looking to enhance their sales strategies, improve their communication within the sales organization, and leverage data and analytics to make informed business decisions. Mark's knowledge and experience in sales management will inspire listeners to think outside the box and implement effective strategies to drive revenue growth. For a deeper dive into the strategies discussed in this episode and more, visit https://www.prometispartners.com/. There you will find a comprehensive assessment for business owners to evaluate their strategic capacity. This assessment helps identify strengths and weaknesses within the company, offering insights into value range and financial planning for future transitions. Reach out for a personalized consultation and take the first step toward building a strong leadership team. If you enjoy the show, please subscribe and share it with someone you think might also find it beneficial. Thanks so much for listening!…
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Finishing Touches: How to Maximize Value and Strategize Your Business Transition
1 Unlocking the Power of Leadership: Building a Strong Team for Business Success 16:20
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Play Later Play Later Lists Like LikedIn this episode of Finishing Touches, I dive deep into the topic of leadership and its impact on business success. As a business owner, understanding the importance of effective leadership is crucial for growth and sustainability. I discuss key strategies for forming a strong leadership team, and the positive outcomes it can bring. To learn more about the strategies discussed in this episode, visit https://www.prometispartners.com/. There you will find a comprehensive assessment for business owners to evaluate their strategic capacity. This assessment helps identify strengths and weaknesses within the company, offering insights into value range and financial planning for future transitions. Reach out for a personalized consultation and take the first step toward building a strong leadership team.…
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Finishing Touches: How to Maximize Value and Strategize Your Business Transition
1 Scaling Beyond the Owner: Transforming Your Business for Long-Term Success 18:04
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Play Later Play Later Lists Like LikedDo you want to streamline your business and increase its productivity? Are you tired of feeling like your business relies too heavily on your presence and decision-making? In this podcast episode, I will unveil the key solution that can help you reduce owner dependency and achieve a more efficient and self-sustaining business. By implementing the strategies and insights shared in this episode, you can experience a significant boost in your business's autonomy and effectiveness. Say goodbye to the days of being the bottleneck and hello to a business that can thrive even without your constant involvement. Tune in to discover the secret to unlocking a more self-reliant and successful business. I’m grateful you’re here, and I look forward to guiding you toward securing your legacy and transitioning smoothly through this podcast. If you enjoy the show, please subscribe and share it with someone you think might also find it beneficial. Thanks so much for listening! More Info/Website: https://www.prometispartners.com/…
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Finishing Touches: How to Maximize Value and Strategize Your Business Transition
Have you heard the myths about exit planning? Business owners looking to monetize their value in the enterprise long term may have come across these misconceptions that can hinder a smooth and fluid transition. Myth #1: Exit planning is only necessary for retirement age business owners. Myth #2: Selling the business to a family member is the easiest option. Myth #3: Exit planning is a one-time event. But the truth is, successful exit planning requires a strategic and ongoing process that involves various essential components. I'll reveal these components and how they can lead to a successful exit in the long run. I’m grateful you’re here, and I look forward to guiding you toward securing your legacy and transitioning smoothly through this podcast. If you enjoy the show, please subscribe and share it with someone you think might also find it beneficial. Thanks so much for listening! More info and episodes: https://www.prometispartners.com/…
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Finishing Touches: How to Maximize Value and Strategize Your Business Transition
1 Mastering Business Transition: Insider Tips for Success 3:12
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Play Later Play Later Lists Like LikedAs a seasoned exit planning guide, with this new podcast I will explore the challenging yet crucial process of preparing for business transition. Each episode will outline actionable tips and bring insights from my years of experience along with expert guests to help business owners navigate the largest transaction of their life. I’m grateful you’re here, and I look forward to guiding you toward securing your legacy and transitioning smoothly through this podcast. If you enjoy the show, please subscribe and share it with someone you think might also find it beneficial. Thanks so much for listening! Website: https://www.prometispartners.com/…
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