CATEGORIES: Business, Franchising
CATEGORIES: Business, Franchising
Ever wondered what it's like to be wealthy? If you have more money than you can spend, how would you spend your days? How would you make investment decisions? If you're interested in knowing what ultra-high-net-worth families do compared to other families, that's one thing Erik and Greg Smith discuss in today's episode.
They also talk about economic cycles, knowing your local market and the macroeconomy, leverage, buy and sell side due diligence, wealth accumulation, wealth preservation, and many more topics valuable to franchisees, franchisors, and franchise buyers. Take advantage of these exclusive insights!
Greg Smith has 50 years of business experience with a history of representing ultra-high-net-worth families with business acquisitions and executive management of these businesses. His background includes commercial banking, aviation, chemicals, automobile finance, insurance, and real estate. Greg also has a lot of experience with federal regulators in highly regulated industries. For the past 12 years, Greg has worked across sectors as Investment Banker managing capital raising, sell-side and buy-side transactions. He is the author of the book “No Locked Doors!: Master the Keys to Transform Problems into Possibilities.”
“It's being an informed investor and doing your due diligence upfront and knowing where you are in the economic cycle that can make or break a deal.” - Greg Smith
In This Episode:
- How do you define an ultra-high-net-worth family?
- What ultra-high-net-worth families do compared to other high-net-worth families
- With the advancement of technology and digital marketing strategies, does Greg see the revival of old sales techniques like giving out coupons?
- Greg talks about working the different economic cycles, witnessing crisis after crisis, and the lessons he learned from the experience
- The importance of managing due diligence before investing (buy side and sell side)
- How do you take learnings from bad deals to your next transaction?
- What does it mean to invest vertically and horizontally across industries?
- How does an ultra-high-net-worth family with a management company running their businesses spend their days? What keeps them up at night? What are their priorities?
- How do you bring in talent, especially C-suite executives, for an industry in which you're not an expert? How much weight do you put on third-party evaluation?
- What's the story behind Greg's book “No Locked Doors!”?
- Learn more about Erik’s franchisee mastermind here - www.franchisetribe.com
- Learn more about Erik’s franchisor mastermind here - www.franchisortribe.com
- Learn more about Erik’s passive investing mastermind here - www.tribeofinvestors.com
- Want to buy a franchise? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617
- Want to franchise your business? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617
- No Locked Doors!: Master the Keys to Transform Problems into Possibilities by Greg Smith - https://www.amazon.com/No-Locked-Doors-Transform-Possibilities/dp/154454264X
- Franchise Secrets: How To Optimize Your Business With Off-Shore Hiring w/ Kasim Aslam - https://youtu.be/kjyO5rF8uAI
Connect with Greg Smith:
- LinkedIn - https://www.linkedin.com/in/gregory1/
Connect with Erik Van Horn:
Erik Van Horn is a franchising specialist, and expert in multi-unit, semi-absentee franchise business ownership. From entrepreneur to regional developer, and investor to consultant, Erik has worn many hats over the last two decades, which has provided him unique insight into complex aspects of the industry. If you're a franchisee, a franchisor, or one aspiring to be, subscribe to the Franchise Secrets channel and visit www.FranchiseSecrets.com for even more tactical and practical tools to help you buy, grow, and sell franchises like an expert.