{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Ep 305 Mid 8-Figure Exit Lessons: How to Avoid Millions in Taxes and Regret After the Sale with Nathan Collins","description":"Mid 8-Figure Exit Lessons: How to Avoid Millions in Taxes and Regret After the Sale with Nathan Collins   Find Rocky Lalvani @ www.ProfitComesFirst.com or email him at rocky@profitcomesfirst.com   Most business owners think the hardest part of selling a business is the deal. But the real danger often shows up after the sale: the taxes you didn\u2019t plan for and the identity shift you didn\u2019t expect In this episode of Profit Answer Man, Rocky Lalvani sits down with Nathan Collins, a former CEO who sold his business for a mid-eight-figure exit\u2014and then realized he wasn\u2019t personally prepared for what came next. Nathan shares what he wishes he\u2019d done differently, how business owners should think about diversifying outside the business, and why \u201cexit readiness\u201d is about far more than financials.    In This Episode, You\u2019ll Learn: Why many business owners hesitate to take money out of the business and invest elsewhere\u2014and how that lack of diversification increases risk.  The difference between preparing your business for sale vs preparing your life for the exit.  The common \u201ccheap\u201d mistake founders make that can cost millions in avoidable taxes.  Why your CPA and financial advisor often don\u2019t proactively plan together\u2014and how that gap hurts business owners.  What happens emotionally the day after the sale (and why so many owners feel lost even after a big win).  The \u201climinal phase\u201d after an exit\u2014and how to prepare for it with purpose, community, and health.  How systems like EOS\/Traction and having the right people in the right seats can make your company stronger\u2014and more sellable.  Why many exits are forced (not planned) and why \u201cexit-ready\u201d equals resilience.    The Big Takeaway: A profitable exit is not the finish line. If your identity, purpose, and community are built entirely around your company, selling can create a void\u2014fast. And if you haven\u2019t done personal tax planning ahead of time, the IRS can take a bigger share than necessary. Exit planning is not just about maximizing the sale price. It\u2019s about being ready financially and personally\u2014so you can enjoy the outcome you worked so hard to create.    Bio:  Nathan Collins is a wealth manager at Raymond James and a former CEO who sold his business through a successful middle-market process. He now helps business owners optimize business value, plan for liquidity events, and avoid the costly personal and financial mistakes that often happen around exits.    Links: Website: https:\/\/www.raymondjames.com\/founderwealthstrategies\/ LinkedIn https:\/\/www.linkedin.com\/in\/nate-collins\/ Exit Planning Workshop Webinar: https:\/\/www.raymondjames.com\/founderwealthstrategies\/events nate.collins@raymondjames.com   Conclusion: Whether you plan to sell in 3 years or 30 years, the best time to prepare is now. Build a business that can run without you, diversify so you\u2019re not financially trapped in one asset, and make sure you\u2019re building a life you actually want to \u201cretire into.\u201d   #ProfitAnswerMan #ProfitFirst #BusinessProfit #CashFlow #BusinessOwners #ExitPlanning #TaxPlanning #WealthManagement #EOS #Traction   Watch the full episode on YouTube: https:\/\/www.youtube.com\/@profitanswerman Source Sign up to be notified when the next cohort of the Profit First Experience Course is available! Free Copy of the Profit Blueprint Book:  Monthly Newsletter signup:  Relay Bank (affiliate link):  Profit Answer Man Facebook group:  My podcast about living a richer more meaningful life: http:\/\/richersoul.com\/ Source Music provided by Junan from Junan Podcast.  Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.  ","author_name":"Profit Answer Man: Scaling with Profit First & Beyond","author_url":"http:\/\/profitanswerman.libsyn.com\/website","html":"