Straight Talk About Small Business Success

Unlocking the Power of Compensation Planning and Equitable Ownership for Multigenerational Businesses with Matthew DelPriore

Episode Summary

Matthew DelPriore is a financial expert who specializes in helping successful business owners and leaders align their current lives and careers with their desired future retirement. As a member of Fortis Lux, he works with clients to provide confidence and clarity about their financial futures. By focusing on long-term planning, he helps clients secure their lifestyles, financial strength, and overall security well beyond their working years. Matthew's expertise enables clients to navigate the unknown with ease and potentially grow their wealth even further. As a small business owner, do you struggle to attract and retain top talent? Are you curious about compensation and benefits planning strategies that can help your business thrive? Look no further than financial expert Matthew DelPriore, who shares his insights on the importance of different approaches to compensation planning based on a business's life cycle stages. From developing equitable compensation structures for active family members to creating deferred compensation plans for incoming employees, DelPriore provides practical solutions that prevent unintended consequences and position ideas for future growth. Join us in this episode to learn how to work on your business rather than just in it and create a culture of belonging that attracts and retains top talent.

Episode Notes

[00:01 - 06:19] Opening Segment

• Planning for compensation and perks is a common issue for business owners
• The stage of the business life cycle (starting, growth, mature, transferring/exit) affects strategies

[06:20 - 12:35] Equitable Ownership Structures for Multigenerational Businesses

• Active members can gradually accumulate more stock thanks to the ownership structure
• Collaboration and flexibility in shareholder agreements are essential for multigenerational businesses
• Without a solution, shareholder conflicts and hostility may develop

[12:36 - 18:34] Enhancing Business Value and Retaining Talent

• Planning ahead raises the worth of a firm
• Employees can cooperate toward a single goal by sharing the company's vision
• Team Building exercises promote culture and foster a sense of belonging

[18:35 - 21:34] Closing Segment

• Reach out to Matthew DelPriore!

Ready to transform the sales experience and close more deals? Connect with Matthew and join their program at fortislux.com

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Tweetable Quotes

 “It's always good to carve out some time during your week or month, to look at the business.” - Matthew DelPriore

“The more systems, processes that are in place, the more things that I know can run smoothly.” - Matthew DelPriore