Henry Daas On How To Move The Dial On Financial Success (#120)

[00:00:00] Jeffrey Feldberg: Welcome to the Sell My Business Podcast. I'm your host Jeffrey Feldberg.

This podcast is brought to you by Deep Wealth and the 90-day Deep Wealth Experience.

Your liquidity event is the largest and most important financial transaction of your life.

But unfortunately, up to 90% of liquidity events fail. Think about all that time, money and effort wasted. Of the "successful" liquidity events, most business owners leave anywhere from 50% to over 100% of their deal value in the buyer's pocket and don't even know it.

I should know. I said no to a seven-figure offer and yes, to mastering the art and science of a liquidity event. Two years later, I said yes to a different buyer with a 9-figure offer.

Are you thinking about an exit or liquidity event?

If you believe that you either don't have the time or you'll prepare closer to your liquidity event, think again.

Don't become a statistic and make the fatal mistake of believing that the skills that built your business are the same ones for your liquidity event.

After all, how can you master something you've never done before?

Let the 90-day Deep Wealth Experience and our nine-step roadmap of preparation help you capture the maximum value for your liquidity event.

At the end of this episode, take a moment to hear from business owners, just like you, who went through the Deep Wealth Experience.

Henry Daas is a serial entrepreneur, business coach, screenwriter, and self-described ordinary guy, and now a personal financial coach. Born in Brooklyn at the tail end of the Eisenhower years, Henry has lived his entire life in and around New York City. Henry who's focused his life around money from cutting lawns as a kid to managing a stock portfolio as an adult and everything else in between.

 Henry built his consulting business DaasKnowledge to help provide professional coaching for entrepreneurs and business owners of companies with top-line sales under $10 million. His debut book FQ: Financial Intelligence is the combination of his six decades of financial knowledge and experience.

Welcome to The Sell My Business Podcast. And for all you business owners out there, let me ask you a question because I know, it's not how much money you earn and even in your liquidity event, it's not how much money you actually get. It's number one, how much money you keep, but then what do you do with that money when all is said and done. And we've heard all too many horror stories of what can happen when you're not prepared and things just go off the rails.

Well, that's not going to happen after today's episode because our guests a very special guest is going to walk us through proven strategies to help you not only capture the future that you want but enjoyed along the way. So with that said, Henry, welcome to The Sell My Business Podcast. It's such a delight and pleasure to have you with us today.

I always like to ask the question at the start of things and my question for you as we kick things off is this, there's always a story behind the story, Henry, what's your story?

[00:03:31] Henry Daas: Well, first of all, thanks for having me here, Jeffrey. It's a pleasure. I love doing podcasts, love talking to interesting hosts. So what's the story behind the stories. Wow. There's an enormous amount to unpack there. Let me hit some of the grace notes. So I'm a 30-year serial entrepreneur.

I am currently in business coach, and entrepreneurial coach. So I try to impart my wisdom to people who are doing what I was doing 30 years ago. In addition to that I'm an investor, I trade stocks. I just recently became a licensed real estate salesperson here in the State of Connecticut. So I've been involved in money, pretty much from childhood.

I wrote a book a couple of years ago called FQ: Financial Intelligence, and I sell a 20-week course where I teach you everything that I wrote in the book. I also do ala carte coaching for people in terms of upping their financial game. So we do a lot of stuff. So I don't know if that's a story behind the story, but that's the 30,000-foot view of what it is that I do.

[00:04:32] Jeffrey Feldberg: Henry you're certainly are juggling a lot of things. But what I like about that is you've been in the seat and you are in the seat of where all of us are here in the Deep Wealth community. And it really takes one to know one. So it's always terrific to speak to a fellow business owner because we're going to speak from the trenches.

Let me ask you this. It's always terrific to talk about success stories and the stuff that legends are made of and we'll get there. But also I found along the way it's as important knowing what not to do in other words, learning from failure, and oftentimes failure can be more of an in-depth teacher than success can be.

So with that in mind, Henry what do you see as some common traits or patterns out there with business owners and money that just put them on the wrong road, leading to disaster.

[00:05:24] Henry Daas: Well, you know, It was funny your intro immediately reminded me of a conversation that I had many years ago, probably going back maybe 15 years. And I was at a conference up at MIT, actually of all places with a whole bunch of other entrepreneurs, business owners. And this is back when I was involved with a group called EO, Entrepreneurs Organization.

People may be familiar with that pretty big multinational organization. And so this was an EO summit. And one of the speakers I'll give you his first name. Her name was Jimmy. I don't want to basically say his full name, but anyway, he was a successful entrepreneur who had exited his business for tens of millions of dollars.

And I had lunch with him, two of us just sitting around and I asked him what his story was. And it was very interesting and it was really illustrative of there's probably some wisdom in here for people. So he had a successful business. He was self-described as a big fish in a little pond.

He had this very successful company that employed a lot of people in a Rocky Mountain town. And he was, as you might say a big macher, the others word for big shot. And he sold his business and he got all of this money and he said within a year he was divorced and I said there are talking about the story behind the story.

So what's that all about? He goes, here's the thing that I did not anticipate when this happened. My wife, my life partner really enjoyed the status that we had in the community there, because we employed a lot of people and we were invited to a ton of stuff. And after I had this liquidity event, yeah.

I was just another guy with a big pile of money and I was home and I was tripping over the vacuum cleaner. And one thing led to another and within 12 months, I'm not even living in my home anymore. And that money that I made while I had to give a big old chunk of that to my wife because let's face it she was my partner in all this. So, I was dumbfounded by that. I really applauded his candor, but it was like, wow. Do people really think about that? I mean, You would say the day he cashed those checks, he probably thought he died and went to heaven. I've got generational wealth. I never have to work again.

He's probably 50 at the time and everything was rosy. And then it just fell off a cliff because he didn't look down the line to say hey, what is this going to pretend for me personally, for me and my family. Anyway, I'll stop there.

[00:07:41] Jeffrey Feldberg: But you know what Henry you bring up such an excellent point and look here at Deep Wealth. I know I'm preaching to the choir. It's all about preparation. So what could he have done differently from your viewpoint? What should have happened?

[00:07:53] Henry Daas: I think he should have brought his wife into the fold a lot earlier. Cause I got the impression that he would unilaterally making this decision and that's fine. It probably was the right decision by his estimation because of what was going on within the particular spaces he was in. I had a friend of mine who was one of actually my forum buddies, even though most of us are not in EO anymore. I'm almost 63 years old, so we're no longer young entrepreneurs, but a friend of mine, he was in the managed services business and he sold it maybe about 10 years ago. But didn't make generation wealth but made, you know, multiple 7-figures.

So did perfectly well. And I remember when he asked me, what do you think I should do? Should I sell or not? I said, what I know about your business is your sector, your vertical is due for consolidation. So yeah, me I would take the chips off the table. I would take all the chips off the table and that's exactly what he did.

And that's exactly what happened that business contracted. I said you don't want to be the last one on the dance floor without a partner. Cause that's what happens. You think everything's rosie, but businesses always, sectors always go through these cycles of expansion and contraction. So you can't hold out for the last eight there.

You want to sell on the way up or maybe after it's peaked on the way down, but that's also rather risky. And if you leave a little money on the table, as the old saying goes, nobody ever went broke taking a profit.

In Jimmy's case, I think he made a blunder in underestimating the value of what his wife was getting out of the, now she wasn't a participant in the business, but she was still benefiting from it tremendously.

And I just don't think he considered that. And the other side of the thing was, so I said, where do you invest your money? Now that you've got a bunch of money? And he said I clipped coupons. And for those who don't know what that means, that means he buys municipal bonds, which come with a coupon, ultra-safe sort of investment. Every once in a while, Detroit goes out of business, but depending on where you're buying your muni bonds, they tend to be a very safe widows and orphans kind of thing. That's the other side of it, which is huh, that seems like a really conservative strategy even if you did make $30 million after taxes. Yes, it's generational wealth, but you do want want to parlay that into something bigger I would think. I was a little shocked at that and not the only person I've ever met, who basically takes an ultra-conservative approach. Which to me seemed very counter to the entrepreneurial spirit. Not to say that all entrepreneurs are swashbuckling, Elon Musk types who were throwing caution to the wind, but it did seem a little bit out of kilter to me.

[00:10:24] Jeffrey Feldberg: Well, what's interesting there, Henry and for our listeners, two important takeaways here that Henry was sharing. In Jimmy's case, it's such an easy, I'm going to call it maybe mistakes. Some people would call it, I'm going to call it an oversight. So in Jimmy's case, the bigger oversight that he made was he didn't include his wife, not in the day-to-day of the business, but generally what's going on and where things are at.

And at Deep Wealth, we have a saying that goes, and it's not, or saying we had borrowed this, but it's a terrific saying nonetheless. When the team works, the dream works. Now for most business owners is obvious. Well, The team, Okay, it's myself. It's my management. It's my key employees, my investment banker, my M&A lawyer, my accountants, and the list goes on and on.

But even before you have your liquidity event team, you better have your significant other, your life partner, your spouse. Are they part of your team? Is that an oversight because if that something that you haven't been doing from the start, start today. Do that right now and include them because when your life partner or significant other, your spouse, whoever that important person is in your life, when they know the dragons that you're slaying day in, day out, and they can be with you on that journey, through the ups, the downs and everything else that goes with that, it just makes life so much easier because if you don't have it together on the home, front, my personal thesis, it's going to spill over onto the business front.

And the other interesting thing Henry, that you're talking about was really what we like to call the big picture, which is actually step one of the 9-step roadmap, hey, what's going on in your industry? Just because the skies are clear, the sun is out. It's terrific weather that can change in a heartbeat and Henry to your point, if you're not paying attention of what's going on and if there's consolidation or there's an inflection point or something's changing.

It could put you out of business and in not such a great position. So Henry you've shared with us really big picture-wise, what to do, what not to do, but what about when it comes to the money side and on the financial side, when we're operating our businesses, we can talk about after the post-exit life in a moment, but when it comes to operating our businesses, what pros of wisdom would you have for business owners of how they should be handling their profits, their savings or cash flow, all of that. What does that look like?

[00:12:47] Henry Daas: There are a few things there. So if you're an early-stage business and I've worked with a lot of early-stage, I called them stage zero that may be working their way up to a million dollars a year, top line, which interestingly enough of the 30 million-plus businesses in the United States, only a little less than 4% of those businesses will ever exceed a million dollars top line.

So most businesses are small businesses. So one of the things that I encourage new clients or existing clients or anybody that I talk to is try to get as backstopped, as you can, meaning, get yourself credit lines, even if you don't need, stockpile them as best as you can. Because when the day comes that you need, it will be the day that you won't be able to get it.

So that's something that's just, I consider that kind of one-on-one table stakes. Do whatever you need to do.

[00:13:34] Jeffrey Feldberg: I love that Henry because particularly today, and I don't know what timeframe will need to pass if it's a year from now or 10 years. But we're going to look back right now today and say, what interest rates were, how low? Look, where they are at right now. And we're still going through this whole pandemic and this new normal and everything else.

And you're hearing things like, yes, interest rates are going to go up four or five times in a year. It never would go up three times in three years, but now we're talking in a year.

[00:14:03] Henry Daas: Well, there's a whole collection of entrepreneurs out there who have never seen anything but low interest rates. And I remember my first mortgage seven and three quarters, I thought I died and went to heaven. Cause I remember the 1970s when they went up to close to 20%, it was absurd.

So we've been in this environment where it's, I'll be so bold as to call it a free money environment a long time. And that gravy train may or may not be over. It'll take a while. If they raise it 25 basis points, 50 basis points it'll impact things, but I don't see them raising it back to, 5, 6, 7, 8%. That's a ways down the road. If we even get there again, I might be dead by the time that happens. But my point is that at an early part in your business, try to get all your ducks in a row in terms of money that you may or may not need at some event that some inflection points somewhere in the future, whether it be good or bad.

Having too much business can stifle a company as well as having too little. Either way you need to have that cash flow and trying to bootstrap a business as it levels up gets more and more difficult. So you need to be aware of that from the get-go. As you scale up, you're trying to get economies of scale by adding minimal headcount, but raising the top line and raising your margins.

That's the other side that you have to constantly look at as a business owner. I remember talking to a guy many, many years ago, who said something very profound to me. He said, listen, you only need two things to determine whether a business is viable or not. You need cash flow and gross margin. You said, if you can master those two beasts whether you're selling paperclips or 747s, you can run that business.

It may be harder depending on how thin the margins are and how tough the cashflow is. But those are the two that's like the two-headed dragon that you have to wrestle from a financial side. If you lose sight of those things, bad stuff happens. It just does.

[00:16:04] Jeffrey Feldberg: Terrific advice. And I hope our listeners are not only paying close attention but putting on their action list, get a line of credit if you don't have it. Expand my line of credit if I do have it because you're absolutely right. You never know when you're going to need it and when you need it, you're not going to have the time to be able to go and get the line of credit. So go and get that.

So Henry, along those lines, are there some other low-hanging fruit kinds of strategies that business owners should be thinking about on the financial side?

[00:16:32] Henry Daas: Yeah. There's one that just came up a couple of days ago for me. A former business partner of mine called me for my advice on a new venture that he wants to start, which is around NFTs and crypto. And stuff that I don't really understand. I'm not sure there's a person on the planet who quite understands it, but there's a little bit of a gold rush going on within that space.

And he wants to capitalize on that, I added them to one of my slack channels. And I said, just slack me the info that you had. And then he sent me something saying, I'm looking for this particular person. This is the CV of a person that I want to hire. I'm prepared to give them equity for taking on this position.

And I immediately flagged out because I've seen this happen over and over again. Equity is the most expensive way that you can finance anything. So if you want to bring somebody into the fold, pay them. They don't have the money to take it out of your credit line, pay them cash. Do not give equity away at an early stage to somebody that you're just hiring off the street.

Yeah. On the surface is if the venture fails, I don't owe them any money. Great. So you want to bank on failure. You want to bank on success. If the business is successful, you just gave a windfall to somebody who just happened to be in the right place at the right time. That's not the people that you want to give equity to.

You want to save that for the opportunity when you're going to do a friends and family round or a seed round or a series a or whatever the hell it might be, where that stuff has enormous value. But instead, you know, you can't have give him 10% of the company. The company is not worth anything now. Yeah.

Five minutes from now that company is worth $50 million. Do you really want to give that to somebody just for them to write some code for you? And I've seen this happen multiple times, which is why I bring it up. It's not just a one-off thing. I've seen this to the point where it's become trope with me, which is don't do that.

Exhaust the debt, exhausted debt channels before you ever turn your attention to the equity side,

[00:18:29] Jeffrey Feldberg: Absolutely Henry words to the wise. And again, for all the business owners out there, your company, that is the most valuable thing. And think about this for a moment. Not only are you literally giving away the bank. For sometimes hundreds of dollars or thousands, maybe even 10 thousand, or for nothing.

But think about this when the company grows, it's worth considerably more, but whether you're getting an investor or whether you're getting a buyer.

And in step number three of the 9-step roadmap, we talk all about mastering the art of thinking like a buyer, to be blunt, the more owners that you have in the business, and when you give equity to somebody guess what they are now an owner in the business, the more complicated it becomes, what if you want to do a deal, but the person, even if it's a minority interest, doesn't want to do the deal.

And although they can't stop it, they can create issues and problems. Oh, there are so many opportunities out there that potential investor or buyer will just go to the next deal. So it's so costly in more ways that you can think of. Keep your equity. If you have to beg and borrow, go and do that before you ever give away your equity. So Henry you're on a roll here with get a line of credit. Don't give away the equity.

[00:19:41] Henry Daas: And I haven't even read your 9-steps. Oh my God.

[00:19:44] Jeffrey Feldberg: There you go. You can keep on talking about this. Is it a trio? Do you have another one just to round things out here of just some words to the wise for business owners.

[00:19:52] Henry Daas: Well, One of the things that I see very often is the old Michael Gerber work on your business, not in your business. So think about it from the perspective of what is going to be expected of me from a potential buyer, meaning can this business stand on its own two feet without my participation?

Or is there so much stuff in my head that it's going to take me a lifetime to dump that? If that's the case, you know what? I might as well just continue to manage this business. You have to get your business into a situation where it's salable without your participation. If you want to sign a deal, my friend who sold his business. He signed a deal where he walked away, but I've known other people, friends, and clients who've had a say a three-year payout. Sometimes it's worked out well other times, not so much because let's face it, you sold the business you want, and the liquidity event you wanted to get out, you want to walk away.

But part of the terms of the deal was you had to work for them for three more years. Now you just went from being an entrepreneur to being an employee. Not your company anymore. Everything has to change mentally. Do you really want to do that? Some people can do it with them finesse other folks, it's the three most miserable years of their life.

And they say to themselves, wow that really took a lot of the starch out of the money that I got for selling this business.

[00:21:15] Jeffrey Feldberg: Oh, yes, absolutely. We're with you there. And I'm going to add, this is a word that we actually banished at Deep Wealth. It's the E word. And it's earn-out, which most of the time works out best for the actual buyer and not for the business owner. Who's the seller, but Henry let's flip it now.

So we were talking a little bit about what mistakes not to make you shared a trio of some best practices that we should all be thinking about in our businesses. Let's go to success because as much as we learn from failure, we also learn from success. And you look at your experience and with the clients and those that you've been coaching.

Maybe you can pick out a success story and share with us some of the patterns that particular business owner had done to make it a success. What was their secret sauce that really had them stand out from the competition and from others that we can learn from?

[00:22:07] Henry Daas: I have a degree in electrical engineering. So I have the engineer's mind that sort of systematic, methodical approach to things. There's a great book that's called the checklist manifesto, a tool, go on. Who wrote that? Definitely, something that I think is required reading.

And he was a doctor and they built checklists to do stuff. And I work a lot from checklists and other types of documents. You need to create, pretty much from the get-go SOP, Standard Operating Procedure. You need to be building that pretty much from day one. This is how this company operates.

I'm working on a new book. I call it CODFISH as the unlikely title. It grew out of a coaching session many years ago, and CODFISH stands for Customer support Operations Development Finance Infrastructure Sales and Marketing Human Resources. I call those the seven silos that any business, whether you're a solopreneur like me, or you're a $3 trillion company like apple, you've got those seven silos.

You only have six, you got seven of those, each one of those things. And I call them silos for a reason because in many companies they are siloed. They're not really talking to each other. You need to build the SLPs within those individual silos. And then you have to create the rules of engagement for how those silos interact with other silos within the company because they're going to be there no matter what.

 Even if you're just a single guy like me, I got to cover all of those bases. So that's something that you need to imbue into your company from day one because it's very hard. If you've been running things loosey-goosey. And been successful in spite of your best efforts. Very often, it's a Herculean task to, later on, go back and say, oh gee whiz.

I've noticed consolidation in my business. And I've noticed that multiples have gone up and talking to people, it's hey, this is a really good time for me to sell. Problem is it's gonna take me two years to get all the ducks in a row to sell this business.

Oh, you want to be prepared, maybe not perfectly prepared, but to the point where you decide one day that, hey, there's opportunities out for me to get out of this business. And I want to close in 90 days.

[00:24:20] Jeffrey Feldberg: Absolutely Henry and you're taking a page right out of the Deep Wealth playbook, as we like to say when you're prepared and it could take you two years to prepare or could take longer, could take shorter, but when you're prepared, you tell me you run a thriving and profitable business forever because the strategies of preparation are really the same strategies for growth.

Or you sell it tomorrow, both are terrific options, but the point is that you have a choice of keeping it forever or selling it tomorrow because you're prepared. And so as a great example, and this is actually a terrific segue in terms of what's going on in today's climate, in today's marketplace, who would have thought that a worldwide pandemic shuts down the world literally becomes one of the best mergers and acquisitions market ever. Now, certain sectors, obviously aren't going to be in there, but for the sectors that were, if your business was prepared and ready, you could have realized a deal of a lifetime. If you weren't ready. Okay. You can start preparing and when you're ready, maybe it'll still be there.

Maybe it won't be. But the point is the businesses and those business owners that were ready at the starting gate for just this kind of situation to happen they were the benefactors of that. And so absolutely love what you're saying with that.

So Henry talked to us from what you're seeing the world has changed. We're still going through the pandemic, it seems to be a new normal every day. It keeps on changing. What have been some of the biggest changes in your world and for your clients as it pertains to business?

[00:25:51] Henry Daas: Well, when the pandemic first happened in I guess March of '20. From April, May, and June of '20, I opened my business coaching practice to any and all for free. And I had more than a hundred calls with different business owners. I just put it out on a couple of networks that, hey my door was open.

If you wanted to come and talk to me, I thought a couple of people take advantage of it. All of a sudden it was like, and I don't say this to be braggadocious. It's just a lot of people were concerned. First-person that I talked to, was a woman who ran a travel business. Her business went to basically to zero overnight.

That's an unheard-of event. And the question that I asked her, and I asked to everybody subsequently that I spoke to was if this lasts till the end of 2021 are you going to be okay?

Pretty much everybody said. I'm going to be okay. It's like Maslow's Hierarchy of needs. As a business owner, when the tide goes out like this, this is an exceptional event. You just start traveling down that pyramid to the base level food, shelter, clothing.

I got to keep the lights on. I had a couple clients who discontinued with me. I said, if you didn't discontinue with me, I would have fired myself. Cause I know enough about your business you can't afford to pay for me when you're going to have to lay people off. Your allegiance needs to be to your rank and file not to me.

 I'm easy to hire. I'm even easier to fire. The companies that are resilient in the case of this are the companies that have structure, know exactly what it is that they do. And most importantly, don't panic because as much as it seems like this is forever it's not.

I remember talking to one of my kids who's in college, he's still in college. He was just kind of lamenting about the fact that he kind of got cheated with the remote classes and this, that, and the other thing. And I said, your grandma's spent five years during World War II at home.

With no men around and with rations and with a war raging and two fronts, I said, and if she could do that for five years, you can do this for you know, a year or two years or whatever it takes. She'll be able to do it standing on your head. So don't lose perspective because when you're in the middle of the hurricane, it's dizzying and you don't really know what's going on.

Take a step back, and evaluate all the most basic things that you have. And if those are secure, you can build, but if they're not secured well, you better get them secured.

[00:28:10] Jeffrey Feldberg: Henry a great perspective on that and always to remind us, it's at the darkest moment or what feels like the darkest moment that the light the dawn is just around the corner. Hang in there, stay with it. And hey, we're entrepreneurs, founders, business owners. We have resilience it's within us. Sometimes we forget it.

[00:28:30] Henry Daas: Well, You better or you're not gonna survive. Let's just call it what it is. The entrepreneurs are a different breed, everything about how they operate. That's why there are so few of them and there are even fewer that are successful. You have to think differently. You just have to.

[00:28:44] Jeffrey Feldberg: Absolutely. I agreed in resilience entrepreneurs they go hand in hand. So Henry, let me ask you this. We're at the point in the interview where we're starting to wrap up and I want you to think of the movie Back to the Future. This is one of my favorite questions to ask. So in the movie, Back to the Future, you have that magical DeLorean car, and that DeLorean car will take you to any point in time.

So Henry imagine it's tomorrow morning, you look outside your window and there is a DeLorean car. The door is open, is waiting for you to hop on in, and you can go to any point in your life, Henry, as a child or a teenager, a young adult, whatever the point in time would be. Henry, what are you telling your younger self in terms of life lessons or wisdom, or, hey, do this, but don't do that.

What does that look like for you?

[00:29:34] Henry Daas: You know, I would travel back probably to 1968 when I was nine years old and all those baseball wax packs that I bought, I would not open them. I would put them away. And I would say because I'm going to open these 50 years from now and they're going to be worth about a hundred times more, what they were when I was years old.

I swear to God sometimes I think about that. It's like, you know, cause it's one of the lessons of the pandemic that you've mentioned here about the M&A going crazy. I'm just reading the other day about commercial real estate had one of the best years ever. Those of us who trade the stock market the S&P 500 was up 28%.

It almost seems like the world's upside down, but yet as much as I'd love to go back at that particular moment in time, I'm really happy that I am where I am. I was born in '59 and I've had the opportunity to see this sort of technological evolution. I graduated college in '81 the same year that the IBM PC was introduced.

So I've been at the, sort of the forefront of technology. I was watching some movie the other day that was set in the nineties and they were talking about, Yahoo and AltaVista. And I was kinda like, oh yeah. And they're dialing up to get on the Internet. And it's like I lived through all of that.

You know, when ATMs were invented, I was, I think in college when the first ATM showed up, this is magic. I got a card. I can stick it in a thing and I can get money out. I mean, it's insane. I have perspective there and I really do appreciate what we have seen evolve.

I think a little bit more so than the younger people who've never lived without a cell phone. We had a phone where you had to dial a rotary dial and if you miss dial, it's damn it. I misdialed. And it's taking time out of your life. Now, everything is, you know, time is compressed. You can do so much in such a short period of time now, which is pretty astonishing.

[00:31:35] Jeffrey Feldberg: What a terrific perspective and really not to put words in your mouth. What I think I'm hearing you say is, hey, I don't know, baseball cards aside. I don't know if I would change a thing. I am where I am today because of how it went down. And I'm a better person for that. And I think that's such wisdom.

Henry, as we begin to wrap up the episode if someone wants to reach out to you online, what would be the best place for that?

[00:31:56] Henry Daas: Oh you can go to either my personal site, which is henrydaas.com. It kind of has links to my various business stuff but also has links to my baseball cards and my screenplays cause I've written 11 screenplays. We just came back from a safari in Africa for the month of January.

So I put up whole bunch of photos up from our little safari adventure. If you want, just the business stuff you go to either Daas Knowledge or DaasFQ and you can find my business stuff there.

[00:32:23] Jeffrey Feldberg: Terrific. And for our listeners, we will have that all in the show notes. That would be so easy for you. So it'll be a point and click and Henry, as we begin to wrap up this episode now as always, Thank you so much for taking part of your day and spending it with us here with the Deep Wealth community.

And as we close this out, please stay healthy and safe.

[00:32:41] Henry Daas: Thank you Jeffrey for having me, you as well.

[00:32:43] Sharon S.: The Deep Wealth Experience was definitely a game-changer for me.

[00:32:47] Lyn M.: This course is one of the best investments you will ever make because you will get an ROI of a hundred times that. Anybody who doesn't go through it will lose millions.

[00:32:57] Kam H.: If you don't have time for this program, you'll never have time for a successful liquidity

[00:33:01] Sharon S.: It was the best value of any business course I've ever taken. The money was very well spent.

[00:33:08] Lyn M.: Compared to when we first began, today I feel better prepared, but in some respects, may be less prepared, not because of the course, but because the course brought to light so many things that I thought we were on top of that we need to fix.

[00:33:23] Kam H.: I 100% believe there's never a great time for a business owner to allocate extra hours into his or her week or day. So it's an investment that will yield results today. I thought I will reap the benefit of this program in three to five years down the road. But as soon as I stepped forward into the program, my mind changed immediately.

[00:33:46] Sharon S.: There was so much value in the experience that the time I invested paid back so much for the energy that was expended.

[00:33:56] Lyn M.: The Deep Wealth Experience compared to other programs is the top. What we learned is very practical. Sometimes you learn stuff that it's great to learn, but you never use it. The stuff we learned from Deep Wealth Experience, I believe it's going to benefit us a boatload.

[00:34:09] Kam H.: I've done an executive MBA. I've worked for billion-dollar companies before. I've worked for smaller companies before I started my business. I've been running my business successfully now for getting close to a decade. We're on a growth trajectory. Reflecting back on the Deep Wealth, I knew less than 10% what I know now, maybe close to 1% even.

[00:34:28] Sharon S.: Hands down the best program in which I've ever participated. And we've done a lot of different things over the years. We've been in other mastermind groups, gone to many seminars, workshops, conferences, retreats, read books. This was so different. I haven't had an experience that's anything close to this in all the years that we've been at this.

It's five-star, A-plus.

[00:34:54] Kam H.: I would highly recommend it to any super busy business owner out there.

Deep Wealth is an accurate name for it. This program leads to deeper wealth and happier wealth, not just deeper wealth. I don't think there's a dollar value that could be associated with such an experience and knowledge that could be applied today and forever.

[00:35:13] Jeffrey Feldberg: Are you leaving millions on the table?

Please visit www.deepwealth.com/success to learn more.

If you're not on my email list, you'll want to be. Sign up at www.deepwealth.com/podcast. And if you enjoyed this episode of the Sell My Business podcast, please leave a review on Apple Podcasts. Reviews help me reach new listeners, grow the show and continue to create content that you'll enjoy.

As we close out this episode, a heartfelt thank you for your time. And as always, please stay healthy and safe. 

This podcast is brought to you by Deep Wealth. 

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Your liquidity event is the most important financial transaction of your life. You have one chance to get it right, and you better make it count. 

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Enjoy the interview!