We caught up with the brilliant and insightful Tim Martinez a few weeks ago and have shared our conversation below.

Alright, Tim thanks for taking the time to share your stories and insights with us today. We’d love for you to start by sharing your thoughts about the pros and cons of family businesses.

The majority of businesses in this country are small businesses. According to the U.S. Bureau of the Census, about 90% of American businesses are family-owned and operated. It’s estimated that 80%+ of a business owners net-worth is tied up in their business, according to the Exit Planning Institute. As baby-boomers retire from their businesses they are seeking out successors as a means for them to realize the equitable value locked up in their businesses.

Education around Exit planning and Succession planning will continue to be a high priority as the boomers age out. In many cases the children of these business owners simply do not want to take the business over, which leaves the parents seeking alternative solutions, for example structuring management buy-out scenarios.

The sooner a business owners plans for the eventual exit from the business, the better.

Tim, love having you share your insights with us. Before we ask you more questions, maybe you can take a moment to introduce yourself to our readers who might have missed our earlier conversations?

I’m a lifelong entrepreneur and continual learner. My journey includes owning and selling a range of small businesses from my mid teens to mid twenties. My entrepreneurial adventures led me to own retail stores, an event company, multiple marketing agencies, app development company, apparel company and recording studio.

Over the many years I’ve had the great fortune to enroll amazing strategic partners, investors and collaborators in my ventures.

In 2006 I founded The Inside Man, an independent consulting practice with the mission of helping entrepreneurs succeed in an effort to create more jobs, solve more problems and make the world a better place for generations to come.

I am most proud of the many lives I have been able to positively affect as a coach/consultant/mentor for almost 20 years.

How’d you build such a strong reputation within your market?

I have worked very hard to build my reputation on three pillars: 1. Do what you say – no matter how much is required. If you commit, see it through.
2. Put in the extra effort to ensure quality.
3. Never neglect my relationships – always check-in on my people.

Are there any books, videos or other content that you feel have meaningfully impacted your thinking?

I’ve been an avid reader since I was a teenager and the topics of business and personal development have always fascinated me. A few key books that shaped me early on were: Thing and Grow Rich, Rich Dad poor Dad, The e-Myth, Good to Great, As a Man Thinketh and anything by Peter Drucker and Seth Godin.

Contact Info:

• Website: https://www.theinsideman.biz/
• Linkedin: https://www.linkedin.com/in/theinsideman/
• Twitter: https://twitter.com/theinsidemanbiz