"If you're doing your KPIs based on cash accounting, you're not seeing the real picture of your business." – Harry Cendrowski

What You’ll Discover Today:

Most business owners don’t realize they’re using the wrong accounting method—and it’s costing them. In this episode, Dave Lorenzo and Harry Cendrowski break down the crucial differences between cash accounting and accrual accounting, and why every growing business should understand both.

Key Topics Discussed:

• What cash accounting really means (and why it’s misleading)
• The role of accrual accounting in accurate financial forecasting
• Why banks and buyers insist on accrual-based financials
• When and how to transition from cash to accrual accounting
• How accrual accounting impacts budgeting, tax planning, and business valuation
• Real-world scenarios where accrual accounting reveals the truth behind the numbers
• What it takes to convert your financials (and how long it actually takes)

Links and Resources:

• Subscribe via Email: GetInsideBS.com
• Listen on Spotify: Inside BS Show on Spotify
• Listen on Apple Podcasts: Inside BS Show on Apple Podcasts
• Call Us: (305) 692-5531
• Contact Harry Cendrowski: (866) 717-1607

Call to Action:

🎧 If you’re still using cash accounting, this episode is your wake-up call. Watch the video below to see why accrual accounting is essential to serious business growth.

“One-third of your time as a leader should be spent training your replacement.” — Dave Lorenzo

What You’ll Discover Today:

Succession planning is often buried in corporate-speak and theory. But if you want to increase your business value and protect your legacy, you need a practical, repeatable approach that actually works. In this episode, Dave Lorenzo gives you a blueprint based on real-world experience as a hotel executive and growth consultant to family businesses.

Key Topics Discussed:

• Why theoretical succession plans fail
• How to outline a job role for effective training
• Using a daily checklist to boost accountability
• The simple time-tracking method that builds better systems
• How to turn calendar data into a training curriculum
• Why every manager should spend one-third of their time training others
• The direct link between succession planning and business valuation
• How Exit Success Lab builds leadership pipelines with every client

Links and Resources:

• Subscribe via Email: GetInsideBS.com
• Listen on Spotify: Inside BS Show on Spotify
• Listen on Apple Podcasts: Inside BS Show on Apple Podcasts
• Call Us: (305) 692-5531

Call to Action:

Spend one-third of your time preparing your successor. It’s the single most valuable investment you can make in your business. Subscribe to the show, leave a review, and forward this episode to another family business owner today.

“If you've done succession planning right, your business could be worth 50 percent more than if you haven't.”

What You’ll Discover Today:

How to build a succession plan that actually works—starting with you, the CEO—and why doing it right makes your business far more valuable.

Key Topics Discussed:

• Why every position is critical for succession planning
• How to build a continuity plan for the CEO role
• The importance of separating the CEO and President roles in your business
• Why succession planning should be baked into your company culture and performance reviews
• How to prepare for a family transition vs. preparing a business for sale
• The financial impact of effective succession planning on business valuation
• What private equity buyers look for in a leadership continuity plan

Links and Resources:

• Subscribe Via Email: GetInsideBS.com
• Listen on Spotify: Inside BS Show on Spotify
• Listen on Apple Podcasts: Inside BS Show on Apple Podcasts
• Call Us: (305) 692-5531

Call to Action:

If you're serious about increasing your business value and making a future transition seamless, start by creating a succession plan today. If you're not sure how, we can help. Schedule a call at (305) 692-5531 or visit GetInsideBS.com for more resources.

“Succession planning is the key to unlocking freedom and value in your family business.”

What You’ll Discover Today:
If you own a family business and want to protect its legacy and value, you need a rock-solid succession plan. In today’s episode, Dave Lorenzo walks you step-by-step through the exact process he uses with his clients to build a succession planning program that works.

Key Topics Discussed:
-- Why every position in your company must have a written job description
-- How to track and document real-world tasks to align with role expectations
-- The three task buckets: Admin, Management, Leadership
-- How to build training programs around these roles and tasks
-- When to start training someone for their next position
-- Why 80 percent mastery is the magic number for promotion
-- How this system builds business value and leadership continuity

Links and Resources:
Subscribe Via Email: GetInsideBS.com
Listen on Spotify: Inside BS Show on Spotify
Listen on Apple Podcasts: Inside BS Show on Apple Podcasts
Call Us: (305) 692-5531

Call to Action:
Succession planning isn’t just for retirement. It’s how you build a business that can run without you. Tune in to this episode and take the first step toward building a sustainable and scalable company.

We’re taking a break from your regularly scheduled show notes. No tidy bullet points. No calm summaries. No hand-holding MBA nonsense. Today, we’re cracking open the skull of succession planning and scooping out the raw brain matter. Gonzo-style. If you’re looking for a spreadsheet, go back to accounting. This ride is for the mad ones.

It started, as these things often do, with a wiseass comment under a video:

“Am I supposed to just find somebody tomorrow to take over for me?”

That’s when Dave—our ever-composed consigliere of capitalism—snapped back with the kind of clarity you only get after wrestling a business to the mat and making it tap out.

No, you’re not finding a savior tomorrow. You start contingency planning tomorrow, which is corporate-speak for what happens when you get hit by a bus and can’t check Slack for a week.

First 24 hours: Who runs the asylum?
One week: Who’s got the keys to payroll?
One month: Who’s making sure the ship doesn’t sink from operational rot?

If nobody can step in and keep your circus running without the ringleader, you’re not a leader. You’re a hostage.

And that’s just the warm-up act.

Succession planning, real succession planning, goes beyond handing off tasks like you’re dealing cards in a smoky backroom. It’s a three-stage metamorphosis:

-- First, dump the administrative hellscape on your would-be heir. Let them swim in the mind-numbing sludge of emails, calendar invites, and vendor contracts.
-- Then, saddle them with the managerial grind. The daily headaches. The meetings that go nowhere. The babysitting.
-- Finally, if they’re still breathing, slowly drip-feed the real poison—the leadership. That’s where most crash and burn.

Leadership isn’t about title. It’s what happens when your teammate screws up and the vultures circle. It’s the volleyball game where one girl makes the critical mistake and your kid has the chance to act like a leader, but misses it. It’s knowing when to stop the world and say, “That moment? That was your shot to show who you are.”

And this is where Dave turns from business guide to father-philosopher. He pulls back the curtain, tells a story about his daughter, and reveals the secret sauce of succession:

You don’t just teach leadership. You point it out when it happens. You pause the world, hold it up like a snow globe, and say, ‘See this? This matters.’

Succession isn’t a checklist. It’s cultural warfare.

You build a culture of continuous leadership development or you die buried under your own brilliance.

T
his episode isn’t about tasks. It’s a war cry for business owners who think their brilliance is their value.

It’s not.

It’s your bottleneck.

So go ahead—ditch the quarterly reviews. Burn the org chart.

Start asking yourself: Who takes over when I vanish?

If you don’t have an answer, congratulations, you’re the risk.

You want to see the chaos in motion?
Watch the full episode.

👉 GetInsideBS.com

The revolution meets at 6 a.m.

On this episode, Dave Lorenzo explains what succession planning really means inside a family business—and why most people are doing it wrong. He breaks down how to prepare every role in your business for both short-term backup and long-term succession, from frontline workers to leadership positions.

Key Topics Discussed:

• The real definition of succession planning in a family business
• Why it matters whether you're selling the business or handing it off
• How to build a contingency plan for every position, even the janitor
• The difference between a backup and a successor
• What "80% readiness" means for future role holders
• Leadership development and succession planning in management roles
• How to conduct performance reviews that promote growth and succession
• Why Exit Success Lab’s method creates a lasting competitive advantage

Links and Resources:

• Subscribe via Email: GetInsideBS.com
• Listen on Spotify: Inside BS Show on Spotify
• Listen on Apple Podcasts: Inside BS Show on Apple Podcasts
• Call Us: (305) 692-5531

Call to Action:
Subscribe at GetInsideBS.com to receive Dave's daily email and get your exclusive invitation to the monthly private meeting hosted by Dave Lorenzo and Nicola Gelormino for family business owners and the professionals who serve them.

In this insightful episode, we delve into the pivotal reasons why engaging a professional business broker is crucial when selling your business. We explore the complexities of the sales process, the value a broker brings in navigating negotiations, and how their expertise can lead to a more profitable and efficient sale.

Key Topics Covered:

• Understanding the Sales Process: An overview of the steps involved in selling a business and where common pitfalls occur.
• Valuation Challenges: How business brokers assist in accurately valuing your business to attract serious buyers.
• Marketing Your Business: Strategies brokers use to market your business confidentially and effectively.
• Negotiation and Deal Structuring: The role of brokers in negotiating terms and structuring deals that align with your goals.
• Due Diligence and Closing: Assistance provided by brokers during the due diligence phase and ensuring a smooth closing process.

Call to Action:

If you're considering selling your business and want to ensure a successful outcome, consult with a professional business broker to guide you through the process.

How Exit Success Lab Helps Family Businesses Grow, Transition, and Thrive

On this episode of the Inside BS Show, Dave Lorenzo breaks down the three core ways Exit Success Lab supports family-owned businesses. Whether you're trying to unlock growth, preparing to transition to the next generation, or planning a sale, Dave shares how his team guides you every step of the way. You'll also hear how Exit Success Lab coaches professionals who want to work with family businesses—and how business brokers and M&A advisors collaborate with the firm to prepare companies for market.

What You’ll Discover Today:

• Why family businesses require a unique approach to coaching and consulting
• The three specific types of support Exit Success Lab offers family business owners
• How professionals can get certified to work with family businesses through Exit Success Lab
• Why brokers and M&A professionals send clients to Exit Success Lab for preparation

Key Topics Discussed:

• Growth consulting for family businesses
• Generational succession planning
• Preparing for a strategic or financial transition
• Certified coaching program for professionals serving family-owned companies
• Partnerships with M&A professionals and business brokers

Links and Resources:

• Subscribe via Email: GetInsideBS.com
• Listen on Spotify: Inside BS Show on Spotify
• Listen on Apple Podcasts: Inside BS Show on Apple
• Call Us: (305) 692-5531

Call to Action:
If you're a family business owner, a professional looking to serve that market, or a broker with a client who needs help getting ready for a sale, call Dave Lorenzo at (305) 692-5531 to start the conversation.