Your Business Your Life

Matt Di Francesco
  • 5.0 (5)
  • ENTREPRENEURSHIP
  • UPDATED BIMONTHLY
Your Business Your Life

Welcome to Your Business, Your Life with Matt DiFrancesco, your personal financial quarterback. Business owners needs are a bit different; aligning your business and family are critical to your success – We help with your unique challenges so you reach your financial goals. Your business – your life, it’s our priority at Di Francesco Virtual Family Office. Let’s get started

  1. JAN 3

    104. Building the Future: Apprentice Programs and Mentorship in Collision Repair with Stan Russell

    As we enter the new year, many repair shop owners are focused on setting growth and success goals; one challenge remains at the forefront: finding and retaining talent.  It’s an issue facing nearly everyone in the industry, which makes today’s guest, Stan Russell, the perfect person to kick off the year.  With decades of experience as a technician, educator, and mentor, Stan has made it his mission to develop solutions that benefit both shop owners and young technicians. His passion for cars has driven him to create impactful apprentice programs that teach essential skills, including business and financial literacy.  Join Matt DiFrancesco and Stan Russell, Director of Training and Apprentice Development at CollisionRight,  as they share their insights on building strong teams, setting realistic goals, and shaping the future of the industry through mentorship and education. Matt and Stan also talk about: (03:17) What needs to change to attract young talent into the collision repair industry? (04:49) Why teaching the business perspective is crucial for training young technicians (07:39) An advice to help young people future-proof their careers in collision repair (12:38) Why rapid technician training programs are setting up the industry for failure (14:04) How can experienced technicians help secure the future of the industry (15:53) The challenges educators face when running high school automotive programs (19:57) Why a college degree is no longer the only path to career success (22:56) Why is training the right person to run your business worth the investment? (23:53) How can independent shop owners find and attract trained young talent? Connect With Stan Russell LinkedIn: https://www.linkedin.com/in/stan-russell-08246326/ Website: https://collisionright.com/ Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial About the guest: Stan Russell began his journey in the collision repair industry in 1984 as an apprentice technician after graduating from Lincoln County High School in Fayetteville, Tennessee. His entrepreneurial spirit soon led him to launch his own repair shop in 1989, marking the start of a dynamic and influential career. One of his most groundbreaking contributions came in 2015 when he became the pilot instructor for the Service King Start Program. This innovative initiative, the first industry-funded collision repair program in the U.S., was based in high schools, introducing young people to the opportunities available in the trade. In the fall of 2023, Stan joined CollisionRight, a regional MSO headquartered in Dublin, Ohio, where he now leads the design and implementation of their Right Start Apprentice Programs. His mission is clear: to make a lasting positive impact on the industry and the next generation. Stan is passionate about highlighting the specialized nature and financial potential of careers in collision repair. He aims to shift perceptions—whether among young people or shop owners—about the lucrative and rewarding opportunities this industry offers. Disclaimer: All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here. High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC.  Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.

    28 min

  2. 12/12/2024

    103. Structuring Business for Tax Efficiency and Succession Planning: Part 3 with Stuart Sorkin

    Welcome to this third and final installment of our educational series on structuring business for tax efficiencies.  In the previous sessions, we covered the complexities of C Corporations, including their benefits, drawbacks, and scenarios where they might be appropriate. In this episode, Matt and Stuart Sorkin, a seasoned attorney, CPA, and founder of Business and Legal Advisors, LLC, focus on Buy-Sel Agreements highlighting their importance and addressing common misconceptions. This topic is especially beneficial for business owners working with partners, employees, or family members who are shareholders as they learn a few practical strategies to help protect against unexpected events that could shake up ownership or create challenges for the business. Matt and Stuart also talk about: (01.29) Is succession planning the antithesis of a business owner’s strengths? (02:03) What is the Monte Carlo Analysis? (04:41) The question that will help you define your true business value (12:45) Why should business owners have Buy-Sell Agreements? (15:54) Why Stuart is a big proponent of always having a reverse offer (22:55) The agreement that Stuart missed which led to 7 years of litigation (29:51) Two types of insurance business owners must always consider (31:14) The issue with third-party financing (33:12) The one requirement to ensure growth and maximize the value of your business (33:58) Why it is crucial to build a team to help plan for your business’s future Connect With Stuart Sorkin Website: https://businessandlegaladvisors.com/ Personal Website: https://stuartsorkin.com/ Phone: (301) 320-1152 Email: info@businessandlegaladvisors.com LinkedIn: https://www.linkedin.com/in/stuart-sorkin-84a528/ Schedule a call with Stuart: https://calendly.com/stuart-sorkin Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial About the guest: Stuart H. Sorkin is the founder of Business and Legal Advisors, a firm that assists small and mid-size businesses with growth strategies.  With over 40 years of experience as an entrepreneur, CPA, and attorney, he specializes in business entity formation, mergers and acquisitions, tax and estate planning, and asset protection.  He co-authored Expensive Mistakes When Buying & Selling Companies…and How to Avoid Them in Your Deals and has been featured in publications like the Wall Street Journal and USA Today.  Stuart also serves on the Board of Trustees for the Jack R. Anderson Charitable Foundation. He holds a B.S.B.A. in Accounting and Finance, a law degree, and an LL.M. in taxation. Disclaimer: All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here. High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.

    37 min

  3. 11/27/2024

    102. Structuring Business for Tax Efficiency and Succession Planning: Part 2 with Stuart Sorkin

    Welcome back to part two of our special three-part educational series, where we continue exploring how business owners can optimize their structures for long-term success. While tax rates were covered in the previous episode, this conversation takes a closer look at other crucial factors that impact business owners, such as transfer strategies, control, and long-term financial planning. In this session, Matt is again joined by Stuart Sorkin, a seasoned attorney, CPA, and founder of Business and Legal Advisors, LLC, to dive deeper into the key differences between C Corps, S Corps, and LLCs. They also break down how the right entity structure can not only reduce tax liability but also provide shop owners with the flexibility to step back from day-to-day operations while ensuring future growth and stability. Matt and Stuart also talk about: (01.09) A big problem in raising investor capital with S-Corps (03:08) What is a non-qualified deferred compensation plan? (07:24) How strategic tax and equity planning can protect your business and key talent (11:49) The role of a strong partnership agreement (16:18) How to transition ownership while staying in control of the business (21:13) Key considerations for different stock classes (23:51) How employee agreements can protect your deal and boost valuation (28:45) How to turn key employees into owners without breaking the bank (31:42) How a holding company structure unlocks growth and employee equity (33:11) Why your CPA or attorney may not recommend a C-Corp Connect With Stuart Sorkin Website: https://businessandlegaladvisors.com/ Personal Website: https://stuartsorkin.com/ Phone: (301) 320-1152 Email: info@businessandlegaladvisors.com LinkedIn: https://www.linkedin.com/in/stuart-sorkin-84a528/ Schedule a call with Stuart: https://calendly.com/stuart-sorkin Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial About the guest: Stuart Sorkin brings over 40 years of experience as an angel investor, entrepreneur, CPA, and attorney, specializing in assisting business owners with growth and exit strategies.  In 2018, he founded The Business and Legal Advisors, a consulting firm focused on the financial and legal protection of business owners, executives, and entrepreneurs.  He has expertise in areas such as business entity formation, mergers and acquisitions, tax planning, succession planning, and estate planning.  Stuart is the co-author of Expensive Mistakes When Buying & Selling Companies...and How to Avoid Them in Your Deals and has spoken at various professional groups on exit strategies and asset protection.  He has been featured in top media outlets, including the Wall Street Journal and USA Today, for his insights on tax-related matters. Disclaimer: All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here. High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.

    39 min

  4. 11/25/2024

    101: Structuring Business for Tax Efficiency and Succession Planning: Part 1 with Stuart Sorkin

    Welcome to a special three-part educational series designed to help business owners rethink their roles and structures for long-term success.  Many shop owners today, especially younger ones, aren’t ready to transition out entirely but want their businesses to thrive without being dependent on their day-to-day involvement.  This series will explore key strategies to achieve that goal, starting with how the right business structure can minimize tax liability, enhance transfer options, and allow owners to maintain control while stepping back operationally.  In this first session, Matt is joined by Stuart Sorkin, a seasoned attorney, CPA, and founder of Business and Legal Advisors, LLC,  to talk about the impact of entity types on ownership goals and discuss the recent tax law updates and their implications, offering practical insights for shop owners looking to future-proof their businesses. Matt and Stuart also talk about: (04:00) Why body shop owners should rethink tax planning before 2026 (06:12) When is the right time to start planning your exit strategy? (06:47) How structuring your sale can save you in taxes (09:10) The benefits of the different business structures (17:15) Why most investors don’t like S-Corps (30:11) What S-Corps can do to fund big purchases without draining cash (32:24) How smart tax planning can keep you profitable without crossing the line (34:01) Why it is crucial to know who you are selling to (35:48) The importance of planning early (37:05) What is the built-in gains tax? Connect With Stuart Sorkin Website: https://businessandlegaladvisors.com/ Personal Website: https://stuartsorkin.com/ Phone: (301) 320-1152 Email: info@businessandlegaladvisors.com LinkedIn: https://www.linkedin.com/in/stuart-sorkin-84a528/ Schedule a call with Stuart: https://calendly.com/stuart-sorkin Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial About the guest: Stuart Sorkin is an attorney, CPA, and founder of Business and Legal Advisors, a consulting firm specializing in strategic business transfers.  With extensive experience in the collision industry, Stuart provides invaluable guidance to shop owners navigating complex transactions.  He is also the author of Expensive Mistakes When Buying and Selling Companies, a must-read book outlining common pitfalls in business sales.  Stuart’s expertise helps business owners avoid costly errors and make informed decisions.  Disclaimer: All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here. High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.

    40 min

  5. 11/21/2024

    100. 100 Episodes Strong: A Journey of Impact and Gratitude

    Welcome to a very special episode of Your Business, Your Life!! Today, we’re celebrating an incredible milestone—our 100th episode!  Four and a half years ago, Matt Di Francesco launched this podcast with one goal: to help business owners align their lives and businesses to create generational wealth. In this episode, Matt reflects on the journey, sharing the lessons learned and the impact created along the way. He expresses heartfelt gratitude to everyone who made this milestone possible.  He also outlines his plans to continue delivering value through the podcast, including exciting new initiatives and content. Matt talks about: (00:45) How the Your Business your Life podcast started (05:50) Why surrounding yourself with smarter people is a game-changer (06:54) Exciting plans for Your Business, Your Life in 2025 (11:53) Matt’s ultimate goal for the future Have a topic or question you'd like Matt to cover? We’d love to hear from you! Whether it’s about financial planning, exit strategies, or value building, feel free to share your suggestions or comments. Just send an email to podcast@highliftfin.com, and we’ll be happy to address them in future episodes.  Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial Disclaimer: All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here. High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.

    13 min

  6. 11/08/2024

    99. How ESG Principles Can Drive Value for Your Collision Repair Shop with Eddie Hightower

    To exit your business on your own terms and fund your ideal post-business life, increasing its value is essential. One powerful way to achieve this is by adopting Environmental, Social, and Governance (ESG) practices. Unfortunately, many collision shop owners are unaware of how ESG practices can significantly impact their business's value, leading to missed opportunities for growth, profitability, and a stronger market position. Join Matt DiFrancesco and Eddie Hightower, Senior Vice President of Sustainability and Social Responsibility at Caliber Collision, as they dive into how Environmental, Social, and Governance (ESG) practices can drive long-term business growth, enhance business reputation, attract valuable talent, and ultimately boost the overall value of your shop. Matt and Eddie also talk about: (03:44) The three components of sustainability (04:56) Why most shops score poorly on the ESG criteria (09:45) The importance of reputation (11:53) One of the biggest challenges in guiding shop owners in preparing for a third-party sale (15:23) What Caliber Collision looks for when buying a shop (17:03) How Caliber Collision’s Technician Apprentice Program (TAP) works (21:56) Why doing the right thing with ESG lifts the entire collision repair industry (28:28) Why shop owners should embrace sustainability practices and tell their story Connect With Eddie Hightower Website: https://www.caliber.com/services/collision LinkedIn: https://www.linkedin.com/in/eddiehightower/ Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial About the guest: Eddie Hightower, who joined Caliber in 2015, brings a diverse background spanning legal and HR leadership roles across both private and public companies.  An attorney by trade, Eddie earned his BA from the University of Denver and his JD from the University of Miami School of Law, remaining an active member of the Florida and DC bars.  His unique perspective on sustainability and social responsibility aligns with his experience in human resources—an area often overlooked by collision shop owners.  Eddie also serves as an adjunct professor at the University of Tampa and, outside of work, enjoys the gym, reading, and volunteering for Operation Kindness, a local pet rescue organization. Disclaimer: All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here. Investment advisory services from High Lift Financial are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.

    29 min

  7. 10/04/2024

    98. The Collision Industry’s Hotbed for Buyers: What’s Driving the Boom? with Laura Gay

    The collision repair industry is growing quickly, with more private equity and buyers showing interest. This creates a great opportunity for shop owners to take advantage of the booming market. However, selling a shop can be complicated, and owners who focus on increasing their shop's value and getting professional help will have the best chance to maximize their profits. Join Matt DiFrancesco and Laura Gay, Owner and Consultant at Consolidation Coach, as they discuss the rising demand for consolidation in the collision industry, the importance of professional guidance in sales to maximize returns, and their insights on what the future market may hold. Matt and Laura also talk about: (02:28) What is Collision Classifieds? (04:36) The current state of the consolidation market (07:18) The different tier classifications of buyers (10:40) Why shop owners should seek professional help when selling their shops (15:03) What shop owners need to understand about the tax implications of a sale (17:02) What C-Corporations need to prepare for (20:12) What the collision repair market will look like in 5 years (23:59) Why shops need to increase their free cash flow now (25:38) How a shop’s dependence on its owner affects its value (29:22) Why shop owners should join the Collision Cocktail Hour Connect With Laura Gay Website: https://consolidationcoach.com/ LinkedIn: https://www.linkedin.com/in/laura-gay-b5b576156/ Email:laura@consolidationcoach.com Phone: 301.399.8675 Book a consultation call: https://consolidationcoach.com/contact/ Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial Tune in to The Collision Cocktail Hour! Join Matt and Laura, along with Micki Woods, Barrett Smith, Clay Hoberecht, and Rick Selover, for the Collision Cocktail Hour, held every third Wednesday of the month at 8 PM Eastern. This open forum offers a valuable opportunity for shop owners to discuss real-world challenges and solutions with their peers, and everyone is welcome to participate! REGISTER HERE → https://collisioncocktailhour.com/ About the guest: Laura Gay, a former small MSO shop owner, was approached by aggressive consolidators to sell her shops in 2014. Feeling lost, she took time to learn about the auto body shop Mergers and Acquisitions process, realizing the importance of getting it right when selling.  In 2015, she successfully sold her shops and retired at 42. After helping friends through the selling process, she was encouraged to start a business, leading to the creation of Consolidation Coach, a leading M&A firm for shop owners today.  Outside of work, Laura enjoys drag racing, NASCAR, and spending time with her dogs, Mopsie, Oscar, Stagger, and Miss Pearl. Disclaimer: All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here. Investment advisory services from High Lift Financial are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.

    33 min

  8. 09/20/2024

    97. Automation in Action: Boosting Efficiency and Reducing Backlogs in the Collision Industry with Phillip Brown

    Many collision shop owners struggle with managing project backlogs and inefficiencies due to outdated or disjointed software systems, leading to delays, increased manual workloads, and difficulty in tracking key tasks.  These issues not only slow down operations but also prevent shops from maximizing their productivity and retaining top talent.  Join Matt DiFrancesco and Phillip Brown, Principal Consultant / President at Blu Pitt Inc., as they discuss the importance of streamlining processes and the benefits of automation in the collision industry. Matt and Phillip also talk about: (02:12) What led Phillip to help businesses streamline project management processes (04:25) How can collision shops gain better control over their workflows (04:51) What strategies can shop owners implement to save time on OEM research and ensure accurate repairs (14:43) How Blu Pitt helps businesses operate more efficiently. (18:15) What benefits do automation and streamlined processes provide for retaining top talent (21:22) How Blu Pitt helped Harley-Davidson streamline their processes (26:23) Why collision shop owners should never underestimate the power of streamlining and automating processes Connect With Phillip Brown Website: https://www.blupitt.com/home LinkedIn: https://www.linkedin.com/in/phillipjbrown/ Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial About the guest: Phillip is an experienced software engineer who has spent years working with computers and programming.  His journey began when he learned about project management software, which revealed to him that many companies relied on Excel spreadsheets and disconnected tools to manage their projects.  Recognizing the potential for improvement, he utilized his programming skills to create integrated systems that automated processes and provided a comprehensive view of project management for owners and CEOs.  This experience motivated him to start his own business, where he assists companies in refining their processes through software integration, consolidation, and sometimes transitioning to more advanced solutions. Phillip is on a mission to help 10,000 businesses perfect their project management to give them more organization, better ROI, and retain their high performers by 2033. Disclaimer: DiFrancesco Financial Concierge, LLC, d/b/a High Lift Financial, is a Pennsylvania-registered investment advisor and may conduct investment advisory services in states where it is registered, exempt, or excluded from registration. The content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed.  Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.

    31 min
See All (105)

5
out of 5
5 Ratings

About

Welcome to Your Business, Your Life with Matt DiFrancesco, your personal financial quarterback. Business owners needs are a bit different; aligning your business and family are critical to your success – We help with your unique challenges so you reach your financial goals. Your business – your life, it’s our priority at Di Francesco Virtual Family Office. Let’s get started

Information

  • Creator
    Matt Di Francesco
  • Years Active
    2021 - 2025
  • Episodes
    105
  • Rating
    Clean
  • Copyright
    © Matt Di Francesco
  • Show Website
    Your Business Your Life

To listen to explicit episodes, sign in.

Stay up to date with this show

Sign in or sign up to follow shows, save episodes, and get the latest updates.
Select a country or region

Africa, Middle East, and India

Asia Pacific

Europe

Latin America and the Caribbean

The United States and Canada