Challenges and opportunities in oil and gas with Teresa Posada: from business start-up to retirement
In this episode, Glenn Torres converses with Teresa Posada about her journey in the oil and gas industry, starting her first business, and her transition into retirement. They delve into the importance of financial order and audits, the 1031 exchange, the value of business coaching, and the concept of authenticity and 10X in business.
Key Points
- Theresa Posada emphasizes the advantages of acquiring an existing business over starting from scratch due to established revenue and customer base, but recommends having a business coach for guidance if one lacks experience.
- When preparing for business exit and retirement, it's crucial to consider tax implications, financial management, and legacy planning to maximize benefits and ensure a smooth transition.
- Being authentic and true to oneself is vital in business, as it contributes to success and personal fulfillment, while also highlighting the importance of learning from mistakes rather than regretting them.
Teresa’s Profile linkedin.com/in/teresa-posada-63509a66 Websites dingconsulting.com (Company) timmassociates.com (Company)
Teresa Posada is a Commercial Real Estate Advisor and Business Broker with over 10 years of experience in creating, owning, and operating startups in various sectors. She is currently working with eXp Commercial, a global leader in commercial real estate, and Ding Consulting, her own firm that helps business owners prepare their businesses for sale and smoothly transition into retirement.
Teresa is passionate about providing tailored solutions that meet the needs and goals of each client, and ensuring a seamless and satisfying process. She values integrity, trust, and collaboration, and she brings diverse perspectives and experiences to her work, having owned and managed multiple businesses in different sectors. She specializes in assisting business owners in evaluating the market value of their enterprises, leveraging a comprehensive understanding of market trends, financial analyses, and industry dynamics. She also has skills in retail management, company operations, and new business development, which she used to grow her previous ventures in real estate, oil and gas, and safety apparel.
Chapters
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Transcript
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