Nabity on Business

Everyone brings in the lawyers. Everyone brings in the CPAs. They work through the valuation, the installment buyout strategy, the tax structure — and then they completely gloss over the thing that's most likely to blow the whole plan up.In this episode, I'm talking about the soft stuff. The people dynamics, the family tension, the kids who feel obligated but don't really want to run the company, the ones who are chemically addicted and still on the payroll, the entitlement issues, and the management teams quietly deciding they won't stick around once the founder is gone.These aren't edge cases. I see them constantly in the family-run businesses we work with.I also get into what parents need to actually do before they sit down to build an estate plan — how to assess whether your kids are truly fitted for leadership, how to treat active and non-active children fairly, and why the founder's own ego and reluctance to exit can be just as destructive as anything the kids do.If you own a family business and you're thinking about succession, watch this before you make any other move.Key takeaways:The soft issues will sink your succession plan faster than any legal or tax mistake. Family drama, entitled kids, chemical addiction, sibling rivalry — the lawyers and CPAs aren't equipped to handle any of that. And glossing over it while you build documents is a guaranteed path to disaster.The game completely changes when the founder is gone. People who played nice, acted like team players, and kept the peace did it because of the founder's presence. Once that's gone, old loyalties evaporate and conflicts that were suppressed for years come out fast and hard.Management retention is a make-or-break factor that most families never discuss. The key people who helped build the company followed the founder — they didn't sign up to work for the founder's kids. If those people walk, the business value walks with them.Fairness to non-active children has to be planned for deliberately. A strong balance sheet in the business will make non-active heirs push to sell. Parents can get ahead of this by directing other assets — and life insurance — toward non-active children so active ones can keep running the company without a forced sale looming over them.Founders who wait too long to exit create as much damage as any family conflict. If you haven't prepared people to lead behind you, your absence becomes a crisis. Getting after your succession plan before 75, while you still have the energy and clarity to do it right, is one of the most important decisions you'll make for your family and your legacy.Connect with us:Dave Nabity on FacebookDave Nabity on LinkedInNabity Business AdvisorsAt Nabity Business Advisors, we help business owners handle the “big picture” issues so they can stay focused on building for the future. Learn more at Nabity.com.

If your family operates a farm and the next generation wants to stay in the business while non-farming siblings see the land’s value and potential windfalls, this episode is essential. Dave walks through a practical, step-by-step approach to aligning family priorities, building a sustainable economic model for the operation, and designing a succession plan that preserves the farm across generations without tearing the family apart.You’ll learn:How to map out the family dynamic and understand what each member values beyond moneyHow to build a transparent, data-driven financial model that shows gross profit, cash flow, and the impact of different rent and price scenariosMethods for balancing farming commitment with fair treatment of non-farming heirsEstate planning tools that protect liquidity and minimize unnecessary land salesTiming and practical steps to start planning now, so you maintain options and avoid costly decisions laterBy the end of this episode, you’ll have a practical blueprint you can adapt to your family’s unique history and goals, plus actionable steps to begin conversations, create consensus, and implement a plan that keeps the legacy alive—without sacrificing family harmony.Connect with us:Dave Nabity on FacebookDave Nabity on LinkedInNabity Business AdvisorsAt Nabity Business Advisors, we help business owners handle the “big picture” issues so they can stay focused on building for the future. Learn more at Nabity.com.

What does it actually cost to feed the world and who is bearing that risk?Most people drive past fields without a second thought. But behind every pivot irrigator and tractor cab is a business owner managing millions in equipment debt, unpredictable weather, volatile commodity markets, and a global supply chain that makes American farmers their own worst competitors.In this episode, Dave sits down with Cale Carlson, a fourth generation irrigated farmer from central Nebraska, to pull back the curtain on modern agriculture. Cale breaks down the real economics of farming, from the $100,000 price tag on a single irrigation pivot to the brutal reality that only two out of ten years are genuinely profitable. He shares how technology, soil stewardship, and smart risk management keep the operation alive, and why South American competition is quietly reshaping American agriculture.But this conversation goes beyond business. Cale opens up about the emotional weight of farming alone, the family tensions that arise when farm assets get passed down unevenly, and the faith and family relationships that keep him anchored when the numbers do not add up. If you have ever wondered what it takes financially, physically, and spiritually to keep a century old family farm running, this episode is for you.Key takeaways:Equipment costs run into the millions, and only 2 out of 10 farming years are truly prosperous while 2 out of 10 are financially devastating.American farmers face stiff global competition, particularly from Brazil and Argentina, which have lower costs, fewer regulations, and more land to expand.Soil health and responsible chemical use are top priorities for serious farmers because the land has to last for future generations.Family farm succession planning is critical, and unresolved estate plans are one of the most common sources of family conflict after a parent's death.Strong support systems including family, faith, and community are essential for managing the psychological stress of farming.Social media has become a valuable tool for farmers to share market information, connect with peers worldwide, and even build additional income streams.Connect with us:Cale Carlson on LinkedInDave Nabity on FacebookDave Nabity on LinkedInNabity Business AdvisorsAt Nabity Business Advisors, we help business owners handle the “big picture” issues so they can stay focused on building for the future. Learn more at Nabity.com.

What do you do when your best people help build the company… but the shares stay in the family?Every successful family business runs into this tension at some point. Your leadership team drives growth, carries responsibility, and attracts attention from competitors. They deserve a path to build wealth alongside the company. At the same time, handing out equity can fracture ownership or complicate succession.That tension led to one of the more clever tools in executive compensation: phantom stock.In this episode, Dave walks through how phantom stock plans allow key employees to participate in the growth of a company without receiving actual shares. The structure mirrors the value of the business, ties rewards to performance, and creates a long-term incentive for leaders to stay and help build something bigger.Key takeaways:• Phantom stock rewards key leaders without giving up ownership.• Phantom shares track the company’s value.• Payouts happen at retirement, sale, or other liquidity events.• Performance benchmarks can determine share awards.• Planning helps manage the future payout liability.Connect with us:Dave Nabity on FacebookDave Nabity on LinkedInNabity Business AdvisorsAt Nabity Business Advisors, we help business owners handle the “big picture” issues so they can stay focused on building for the future. Learn more at Nabity.com.

You can build a serious company, stack real wealth, and still get tripped up by basic legal structure.Dave sits down with Zach Petersen of Dvorak Law Group to walk through the mistakes they keep seeing in high-net-worth estate plans. Rental properties with no LLC protection. Revocable trusts that were never funded. Valuations that won’t survive an audit. Gifting strategies that quietly invite a 40 percent estate tax problem.If you own a business and your estate is north of eight figures, this conversation hits close to home.Key takeaways:A trust that isn’t funded still sends your family through probate.An LLC only protects you if you actually operate like an LLC.A weak valuation invites a very strong IRS response.An intentionally defective grantor trust can reduce your estate year after year when structured correctly.The way you pass wealth shapes the character of the next generation.Connect with us:Zach Petersen on LinkedInDave Nabity on FacebookDave Nabity on LinkedInNabity Business AdvisorsAt Nabity Business Advisors, we help business owners handle the “big picture” issues so they can stay focused on building for the future. Learn more at Nabity.com.

Running a family business comes with pride, pressure, and a whole lot of emotion. When parents try to show love by treating every child the same inside the company, the results can stack up into resentment, dysfunction, and eventually full-blown family fallout.In this episode, Dave walks through a painfully familiar scenario using a fictional family business and shows how good intentions around fairness, payroll, and ownership can unravel everything once mom and dad step away. The lesson is simple but uncomfortable: business fundamentals have to come first, or the legacy you worked decades to build won’t survive the next generation.Key takeaways:Why equal ownership often creates unequal outcomesThe hidden resentment that builds when compensation isn’t tied to performanceHow non-working owners can pressure a business into sellingThe damage entitlement does to culture, morale, and family relationshipsClear rules for who should work in the business and who shouldn’tPractical ways to fix the structure when it’s already gone sidewaysConnect with us:Dave Nabity on FacebookDave Nabity on LinkedInNabity Business AdvisorsAt Nabity Business Advisors, we help business owners handle the “big picture” issues so they can stay focused on building for the future. Learn more at Nabity.com.

When a founder steps away from a family business, the real question usually isn’t who takes over. It’s whether the buyout itself can carry everyone where they need to go. Retirement income, company cash flow, taxes, and human behavior all start pulling on the same rope, and if the math is off, someone feels it fast. Usually the kids. Sometimes the parents. Occasionally both.In this episode, Dave Nabity walks through the mechanics behind a family business buyout and why “good intentions” don’t survive bad modeling. From valuation decisions to installment payments and catastrophe planning, this is a practical chalk talk on how to structure a transition that supports the seller’s retirement without putting the next generation in a financial chokehold.Key topics coveredHow valuation decisions shape everything that followsBalancing seller retirement needs with buyer cash flow realityStock sales vs. asset sales and the tax tradeoffs on both sidesModeling pre- and post-sale cash flow before anything gets signedWhy many retirements fall off a cliff around year elevenProtecting the plan with leadership readiness and catastrophe planningConnect with us:Dave Nabity on FacebookDave Nabity on LinkedInNabity Business AdvisorsAt Nabity Business Advisors, we help business owners handle the “big picture” issues so they can stay focused on building for the future. Learn more at Nabity.com.

Doug Morris is a CPA who lives in the weeds so you don’t have to, and he joins Dave to talk through the “One Big Beautiful Bill” in plain English, with the kind of examples business owners actually care about. They get into what stayed in place from the Tax Cuts and Jobs Act, why the estate tax exemption jumping to $15M per spouse changes planning conversations, and how quickly things can get expensive when a business makes up most of the estate.Key takeaways:Estate tax exemption changes and planning implicationsWhat business owners should know about the One Big Beautiful BillBonus depreciation and how it affects cash flow decisionsSelling a business: stock deals vs asset dealsCapital gains considerations at the federal and state levelWhere tax strategy quietly breaks down in succession planningConnect with us:Douglas Morris on LinkedInMcFarlin and BrokkeDave Nabity on FacebookDave Nabity on LinkedInNabity Business AdvisorsAt Nabity Business Advisors, we help business owners handle the “big picture” issues so they can stay focused on building for the future. Learn more at Nabity.com.

Some meetings remind you that true collaboration isn’t a myth after all, and then others make you wonder how certain professionals keep their licenses. Dave walks through both extremes in this episode, pulling back the curtain on what actually happens when CPAs, attorneys, advisors, and insurance agents gather around the table. From the rare moments when everyone shows up prepared and humble, to the far more common scenes where egos, sales pitches, and unread documents derail the entire plan, this episode shows you what a healthy advisory team looks like and how to spot a dysfunctional one before it costs your family time and money.Key takeaways:What a truly collaborative advisory meeting looks and feels likeHow CPAs, attorneys, and advisors each contribute to strong planningWhy unread prep work is a massive red flagThe dangers of advisors who see collaboration as competitionWhen insurance agents push products instead of planningWhy “family office” often translates to “sell everything to everyone”How to build a team that gives you clear, decision-ready management informationConnect with us:Dave Nabity on FacebookDave Nabity on LinkedInNabity Business AdvisorsAt Nabity Business Advisors, we help business owners handle the “big picture” issues so they can stay focused on building for the future. Learn more at Nabity.com.

Parents want their children to thrive, especially inside the family business, but sometimes the role they hope their child will grow into doesn’t match who that child actually is. In this episode, Dave shares the patterns he sees when families try to force the wrong fit, and how quickly that can strain both the company and the relationships that hold it together. He walks through temperament, wiring, strengths, and the stories behind tough decisions parents often face, all with a tone that keeps things grounded and human.Key TopicsWhy parents often place children in roles that don’t match their wiringHow DISC profiles reveal natural strengths and blind spotsThe danger of assigning CEO responsibilities to a support-oriented childWhat unequal skill sets mean for future equity decisionsWays to treat kids fairly without harming the businessHow outside guidance protects long-term family unityConnect with us:Dave Nabity on FacebookDave Nabity on LinkedInNabity Business AdvisorsAt Nabity Business Advisors, we help business owners handle the “big picture” issues so they can stay focused on building for the future. Learn more at Nabity.com.

Business owners reach a moment where paying someone else’s rent stops making sense and owning starts to look like a path to long-term wealth. Dave sits down with his son, Graham Nabity from CBRE, for a grounded, no-nonsense conversation about how business owners should think about buying, leasing, building, or expanding their space. They get into what the market looks like today, why industrial vacancies are basically nonexistent, and the factors that determine whether a purchase becomes an asset or a headache.Key takeaways:When business owners should shift from leasing to owningHow SBA loans actually workThe industrial space shortage and zoning limitationsWhat makes Class A vs Class B office properties differentHow lease renewals can make or break your occupancyUsing real estate ownership as part of a retirement planDepreciation, appreciation, and the tax perks of owningWhat to consider before buying land or building newConnect with us:Graham Nabity on LinkedInCBREDave Nabity on FacebookDave Nabity on LinkedInNabity Business AdvisorsAt Nabity Business Advisors, we help business owners handle the “big picture” issues so they can stay focused on building for the future. Learn more at Nabity.com.

Every owner has that one thing that keeps poking at them. Sometimes it’s the business. Sometimes it’s the people. Sometimes it’s the “I’m-trying-to-sleep-but-my-brain-won’t-get-quiet”.In this episode of Nabity on Business, Dave pulls out the itch list he’s seen across decades of helping owners plan their exits, calm the drama, and get their companies aligned for the next chapter. If you’re wondering how to sell, who to sell to, how to value the thing you built, how to deal with your kids fighting over stock, or how to keep your management team from evaporating… this is the episode you need.It’s practical, yes, but it’s also a reminder that none of this is simple, and you don’t have to solve it alone.Key takeaways:• Selling a business takes real strategy, not guesswork• Passing a company to kids or managers gets messy fast without a plan• Valuation formulas and buy–sell agreements keep partners aligned• Family dynamics and taxes shape every succession decision• Diversifying protects your future beyond the businessConnect with us:Dave Nabity on FacebookDave Nabity on LinkedInNabity Business AdvisorsAt Nabity Business Advisors, we help business owners handle the “big picture” issues so they can stay focused on building for the future. Learn more at Nabity.com.

Before you call your attorney or start drafting trusts, there’s one crucial question to answer: “What’s the right order to plan your company’s future?”In this episode, Dave breaks down why every business owner should start with succession planning, not estate planning or management incentives. He explains how the structure of your succession plan sets the foundation for gifting, taxes, family fairness, and how to protect your company’s cash flow through the transition.Key topics:Succession planning must come firstGifting and trust strategies depend on your succession structureRetain and reward your management team after transitionBalance fairness between family members in and out of the businessConnect with us:Dave Nabity on FacebookDave Nabity on LinkedInNabity Business AdvisorsAt Nabity Business Advisors, we help business owners handle the “big picture” issues so they can stay focused on building for the future. Learn more at Nabity.com.

When you’ve spent decades building a business, it becomes the cow that feeds everything else. But what happens when the IRS shows up, and estate taxes threaten to take 40% of what you’ve built?In this episode, Dave breaks down how to protect your family business from being sold off to pay estate taxes, using one of his trademark analogies: the cow, the milk, and the rat hole.With a few bad dad jokes and a practical approach, Dave explains how life insurance trusts and informal underwriting can help families preserve what really matters, while keeping the business alive for the next generation.In this episode:Why your business is the “cow” that keeps generating income for your familyHow estate taxes can force a sale if you don’t plan aheadThe role of life insurance trusts in protecting your business and heirsHow informal underwriting helps you get better life insurance offersWhy selling the business to pay taxes is often the worst financial moveConnect with us:Dave Nabity on FacebookDave Nabity on LinkedInNabity Business AdvisorsAt Nabity Business Advisors, we help business owners handle the “big picture” issues so they can stay focused on building for the future. Learn more at Nabity.com.

What should a business owner do with the money sitting on the balance sheet—or the proceeds after selling the company? That’s what Dave Nabity discusses with his longtime business partner, Randy Jensen of Nabity-Jensen Investment Management.They talk through how to keep corporate cash working without taking unnecessary risks, what to consider when building bond ladders, and how ESOPs can help owners transition while rewarding employees. From timing and taxes to diversification and discipline, it’s a grounded look at how to make smart financial moves in every stage of ownership.Key Takeaways:How to decide when and where to invest business cashUsing bond ladders to balance yield and accessWhen municipal bonds make sense for S-corps and LLCsStrategies for managing a payout after selling the businessWhy diversification protects both freedom and legacyConnect with us:Randy Jensen on LinkedInNabity-JensenDave Nabity on FacebookDave Nabity on LinkedInNabity Business AdvisorsAt Nabity Business Advisors, we help business owners handle the “big picture” issues so they can stay focused on building for the future. Learn more at Nabity.com.

What’s your business really worth? That’s the question Dave Nabity explores with Gregory Harr, CPA, Accredited Business Valuator, and Certified Exit Planning Advisor. The conversation gets into how buyers actually judge value, why family dynamics complicate transitions, and the financial planning steps that can protect both the company and the legacy behind it.Gregory brings years of experience helping owners prepare for sales and successions. He shares why waiting for a health scare or life event often means selling at a discount, how to think about cash flow versus EBITDA, and what parents should consider before handing the reins to the next generation.Key takeaways:Why waiting too long to sell can cost millionsThe difference between EBITDA and true net cash flowHow multiples, cap rates, and risk drive valueEstate planning strategies for gifting, taxes, and legacy goalsPreparing kids, balancing siblings, and keeping key managers on boardConnect with us:Gregory Harr on LinkedInO'Donnell, Ficenec, Wills & Ferdig, LLPDave Nabity on FacebookDave Nabity on LinkedInNabity Business AdvisorsAt Nabity Business Advisors, we help business owners handle the “big picture” issues so they can stay focused on building for the future. Learn more at Nabity.com.

Every business owner wants to see more profit, but the real problems aren’t always obvious. Dave Nabity and Andy Wolfe share what they’ve seen inside family-run companies, from messy systems and siloed departments to the wrong people stuck in the wrong jobs. When you strip away the excuses and look at what’s really happening, that’s when the path forward gets clear.For family businesses, profit has everything to do with whether the next generation can keep things going. When Gen 2 is stepping in — and taking on the responsibility of buying out mom and dad — the company has to be strong enough to support that transition. Dave and Andy talk about what it takes to build those systems, keep profitability steady, and give the next generation a fair chance to succeed.Key takeaways:Problems show up in the numbers, but they start with people and processesFamily businesses can’t survive if everything lives in dad’s headIncentives only work when everyone is tied to gross profitSmooth succession depends on strong systems and steady profitabilityConnect with us:Andy Wolfe on LinkedInDave Nabity on FacebookDave Nabity on LinkedInNabity Business AdvisorsAt Nabity Business Advisors, we help business owners handle the “big picture” issues so they can stay focused on building for the future. Learn more at Nabity.com.

Passing a company down to your kids can be one of the most rewarding—and most dangerous—decisions you make. In this episode, Dave Nabity walks through the tough questions every family business needs to face. Who’s truly earned the right to lead? What standards are parents holding their kids to? Are the next leaders respected inside and outside the company?Dave shares the tools and conversations he uses with families to cut through entitlement and get to the heart of succession. The goal isn’t just a smooth handoff of ownership. It’s building a future where the company thrives and the family still wants to sit around the same dinner table.Key Takeaways:Honest assessments set the foundation for a healthy transitionLeadership in a family business must be earned, not assumedExternal work experience builds discipline and credibilityQuestionnaires reveal blind spots for both parents and kidsProtecting the family bond is just as important as protecting the businessConnect with Dave:Dave Nabity on FacebookDave Nabity on LinkedInNabity Business AdvisorsAt Nabity Business Advisors, we help business owners handle the “big picture” issues so they can stay focused on building for the future. Learn more at Nabity.com.

If you have built a great business, you probably have even greater people working with you, and competitors might want to steal them right away. It’s what it takes to employ talented folks.In this episode of Nabity on Business, Dave breaks down four strategies for executive retention that give your A-team real incentives to think twice before jumping ship. Here’s a spoiler: it’s not all about money.Key takeaways:Salaries are not enough to keep your best managers aroundPhantom stocks are the golden handcuffsCompetitors might have a better plan than youReward performance is fuel for retaining the best playersConnect with Dave:Dave Nabity on LinkedInNabity Business AdvisorsAt Nabity Business Advisors, we help business owners handle the “big picture” issues so they can stay focused on building for the future. Learn more at Nabity.com.

Welcome to one of the few estate planning talks that’s not going to put you to sleep.  In this episode of Nabity on Business, Dave is again jumping into the chaos of family-run businesses, but this time with a focus on estate planning and how it can add even more fuel to the fire. Spoiler alert: it’s way more than paperwork and asset splits.You’ll hear about how passing your business to the wrong person can be the end of what you have built, and why a spoiled kid, who remotes into work while backpacking through Europe, shouldn’t inherit your company. If you are a business owner who cares about your legacy (even more than your assets), this episode is for you. Get ready!Key takeaways:Estate planning without a succession plan is no plan at all“Equal” might be the worst way to split the companyWhen your kid shouldn’t be next in lineWhat stewardship means when you’re not aroundConnect with Dave:Dave Nabity on LinkedInNabity Business AdvisorsAt Nabity Business Advisors, we help business owners handle the “big picture” issues so they can stay focused on building for the future. Learn more at Nabity.com.

Some parents see potential, but most of them see what they want to see.On this episode of Nabity on Business, Dave Nabity talks with Kim Hoogeveen, founder of BetterCulture, about what really matters when you're handing over your business—especially when family is involved. They get into how to spot whether your team (or your kids) are actually ready for leadership, and why too many business owners wait too long to make the hard calls.A conversation that’s not about theory, but about what happens when loyalty clouds judgment, and culture gets treated like an afterthought. If you’re serious about your legacy, this one’s worth a listen.Key takeaways:Why the best culture work starts with your frontline supervisorsWhat happens when you promote a kid who's just not ready.The biggest red flag your executive team might be waving without saying a wordHow self-awareness makes or breaks a succession planConnect with Dave:Dr. Kim Hoogeveen on LinkedInBetterCulture websiteDave Nabity on FacebookDave Nabity on LinkedInNabity Business AdvisorsAt Nabity Business Advisors, we help business owners handle the “big picture” issues so they can stay focused on building for the future. Learn more at Nabity.com.

Dave takes us to the heart of what it really means to be an entrepreneur on this episode of Nabity on Business. He asks tough questions, like why you’re doing what you are doing, and if you have a purpose for it beyond profit.Dave opens up about emotional battles, spiritual journeys, and psychological challenges: they’re all part of being an entrepreneur, including the difficult job of finding balance between work and family.Key takeaways:Entrepreneurship is more than money and profit-huntingBusiness owners have a social impact on their communitiesNo business success is worth a broken homeConnect with Dave:Dave Nabity on FacebookDave Nabity on LinkedInNabity Business AdvisorsAt Nabity Business Advisors, we help business owners handle the “big picture” issues so they can stay focused on building for the future. Learn more at Nabity.com.

Family feuds, trouble cousins, and boot camps. All these things in one podcast wouldn’t make sense, unless Dave Nabity is the host! In this first episode, he sets the tone for Nabity on Business, where he gets personal about helping business owners, whether they’re still running the business or looking to set up a succession plan.Dave is honest about what professional advisors don’t usually mention on their sales pitch: the chaos, the tensions, and the elephant in the room (most likely a family member with a trust fund and zero business skills).Key takeaways:Navigating conflict before starting the transitionThe key role of advisors during a transitionWhat to expect in this upcoming seasonGet comfy and let the show begin!Connect with Dave:Dave Nabity on LinkedInDave Nabity on FacebookNabity Business AdvisorsAt Nabity Business Advisors, we help business owners handle the “big picture” issues so they can stay focused on building for the future. Learn more at Nabity.com.