Exit Coach Radio

Chris Bond of Murphy Business Financial Corp. discusses a recent business sale and the common needs of businesses to "survive" the founder to transfer successfully. Transcript:  Chris: Surviving the exit of the founder or the operators, that's the biggest key, and every client project I work on is heavily weighted toward good will, so the value is often in the name, the brand, the phone number, the web address, and a lot of what the founder or operator has built. So, it's difficult to transfer that. I've got a deal right now, a signed purchase and sale agreement, all ducks in a row, all pieces negotiated, lawyers have done their parts, the one snag is: final piece of financing for the buyer, and getting a bank to be comfortable with how heavily weighted this small publishing company is on the founder's knowledge as opposed to the books, and that's a challenge. We've got multiple banks looking at it, trying to get one of them comfortable with the buyer, who is so savvy and so talented that he's going to

David Sherak discusses some of the many provisions of a Buy-Sell agreement to consider, especially the impact on your family and Estate Planning and Banking Relationships.     

Adrianna Smith and Lana Hout, Provisors members and Brokers at First Choice Business Brokers, specialize in industry-agnostic business sales for transactions under $25M. After meeting at USC, they found themselves continuously applying for the same finance jobs and eventually working at competing firms. They briefly worked at the same firm and ultimately seized the opportunity to start their own branch of First Choice Business Brokers together 6 years ago. Together, Adrianna and Lana help business owners prepare for sales by driving up their business value. In their interview, we go in-depth about what to expect before and after a sale, as well as how to best prepare. Adrianna and Lana discuss the impact of COVID on buyers and sellers, as well as how to deal with some of the setbacks. They share powerful tips for driving up business value, common mistakes business owners make leading up to a sale, and ways you can become more attractive to buyers. Adrianna and Lana’s information will help you build a much str

Janna Hoiberg discusses tips and ideas for Family businesses. This time, we focus on challenges of preparing the business and family members for leadership transition. 

  Click here to read this episode's transcript.   Steve Goodman, CEO and Founder of SHG Planning, has over 30 years of experience in business succession planning. His firm specializes in high-end, sophisticated business succession, estate planning, for high and ultra high net worth individuals. Steve enjoys the uniquely interesting challenge that comes with helping this level of client, both technically and emotionally. Steve’s goal is to make sure nothing is overlooked in your wealth transfer.   In his interview, Steve helps humanize and demystify this daunting process. Many people think not planning is easier than planning, as it may cause turbulence within the family, however not having a plan can cause even more family discord. Steve gives a few practical examples of common mistakes made during the planning process, and how individuals may be impacted by them. He also stresses the importance of deeply understanding your unique situation so your wealth and assets can be best managed. The insight Steve off

Brian Kinahan is a business coach who helps CEOs and business owners improve business performance and prepare for an eventual sale or generational transfer. His philosophy: run your business like you're going to sell it, even if you're not.    Questions Asked:    1) Are there steps an owner can take in the short term to increase the selling price of a business?  2) Aside from being ready for the transaction process, how does financial performance affect valuation?  3) What else can an owner do to have a significant impact on the price a buyer will pay for the business?    Contact Info:    Website: www.alliance-ceo.com Email: brian@alliance-ceo.com   

Craig James shares his tips and insights about how CEOs can benefit from getting involved in Peer groups. Contact Craig at craig.james@vistagechair.com    

Scott Bornstein is a Chief Memory Training Expert at MemoryPower. Grab a notebook for this one, memory training is a universally useful skill and everyone can benefit from this information. Scott’s expertise is in making memory and recall as easy as possible for business leaders, managers, and sales people. Not only is it important to learn to remember, but to understand how to make yourself more memorable to people. Marketing is essentially memory training to get customers to remember your message. Scott shares some useful skill sets you can profit from immediately and discusses his methodology that creates consistency and results. The brain is best wired to remember stories, and Scott walks us through a few examples of this practice. Our brains don’t remember as well when they’re racing, we need to slow down and take time to form meaningful connections. Give yourself a mental boost and listen to Scott’s valuable information. Scott shares an invitation link to discounted information for ECR listeners if you’

Peter Sieffert is the Owner of Swiss Avenue Partners San Diego, a company focused on helping business owners grow enterprise value in preparation for sale, acquisition, or transition. Today, Peter will discuss why you should know the enterprise value of your business regardless of when you are thinking of an exit.    Questions Discussed:   1) Why should owners know the total enterprise value of their business today, regardless of when they plan to exit?    2) Why should a company increase their total enterprise value today?   3) Who can businesses turn to to initiate the discussion?   Contact Info:    Email Address: peter@swissavenuepartners.com   Website: www.swissavenuepartners.com    

Jim Jubelirer of Jubelirer Results Group works with business owners on scaling up their business. Being around business his whole life, Jim has seen plenty of highs and lows, but he’s always been following how business and people work. Industry agnostic, Jim works with clients globally to increase value while practicing a very holistic approach. Additionally serving as an executive coach in training programs at Duke, he’s helped countless people find small wins that lead to big momentum.  Jim talks about not just what you need to do to reach your goals, but what you need to stop doing. He discusses the main predicting characteristic of successful people and why you should create a mindset of growth and well-being in all aspects of life. Jim also shares meeting strategies that improve team performance, including what he calls a “Daily Huddle.” Everyone wants to be on a winning team, help improve yours by listening to Jim’s vital information.  

Banish Your 5 Time Demons! How to get 2 hours back in your day, everyday! How would it feel to have more hours in your day? What if there was a way NOT to get lost in the vortex of your busy life? It is possible to add more time to your day and get more done? Join Leslie Hassler with Your Biz Rules ™ for this powerful, tip-packed class where she will explain how women entrepreneurs can expand time and turn minutes to moments, creating tangible results and predictable success. Questions Answered: 1) Why do entrepreneurs struggle with time management? 2) How do women and men struggle with time management differently? 3) How does a shift in time management change a business? Contact info: Email Address: leslie@yourbizrules.com Website: www.yourbizrules.com                

BizEquity's Valuation as a Service (VaaS)TM system was created to democratize business valuation knowledge for all business owners and the advisors who serve them. Our vision is to value every private business in the world and to make business valuation affordable, accessible, and real-time, thus ushering in the next great cloud based software andBig Data company for Small Business. Questions Answered:  1. Why did you start BizEquity? 2. Why is BizEquity important to an advisor?  3. Where is BizEquity in 10 years?  Contact Info:  Website: bizequity.com Email: brent@bizequity.com      

To Read This Episode's Transcript: Click Here Back with us once again is Vince Mastrovito, Exit Planner at Prometis Partners. Vince is a serious succession planner: he’s a certified business exit consultant, CBEC, a certified exit planning advisor, CEPA, a certified value builder, CVB, a certified disc plus coach CDVC, and 2019 Member of the Year at the Exit Planner Institute. Vince is very well-versed in this area and brings enthusiasm to finding creative solutions for each of his clients. He’s seen people, for one reason or another, stay in their business far too long.  In his interview, Vince discusses a variety of reasons someone may stay at the helm of their business longer than they should. He discusses some of the things that may sneak up on the business owner if they aren’t diligent enough and decrease the business value when they do decide to exit. The retirement you dream of depends on careful planning that starts early. Vince also helps people find their passions again in order to help them contin

Stephen Lynch is the Head of Strategy and Consulting at RESULTS.com and the author of the award-winning book: Business Execution for RESULTS - a practical guide for leaders of small to mid sized firms. His book was judged best management book in the USA’s 2014 Small Business Book Awards. Stephen has had articles published in The Economist, and writes a weekly email newsletter that has over 40,000 business leader subscribers around the globe. His company RESULTS.com provides management dashboard software to help you to engage your employees - and achieve your company goals faster. The software helps companies to track KPIs, Projects, Tasks and run more effective meetings to drive better results Questions Answered:  1. What are the main ingredients that go into creating a compelling company vision? 2. How do you engage employees to want to give more than the bare minimum? 3. What is the key to creating an enduring company culture - one that can outlive the owner’s involvement? Contact Info:  Webs

  John "Murph" Murphy, founder of JK Murphy Advisors, specializes in helping business owners be prepared for all kinds of circumstances leading up the sale of a business. So what should an owner have prepared to discuss in case a serious buyer calls? Listen in to find out.    

            Peter Mehit is the COO of Custom Business Planning and Solutions. Today, he will discuss the most important times to have a business plan.  Questions Answered:  1) What are the three times you need a business plan? 2) Why is it important to focus on your exit early? 3) What can people do if they are nearing the time they want to get out of their business and they haven't planned?  Contact Info:  Website: www.custombps.com Email: pmehit@custombps.com    

Addison Adams of Adams Corporate Law, LLP discusses considerations for business owners who are planning to borrow, sell or go public.    

              Scott Hunter, President of Unshackled Leadership, helps leaders reach a mindset of success and helps improve communication within the workplace. Originally starting as an engineer studying law, eventually Scott was working as an IP lawyer but couldn’t keep a secretary and lost his wife. He knew something had to change, so he became devoted to learning all he possibly could about improving his communication and life skills. In an effort to turn full-time learning into a viable career, he founded his coaching company, Unshackled Leadership.  In his interview, Scott shares extremely valuable tips for more effective communication. When communicating, we all want to be acknowledged, appreciated, heard, and known, so the most important component of effective communication is being an empowering listener. Scott talks about the importance of turning off your own internal voice, and giving people your undivided attention. To Scott, success is based on having a group of happy, excited people working towa

Chris Kramer, Managing Director, Strategic Equity Group discusses the decisions and strategies that go into an exit plan and the critical importance of preparing well in advance to have the best options.  

Kevin Weir, Action Coach, discusses a common problem of many small businesses - lack of processes and systems that make it hard to transition the business. Transcript:  Kevin: When you're trying to sell a business, it's a lot harder to sell a business if it isn't a turn-key operation. If somebody wants to walk in and buy a business and all the systems are sitting in the owner's head, that potential buyer is going to place a discount on that business, because most people who are investing in business aren't going to want to just purely operate it on an ongoing basis. A lot of people who are wanting to buy a business want to be able to have some level of ability to let it operate buy itself. The less systems you have in the business, the bigger the discount. So, what we do, is we help them develop and systematize the business such that it can work without them, because our definition of a business is a commercial, profitable enterprise that works without you, the business owner. To the degree it fits that defi