Exit Coach Bill Black interviews Top Advisors for Tips, Ideas & Precautions for Business Owners who want to grow and protect their company value and plan for a successful Business Sale or Transfer. Listen daily so you can be well-planned!
Episodes
Thursday Jun 13, 2024
Thursday Jun 13, 2024
Christine Miles is the founder and chief architect of CI Squared. CI Squared is a Leadership Development and Sales Training Company. We believe people and organizations have untapped potential, and we empower organizations and people to reach their potential through our proprietary communication framework called "The Art of the Nudge." People and organizations must continuously improve and innovate business processes and key activities. Our framework is designed to work within an organization’s current system, nudging them to pivot in an agile and adaptable way to achieve superior business outcomes; that is, increased revenue, Increased profit/reduced cost, increased employee satisfaction, increased customer satisfaction, all leading to increased shareholder value.
Monday May 27, 2024
Monday May 27, 2024
Chris Ruisi, founder and CEO of The Coach’s Zone, is an experienced business coaching professional with an exceptional record of leadership in both large and small businesses. He mentors and guides executives and business leaders to find their “stretch” point to learn the full measure of their capabilities. He helps them to “master being comfortable feeling uncomfortable.” His book “Step Up and Play Big: How to Be Exceptional in 8 Simple Steps” has received wide recognition as being a practical tool for anyone who desires to achieve more.
Monday May 20, 2024
Monday May 20, 2024
Brad Leggett is the CEO & Founder of The Leggett Group, Inc. Brad works with CEO's and VP's of sales to set the company's sales strategy and to build, lead and retain "high performance sales teams." Today, he will discuss how to develop your company's high performance sales team.
Monday May 13, 2024
Monday May 13, 2024
Barry Shamis is the President of Selecting Winners, a training and consulting firm that teaches Business Owners, Executives and Managers how to hire better employees.
3. How do I know that I'm getting good information that will help me make great hiring decisions?
Contact Info:
Website: www.selectingwinners.com
Email: barrys@selectingwinners.com
Wednesday Mar 20, 2024
Wednesday Mar 20, 2024
Don Phin is an attorney and VP at ThinkHR. ThinkHR offers online HR tools, live help and training to more than 70,000 small and medium sized businesses nationwide. Don is going to talk about The Inspired Workforce.
Wednesday Feb 14, 2024
Wednesday Feb 14, 2024
Marvin Smith is the Owner/Principle of Deliberate Synergy. Deliberate Synergy is a company that focuses on bringing innovative thinking to people, products and organizations.
Tuesday Feb 06, 2024
Tuesday Feb 06, 2024
Website: www.results.com
Email: stephen.lynch@results.com
Saturday Nov 11, 2023
Saturday Nov 11, 2023
Did you ever wonder how some teams seem to be firing on all cylinders and others are limping along? Learn from Pam Reyes, Business and Leadership Advisor with over 20 years experience leading cross-functional teams, how you can build cohesive high performance teams based on strengths to increase profitability and reduce turnover.
Sunday Jan 30, 2022
Sunday Jan 30, 2022
Morrie Shechtman is a Chairman of Fifth Wave Leadership, a company that deals the Human Capital Consulting. Today, he will discuss the topic of ending mediocrity in business.
Tuesday Nov 02, 2021
Tuesday Nov 02, 2021
There are big differences between the thought processes of generations today and they require substantial thought to developing leadership strategies. Jeremy Lurey of Plus Delta Consulting, LLC addresses the issues and solutions. Listen to his full interview tomorrow morning!
Transcript:
Bill: What are some of the upcoming challenges in leadership training? Here's Jeremy Lurey.
Jeremy: The unique challenge in our multi-generational environment is that many of the next-gen leaders, whether their generation X or even gen-Y/Millennials that are coming up, while they're eagerly waiting those chances, they don't currently have the fundamental leadership skills they need to succeed at that higher level. And while this may seem like a foreign concept for a lot of baby boomers, who had a different lifestyle, different life path in their professional careers, many of those next-gen leaders have very different life goals and ambitions. And so, they might not even accept that presumed promotion, depending on what strings are attached to it, or under what conditions it's being offered. So leadership development, and especially succession planning, is a whole new ballgame in this multi-generational work environment.
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Sunday Jul 25, 2021
Sunday Jul 25, 2021
Morrie Shechtman is a Chairman at Fifth Wave Leadership, a Human Capital Consulting Group. Today, he will discuss how to eliminate mediocrity for your company.
Saturday Mar 06, 2021
Saturday Mar 06, 2021
Marty Jacknis, President of Opportunity Maximizers, Inc., is a highly rated professional speaker, author, entrepreneur, and trainer who helps individuals and organizations gain and maintain a competitive advantage in their chosen markets and endeavors. He’s previously worked for companies like IBM and has worked among the top business leaders in the world. Marty’s life was changed when he realized he needed to figure out why what he was doing was working, and he became proactively introspective. Marty has experienced first-hand the value of identifying and seizing opportunities.
In his interview, Marty talks about self-limiting belief systems and how often you can do things just because you didn’t know they couldn’t be done. Marty also mentions a few ways to find new opportunities right away. Looking at the whole picture, rather than just one department, is also essential according to Marty. He shares various tried and true methods for improving negotiation and collaboration. The minute we slow down, our competition will catch us, listen to Marty’s interview for ways to constantly innovate and take advantage of new opportunities.
We've built a special collection of 20 minute interviews from members of Provisors and Vistage speakers. To see the directory and choose an interview visit ExitCoachRadio.com
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Tuesday Oct 06, 2020
Tuesday Oct 06, 2020
Harley Bjelland of www.TheErisaLawFirm.com is an experienced ERISA attorney. He shares some examples of Executive Compensation practices that he sees regularly that may be illegal under current IRS Section 409A and strategies to retain and reward key employees.
Wednesday Dec 11, 2019
Wednesday Dec 11, 2019
Marc Koehler is the President of Lead With Purpose a company dedicated to helping people lead more purposeful and inspiring lives.
Thursday Jul 25, 2019
Thursday Jul 25, 2019
Sam Wazan discusses the qualities necessary for someone to be successful with clients, including attitude, presence, and problem solving ability.
Sunday Jan 13, 2019
Sunday Jan 13, 2019
Larry is in the business of helping sales people and business owners grow their revenues. He wants to share with you some ideas on "How to Hire and Motivate Sales Superstars."
Thursday Jan 03, 2019
Thursday Jan 03, 2019
Contact Info:
Website: chuckblakeman.com
Email: chuck@cranksetgroup.com
Bonus Material:
Book available on Amazon
Listeners: You asked, so we found FREE solutions for 5 of your top problem areas. Text “TOOLBELT” to 44222 or click here
Friday Jan 12, 2018
Friday Jan 12, 2018
Krishna Pendyala is in the business of strengthening the weakest link in an organization. He is the founder and Chief Empowerment Officer of The ChoiceLadder Institute, which offers workshops and keynote addresses to equip people with the skills needed to exercise better judgement and make wiser choices.
Friday Sep 22, 2017
Friday Sep 22, 2017
Here's a 1 minute highlight from one of our Exit Coach Network Shows. Find the full interview at www.ExitCoachRadio.com -- just click "Exit Coach Network" in the "LISTEN" section and click on the show name to hear the full interview!
Theresa Oatman is the CEO of Stock Connections, which helps Private and Public companies to get and keep their Stock Option, Restricted Stock, and Employee Stock Ownership Plans in compliance with SEC, IRS and Financial Accounting Boards. She offers her expert advice and tips and precautions.
Transcript:
Bill: So, you want to reward your employees with stock? Well, there's a few things you ought to know, here's Theresa Oatman.
Theresa: Equity compensation is considered a benefit for the employee, and it's like at the hub of a wheel, where it touches on so many departments internally as well externally: finance, legal, payroll, the SEC, IRS, and that's not even to mention all of the international countries. In the last 10 years, other countries have figured out, "oh, there's wealth to be made, here." Now, they're all coming up with all of their rules on how to tax it, and some is taxed and grant date, some is taxed later. So, you even need to know those kind of rules before you even grant to somebody in China or the UK, every country has different rules.
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Monday Jul 17, 2017
Monday Jul 17, 2017
Laura Goodrich specializes in change and the future of work. She is going to talk about Creating an Individual and Collective Mindset for Change and Innovation in your organization.
Wednesday Jun 21, 2017
Wednesday Jun 21, 2017
There are many changes happening today that will effect the future of your business. One of the biggest changes is how the future leaders of your company view their own lives and futures. Jeremy Lurey of Plus Delta Consulting, LLC, discusses strategies to implement to develop a leadership culture and strategy for your future leaders.
We upload new content daily, so please check back often!
Work ON your business - free assessment at www.BizGrowth123.com
Saturday Jun 17, 2017
Saturday Jun 17, 2017
Ken Tucker is the Senior Partner of TAG Consulting, helping senior executives improve organizational outcomes by putting what is different about people to determined, purposeful and productive use. TAG Consulting helps leaders and teams become intentional with their difference.
1) How does your process work?
2) What examples can you give us of the benefits people are getting from your process?
3) How can people get more information or get you to present to their company?
Wednesday Jun 14, 2017
Wednesday Jun 14, 2017
Saturday May 20, 2017
Saturday May 20, 2017
The Values Institute is a non-profit "think tank" whose mission is to inspire values-driven relationship development from the boardroom to the break room, to the classroom and the family room. Today, he is going to talk about his new book, Choosing Higher Ground.
Questions Discussed:
1) Why did you write Choosing Higher Ground?
2) What will readers get out of the book?
3) What's the key message?
Contact Info:
Email: mikew@thevaluesinstitute.org
Website: www.thevaluesinsitute.org
Bonus Material:
Choosing Higher Ground Book available on Amazon
What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links
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Friday Apr 21, 2017
Friday Apr 21, 2017
Jay Forte is the President and Founder of The Greatness Zone. The Greatness Zone is a coaching and teaching organization that is committed to helping people discover and live their greatness, then inspire greatness in others.
The Greatness Zone and Fire Up Your Employees are available on Amazon
To hear more tips from over 750 Advisors, visit exitcoachradio.com
Listeners: You asked, so we found FREE solutions for 5 of your top problem areas. Text “TOOLBELT” to 44222 or click here
Wednesday Apr 12, 2017
Wednesday Apr 12, 2017
Dyanne is the President/Founder of Exit Planning Strategies, LLC, a company that works with owners of privately held businesses to develop intentional ownership transition plans. Expertise includes "internal transitions" and "key employee incentive plans", among others, to help meet the owner's transition objectives.
1. What are typical Challenges to Internal Transitions?
2. What are some of the most common strategies/techniques I see used?
3. Why do Owners Seem to Prefer an Internal Ownership Transition?
Website: www.exitplanstrategies.com
Listeners: You asked, so we found FREE solutions for 5 of your top problem areas. Text “TOOLBELT” to 44222 or click here
Thursday Apr 06, 2017
Thursday Apr 06, 2017
AMI coaches is a leadership and management development firm, led by Master Certified Coach Agnes Mura. AMI gets business leaders, C-suite executives, managers and boards to operate at the top of their game. In several languages, and founded on the latest research in leadership development, AMI provides coaching, assessments, facilitation and training across most industries, in the US, Latin America and Europe.
To hear more tips from over 750 Advisors, visit exitcoachradio.com
Listeners: You asked, so we found FREE solutions for 5 of your top problem areas. Text “TOOLBELT” to 44222 or click here
Monday Oct 10, 2016
Monday Oct 10, 2016
Here's a past highlight from one of our Guests. Find their full interview at www.ExitCoachRadio.com -- just click "Audio Library" in the "LISTEN" section and enter their name to hear all of their past interviews!
Visit ExitCoachRadio.com for Audio, Videos, Books and Interactive Tools to Grow Your Business Value, Protect Your Family and Prepare for your Future Transition.
New! Get our iPhone app at the App Store - search for Exit Coach Radio. Grow your business value by up to 71% - take a free assessment at www.BizGrowth123.com
Monday Sep 05, 2016
Monday Sep 05, 2016
A former U.S. Army Special Forces soldier and successful business executive, Jan knows the value of overcoming challenges to strengthen your resilience to lead more effectively. Jan uses the power of story to provide an overview of self-reliant leadership principles to be a more courageous, humble, and disciplined leader. Jan helps leaders become more self reliant through a confluence of Sparta’s discipline, Socrates’ self-awareness, Aristotle’s courage, Emerson’s self-reliance, and Thoreau’s reflective seclusion.
Questions Answered:
1) Tell me about your expeditions?
2) What does adversity have to do with growing leaders?
3) How does solitude inform a leader?
Contact Info:
Website: http://selfreliantleadership.com
Email: jan@selfreliantleadership.com
Bonus Material:
The Littlest Green Beret: On Self-Reliant Leadership is available on Amazon
Visit ExitCoachRadio.com for Audio, Videos, Books and Interactive Tools to Grow Your Business Value, Protect Your Family and Prepare for your Future Transition.
New! Get our iPhone app at the App Store - search for Exit Coach Radio. Grow your business value by up to 71% - take a free assessment at www.BizGrowth123.com
Thursday Sep 01, 2016
Thursday Sep 01, 2016
Visit ExitCoachRadio.com for Audio, Videos, Books and Interactive Tools to Grow Your Business Value, Protect Your Family and Prepare for your Future Transition.
New! Get our iPhone app at the App Store - search for Exit Coach Radio. Grow your business value by up to 71% - take a free assessment at www.BizGrowth123.com
Friday Aug 05, 2016
Friday Aug 05, 2016
Theresa Oatman of Stock Connections describes some of the penalties and pitfalls of Stock-Based employee benefit plans.
To hear her recent interview, enter her name in the index search bar.
We upload new content daily, so check back often!
Transcript:
Bill: So, whenever you're dealing with stock, you have a lot of partners in the mix. You have the SEC, you have the IRS, and you have financial accounting boards. If you need a good administrator on your side, here's Theresa Oatman.
Theresa: It's not a do-it-yourself project. Equity administration requires an expert to guide you through all the complexities of the ongoing programs, and especially if you're selling your company, everything needs to be up-to-date, accurate, and complete. Starting out with that good foundation is much easier to build, and remain compliant, stay out of jail, and stay out of hot water with the authorities as well as your shareholders. And for anyone who's not 100% confident that your equity programs are being managed properly and will give you the most value when you wish to sell, you need to contact an expert.
Visit ExitCoachRadio.com for Audio, Videos, Books and Interactive Tools to Grow Your Business Value, Protect Your Family and Prepare for your Future Transition.
New! Get our iPhone app at the App Store - search for Exit Coach Radio. Grow your business value by up to 71% - take a free assessment at www.BizGrowth123.com
Saturday Sep 06, 2014
Saturday Sep 06, 2014
Steve Beatty interviews Steve Buuck who shares the importance of always setting higher goals for yourself. We upload new content daily so check back often!
Saturday Sep 06, 2014
Saturday Sep 06, 2014
Bill Black interviews Mark Flenniken who shares tips, ideas and precautions in the area of having a trusted advisor. We upload new content daily so check back often!
Sunday Jul 13, 2014
Sunday Jul 13, 2014
Larry Bell always has an interesting Advanced Planning concept to bring us. In this episode he discusses a method of unwinding a Deferred Compensation Arrangement with a Tax-Deductible strategy.
We upload new content every day - please check back often!
Monday Jun 02, 2014
Saturday May 10, 2014
Saturday May 10, 2014
When we talk to business owners about the value of Exit Planning, we are talking about orchestrating a business exit that fulfills their unique financial and personal goals. Since tackling a task of this magnitude can be daunting, owners sometimes ask whether devoting the necessary time and money to this project is really worthwhile.
To answer that question, we’ve asked Kevin Short, an investment banker who works every day with owners of small and mid-sized companies, about the value of Exit Planning.
“Good exit planning can be the difference between a successful closing and a complete derailment of the sale process,” says Short.
When asked to explain, Short focuses on Steps 1, 2 and 3. “When an owner sets his objectives in an Exit Planning context (Step 1), he or she does so methodically and proactively. Owners who wait until entering the M&A arena to decide how much cash they want and need from their companies do so reactively and often are blinded by attractive bait held out by less-than scrupulous buyers.”
In Step 2 of the Exit Planning Process, owners and their advisors place a value on the owner’s company. “When an owner’s first valuation experience happens in my office, and that owner is primed and ready to sell last Friday, learning that the company is not worth what he or she had hoped is a painful experience. Even more painful is the subsequent rededication of effort to building the value of the company.”
In Short’s opinion, “The element of Exit Planning that gives an owner the biggest bang for the buck is, without a doubt, Step 3 of The Exit Planning Process (Build and Preserve Value).”
One technique that exit planners use to motivate managers to remain with a company post-closing (a vital Value Driver) is the Stay Bonus. An effective Stay Bonus accomplishes three tasks: 1) it gives the key managers a reason to stay; 2) it is structured so that it increases the value of the company, and 3) it includes a penalty (usually in the form of a covenant not to compete) that prevents key managers from taking key clients, vendors or trade secrets with them should they leave before or after the sale.
Short can rattle off far too many horror stories about owners who, believing that their loyal employees were happy and already well compensated, were held hostage by those same employees.
In one, Kevin describes an owner who was a week away from the sale of his company for $10 million. “At this very late stage of the game, the buyer met with each of the key managers to reassure them that they’d be retained by the new owners at their existing compensation levels. At its meeting with my client’s top salesperson, it was lavish in its praise about her performance and about how important her continued success was to the company’s future success. When the buyer asked her to sign a covenant not to compete before the closing date, the salesperson asked for a break and headed straight for my client’s office. She proceeded to remind my client that she’d helped build the company to its current value during her tenure, and ever-so-generously consented to wait until the closing date to collect her $1 million bonus.”
“My client paid the ransom. He understood that if the salesperson servicing his top four clients left the company, the buyer would likely scrap the deal. If the buyer did come to the closing table, it would reduce its purchase offer by far more than $1 million.”
As a result of this and many similar experiences, “We recommend that owners get very aggressive implementing Stay Bonuses with anyone who has a significant impact on a company’s performance.” Short elaborates, “The Stay Bonus should apply to anyone—and that might be the janitor—whose cousin is your biggest client—who has leverage against the company.” And, of course, tie the stay bonus to a covenant not to compete (or similar agreement), first checking with your attorney about how to best create enforceable agreements.
In Step 3, advisors also work with owners to protect business value. One method is to clean up shareholder agreements (again, well in advance of any contemplated sale or transfer). “If a shareholder agreement does not force a minority shareholder to sell when the majority shareholder does, majority owners can (and often do) find themselves unable to sell, or held hostage by minority shareholders.”
“By and large,” adds Short, “entrepreneurs ignore both Stay Bonus Plans and shareholder agreements because they believe that other shareholders or employees will ‘come along’ on closing day.” Short observes, “What owners forget is that every shareholder and every employee figures out leverage and most intend to use it.”
From these and many other examples from his practice, Short believes that Exit Planning is indeed well worth the time and money owners devote to it. If you’d like to learn how exit planning might save you time and money, please contact us.
Thursday Mar 27, 2014
Thursday Mar 27, 2014
Bill Black takes the mic for the 100th Episode of The Exit Coach Radio Show to describe common knowledge from our first 100 Advisor interviews.
We add new content daily! Listen on iTunes: iTunes.ExitcoachRadio.com . See the Index for more on this Topic or by this Guest .
Host: Bill Black, The Exit Coach Radio Show - the Information Station for age 50+ business owners.
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