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 Sep 04, 2014
Thursday Sep 04, 2014
Steve Beatty interviews Patrice Sebastian who shares tips, ideas and strategies to help you form a valuable exit strategy. We upload new content daily so check back often!
Thursday Sep 04, 2014
Thursday Sep 04, 2014
Bill Black interviews Mark Dorman who shares tips, ideas and precautions in the areas of exit planning and business continuity. We upload new content daily so check back often!
Thursday Aug 28, 2014
Thursday Aug 28, 2014
Bill Black interviews Rhett Power who shares tips, ideas and expertise in the realm of founding a business with an exit plan in mind. We upload new content daily so check back often!
Saturday Aug 23, 2014
Saturday Aug 23, 2014
Steve Beatty interviews Bob Anderson who shares tips and ideas for founders and their specific needs during liquidity. We upload new content daily so check back often!
Saturday Aug 23, 2014
Saturday Aug 23, 2014
Bill Black interviews Don Burzen who shares tips, ideas and precautions to help business owners and their families leave their business, while enhancing and protecting the value of the business in the aftermath. We upload new content daily so check back often!
Wednesday Aug 20, 2014
Wednesday Aug 20, 2014
Steve Beatty interviews Christopher Snider, the President and CEO of the Exit Planning Institute, for his expert perspectives on the future of business in America and the importance of Exit planning to sustain jobs and our economy.
Wednesday Jul 23, 2014
Wednesday Jul 23, 2014
Peter Christman of The Christman Group started Exit Planning as a way to help business owners get better sale prices back before hardly anyone else was thinking about it. He also co-founded the Exit Planning Institute. Here he talks about the need for a solid plan for Business Owners.
Sunday Jul 06, 2014
Sunday Jul 06, 2014
Steve Beatty is the Founder of www.FinancialSolutions4business.com and the Author of The Ultimate Business Owner Plan, a book about best practices and your planning. He is also the host of "The Ultimate Business Owner Radio Show" which will debut in mid July.
We upload new content every day. Check back often!
Wednesday Jul 02, 2014
Wednesday Jul 02, 2014
Chris Bond of Murphy Business discusses some of the problems that business owners encounter when selling their business and tips to avoid them.
We upload new content daily so please check back often!
Friday Jun 20, 2014
Friday Jun 20, 2014
Patty DeDominic is a dynamic force in the world of business. She has been named CEO of the Year by the LA Business Journal, is the former Chairperson of the Foundation for SCORE and is the former Chairperson of the National Association of Women Business Owners. She is now helping business owners through her affiliation with MauiMastermind.com, a collaborative organization that helps business owners get "un-Stuck from the Self-Employment Trap" (tm).
Patty discusses how Maui Mastermind helps business owners excel and announces an upcoming workshop in Irvine, CA June 28 and 29. For information about the workshop and Maui Mastermind, visit www.MauiMastermind.com
Patti DeDominic with Maria Contreras-Sweet, Administrator of the SBA
Thursday Jun 12, 2014
Thursday Jun 12, 2014
Dan Whittaker of www.WhittakerCoCPAs.com discusses a scenario whereby, in the near future, many of your competitors will be for sale. Assuming you also will be selling your business, what should you do now to prepare to stand out from your competitors?
We upload new content daily, so check back often!
Friday Jun 06, 2014
Friday Jun 06, 2014
Chris Kramer, Managing Director, Strategic Equity Group discusses common exit paths for business owners.
We add new content daily, so come back often!
Monday Jun 02, 2014
Saturday May 24, 2014
Saturday May 24, 2014
Eight Ways to Exit Your Company<?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" />
By Bill Black
According to Paul Simon, there are 50 ways to leave a lover. Not being as creative as Mr. Simon, we’ve only come up with eight ways for owners to leave their companies:
Transfer the company to a family member; Sell the business toRead the rest of this entry »
Friday May 16, 2014
Friday May 16, 2014
Ace Chapman, Ace Chapman Business Acquisitions Consultant, discusses the important factors that he looks for when buying a business - your marketing "funnel" and SOP (Standard Operating Procedures) Manual are at the top of the list.
We add new content daily! Listen on iTunes: iTunes.ExitcoachRadio.com .
Tuesday May 13, 2014
Tuesday May 13, 2014
Jim Brubaker, discusses the need to know your Financial Target when your start your Exit Plan.
We add new content daily! Listen on iTunes: iTunes.ExitcoachRadio.com . See the Index for more on this Topic or by this Guest .
Monday May 12, 2014
Monday May 12, 2014
In this 1 minute highlight, Mark Dorman, President & Founder of Dorman Legacy Advisors, discusses the importance of having a strong Business Continuity plan just in case things go awry on the way to your planned exit.
We add new content daily, so come back often!
Sunday May 11, 2014
Sunday May 11, 2014
Jim Brubaker, discusses the need for a strong back-up plan when exit planning.
We add new content daily! Listen on iTunes: iTunes.ExitcoachRadio.com . See the Index for more on this Topic or by this Guest .
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.
Friday May 09, 2014
Friday May 09, 2014
Ace Chapman, Ace Chapman Business Acquisitions Consultant, discusses what every seller should know about what a buyer is looking for.
We add new content daily! Listen on iTunes: iTunes.ExitcoachRadio.com . See the Index for more on this Topic or by this Guest .
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Thursday May 08, 2014
Thursday May 08, 2014
Jean Setzfand is Vice President of Financial Security at AARP. She leads AARP's educational and outreach efforts aimed at helping Americans have financial peace of mind in retirement. She discusses the many factions of the over 37 million AARP members and the many ways that AARP can help no matter what your path to retirement.
We upload new content several times daily, so please check back often! You can also subscribe to us on iTunes at http://iTunes.ExitCoachRadio.com
Tuesday May 06, 2014
Tuesday May 06, 2014
Cliff Horwitz of Newport Board Group describes 3 tips for businesses who are preparing to go to market in the next few years.
We upload new content several times per day so please check back often!
Monday May 05, 2014
Monday May 05, 2014
Cliff Horwitz of Newport Board Group discusses CEO and Board Advisor strategies for companies in transition. When a Company is in Transition to prepare for sale, a specialized leadership team can be likened to a "riverboat captain" that is brought in to take the wheel to navigate an unknown channel.
We upload new content several times daily so check back often!
Saturday May 03, 2014
Saturday May 03, 2014
Michael Wittick, President - Michael J Wittick, a Prof. Law Corp, discusses the importance of working with a team of specialists in the many disciplines involved in Estate & Business Planning.
We add new content daily!
Friday May 02, 2014
Friday May 02, 2014
Jason Kwiatkowski, President, Valuation Support Partners Ltd. discusses some of the factors that will influence the value of your business at the time of sale.
We add new content daily, so come back often!
Friday May 02, 2014
Friday May 02, 2014
Mindy Jones discusses strategies and ideas to reduce taxes and create higher sale values for businesses.
We upload new content several times every day so check back often.
Sunday Apr 27, 2014
Sunday Apr 27, 2014
Rick MacBarron of Sagemark Consulting does a great job of explaining the need for and the complexity of Exit Planning and gives us great tips.
We upload new content daily so check back often!
Wednesday Apr 23, 2014
Wednesday Apr 23, 2014
Jed Davis of Murphy Business & Financial Corporation shares tips and ideas to get your business sale-ready.
Wednesday Apr 16, 2014
Wednesday Apr 16, 2014
No experienced buyer purchases a company without first learning everything
there is to know about it. That learning process is known as “due diligence.”
Wednesday Apr 16, 2014
Wednesday Apr 16, 2014
Terry Shope, Principal - MPL Consulting,Inc. discusses how small changes are often the starting point for preparing your company to sell for big dollars.
Tuesday Apr 15, 2014
Tuesday Apr 15, 2014
Christopher Scully of Practical Business Solutions shares valuable tips and ideas for business exit planning preparation
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.
Click for FREE E-book "100 Words from 20 Advisors"
How Ready Is Your Business for Transfer or Sale?
Click for FREE Assessment Report
"Come Listen for a Minute"!
Monday Apr 14, 2014
Monday Apr 14, 2014
Christopher Scully of Practical Business Solutions shares valuable tips and ideas for business exit planning preparation
Friday Apr 11, 2014
Friday Apr 11, 2014
Joe Siecinski beings clarity to planning - he is an Action Coach and communicates simply and clearly to explain the planning process. Joe's book, "BrainShare: How Business Owners Make More Money and Have More Time", can be found on ExitCoachRadio.com.
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.
Click for FREE E-book "100 Words from 20 Advisors"
How Ready Is Your Business for Transfer or Sale?
Click for FREE Assessment Report
"Come Listen for a Minute"!
Monday Apr 07, 2014
Monday Apr 07, 2014
Michael Pfeffer, Valuation Expert and Business Broker for Murphy Business & Financial Services of Southwest Florida, explains why it's always important to be ready to transfer your business.
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.
Click for FREE E-book "100 Words from 20 Advisors"
How Ready Is Your Business for Transfer or Sale?
Click for FREE Assessment Report
"Come Listen for a Minute"!
Friday Apr 04, 2014
Friday Apr 04, 2014
Stacey McKibbin of Exit Ahead (a division of MultiVariable Solutions) discusses tips and techniques she has used to successfully transition and sell dozens of professional practices and other goodwill-heavy companies.
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.
Click for FREE E-book "100 Words from 20 Advisors"
How Ready Is Your Business for Transfer or Sale?
Click for FREE Assessment Report
"Come Listen for a Minute"!
Thursday Apr 03, 2014
Thursday Apr 03, 2014
Paul and David Karofsky of Transition Consulting Group discuss how they work with Family Businesses to help transition to the next generation.
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.
Click for FREE E-book "100 Words from 20 Advisors"
How Ready Is Your Business for Transfer or Sale?
Click for FREE Assessment Report
"Come Listen for a Minute"!
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.
Click for FREE E-book "100 Words from 20 Advisors"
How Ready Is Your Business for Transfer or Sale?
Click for FREE Assessment Report
"Come Listen for a Minute"!
Saturday Mar 15, 2014
Saturday Mar 15, 2014
Click for FREE E-book "100 Words from 20 Advisors"
How Ready Is Your Business for Transfer or Sale? Click for FREE Assessment Report
IS YOUR BUSINESS “YOU-PROOF”?
By Bill Black, Certified Exit Planner
Whether you’re planning to sell your company sometime soon or sometime in the future; now is the time to ensure that your business isn’t all about you. From the latest Sellability Score* research involving 2300 companies from around the globe, here are two key factors
Tuesday Mar 11, 2014
Tuesday Mar 11, 2014
Jim Brubaker shares his ideas and tips regarding Exit Planning, including the need to know your target and the need to have a strong "Plan B".
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.
Get our E-book "100 Words from 20 Advisors"
"Come Listen for a Minute"!
Please help spread the word by clicking "share" below
Monday Mar 10, 2014
Monday Mar 10, 2014
Steve Beatty's guest shares tips & ideas for age 50+ business owners. New content daily - check back often!
Monday Mar 10, 2014
Monday Mar 10, 2014
Arthur Rothberg, CFO - Edge, discusses Exit planning from the perspective of a CFO.
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.
Get our E-book "100 Words from 20 Advisors"
"Come Listen for a Minute"!
Please help spread the word by clicking "share" below
Sunday Mar 09, 2014
Sunday Mar 09, 2014
Ace Chapman, Ace Chapman Business Acquisitions Consultant, discusses his experiences in buying business, what he looks for and how you can start to prepare now.
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.
Get our E-book "100 Words from 20 Advisors"
"Come Listen for a Minute"!
Please help spread the word by clicking "share" below
Friday Mar 07, 2014
Friday Mar 07, 2014
Leo Klijn, Exit Strategy Planning, Henberger, discusses the importance of understanding your perspective and your Advisors' perspectives when you think of Exit planning.
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.
Get our E-book "100 Words from 20 Advisors"
"Come Listen for a Minute"!
Please help spread the word by clicking "share" below
Wednesday Mar 05, 2014
Wednesday Mar 05, 2014
6 little things that make a big difference to the value of your company<?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" />
With the Sochi Olympic Games that took place last month, it is interesting to reflect back on some of the big events of the 2014 Olympic Games.
In
Bobsledding The Russians edged out Latvia and the
United States, who finished second and third, with an overall time just .09
seconds better than Latvia. Zbigniew Brodka of Poland won the Men’s 1500m
Speed Skating by .003 seconds, and the
Men’s 1000m Speed Skating was won by only 0.04 seconds.
Wednesday Mar 05, 2014
Wednesday Mar 05, 2014
John Livingston of Plethora Businesses talks about the importance of Employees in the Business-Sale process. John's full live show will be up early in the morning - but you can listen to it anytime! Tell a friend, y'here? #ExitCoachRadio.com - The Information Station for Baby Boomerr Busines Owners. The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Baby Boomer Business Owners contemplating Business Succession and Exit Planning.
Listen to other content by this advisor - See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have dozens of Advisors booked and we add new content daily, so come back often!
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Tuesday Mar 04, 2014
Tuesday Mar 04, 2014
Today
we discuss the essential elements of a plan owners use to transfer a business
to insiders (with the help of skilled advisors) that keeps the owner in control
until he or she is paid the sale price. If you suspect that the children, key
employees or co-owners you would pick to succeed you do not have the funds to
cash you out, consider the following 10 elements that make insider transfers
successful.
Tuesday Mar 04, 2014
Tuesday Mar 04, 2014
In this 20 minute interview, Matthew Capell, January Partners, discusses an alternative for owners who want to transition out of their businesses but may be too small to sell to an outside buyer or Private Equity Fund.
The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Check back to listen to other content by Matthew- See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 175 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
ExitCoachRadio.com - Come Listen for a Minute!
Tuesday Mar 04, 2014
Tuesday Mar 04, 2014
In this 1 minute highlight, Matthew Capell, January Partners, explains the concept of a "Search Fund" and how it can help owners who want to transition out of their businesses.
The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Check back to listen to other content by Matthew- See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 175 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
ExitCoachRadio.com - Come Listen for a Minute!
Monday Mar 03, 2014
Monday Mar 03, 2014
Numbers are black and white right? Not
really. When you hire an investment
banker to sell your business, they "normalize" the company's numbers to present the best
version of financial performance. What do they look for, and what can you do in
advance to help the sales
process? In this article, we identify the top 10 EBITDA adjustments, so you can have a better
chance at selling your company at the highest price.
Monday Mar 03, 2014
Monday Mar 03, 2014
In this 20 minute interview, Jim Immel, Owner, Immel and Associates, Inc. discusses his experience in working with business owners, and the importance of asking the right questions to dig deep and get important answers. He also discusses the "3 types of businesses".
The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Check back to listen to other content by Jim- See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 175 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
ExitCoachRadio.com - Come Listen for a Minute!