Exit Coach Radio

Andrew Carlton - Making Sure Contractors Get Paid (G2317)

 

 

 

 

 

 

 

Andrew's business is collecting money for contractors and subcontractors. He is a former general contractor turned lawyer. When you think construction lawyer, you might think "construction defects" and while Andrew does defend contractors from defect claims from time to time, his specialty is getting his contractor clients paid for their work: 

 

Questions Answered: 

 

1) Why construction law? 

2) Have any of your cases resulted in changes in the law? 

 

Contact Info: 

 

Website: www.carltonalberola.com

Email: andrew@cnalawfirm.com

 

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Lynne Strang - The Advantages of Being An Entrepreneur at an Older Age (G2217)

 

 

 

 

 

 

 

 

 

 

Lynne Strang explains the benefits of being an entrepreneur at an older age. The main advantage? Who you know. 

 

Transcript: 

Bill: What are some of those advantages for being an older entrepreneur? 

Lynne: I think, for many people, a later start actually increases the odds for entrepreneurial success because it allows people to develop certain characteristics and assets. For example, you have a bigger network, bigger and better network, and in entrepreneurship the old, "it's not what you know, it's who you know," adage really does matter. So, the longer you've been around, the more people you know, and the more likely it is that you'll have connections that are needed to open doors and obtain advice and market your products, your services, and find the right help. 

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Brad Leggett - Diagnosing Sales Team Problems (G2127)

 

 

 

 

 

Brad Leggett of the Leggett Group shares a brief tip about diagnosing a client's sales team effectiveness. 

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Pat Kramer - The Power of a Well Written Press Release (G2017)

Here's a past highlight from Pay Kramer.

 

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Bill Cohen - How to Steal an MBA (G1817)

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!

We add new content daily! Listen on iTunes: iTunes.ExitcoachRadio.com .

Transcript: 

Bill: Our president right now, at the California Institute of Advanced Management, we're a startup university. We grant one degree, and one degree only, the MBA. We don't permit more than 20 per class and we're totally unique, for anyone else, I think. We do things that even the top tiered business schools in the area do not do. For example, we do consulting in every single course, a requirement of our students in teams of four. It's pro bono, and that's another something that your listeners might be interested in. We also hire professors from the best schools in the country, in addition to our regular professors, all of which have doctorates from accredited universities. So, all these things are unique, we're a little bit different from anyone else. 

 

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Laura Goodrich - Creating Individual & Collaborative Mindsets (G1717)

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.

 

Questions Asked: 

 

1) What does the decade ahead hold in terms of change?

2) What are two major threats facing organizations on the road ahead?

3) What is getting in the way of positive change and innovation in organizations?

 

Contact Info: 

 

Website: www.gwtnext.com

Email: laura@GWTNextc.om

 

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John Nelson - Operations in a Multi-Family Office (G1717)

John Nelson discusses the business, finances, administration, and concierge services of affluent families. 

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!

Transcript: 

John: In terms of family office and affluent families, there's a theme, usually, of legacy. Of trying to keep the family together, trying to keep those assets flowing from generation to generation, realizing they've got to pay their fair share of taxes, but they don't want to be hammered. Many want to appreciate the good graces while they accumulate it, and want to do some good with it, and that's the philanthropy side, but they also want to do well. The other side of philanthropy is it creates tax optimization. Sometimes, a lot families get involved in say, health technologies, or healthcare, medical, those kinds of things so they'll be charitable and involved in that area, maybe have their own foundation, contribute to other foundations, support some private companies, as well. 

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Jonathan Boring - Using Social Media to Improve Your Customer's Experience (G1617)

 

 

 

 

 

 

 

Social Media isn't just to find new customers -- it can also be very useful in identifying what kind of experience your customers are having. Jonathan Boring of Social Spice Media.

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Garry Spinks - The Changing Landscape of the Employee Value Proposition (G1517)

 

 

 

 

 

 

 

 

 

 

Host: Bill Black Audio Library: www.ExitCoachRadio.com 

 

Garry Spinks discusses employee preferences and needs and how your business can adapt to the changing employee landscape.  

 

Transcript: 

Garry: There's a lot of organizations that do a great job at knowing what their business is, what their financials are, what their competitors do, what their strategy is...but the element that sometimes is overlooked is: what about our employees? What are their preferences, what are their needs, are we meeting their needs? And that's why we talk about the employee value proposition. We really think organizations, they know the first three things we mentioned, but they should really put a microscope on: what are employee preferences and needs, and are we meeting those? Because the workforce is changing dynamically right now, and the war for talent is getting no less, there's less people to do all the jobs. 

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Carl Woodard - What is The Right Business Plan Time Horizon? (G1417)

 

 

 

 

 

 

Carl Woodard of SCORE OC discusses the best time horizon to consider for a business plan.

Transcript: 

Bill: What's the right time horizon for your business plan? Here's SCORE mentor Carl Woodard. 

Carl: A lot of people think that if they're not making it within that 90 days that you mentioned, then they need to close up shop and leave. They don't realize that the cash flow doesn't come in from day one, and so that's all part of the planning process. I would say, when you're putting together a plan, it should be for a fiscal year, one year period, and then do your financial projections for at least another year or two, especially if you're going to go borrow money for your business, because the financial folks and people that want to loan the money to you will want to know what you're thinking about after that first year. So, I would say, at least, cover a three-year horizon, but pay special attention to that first year you're in business. But of course, you're always adjusting it. If you're a little behind or a little ahead of your schedule, then you can adjust your current year to make it more realistic. 

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Bill Ellermeyer - Building a Work Portfolio instead of Finding a Job (G1317)

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!

Bill Ellerymeyer discusses the changing job market, the portfolio approach, and how to make income while pursuing your passions. 

Transcript: 

BB: You're counseling more people, "hey, to get more security, or to get more income, you need to think about a portfolio approach."

BE: The market has changed so much, so that the today I would say that 60% of my clients, rather then helping them pursue a job directly, we build a portfolio career using their core skills over multiple streams of income. Example, you're an IT guy, so you now become a consultant in IT, but that is project oriented means up and down. So, to supplement that, you add in other things, the most common one is to start by teaching. You know, one night a week, you can marry that with board work, writing, teaching, all of these things go together so that you have an income from three or four sources. 

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Danny Fontana - Financial Media and Customer Relations (G1217)

Danny Fontana discusses the importance of the relationship between financial advisor and client, and how the financial media can skew that role.

 

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Bob Thurman - Self-Defense in Corporate America (G1117)

 

 

 

 

 

 

 

Bob Thurman is President of Counterattactics, a personal safety and defense training program. For the past 25 years, Bob has been speaking professionally about personal safety and self-defense for corporate America. 

 

 

 

 

Questions Asked: 

 

1. Why did you start this program?

2. What is your training and experience?

3. Why have you been around so long?

 

Contact Info: 

 

Website: www.counterattactics.com

Email: thunderthurman@gmail.com

 

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John Ayling - Shortage of Financing Capital (G1117)

A 1 minute excerpt from a recent interview with John Ayling. Hear the full interview by entering 'John Ayling' into our search index at www.ExitCoachRadio.com. We upload new content daily so check back often!

Transcript: 

John: I'm into financing businesses, so number one, your finances have to be in pretty good shape, especially if it's something we have to have so we can do SEC audits. Now, we're not necessarily saying they need SEC audits done, but they have to have trackability of their sources, of where they bought, what they sold, what barters they rent, and their financial statements. I think they should have an idea of what the opportunities are, what kind of opportunities they see. Because they're in the industry, and we're not. We have to find people to find people that are in that industry, so they have to know the industry pretty well, which they should. It has to be something that would be appealing to them to buy. If they were looking at a company, what would they need? 

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Stephen Rischall - The Next Generation of Financial Advice (G1017)

 

 

 

 

 

 

 

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!

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Stephen Goldberg - You Only Have One Chance to Sell Your Business (G0917)

 

 

 

 

 

We add new content daily! Listen on iTunes: iTunes.ExitcoachRadio.com . See the Index for more on this Topic or by this Guest.

Transcript: 

Stephen: You know, there's a lot of factors that impact value. The business, you have internal factors about the company itself, as well as, on the other end, maximizing value through properly handling the sale process. When I say internal factors, I include addressing areas such as customer or vendor concentration. And, you know, buyer's will really have concerns about that. Another major concern is share-holder or employee dependency that will really effect value. So, I could talk for hours on the topic of what factors impact value, or how you can build value, but really, it all comes down to how predictable and sustainable are the sales and earnings looking ahead into the future?

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Steve Herron - Commercial Real Estate Valuations Can Fluctuate Widely (G0817)

Here's a 1 minute highlight from an interview with 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 sell all of their interviews!

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Dr. Jerry - Amazing new Breakthroughs in Heart Disease Treatment (G0617)

Ask Dr. Jerry! Dr. Jerry is a frequent guest of the show - today he discusses some of the advances in the treatment of Heart Disease and ahat you can do NOW to reverse problems. Contact Dr. Jerry at kjbkorn@aol.com

 

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Clarke Langrall - Exit Planning - The Ultimate Event (G0617)

Here's a 1 minute excerpt of an interview with Clarke Langrall.

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Alexandra Varela - Estate Planning the Right Way (G0517)

Alexandra Varela describes the common mistakes people make iwhen they take shortcuts to their estate planning and the correct way to approach this important topic. www.VarelaLawOffices.com

 

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Dr. David Leonardi - Diet Guidelines to Prevent Cancer (G0517)

 

 

 

 

 

 

 

Here's a 1 minute preview of today's featured Guest. Give it a listen and share it with your friends, and if you like the content be sure and listen to the full 20 minute interview!

Transcript: 

Bill: Looking for a quick dietary tip to reduce your risk of cancer? Here's Doctor David Leonardi.

David: Most people are convinced that protein is a critical part of our nutrition, and the consumption of plenty of animal protein is pretty standard in the Western Diet. But, we've long known from published studies, that high protein diets on a bio-chemical level, are actually deleterious. So, recently, a study published in 2014 finally looked at the relationship between protein intake and mortality In people aged 50-65, the intake of animal protein, in this study, correlated directly with mortality. Now, when I say animal protein, almost everybody thinks of red meat, but I'm talking about animal protein in general. So, this includes all meat, fish, eggs, and dairy. So the intake of animal protein correlated directly with mortality in people aged 50-65, but when they looked at plants as the source of protein, the relationship with mortality was nearly abolished. And there's several reasons for this, number one: animal protein contains higher levels of an amino acid called methionine, and cancer cells thrive on methionine. Secondly, Bill, how do we usually cook animal protein? Meat or fish, we usually grill it or broil it. These very hot or very dry cooking processes form carcinogens on the surface of the meat or fish called heterocyclic amines, and they create inflammatory molecules within the meat or fish. All these create a bio-chemical environment that promotes the risk of a mutation to cancer, and also more rapid growth of that cancer.   

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Linda Duffy - Which Assets Get More Valuable With Time? (G0417)

 

 

 

 

 

 

 

Here's a 1 minute highlight from an interview with 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 sell all of their interviews!

In this 1 minute highlight, Linda Duffy, President and Founder, Ethos Human Capital Solutions discusses the importance of recognizing that it is your Human Assets -- your key people, that are getting more valuable with each passing day.

Transcript: 

Linda: The thing about human capital assets, is they're actually the only asset that appreciates over time instead of depreciates over time. So, they're going to develop new knowledge, skills, and abilities, they're going to have tribal knowledge or organizational knowledge that takes a long time to replace when it walks out the door. And so, anything that you can do to develop those assets is great, and to make sure you're getting the right ROI or ROA, whatever it is that you want. Choose some metrics for your industry, for your organization, and measure them. It may be revenue per payroll dollar, or per full-time headcount, something like that. It could be air rates, it could be productivity per employee, whatever is appropriate for your organization. 

Bill: Is that an area that you can help employers, to help them figure out where to go to get those metrics, or what would be reasonable?

Linda: Yeah, absolutely. We can come in and look at the business, I get pretty involved with the CEO or the business owner, to actually understand the business and take a look and those numbers to make sure they are trending in the right direction. 

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Phil Calhoun - Resources for Employees Who Are Turning Age 65 (G0317)

 

 

 

 

 

 

 

Phil Calhoun discusses an educational resource that he offers for employees who are turning age 65. 

Want more control of your business growth? Invest 15 minutes and get a FREE "Value Builder Road Map" at www.BizGrowth123.com

 

Kathy Condon - Face-to-Face Networking in the Digital Age (G0217)

 

 

 

 

 

 

 

Kathy Condon discusses networking strategies, including the finer points of starting conversations, asking questions, and the importance of listening. 

Transcript: 

Bill: Networking is a big thing these days, and a lot of people just don't know how to make small talk. 

Kathy: That's why I tell people, come up with questions so they can start conversations. I'll share with you one of my best questions for anyone that you wanna get to know better. You look them in the eye, and you say, "tell me something great that happened to you lately." In order for the person to answer that question, they have to think of something great that happened to them, and the key here, is if you listen to the answer, you can easily ask another question. And the whole idea when you're out networking, is it's all about them, not about you. You know everything you know, what you want to do is, you want to learn about the other person. 

 

Brandon Miller - The Employee Owner's Manual (G0117)

Brandon Miller discusses the importance of defining your team member strengths.

This is a 1 minute preview of one of today's featured Guest. Give it a listen and share it with your friends, and if you like the content be sure and listen to the full 20 minute interview!

Transcript: 

Bill: If there were one diagnostic tool that creates the operations manual for a human being, would it be Strengthsfinder, in your assessment? 

Brandon: I think so, and here's why. Dr. Clifton, who is the founder of Strengthsfinder in 1949, had the question, what would happen when we think about what's right with people, rather than what's wrong? And the man devoted his entire life to studying this idea of strength and talent. His conclusion was, we have so many words to describe what's wrong with us in psychology, where are all the words to describe what's right? And, he happened to live in the same city with George Gallup. Ended up purchasing Gallup, which, at the time, was providing the world with polling data, sampling for making decisions, understanding what we thought. Well, there hasn't been a comprehensive study in it's kind. Over 40 years, 2 million people surveyed, in my experience working with the instrument, with all of the academia behind it, all of the analysts, they're all available publicly, it's fascinating to learn how they arrived at their conclusions. This is a marvelous tool. I think it really provides a broad inventory, because not only can you see your top 5, but for a little more of an investment you can see all 34, so you actually see all the talents you use everyday, but you also can learn the ones that you don't use, that aren't a part of you. Which aren't meant to grow them, but meant to understand, "wow, if I have these, and my fellow leader has a different set, it helps me understand our differences," and those differences are actually advantages, not intended to be annoyances, so we learn how to leverage both. So, I would answer yes to that question, and actually feel very strongly about that.  

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Ken Bator - Internal Branding (F3017)

Ken Bator discusses branding and marketing, and the importance of creating a consistent and effective marketing plan that accurately reflects on your business. 

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Kevin O'Driscoll - A Business Coach is Like A General Contractor (F2917)

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!

Kevin O'Driscoll of RIY Business Group Inc explains how a Business Coach often acts in a role similar to a General Contractor.

Want more control of your business growth? Invest 15 minutes and get a FREE "Value Builder Road Map" at www.BizGrowth123.com

Kaaren Hall - All about Self-Directed IRA's (F2817)

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!

Want more control of your business growth? Invest 15 minutes and get a FREE "Value Builder Road Map" at www.BizGrowth123.com

Bruce Jones - Often The Obvious is Overlooked (F2717)

In this 1 minute Highlight, Bruce Jones, TaxWealth discusses more of the various methods of reducing taxes.

Want more control of your business growth? Invest 15 minutes and get a FREE "Value Builder Road Map" at www.BizGrowth123.com

 

Lou Tucci - The Biggest Mistake is Not Starting Sooner (F2617)

Louis Tucci, Owner, L. TUCCI FINANCIAL LLC shares one of the biggest mistakes he sees in his years of working with business owners - the delay in starting to plan.

Want more control of your business growth? Invest 15 minutes and get a FREE "Value Builder Road Map" at www.BizGrowth123.com

Jerrold Katz - What Is Your Business Worth - The $64 Question (F2517)

Jerrold Katz is a Valuation Expert with JP Katz & Associates LLC. But unlike other valuation firms, the number is just the beginning of his work -- the WHY behind the numbers is the real story.

 

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Ken Stiefler - Narrowing Down Your Exit Strategy (F2517)

 

 

 

 

 

 

 

 

 

 

A 1 minute excerpt from a recent interview with Ken Stiefler. Hear the full interview by entering 'Ken Stiefler' into our search index at www.ExitCoachRadio.com. We upload new content daily so check back often!

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit www.BizGrowth123.com

 

 

Ellie Marshall - Time Team, Money and Mindset (F2417)

Ellie Marshall helps business owners grow their business value. She has had many years of experience with large companies and offers tips for businesses of all sizes.

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Kevin Walker - Consider Your Brand Impact (F2417)

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!

Transcript: 

Kevin: Strong management is thinking about branding every day. Every decision, they run in through their "how does this effect our brand" filter. That's important, but most small businesses don't do that, not even thinking about it on an annual basis. If that's you, I think it's time to get serious right now. I think that, if you're planning an exit, you need to be thinking about your brand three years prior to sell, because it takes time to build up the reputation. Like I said, for Trillium, it took them 5 years to go from, "okay we're gonna fake it 'til we make it," it took 5 years for them to become the market leader. 

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Alan Richardson - Business Continuity and Succession Planning is for Everyone (F2317)

Alan Richardson of Transition Point Business Advisors  joins Bill Black to discuss the importance of having a well structured, written Business Succession and Continuity Plan before an unplanned event happens.

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James Coleman (F2317)

A 1 minute excerpt from a recent interview with James Coleman. Hear the full interview by entering 'James Coleman' into our search index at www.ExitCoachRadio.com. We upload new content daily so check back often!

Work ON your business - free assessment at www.BizGrowth123.com

Kraig Strom - Income Strategies in Retirement (F2217)

Kraig Strom discusses the realities of income investing today and the importance of understanding and planning for your needs and understanding all of your options.

We upload new content daily, so please check back often!

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Audrianne Adams-Lee - Outsourcing HR Makes Sense and Saves Dollars (F2217)

In this 1 minute interview highlight, Audrianne Adams-Lee of HR Network, Inc. discusses why it makes economic sense for small (and some larger) business owners to outsource their HR department.

Work ON your business - free assessment at www.BizGrowth123.com

Jeremy Lurey - Developing Your Next Generation Leaders (F2117)

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!

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Kim Ann Curtin - Do You Have a John Wayne Mentality About Your Business Exit? (F2117)

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!

Kim Ann Curtin discusses the stoic approach to business exit that most owners exhibit - and why it might be harmful.

Work ON your business - free assessment at www.BizGrowth123.com

Jack Daly - Hyper Sales Growth (F2017)

Jack Daly believes that passion and entrepreneurship are practically synonyms. His titles include: professional speaker, sales management expert, and CEO of Professional Sales Coach, Inc. Daly's energetic workshops have helped thousands of individuals reach concrete goals and unleash their full potential. 

 

Questions: 

 

1) One of the first things you talk about in your new book Hyper Sales Growth is culture. What does a company or team culture has to do with their sales?

 

2) Culture is one thing we tend to overlook when examining ways to improve sales and grow our business, what are two other things that we tend to overlook?

 

3) Based on your experience, what is the most important thing we need to keep in mind when it comes to sales, and why? 

 

Contact Info: 

 

Website: www.jackdaly.net

Email: gabriel@jackdaly.net

 

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Ken Tucker - Turning Difference into Production (F1717)

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. 

 

Questions Asked: 

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? 

Contact Info: 

 

Website: intentionaldifference.me

Email: kta@me.com

 

Hema Dey - Is Your Web Design Up To Date? (F1717)

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!

Hema Dey, of Iffel International, discusses the importance of keeping your website design and Search Engine Optimization strategy up to date..

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Devon Blaine - Crisis Public Relations (F1617)

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!

Get your business in "ready for sale shape" at www.BizGrowth123.com

John Dini - Beating the Boomer Bust (F1517)

John Dini is the President of MPN Inc., and will discuss how business owners can beat the Baby Boomer Bust. 

 

Questions Asked:

 

1. Why are Baby Boomer owners different from the generations that precede and follow them?

2. What are the three trends that impact the sale of Boomer businesses? 

3. What are the attributes of Boomer businesses that turn off younger buyers? 

 

Contact Info: 

 

Email: jdini@mpninc.com

Website: www.johnfdini.com

 

Bonus Material: 

 

Beating the Boomer Bust, 11 Things You Absolutely Need to Know about Selling Your Business, and Hunting in a Farmer's World are all available on Amazon.

Kevin O'Driscoll - How a Business Coach is Like a General Contractor (F1517)

Guest: Kevin O'Driscoll
Company: RIY Business Group, Inc. 
Website: www.riybusinessgroup.com

Grow your business value at www.BizGrowth123.com

 

Craig Weber - Conversational Capacity (F1417)

Craig Weber is the author of "Conversational Capacity: The Key To Building Successful Teams That Perform When The Pressure Is On" (McGraw-Hill, 2013), and the founder of The Weber Consulting Group – an alliance of experts committed to helping people build more resilient, healthy, and agile organizations. Craig helps an eclectic range of clients improve their performance by treating dialogue as a discipline.

Questions Answered: 

1) What is conversational capacity and why is it so important? 

2) What limits our conversational capacity?

3) How do we build it?

Contact Info: 

Website: http://weberconsultinggroup.net/

Email: weberconsulting@earthlink.net

Bonus Material: 

Book is available in print and electronic form and can be ordered from Amazon.com, Barnesandnoble.com, and 800CEOread.com.

 

 

Rhett Power - Founding a Business with an Exit Plan (F1417)

 

 

 

 

 

 

 

A 1 minute excerpt from a recent interview with Rhett Power. Hear the full interview by entering 'Rhett Power' into our search index at www.ExitCoachRadio.com. We upload new content daily so check back often!

Transcript:

Ross: Before we made our exit, we wanted to build a company that we could be proud of, that could be a legacy company, that could have and be a player in the toy-space. That was our first priority. Out exit strategy was to either go public, or sell the company to a larger player in the industry that could capitalize it even more, and that's what we did. It's an expensive business model when you're talking about a business like the toy business. Sometimes, you put in 50 - $100,000 into a product and it doesn't sell. So, we knew that going in, we knew the model was tough, but we wanted to build a company that we could be proud of. Then, as some point we knew we have to find a strategic partner to come in and really capitalize it the way it needs to be capitalized. 

 

Grow your business value at www.BizGrowth123.com

 

Leo Klijn - In Any Event Start Exit Planning Early (F1317)

 

 

 

 

 

 

 

 

In this 1 minute highlight, Leo Klijn, Exit Strategy Planning, Henberger, discusses the need to start planning for your Exit early no matter how you think your business will transition.

Transcript

Bill: In all the interviews we’ve done with professional advisors, we keep hearing it’s too plan early for your exit, but what about when you’re expecting for a private equity firm to come in and buy out part of your company? 

We asked exit planning expert Leo Klijn for his advice on when to plan.

Leo: First question venture capitalist firms or private equity firms will ask you is, what’s the exit strategy? So, I would argue that every business should have a business plan, and the most important chapter in a business plan is the exit plan, so it’s never too early to have an exit plan. If you haven’t done one, at a minimum, I would argue 3-5 years before you get out. Because the single biggest value driver is the strength of your management team, and what I find in our space is that most of the time the owners play a good role in running the business, if that’s the case replacing that often takes time.” 

 

Grow your business value at www.BizGrowth123.com

 

Abby Donnelly - Straight Talk About Planning Your Succession (F1217)

Bill has a great conversation with Abby Donnelly of

The Leadership & Legacy Group in Greensboro, NC

We discuss:

1. Baby boomers are turning 71 this year. What are the implications for business owners who are planning to sell their

business in the next 5-10 years?

2. What are the 1-2 biggest challenges business owners face as they think about starting the process of succession

planning and exit?

3. Abby's NEW BOOK! Straight Talk About Planning Your Succession: A Primer for CEOs (available at Amazon or go to www.straighttalkaboutsuccession.com

You can also find the following great resources there:

Download: 6 Critical Questions Every Business Owner Should Answer

Download: The 7 Secrets to Preparing For Succession

White paper: The Donnelly Report – The Coming Tsunami for America’s Small Business Owners

 

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