Exit Is Now - Plan Accordingly With Scott Snider

Jesse Hudson, Director of Business Development at the Exit Planning Institute, flips the script to interview his close friend Scott Snider, the organization's president. They dive into their early friendship and how a camping trip laid the foundation for their bond. Scott reveals how mentorship and hands-on experiences shaped his growth. They discuss the transformation of EPI's sales approach, the concept of 'destination disease,' and how the leadership team adapted to challenges during COVID, emphasizing trust, core values, and community focus.

In this conversation, John Warrillow, founder of the Value Builder System and author of bestselling books, shares insights from his entrepreneurial journey. He discusses the concept of sellability scores and how recurring revenue models enhance business valuation. John reveals lessons from his four business exits and emphasizes the importance of delegating for a company's longevity. He also explores the motivations behind selling and the challenges in communicating with employees during transitions, providing a wealth of knowledge for business owners.

Kerry Siggins, CEO of StoneAge and author of The Ownership Mindset, shares her journey of transforming her company into an ESOP, focusing on employee ownership and culture. She discusses the challenges of scaling while maintaining a strong company culture and the importance of trust in leadership. Kerry reflects on her personal growth, overcoming struggles, and the impact of ESOP on employee retention and profitability. She also reveals her motivations for writing her book and balancing her ambitious goals with family life.

Season two kicks off with insights into the differences between business success and significance. Scott previews influential authors featured at the upcoming Exit Planning Summit and highlights key speakers like John Hansen. He discusses misconceptions surrounding exit planning and shares intriguing trends in owner readiness over the past decade. Notably, the pandemic has spurred owners to reassess their priorities. The market opportunity for exits has risen dramatically, from $10T to $14T, inviting advisors and owners to engage more deeply.

The hosts highlight transformative moments in exit planning, shifting focus from short-term gains to long-term value creation. They discuss the significance of changing vocabulary to foster better decision-making among business owners. Engaging family in succession planning early is emphasized, alongside the benefits of gradual share acquisition. Insights on aligning personal purpose with leadership and finding a work-life blend provide fresh perspectives for future growth.

Jessica Fialkovich, a business exit expert and founder of Exit Factor, shares her fascinating transition from corporate roles in sports and real estate to entrepreneurship. She discusses her experiences launching a boutique wine business and the strategic sale that followed. Jessica highlights key traits for successful business brokers and the importance of preparing businesses for sale. She also touches on franchising Exit Factor for broader impact and reflects on the challenges of finding purpose after exiting a business, offering a personal glimpse into post-sale life.

In this discussion, guests Michael Stier and Darren Cherry from FocusCFO share their immense expertise as fractional CFOs. They highlight how CFOs transition businesses from merely generating income to creating long-term value. Michael reflects on his VC-backed exit experience and how it shapes advisory practices, while Darren discusses his journey from cost accountant to CEO. They emphasize the crucial role fractional CFOs play in identifying pain points like scaling and cash flow, ultimately guiding owners through the intricate exit planning process.

Casey Clark, Founder and CEO of Cultivate Advisors, shares his insights as a young entrepreneur and business coach. He recounts an adventurous business retreat in Alaska that combined peer learning with outdoor challenges. Casey reflects on his early ventures, including a student painting franchise that launched his career. He introduces Cultivate's innovative Propeller Method for scaling businesses, emphasizes the importance of shifting focus from customers to team, and reveals his strategy for maintaining a balanced work schedule while promoting delegation.

Join Mike McGrann, a family enterprise consultant with extensive experience in family business education, as he dives into the dynamics of family-run companies. He shares his journey from Wall Street to consulting, highlighting the generational shifts in expectations. Discover how communication and meritocracy can strengthen family firms while navigating challenges of ownership and management. Mike emphasizes the competitive advantage of 'familiness' and the importance of candid discussions on fairness and governance for sustainable success.

Mike Fischer, an exited entrepreneur and managing partner at Wilco Tech, shares insights from his journey of building and selling Thin Solutions, an IT services company. He discusses the importance of creating a business independent of him and his strategic move towards acquisitions to drive growth. Mike emphasizes his MBA experiences, the impact of his divorce on personal challenges, and how peer groups influenced his entrepreneurial mindset. Now focused on cybersecurity SaaS, he reflects on lessons learned and the desire to pass business wisdom to his children.