Exit Is Now - Plan Accordingly With Scott Snider

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.

Julie Keyes, an award-winning CEPA and entrepreneur with over 35 years of experience, shares her journey from founding Keys Legal and Title Services to becoming a leading advisor in exit planning. She discusses the importance of focus and the art of saying no, alongside her passion for helping small and lower-middle-market owners. Julie highlights the unique challenges faced by women entrepreneurs, her upcoming book on women-focused exit planning, and the evolving landscape of entrepreneurial support. Tune in for insights on balancing business and family while preparing for successful transitions!

In this engaging discussion, Craig West, founder of Succession Plus and an expert in exit planning, shares his transformative journey from accountant to exit strategist. He dives into the evolution of his nine-step exit methodology and the impact of generational shifts and COVID on business readiness. Craig emphasizes the importance of insights reports in exit planning and contrasts the succession challenges faced by family businesses in Australia and the U.S. Additionally, he reveals key findings from his PhD, highlighting how wealth and legacy shape owners' exit choices.

In this engaging conversation, Christopher Snider, CEO of the Exit Planning Institute and author of Walking to Destiny, shares his entrepreneurial journey from corporate CIO to business owner. He discusses the challenges of pivoting from early ventures, including a failed startup, to establishing a successful decentralized business model. Christopher reveals key strategies from the Value Acceleration Methodology, the resilience displayed during COVID-19, and the importance of personal financial planning. The dialogue highlights lessons learned and the path to owner independence.