130 episódios
Exit Insights Darryl Bates-Brownsword
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- Negócios
Welcome to the podcast that's dedicated to helping business owners prepare for exit so you can maximise value and exit like a boss.
I'm Darryl Bates-Brownsword and I want to introduce you to the Exit Insights podcast presented by Succession Plus. The aim of the podcast is to share the message that if you want to get the most from your life's work, maximise the valuation and exit on YOUR terms, then you will need to prepare your business so that it's ready for exit, you are exit ready and the business is attractive to be acquired.
Did you know that 55% of exits are unplanned and are due to death, divorce, or disability, and for those business owners that do get to take their business to market only 20% of them end up agreeing on a deal? there are also too many deals that are never completed because the owners left before the earn-out agreement was completed. It doesn't have to be this way! You'll be interested if you are a business owner and you've been running your business for a few years now and you are at the early stages of thinking about what's next for you. You're going to be in the 1 to 30 million revenue bracket and you're likely to be based in the UK, USA, Australia, or New Zealand. You may be feeling stressed or frustrated with running the business or you may be running out of energy or simply looking to change direction. It doesn't matter why you are looking to exit or sell; this podcast will help you to identify best practices and what you have to do to orchestrate an exit on YOUR terms.
We are addressing the burning issues and topics that business owners want to know about when they start to think about selling their business. Guests include experts from all areas related to the succession planning and exit planning process - from employee ownership, personal financial planning, tax, legal and through to estate planning. We're also talking to people who have already sold their businesses and tapping into what the experience was like and what they learned along the way. We ask them what they know now that they wished they knew before they started the process. We discuss the 21 Steps used by Succession Plus and developed by Craig West to help you structure your business so that you're one of the 20% of business owners who will be able to complete a successful exit. The topics will include things like:
When should I start planning?
What is an exit strategy and exit planning
How will I exit my business?
Can I sell my business - is my business sellable - who will buy my business?
How will the business be valued?
What's my business worth?
How can I improve the business valuation - value potential?
What can I do to make it more attractive to be acquired and speed up the process?
How do I prepare my business and make sure that it's exit-ready?
How long will it take to prepare the business for sale?
Will I have to work an earn-out period?
M&A and acquisitions
Owner dependence
Systemising, systems and systematizing
Growth and scaling
Brand value and IP - (Intellectual property) including intangible assets
How do I increase the multiple
I want to sell my business
Can I sell my business to my employees MBO
Will I get all my money upfront?
What are the risks for me when I sell my business?
What will happen to the employees?
What will happen to the brand?
What about my legacy?
How will I know that my business is exitable?
When should I start exit planning?
Who should I tell that I'm thinking about selling my business?
If this sounds like the questions that you want answered, then I hope you enjoy listening and learning how to exit like a boss.
If you like what you've heard so far, please subscribe so that you will be notified of each new episode.
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Managing Leadership Transition in Family-Owned Businesses with Michael Klein
Are you thinking about transitioning the leadership of your family-owned business? Dive into an essential aspect of planning early for successful business exit strategies in family-owned businesses in this Exit Insights episode.
Michael Klein, an expert in family business leadership transitions, delved into the importance of early planning for business exit and the potential challenges that family businesses face during this significant transition. One key insight from the conversation is the critical need for the next generation of family business leaders to carefully consider their reasons for entering the business.
It's essential for the successors to deeply evaluate if their career goals, values, and passions align with the responsibilities of leadership in the family business. This introspection is pivotal as it ensures that the next generation isn't simply stepping into a caretaker or maintenance role, but rather are the right individuals to drive the business forward with enthusiasm and vision.
Michael's expertise highlighted the potential risks of an ill-prepared succession, emphasising the necessity of balance and careful consideration in the transition process. The key takeaway here is the significance of thorough planning and evaluation before assuming leadership roles in family businesses.
By sharing this insight, valuable guidance is provided to family business owners and successors, emphasising the critical need for self-reflection and alignment with the business's vision and values. It's essential to ensure that the next generation of leaders is not only willing but also well-suited to drive the business forward with passion and commitment.
Watch the episode here: https://succession.plus/uk/podcasts-uk/managing-leadership-transition-in-family-owned-businesses-with-michael-klein/
If you would like to learn more about how to start preparing your business, then you can get more information here: It All Begins with Insights.
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Ready to Exit? Paul Franco's Tips to Increase Your Business Value
Are you getting your financial planning practice ready for a successful exit strategy? Paul Franco's insights on maximising business value and preparing for a smooth transition are gold for advisors planning their business exit strategy.
One key takeaway from Paul is the importance of prepping your business for sale before its value starts to decrease. As a financial planning practice owner, it's crucial to think about the next stage in your life and have a clear vision of what you'll be doing when you exit your business.
Paul's advice hits home when it comes to being proactive in ensuring that your business is exit-ready, not just for financial reasons, but also for the smooth transition into the next phase of your life. It's crucial to start early and increase the value of your business, ensuring that it's ready when you are ready to exit.
Getting your business ready for sale ahead of time, while it's at its peak value, allows you to exit on your terms, ensuring that your hard work pays off and sets the stage for your next endeavor.
Watch the episode here: https://succession.plus/uk/podcasts-uk/paul-franco/
If you would like to learn more about how to start preparing your business, then you can get more information here: It All Begins with Insights.
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Patrick Woock's Guide to Avoiding 5 Crucial Mistakes in Family Business Succession
Are you a family business owner navigating the complexities of succession planning? Take a moment to consider this - the successful transition of a family-owned business is not just about handing over the reins; it's about securing the legacy and impact on the community.
Patrick Woock delved into the critical importance of family business succession. A key insight emerged - the impact of small business owners transcends beyond profits; it resonates within their communities. It's a commitment to service, quality, and the well-being of those they serve.
The nurturing of a family business isn't just about the business itself; it's about preserving the unique value it brings to the local community. As family business owners, understanding this impact on a deeper level can reshape our approach to succession planning, making it more holistic and community-centered.
Watch the episode here: https://succession.plus/uk/podcasts-uk/patrick-woock/
If you would like to learn more about how to start preparing your business, then you can get more information here: It All Begins with Insights.
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Joe O'Mahoney's Consultant's Guide to Increasing Your Business Valuation
Are you prioritising your consulting business's profitability or looking at the bigger picture of long-term valuation growth?
Joe O'Mahoney delved into the crucial elements that influence the valuation of consulting businesses. One key insight that stood out is the shift from profit growth to valuation growth. Instead of purely focusing on increasing profits, consider enhancing your intangible assets, such as building your intellectual property (IP) and structuring your business for a higher multiple.
Joe emphasised the significance of IP in professional service firms, particularly boutique consultancies. By developing your own IP, whether it's a process, methodology, or a unique framework, you not only differentiate your business in the market but also reduce founder dependency. This shift can significantly impact your business's valuation, as potential buyers and investors value systems and processes over individual dependencies.
Furthermore, he explored the potential of leveraging AI tools for cost reduction and business development. Tools like Meet Alfred and Crystal Nose can offer opportunities to streamline processes, reduce costs, and gain insights into clients, ultimately contributing to improved business performance.
Joe O'Mahoney shed light on the importance of strategically building intangible assets, embracing AI tools, and shifting the mindset from profit growth to valuation growth. If you're looking to maximise the valuation of your consulting business, these insights can be invaluable.
Watch the episode here: https://succession.plus/uk/podcasts-uk/joe-omahoneys-consultants-guide-to-increasing-your-business-valuation/
If you would like to learn more about how to start preparing your business, then you can get more information here: It All Begins with Insights.
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The Proven Framework by Joe Pine to Increase Your Business Valuation
Are you familiar with the game-changing impact of transitioning your business from offering services to providing experiences and even transformations?
In this Exit Insights podcast episode with Joe Pine, the author of the influential book, "The Experience Economy," we explored the evolution of adding value to economic offerings for clients. The insights shared shed light on the transition from offering goods and services to providing experiences and transformations, ultimately elevating the economic value a business can offer.
One key takeaway from the discussion was the necessity of determining the true business you are in and recognising the opportunities to shift up the progression of economic value. Understanding this is crucial to creating more economic value, increasing business valuation, and offering clients something far more valuable than just a service or good.
As Joe Pine emphasised, this shift can lead to increased profitability, higher revenue, positive word-of-mouth, and greater engagement with customers. By aligning your business with the mindset of providing time well spent and outcomes for clients, you can position yourself for success in the experience and transformation economy.
Want to learn more about leveraging experiences and transformations to enhance your business value? Consider subscribing to Joe Pine's Substack for the latest insights and cutting-edge strategies. Let's keep the conversation going and explore these game-changing concepts. What opportunities do you see for your business in transitioning to the experience and transformation economy? We'd love to hear your thoughts!
Watch the episode here: https://succession.plus/uk/podcasts-uk/joe-pine/
If you would like to learn more about how to start preparing your business, then you can get more information here: It All Begins with Insights.
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Exit on Top: Dave Bookbinder's Guide to Preparing Your Business for Maximum Valuation
Ever thought about how you can boost your business's value and set it up for a successful exit? Valuation expert, Dave Bookbinder shed light on a crucial factor: de-risking your business to increase its valuation.
Understanding that valuation is a forward-looking exercise, you can focus on reducing the perception of risk in your business, ultimately increasing its value in the eyes of potential buyers and investors. Dave highlighted the importance of showcasing a reliable and promising future for your business, as buyers are interested in the likelihood of achieving economic benefit streams.
This insight emphasises the significance of taking proactive steps to de-risk your business, such as strengthening customer relationships, creating a culture of engagement, and diversifying key client dependencies.
Understanding the impact of risk perception on your business's valuation can guide your strategic decisions and elevate your business's attractiveness for potential exits or investments.
Watch the episode here: https://succession.plus/uk/podcasts-uk/dave-bookbinder/
If you would like to learn more about how to start preparing your business, then you can get more information here: It All Begins with Insights.
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