The Business Owner Transition

Mike Quinlan, CExP, CWS
  • 5.0 (25)
  • ENTREPRENEURSHIP
  • UPDATED MONTHLY

Selling a business is often one of the most difficult things an owner will ever have to do. Most are not ready, or worse, they are forced into it. Each episode of The Business Owner Transition addresses real-word challenges and solutions so owners can leave on their terms.

  1. Building and Managing High-Performing Sales Teams

    02/28/2024

    Building and Managing High-Performing Sales Teams

    #33 Season 3, Episode 6:  Maximizing Business Transitions: Insights from Sales Expert Jonathan Graviss This podcast episode from the Business Owner Transition Podcast, hosted by Mike, features a detailed conversation with Jonathan Gravis, a career sales leader. Jonathan shares his extensive experience in building and managing high-performing sales teams, offering insights on hiring, training, motivation, compensation, and the importance of a strategic sales process. The discussion covers various aspects of sales management, including adapting to market changes like COVID, utilizing CRM tools effectively, fostering a positive sales culture, and devising incentive programs. Jonathan also emphasizes the importance of resilience, curiosity, and personalized coaching in driving sales team success. The episode aims to guide business owners in refining their sales strategies and enhancing team performance to maximize transaction value during business transitions. 01:09 The Importance of Sales Teams in Business 02:22 Building a High Performing Sales Team 03:38 The Role of Resilience in Sales 09:23 The Importance of a Good CRM Tool 11:03 Key Performance Indicators in Sales 14:01 Sales Leadership and Team Development 17:05 Understanding the Sales Process 18:53 Overcoming Sales Challenges 19:52 The Importance of Customer Needs Analysis 21:56 The Role of Trust in Sales 22:47 Managing Sales Teams 23:45 Designing Effective Compensation Plans 24:59 Sales Incentive Programs 27:21 Engaging with Your Sales Team 29:58 Transforming Sales Culture for Success 31:35 Wrapping Up: The Long Game of Sales

    32 min
  2. The Art of Enhancement vs The Challenge of Transformation Part 3

    02/13/2024

    The Art of Enhancement vs The Challenge of Transformation Part 3

    #32 Season 3, Episode 5: Business Leader Mindset and the Impact of Wrong Choices This episode of the 'Business Owner Transition' continues Mike's discussion with TD Smyers of the "No Clichés" podcast and owner of aboldleader.com. They explore the necessity of great leadership in both thriving and struggling businesses and discuss how problems arise when a leader suitable for a turnaround situation is in charge of a successful business and vice versa. The discussion focuses on implementing changes in flourishing and failing companies. They underscore the importance of bringing in an external coach to guide the leadership transition, highlighting the potential adverse consequences of getting it wrong. 01:00 The Consequences of Hiring the Wrong Leader and understanding the Concept of Mission Mismatch 03:20 The Impact of Wrong Leadership on a Thriving Company 06:51 The Role of Ownership in Leadership Decisions 15:36 The Impact of Leadership Mindset Mismatch on Business 17:17 The Importance of Seeking Help in Business Transition 20:10 Conclusion: The Role of Elite Exit in Business Transition

    21 min
  3. Leadership in Business: The Art of Enhancement vs The Challenge of Transformation Part 2

    01/26/2024

    Leadership in Business: The Art of Enhancement vs The Challenge of Transformation Part 2

    #31 Season 3, Episode 4: This podcast tackles the contrasting roles of leaders in a healthy, well-run organization versus a struggling or failing company, highlighting the inherent difficulties and benefits of each situation. The speakers discuss how leaders in healthy companies can struggle due to resistance from the board and employees when trying to foster innovation and change, while leaders in struggling companies are more in line for revolutionary changes, though often at a faster pace. The hosts argue that the best leaders in both situations engage and inspire their teams. They discuss some key attributes for individuals taking on a leadership role; ability to take decisive action, restore confidence, navigate resistance to change, and revamp culture. Another crucial factor is the loneliness that comes with the top position in a company, underscoring the importance of having someone by your side for support, either in the form of a coach or a trusted advisor. This podcast also talks about succession planning and urges leaders and founders to understand their strengths and limitations in terms of duration at the executive level. 00:47 Challenges of Leading a Troubled Company 01:19 The 'On the Bus or Off the Bus' Speech 03:15 The Importance of Team Alignment 03:40 05:12 The Role of a CEO in a Failing Company 11:01 The Importance of Succession Planning 22:37 The Loneliness of Leadership 24:45 The Value of a Trusted Coach

    28 min
  4. Leadership: Art Of Enhancement vs. Challenge Of Transformation

    01/16/2024

    Leadership: Art Of Enhancement vs. Challenge Of Transformation

    Season 3, Episode 3: The Business Owner Transition Podcast: Exploring Transformational Leadership Styles in Thriving Companies with organizational leadership expert T.D. Smyers  https://aboldleader.com/about  Download 10 Questions To Ask A New President For Your Thriving Company:  https://www.eliteexit.com/blog/key-interview-questions-to-ask-a-new-president-for-your-thriving-company This episode of the Business Owner Transition Podcast explores the required attributes of newly instated executives in profitable businesses. The conversation delves into the art of enhancement, which involves a slow transition, and the influence that engagement, motivation, collaboration, innovation, cultural core competency, growth focus, and balance of stability and agility have on company success. In conclusion, the importance of self-awareness, change with a purpose, the ability to evolve, and caution towards risk aversion are underlined as keys to a successful transition. Upcoming in the series is a discussion about leadership styles for companies not currently performing at their peak. 01:03 Discussion on Elite Preparation for Business Transition 02:57 Introduction of Guest Speaker - TD Smyers - TD Smyers' Career Journey and Expertise 07:17 The Art of Enhancement in Transformational Leadership 10:55 The Importance of Collaboration and Innovation in Leadership 18:50 Understanding the Role of Culture in a Thriving Business 22:16 Balancing Stability and Agility in Business Growth 27:23 Dealing with Resistance and Power Structures in Leadership 30:05 Conclusion and Preview of Next Episode

    31 min
  5. 2023 M&A Market Insights and 2024 Projections: How to Achieve An Elite Business Exit PART 2

    01/09/2024

    2023 M&A Market Insights and 2024 Projections: How to Achieve An Elite Business Exit PART 2

    Elite Exit: Season 3 Episode 2:  Preparing for a Profitable Business Transition in 2024 This business owner transition podcast focuses on how to properly navigate the process of exiting a business. Host Mike Quinlan talks with guests Rob Swartwood (https://www.consiliumls.com) and John Marsh (https://www.mcreek.com), about their experiences with business deals in 2023, lessons learned and what to expect in 2024. The conversation covers the importance of top line growth, the necessity to handle and present financial statements effectively, understanding and tracking revenue trends, and the significance of preparing ahead for due diligence. They suggest that proper preparation, diversifying revenue streams, and a strong client base could increase the business's value in the market. The overall message emphasizes taking proactive steps for better business and maximizing transaction value at the time of sale. 00:01 Introduction to the Business Owner Transition Podcast Part Two of Conversation with Rob Swartwood and John Marsh. 00:55 Importance of Top Line Growth in Business 01:07 Articulating Business Growth and Vision 01:37 Understanding the Story of Your Business 02:01 The Impact of Declining Revenue Growth on Business Deals and Understanding the Concept of 'Retrade' in Business Deals 03:25 The Importance of Business Growth and Profitability.  Challenges in the Growth Component of Business Deals.  The Role of Risk in Business Deals.  The Impact of Revenue Decline on Business Deals. Understanding the Importance of Top Line Revenue Growth 08:54 The Role of Financial Statements in Business Deals 17:18 The Importance of Documenting Operations in Business 23:11 The Importance of Diversifying Revenue Streams and Client Base 27:12 Outlook for 2024 and the Importance of Preparation 31:03 Conclusion and Final Thoughts

    32 min
  6. 2023 M&A Market Insights and 2024 Projections: How to Achieve An Elite Business Exit

    12/21/2023

    2023 M&A Market Insights and 2024 Projections: How to Achieve An Elite Business Exit

    Episode 29: 2023 M&A Market Insights and 2024 Projections: How to Achieve Elite Business Exit In this first part of a two-part podcast, business owner transition expert, Mike Quinlan, discusses the 2023 M&A market trends and projections for 2024 with industry experts Rob Swartwood https://www.consiliumls.com/ and John Marsh https://www.mcreek.com/ . They delve into the importance of understanding and increasing cash flow and institutionalizing management for a self-managed business, The podcast also gives insights into correctly valuing businesses and preparing them for a market that has become increasingly scrutinizing. Tune in for practical advice to best position your company for sale. 01:07 Guest Introduction: Rob Swartwood and John Marsh 01:55 Insights from Rob Swartwood 02:37 Insights from John Marsh 04:41 Impact of Market Changes on Business Owners 06:45 The Importance of Preparation for Business Sale 13:05 The Role of Cash Flow in Business Transition 19:40 Institutionalizing Management for Business Transition

    25 min
  7. Level the playing field between you and your buyers with Kevin Cumbus

    11/08/2022

    Level the playing field between you and your buyers with Kevin Cumbus

    In episode 28, Mike talks with Kevin Cumbus, founder, and President of TUSK Partners.  Kevin and his team focus on dental industry M&A and specifically sales to DSOs (Dental Service Organizations) and are the preeminent boutique firm in the dental space. Key points in the podcast include: 14:00. Organizational complacency and how the buyer capitalizes on your inefficiency 20:30. What value are you most interested in maximizing? 26:10. Personal financial preparation and how it impacts your deal 30:00. The structure of your deal and rollover equity - what does that mean? 40:00. What mistakes do business owners make when trying to sell the business without representation? 46:50. Unsolicited offers - Is that your best price? Contact Kevin and his team at: https://tusk-partners.com or 704-302-1043

    54 min
  8. Maximizing the value of your dental business transaction with Amol Nirgudkar

    10/28/2022

    Maximizing the value of your dental business transaction with Amol Nirgudkar

    In today’s podcast, we talk about elements of the “G” and the “O” of the I.M.G.O.O.D. Checklist™.  Specifically, we discuss increasing the topline growth of your dental business by simply dialing up the efficiency and effectiveness of your existing front office staff. My guest today is Amol Nirgudkar, the founder and CEO of Patient Prism.  As a CPA, business consultant, author, entrepreneur, and former owner of several dental practices, he has 20 years of experience working with dental practices and groups.  He also serves on multiple large dental service organization boards. Key conversations in the podcast: 03:20 - Amol's thoughts on the dental industry 08:40 - What are DSOs looking for when partnering with a dental business? 14:00 - What improves transferrable value in the dental business? 18:15 - What are the key macro and micro metrics DSOs look at? Please review the Patient Prism website at https://www.patientprism.com Find out more about Amol at https://www.linkedin.com/in/amolnirgudkar/

    30 min
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5
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About

Selling a business is often one of the most difficult things an owner will ever have to do. Most are not ready, or worse, they are forced into it. Each episode of The Business Owner Transition addresses real-word challenges and solutions so owners can leave on their terms.

Information

  • Creator
    Mike Quinlan, CExP, CWS
  • Years Active
    2021 - 2024
  • Episodes
    32
  • Rating
    Clean
  • Copyright
    ©2024, VECTAC Advisory Services, LLC
  • Show Website
    The Business Owner Transition