Derek built, operated, and sold a successful family business after 12 years, and now dedicates his life to imparting that experience to business owners and their key employees. From recruiting and retaining a superior team, to succession planning, to sales training and revenue growth, to managing expenses and company financial statements: Derek has been there. As a business owner, managing cash flow, future planning, and simply dealing with life’s ebbs and flows has never been more stressful or complex. With great challenges come great opportunities, and Derek believes this to be a unique opportunity for business owners and individuals—with proper guidance and support—to work towards their financial goals with confidence.

Listen to this informative Legacy Leaders episode with Derek Druschel about exit planning for business success.

Here is what to expect on this week’s show:

● Derek became a financial advisor after being a business owner. His experience as a business owner, including growing and selling his own businesses, led him to this career. He wanted to help other business owners navigate the challenges he faced. Derek's interest in financial markets and investing allowed him to combine his passion for business and finance into one job as a financial advisor.

● Helping clients avoid mistakes and grow is crucial for advisors. Derek emphasizes the importance of cleaning up messes and saving clients from headaches and financial losses. As a former business owner, Derek understands the desire for growth and aims to help his clients grow professionally and personally. By making their businesses easier to run, he believes he can improve his clients' quality of life and contribute to their overall success.

● Starting early is crucial for business success, as younger business owners have the opportunity to achieve more and enjoy the benefits of their business. By starting the planning process early, younger business owners can add more value and see all the benefits of their business. Many business owners haven't even thought about planning, particularly exit planning, and often treat it as a last-minute process. However, the younger a person is and the further they are from transitioning out of their business, the more they can achieve and enjoy the benefits of their business.

● Business owners often avoid contemplating exit planning and contingency planning due to their focus on success and risk-taking. Derek highlights the difficulties they face, explaining that their success often comes from ignoring or downplaying risks and fears. Constantly thinking about contingency and risk may not make them successful entrepreneurs. The challenge lies in helping business owners realize that exit planning and contingency planning are important aspects of long-term business success, rather than a reflection of their business acumen or vitality.

Connect with Derek:

Links Mentioned:

Website: www.Principal.com/Michigan

LinkedIn: https://www.linkedin.com/in/derekdrushel/

With your Guest Host James Moore:

James L. Moore, JD, Counselor at Law, principle and founder of

The Law Offices of James L. Moore, PC is known as the

“expert’s-expert”. Moore’s reputation as a practical problem solver and bottom line communicator provides an environment which allows him to connect with the audience due to his extensive personal, legal, and practical business experience. Moore has 30 years of experience as an estate planning, business succession and tax attorney helping hundreds of clients plan for, protect, and preserve their personal estates and businesses. Moore’s focus provides a proven system that allows individuals and business owners to pass along their wisdom and legacy values with their wealth and business.

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