Exitology: Unlock Your Profits, Unlock Your Potential

 “The investment is an execution to a bigger goal.”

What are the mile markers in life for success that are success for you?

We are either working towards something or moving away from something.

Triage for burnout business owners 

Transparency = exit planning moves people through the value acceleration process.

Knowledge is power.  Know your options vs. denial.

Exit planning = have a journey with the end in mind.  Build enterprise value from day one so the business owner has options.

Joe Seetoo | SVP, Partner and Wealth Advisor at Morton Wealth | 818-591-6219 | [email protected] | LinkedIn

#investment #exitplanning #success #coaching #burnout #advisors #enterprisevalue

Like this episode? Want to learn more? Visit www.exitology.com, or get your copy of Exitology: Proven Strategies to Accelerate Business Growth, 3x Your Company Value, and Exit the Smart Way today.

“Why does wealth matter?”

Wealth goes into our relationships, goes into our time but you must be intentional about your values.

It's a good exercise to step back, write down and think about your dreams irrespective of where you are in life.

Ask your clients and owners, “what perspective are we missing as outside advisors that you would like us to have?”

Walk a mile in your customer's shoes.

Joe Seetoo | SVP, Partner and Wealth Advisor at Morton Wealth | 818-591-6219 | [email protected] | LinkedIn

#exitplanning #succession #wealth #dream #wealthadvisor #exitplanner #exitmybusiness

Like this episode? Want to learn more? Visit www.exitology.com, or get your copy of Exitology: Proven Strategies to Accelerate Business Growth, 3x Your Company Value, and Exit the Smart Way today.

#1 mistake is understanding if the inside person wants the business (employee / family member).

It takes longer to transition to an inside person than an outside person.  

Explore the owner vs. employee mindset.

Entrepreneurs may give the company away before the person is ready to take it over.

Scaling to create a business vs. creating a lifestyle business exit planning.

Build your business to sell to a 3rd party even if you intend to transition to family.

Ellen Long | Exit Planner | Long Business Advisors, LLC www.longbusinessadvisors.com

#growtoexit #transitionplan #mindset #lifestylebusiness #growtosell

Like this episode? Want to learn more? Visit www.exitology.com, or get your copy of Exitology: Proven Strategies to Accelerate Business Growth, 3x Your Company Value, and Exit the Smart Way today.

“Up to 70% of your management team is gone after the exit.”

“The 2 biggest lies in business is that the check is in the mail and that nothing will change after the merger.”

How is your management team incentivized to sell your company? What are the key metrics for management? 

What is a stay bonus plan? 

Entrepreneur prep work to grow to exit and sell the business is a top down approach.

Develop and share your vision and goals to exit with your employees for success.

Ellen Long | Exit Planner | Long Business Advisors, LLC www.longbusinessadvisors.com

#growtoexit #incentives #exitplanning #sellyourbusiness #vision 

Like this episode? Want to learn more? Visit www.exitology.com, or get your copy of Exitology: Proven Strategies to Accelerate Business Growth, 3x Your Company Value, and Exit the Smart Way today.

“90% of businesses won’t sell because they haven’t built the business to sell.”

Think of your business as an investor.

Every investor or entrepreneur should have an exit planning coach.

Begin with the end in mind.

Strategic buyers will pay more than private equity (PE) investors.

Who is the strategic buyer? 

• someone who wants to get you out of the business.
• someone who wants to get into a new market.
• someone who wants to assume talent / employee / culture.

Common mistakes  

• Thinking you will sell your business in a year (M&A takes 9-12 months)
• Thinking you have all the time in the world to sell your business.

Download our Extraordinary Exit checklist:

Ellen Long | Exit Planner | Long Business Advisors, LLC www.longbusinessadvisors.com

#exitplanning #investor #exitplanningcoach #valueinvestor #strategicbuyer

Like this episode? Want to learn more? Visit www.exitology.com, or get your copy of Exitology: Proven Strategies to Accelerate Business Growth, 3x Your Company Value, and Exit the Smart Way today.

“Entrepreneurs are the backbone of society.”

A problem can be solved for value exchange.

Explore 3 main things that buyers look for   

• To own a business with an incentivized management team that runs your day to day.
• A business with financials in order
• A growing business throughout the process

Ellen Long | Exit Planner | Long Business Advisors, LLC www.longbusinessadvisors.com

#exitplanning #entrepreneur #growtoexit 

Like this episode? Want to learn more? Visit www.exitology.com, or get your copy of Exitology: Proven Strategies to Accelerate Business Growth, 3x Your Company Value, and Exit the Smart Way today.

Emotions are a root to your unconscious knowledge and that’s the place to have that data.

What does it mean to be in touch with your emotions, your body and the rationale?

Reference Lisa Feldman Barrett book, How Emotions are Made: The Secret Life of the Brain

Movement of emotions or energy in the body helps you become aware of other data going on. 

Your emotional reactions are always your responsibility.  Emotions don’t last forever.  

Learn how to leverage your emotions to become a more powerful, magnetic leader and have a stage presence in all other things.

Drive, desire and growth doesn’t come without having some kind of fear.

Leah Zimmerman, https://steppingstoolcoaching.com/

#ExitPlanning #ExitMyBusiness #Succession #Retirement #Emotion #GrowtoExit #Conversation

Like this episode? Want to learn more? Visit www.exitology.com, or get your copy of Exitology: Proven Strategies to Accelerate Business Growth, 3x Your Company Value, and Exit the Smart Way today.

It is very hard for any of us to step into shoes that we feel are really big for us.

Characteristics of people who are in Engineering fields

Behaviors - where do I stand and who is trying to threaten my status here?

As a leader, you can’t grow your team any higher than your own maximum level of personal growth.

Explore the boundaries of leadership

Leah Zimmerman, https://steppingstoolcoaching.com/

#ExitPlanning #ExitMyBusiness #Succession #Retirement #Legacy #Conversation

Like this episode? Want to learn more? Visit www.exitology.com, or get your copy of Exitology: Proven Strategies to Accelerate Business Growth, 3x Your Company Value, and Exit the Smart Way today.

Who’s Afraid of Virginia Woolf?

The conversation is the relationship.  Conversations are the connection.

Family businesses in particular need an outside perspective. Reflect on conversations.

Somebody has to get to the place where they say “I want something to change.”

Reference Tom Hubler’s book  The Soul of the Family Business

Leah Zimmerman, https://steppingstoolcoaching.com/

#ExitPlanning #ExitM Business #Succession #Retirement #Legacy #Conversation

Like this episode? Want to learn more? Visit www.exitology.com, or get your copy of Exitology: Proven Strategies to Accelerate Business Growth, 3x Your Company Value, and Exit the Smart Way today.

There are a lot of difficult conversations that frankly people don’t know how to have.

Building a business is to provide but what happens when it also becomes the identity.

Decentralizing (succession planning) techniques to follow.

Ask yourself, what does it mean to build this legacy?

Ask questions that show you really care, show appreciation, honor the human element under the drive.

Leah Zimmerman, https://steppingstoolcoaching.com/

#ExitPlanning #ExitMyBusiness #Succession #Retirement #Legacy

Like this episode? Want to learn more? Visit www.exitology.com, or get your copy of Exitology: Proven Strategies to Accelerate Business Growth, 3x Your Company Value, and Exit the Smart Way today.