ExitReadiness® PODCAST: Exit Planning, Succession & Selling Your Business

In five words, Sir Richard Branson summed up his leadership credo in a Forbes interview: "Listen more than you talk."

According to Branson, if you want to be a great leader, it’s more important to be a great listener than a great speaker because "nobody learned anything by hearing themselves speak."
And, working with small business owners we have found Sir Richard’s exhortation to have proven results.

The most successful business owners we work with the owners who realize consistent growth and profitability, build sellable value, and have happy employees and customers excel at listening.

They listen as much, if not more, than they talk, they understand “they don’t know what they don’t know” and how that can hurt their business in both the short and long-term, and so, they listen and seek to understand their employees, customers, suppliers, vendors and the advice provided by consultants and advisors.

We see it over and over and think it’s essential to building a sellable business and exiting on your own terms and conditions…

So out topic today is The Importance of Listening Skills in Building the Value of Your Business

Want to learn more? Go to: ennislp.com

Conversations that move you closer to a regret-proof exit.

Subscribe To The Channel By Clicking HERE!

Learn more about working with Pat and Walter at ennislp.com 
Connect with Pat: linkedin.com/in/pat-ennis-25b4a111/
Connect with Walter: linkedin.com/in/walter-deyhle-cpa-abv-cff-maff-cexp-cepa-57386614/

#PatEnnis #WalterDeyhle #ExitReadiness


DISCLAIMER: The information in this presentation is provided as education only. 
Neither the presenter nor ENNIS Legacy Partners is engaged to render legal, accounting, or other professional services. Consult a qualified professional for advice specific to your situation. ENNIS Legacy Partners assumes no legal liability for any loss related to information contained in this presentation.

One of our key value adds to client engagements is identifying and testing business owner assumptions pertaining to the exit of their business. Wrong assumptions can result in an unsuccessful or even bad exit. Assumptions about timing, potential owners and buyers, business value, and many other issues can result in a bad exit.

And because owners don’t know what they don’t know they need help identifying their assumptions how those assumptions can negatively impact their eventual exit…and that is a big part of our job, which is why our topic today is Wrong Assumptions Resulting in Bad Exits

Want to learn more? Go to: ennislp.com

Conversations that move you closer to a regret-proof exit.

Subscribe To The Channel By Clicking HERE!

Learn more about working with Pat and Walter at ennislp.com 
Connect with Pat: linkedin.com/in/pat-ennis-25b4a111/
Connect with Walter: linkedin.com/in/walter-deyhle-cpa-abv-cff-maff-cexp-cepa-57386614/

#PatEnnis #WalterDeyhle #ExitReadiness


DISCLAIMER: The information in this presentation is provided as education only. 
Neither the presenter nor ENNIS Legacy Partners is engaged to render legal, accounting, or other professional services. Consult a qualified professional for advice specific to your situation. ENNIS Legacy Partners assumes no legal liability for any loss related to information contained in this presentation.

In 2021, Walter and I both participated as Speakers in an impactful virtual exit planning conference 10X Live – The Exit Plan Summit, founded and hosted by today’s guest Scott Duke…

Having built 11 companies, Scott is a lifetime entrepreneur. From hot dog carts to radio stations and multi-location sports facilities. Currently, Scott is the owner of OpnRoad, an M&A advisory firm servicing the construction sector.

He is also the founder of Welstand Business Brokers and the managing broker of a chain of property management companies in BC, Canada. You can find Scott on his YouTube channel - The Happy Dealmaker - at the annual exit plan industry conference he founded - 10XLIVE - or on LinkedIn @thehappydealmaker.

Want to learn more? Go to: ennislp.com

Conversations that move you closer to a regret-proof exit.

Subscribe To The Channel By Clicking HERE!

Learn more about working with Pat and Walter at ennislp.com 
Connect with Pat: linkedin.com/in/pat-ennis-25b4a111/
Connect with Walter: linkedin.com/in/walter-deyhle-cpa-abv-cff-maff-cexp-cepa-57386614/

#PatEnnis #WalterDeyhle #ExitReadiness


DISCLAIMER: The information in this presentation is provided as education only. 
Neither the presenter nor ENNIS Legacy Partners is engaged to render legal, accounting, or other professional services. Consult a qualified professional for advice specific to your situation. ENNIS Legacy Partners assumes no legal liability for any loss related to information contained in this presentation.

Today’s goal is to help you understand the importance of IRS Tax Form 8594 in preparing for sale of your business to a third party…

It might serve to first review the different types of transactions:

- Stock sale
- Asset sale
-Stock sale taxed like an asset sale (338)(h)(10) election.

Want to learn more? Go to: ennislp.com

Conversations that move you closer to a regret-proof exit.

Subscribe To The Channel By Clicking HERE!

Learn more about working with Pat and Walter at ennislp.com 
Connect with Pat: linkedin.com/in/pat-ennis-25b4a111/
Connect with Walter: linkedin.com/in/walter-deyhle-cpa-abv-cff-maff-cexp-cepa-57386614/

#PatEnnis #WalterDeyhle #ExitReadiness


DISCLAIMER: The information in this presentation is provided as education only. 
Neither the presenter nor ENNIS Legacy Partners is engaged to render legal, accounting, or other professional services. Consult a qualified professional for advice specific to your situation. ENNIS Legacy Partners assumes no legal liability for any loss related to information contained in this presentation.

If you’ve listened in at any time in the past, you’ve heard us mention the certainty that all business owners will stop being business owners at some point, and so there is no better time to begin planning for the inevitable than the present. The earlier you begin planning, the more options you will have for a successful exit.

However, like any strategic plan, it can be tough to know how and where to begin.
So that’s our topic for today’s discussion: An Exit Planning Checklist for 2022.

Want to learn more? Go to: ennislp.com

Conversations that move you closer to a regret-proof exit.

Subscribe To The Channel By Clicking HERE!

Learn more about working with Pat and Walter at ennislp.com 
Connect with Pat: linkedin.com/in/pat-ennis-25b4a111/
Connect with Walter: linkedin.com/in/walter-deyhle-cpa-abv-cff-maff-cexp-cepa-57386614/

#PatEnnis #WalterDeyhle #ExitReadiness


DISCLAIMER: The information in this presentation is provided as education only. 
Neither the presenter nor ENNIS Legacy Partners is engaged to render legal, accounting, or other professional services. Consult a qualified professional for advice specific to your situation. ENNIS Legacy Partners assumes no legal liability for any loss related to information contained in this presentation.

We are not at all experts on programming, coding or coding language.

So we know what it’s like to be in a conversation with one or more tech folks when they start with the tech jargon as if we know what they’re talking about stuff like Electronic Data Interchange, Code-Free Interface, and a lot of times its acronyms like ETLs, APIs, CSVs…

Well we can tend to do the same thing can’t we with terms like GRATs, ESOPs and of course EBITDA, we can wrongly assume that owners know what these things mean.

So today, we’re going to define a term or phrase that we that we use often that not all owners are familiar with and yet is very important to understand in building a business that’s sellable and then successfully exiting, Quality of Earnings.

The topic today is Due Diligence and Quality of Earnings Analysis

Want to learn more? Go to: ennislp.com

Conversations that move you closer to a regret-proof exit.

Subscribe To The Channel By Clicking HERE!

Learn more about working with Pat and Walter at ennislp.com 
Connect with Pat: linkedin.com/in/pat-ennis-25b4a111/
Connect with Walter: linkedin.com/in/walter-deyhle-cpa-abv-cff-maff-cexp-cepa-57386614/

#PatEnnis #WalterDeyhle #ExitReadiness


DISCLAIMER: The information in this presentation is provided as education only. 
Neither the presenter nor ENNIS Legacy Partners is engaged to render legal, accounting, or other professional services. Consult a qualified professional for advice specific to your situation. ENNIS Legacy Partners assumes no legal liability for any loss related to information contained in this presentation.

This week, we received a letter from a listener asking us to help encourage her husband to begin planning for their exit from their business. And joining us to discuss this critical issue is friend and Attorney Stuart Sorkin. Stuart is the founder of The Business and Legal Advisors, a consulting firm specializing in the financial and legal protection of business owners, executives, and entrepreneurs throughout the United States and overseas. He works with startups to mid-size business owners to integrate their personal estate planning goals with goals for growth, succession or exit.

Stuart is the co-author of “Expensive Mistakes When Buying and Selling Companies...and How to Avoid Them in Your Deals” which we highly recommend and he has more than 30 years of experience in legal work pertaining to business transactions and exits so he’s a perfect guest for today’s topic.

Want to learn more? Go to: ennislp.com

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“We want you to help you build a business that is sellable and exit
successfully on your own terms and conditions.” - Pat Ennis

============================================

👇Subscribe To The Channel By Clicking Below!👇

CHECK OUT THESE TOP TRENDING PLAYLISTS NOW!

ExitReadiness Podcast: https://youtube.com/playlist?list=PLENXepxD6Ej2xh-2-WXwKKQHbad2sQfD-

Live Events: https://youtube.com/playlist?list=PLENXepxD6Ej3Y4QRGndGPt-InMssUD7pq

============================================

About Pat:
With decades of experience in financial services, for-profit and non-profit leadership and management, along with the founding of ELP in 2010, Pat has extensive knowledge and understanding of the many challenges faced by business owners. His knowledge base, experience, and training results in a goals-based, comprehensive approach for business owners’ who are intent on building transferable business value and exiting their business responsibly and successfully.
Technical knowledge is evidenced by the professional certifications of Certified Exit Planner (CExP®), Chartered Advisor of Philanthropy (CAP®) and Certified Financial Planner (CFP®) Having pursued much training, along with years of ministry experience, Pat is also particularly proficient in meeting facilitation and the "soft skills" needed for clarifying and establishing owner goals and values, and managing a team of advisors in designing and implementing a plan.
Past employment includes Fidelity Investments, Merrill Lynch, and Sentinel Wealth Management. Additional employment information is available in Pat's LinkedIn Profile.
Pat has also served on various non-profit boards including Advisors in Philanthropy DC, Peacemaker Ministries, Montgomery County Fellowship of Christian Athletes and Razoo Foundation. He and his wife Charlotte have three children, live in Montgomery Village, MD, and are members of Covenant Life Church.
About Walter:
Walter H. Deyhle, CPA, ABV, CFF, MAFF, CExP™, CEPA is a partner and the director of GRF CPAs & Advisors Tax and Exit Planning consulting division. Mr. Deyhle addresses particularly complex issues with clients concerning investments, and estate and gift taxes with a specific concentration helping business owners transition their business.
Walter holds the CExP™ designation from the Business Enterprise Institute and the Certified Exit Planning Advisor designation from the Exit Planning Institute. He has been involved in the business valuation process for approximately 15 years utilizing his expertise for mergers and acquisitions, liquidations and reorganizations. He has been a member of the Institute of Business Appraisers since 1995 and the National Association of Certified Valuation Analysts since 1993, and is a former member of the Maryland Association of CPAs Business Valuation/Litigation Support Committee. Walter received the designation of Accredited Business Valuation (ABV) from the AICPA, has an M.S. in Taxation from American University, and a B.S. in Accounting from the University of Maryland, College Park.


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CONNECT WITH PAT AND WALTER ON SOCIAL MEDIA

YouTube: https://www.youtube.com/channel/UCOwUmJP3Fm4rYbRAQhYQkpg

ExitReadiness Blog: https://ennislp.com/read-our-blog

Facebook: https://www.facebook.com/exitreadiness

Instagram: https://www.instagram.com/ennislp/

Pat’s LinkedIn: https://www.linkedin.com/in/pat-ennis-25b4a111/

Walter’s Linkedin: https://www.linkedin.com/in/walter-deyhle-cpa-abv-cff-maff-cexp-cepa-57386614/

Website: Ennislp.com

#PatEnnis #WalterDeyhle #ExitReadiness

============================================

Learn more about Pat and Walter: https://ennislp.com/about

Conversations that move you closer to a regret-proof exit.

Subscribe To The Channel By Clicking HERE!

Learn more about working with Pat and Walter at ennislp.com 
Connect with Pat: linkedin.com/in/pat-ennis-25b4a111/
Connect with Walter: linkedin.com/in/walter-deyhle-cpa-abv-cff-maff-cexp-cepa-57386614/

#PatEnnis #WalterDeyhle #ExitReadiness


DISCLAIMER: The information in this presentation is provided as education only. 
Neither the presenter nor ENNIS Legacy Partners is engaged to render legal, accounting, or other professional services. Consult a qualified professional for advice specific to your situation. ENNIS Legacy Partners assumes no legal liability for any loss related to information contained in this presentation.

Want to learn more? Go to: ennislp.com

============================================

“We want you to help you build a business that is sellable and exit
successfully on your own terms and conditions.” - Pat Ennis

============================================

👇Subscribe To The Channel By Clicking Below!👇

CHECK OUT THESE TOP TRENDING PLAYLISTS NOW!

ExitReadiness Podcast: https://youtube.com/playlist?list=PLENXepxD6Ej2xh-2-WXwKKQHbad2sQfD-

Live Events: https://youtube.com/playlist?list=PLENXepxD6Ej3Y4QRGndGPt-InMssUD7pq

============================================

About Pat:
With decades of experience in financial services, for-profit and non-profit leadership and management, along with the founding of ELP in 2010, Pat has extensive knowledge and understanding of the many challenges faced by business owners. His knowledge base, experience, and training results in a goals-based, comprehensive approach for business owners’ who are intent on building transferable business value and exiting their business responsibly and successfully.
Technical knowledge is evidenced by the professional certifications of Certified Exit Planner (CExP®), Chartered Advisor of Philanthropy (CAP®) and Certified Financial Planner (CFP®) Having pursued much training, along with years of ministry experience, Pat is also particularly proficient in meeting facilitation and the "soft skills" needed for clarifying and establishing owner goals and values, and managing a team of advisors in designing and implementing a plan.
Past employment includes Fidelity Investments, Merrill Lynch, and Sentinel Wealth Management. Additional employment information is available in Pat's LinkedIn Profile.
Pat has also served on various non-profit boards including Advisors in Philanthropy DC, Peacemaker Ministries, Montgomery County Fellowship of Christian Athletes and Razoo Foundation. He and his wife Charlotte have three children, live in Montgomery Village, MD, and are members of Covenant Life Church.
About Walter:
Walter H. Deyhle, CPA, ABV, CFF, MAFF, CExP™, CEPA is a partner and the director of GRF CPAs & Advisors Tax and Exit Planning consulting division. Mr. Deyhle addresses particularly complex issues with clients concerning investments, and estate and gift taxes with a specific concentration helping business owners transition their business.
Walter holds the CExP™ designation from the Business Enterprise Institute and the Certified Exit Planning Advisor designation from the Exit Planning Institute. He has been involved in the business valuation process for approximately 15 years utilizing his expertise for mergers and acquisitions, liquidations and reorganizations. He has been a member of the Institute of Business Appraisers since 1995 and the National Association of Certified Valuation Analysts since 1993, and is a former member of the Maryland Association of CPAs Business Valuation/Litigation Support Committee. Walter received the designation of Accredited Business Valuation (ABV) from the AICPA, has an M.S. in Taxation from American University, and a B.S. in Accounting from the University of Maryland, College Park.


============================================

CONNECT WITH PAT AND WALTER ON SOCIAL MEDIA

YouTube: https://www.youtube.com/channel/UCOwUmJP3Fm4rYbRAQhYQkpg

ExitReadiness Blog: https://ennislp.com/read-our-blog

Facebook: https://www.facebook.com/exitreadiness

Instagram: https://www.instagram.com/ennislp/

Pat’s LinkedIn: https://www.linkedin.com/in/pat-ennis-25b4a111/

Walter’s Linkedin: https://www.linkedin.com/in/walter-deyhle-cpa-abv-cff-maff-cexp-cepa-57386614/

Website: Ennislp.com

#PatEnnis #WalterDeyhle #ExitReadiness

============================================

Learn more about Pat and Walter: https://ennislp.com/about

Conversations that move you closer to a regret-proof exit.

Subscribe To The Channel By Clicking HERE!

Learn more about working with Pat and Walter at ennislp.com 
Connect with Pat: linkedin.com/in/pat-ennis-25b4a111/
Connect with Walter: linkedin.com/in/walter-deyhle-cpa-abv-cff-maff-cexp-cepa-57386614/

#PatEnnis #WalterDeyhle #ExitReadiness


DISCLAIMER: The information in this presentation is provided as education only. 
Neither the presenter nor ENNIS Legacy Partners is engaged to render legal, accounting, or other professional services. Consult a qualified professional for advice specific to your situation. ENNIS Legacy Partners assumes no legal liability for any loss related to information contained in this presentation.

Want to learn more? Go to: ennislp.com

============================================

“We want you to help you build a business that is sellable and exit
successfully on your own terms and conditions.” - Pat Ennis

============================================

👇Subscribe To The Channel By Clicking Below!👇

CHECK OUT THESE TOP TRENDING PLAYLISTS NOW!

ExitReadiness Podcast: https://youtube.com/playlist?list=PLENXepxD6Ej2xh-2-WXwKKQHbad2sQfD-

Live Events: https://youtube.com/playlist?list=PLENXepxD6Ej3Y4QRGndGPt-InMssUD7pq

============================================

About Pat:
With decades of experience in financial services, for-profit and non-profit leadership and management, along with the founding of ELP in 2010, Pat has extensive knowledge and understanding of the many challenges faced by business owners. His knowledge base, experience, and training results in a goals-based, comprehensive approach for business owners’ who are intent on building transferable business value and exiting their business responsibly and successfully.
Technical knowledge is evidenced by the professional certifications of Certified Exit Planner (CExP®), Chartered Advisor of Philanthropy (CAP®) and Certified Financial Planner (CFP®) Having pursued much training, along with years of ministry experience, Pat is also particularly proficient in meeting facilitation and the "soft skills" needed for clarifying and establishing owner goals and values, and managing a team of advisors in designing and implementing a plan.
Past employment includes Fidelity Investments, Merrill Lynch, and Sentinel Wealth Management. Additional employment information is available in Pat's LinkedIn Profile.
Pat has also served on various non-profit boards including Advisors in Philanthropy DC, Peacemaker Ministries, Montgomery County Fellowship of Christian Athletes and Razoo Foundation. He and his wife Charlotte have three children, live in Montgomery Village, MD, and are members of Covenant Life Church.

About Walter:
Walter H. Deyhle, CPA, ABV, CFF, MAFF, CExP™, CEPA is a partner and the director of GRF CPAs & Advisors Tax and Exit Planning consulting division. Mr. Deyhle addresses particularly complex issues with clients concerning investments, and estate and gift taxes with a specific concentration helping business owners transition their business.
Walter holds the CExP™ designation from the Business Enterprise Institute and the Certified Exit Planning Advisor designation from the Exit Planning Institute. He has been involved in the business valuation process for approximately 15 years utilizing his expertise for mergers and acquisitions, liquidations and reorganizations. He has been a member of the Institute of Business Appraisers since 1995 and the National Association of Certified Valuation Analysts since 1993, and is a former member of the Maryland Association of CPAs Business Valuation/Litigation Support Committee. Walter received the designation of Accredited Business Valuation (ABV) from the AICPA, has an M.S. in Taxation from American University, and a B.S. in Accounting from the University of Maryland, College Park.

============================================

CONNECT WITH PAT AND WALTER ON SOCIAL MEDIA

YouTube: https://www.youtube.com/channel/UCOwUmJP3Fm4rYbRAQhYQkpg

ExitReadiness Blog: https://ennislp.com/read-our-blog

Facebook: https://www.facebook.com/exitreadiness

Instagram: https://www.instagram.com/ennislp/

Pat’s LinkedIn: https://www.linkedin.com/in/pat-ennis-25b4a111/

Walter’s Linkedin: https://www.linkedin.com/in/walter-deyhle-cpa-abv-cff-maff-cexp-cepa-57386614/

Website: Ennislp.com

#PatEnnis #WalterDeyhle #ExitReadiness

============================================

Learn more about Pat and Walter: https://ennislp.com/about

Conversations that move you closer to a regret-proof exit.

Subscribe To The Channel By Clicking HERE!

Learn more about working with Pat and Walter at ennislp.com 
Connect with Pat: linkedin.com/in/pat-ennis-25b4a111/
Connect with Walter: linkedin.com/in/walter-deyhle-cpa-abv-cff-maff-cexp-cepa-57386614/

#PatEnnis #WalterDeyhle #ExitReadiness


DISCLAIMER: The information in this presentation is provided as education only. 
Neither the presenter nor ENNIS Legacy Partners is engaged to render legal, accounting, or other professional services. Consult a qualified professional for advice specific to your situation. ENNIS Legacy Partners assumes no legal liability for any loss related to information contained in this presentation.

A key value driver for a business that will be sellable for a higher multiple is improving the sustainability of future cash flows with strong operating systems…systems that increase efficiency, effectiveness and consistency in all aspects of business operations…

and there’s nothing more important these days when it comes to having the right systems in place…than having the right technology in place….everything from the right network to the right phone systems…

And we have found that it can be intimidating and confusing for small business owners to know what to do and when to do it…

and we’re going to remove some of the mystery and confusion with today’s topic and conversation…

Improving Profitability & Efficiency with The Right Technology

And our guest is Scott Hobbs, President and Founder of Comtech Systems here in Montgomery County MD…

ComTech Systems Inc. is a full-service provider of IT solutions including:
Managed IT Solutions:
Voice Solutions:
Cloud Solutions:
Custom IT
Virtual CIO Services
They specialize in legal, HVAC, medical, and financial businesses but can serve any small business or non-profit.

Scott is a Montgomery County, MD native and founded Comtech in 1985 with his brother Dennis. They started as a phone system provider and have grown to provide a comprehensive suite of IT and Voice Solutions for many clients in VA, MD and Wash DC.

Conversations that move you closer to a regret-proof exit.

Subscribe To The Channel By Clicking HERE!

Learn more about working with Pat and Walter at ennislp.com 
Connect with Pat: linkedin.com/in/pat-ennis-25b4a111/
Connect with Walter: linkedin.com/in/walter-deyhle-cpa-abv-cff-maff-cexp-cepa-57386614/

#PatEnnis #WalterDeyhle #ExitReadiness


DISCLAIMER: The information in this presentation is provided as education only. 
Neither the presenter nor ENNIS Legacy Partners is engaged to render legal, accounting, or other professional services. Consult a qualified professional for advice specific to your situation. ENNIS Legacy Partners assumes no legal liability for any loss related to information contained in this presentation.