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

If you have a business that is not a lifestyle business…a business that you want to get value out of eventually for retirement or any other purpose…and/or you want to have as many options for exit as possible…you will need to build your business so that it’s sellable or transferable…

That involves key value drivers like strong financial performance, a next level management team, product and service differentiation, and a plan for future growth among other value drivers...

And a strategy that you can and should employ is to rightly incentivize your employees who are going to make growth and profitability happen…

As an owner, you will want to make sure the goals of your key employees are aligned with your goals for exit and growth…and then incentivize them appropriately to attain those goals…

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

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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.

Not a few times have we’ve mentioned on this podcast how a very high percentage of business owners are miserable within two years of leaving their business…

And you might think it would be largely due to how much money they received from the deal…but that isn’t it is it…at least most of the time…

It’s a key piece of exit planning that can easily get short-changed or even neglected completely.

But not today…as our topic is What Am I Without My Business???

And, we have with us an expert in this practice area…someone who is often referred to as “The Seller’s Whisperer”…

Denise Logan is an award-winning professional speaker and author of The Seller’s Journey: A Business Fable about Navigating the Emotional Obstacles to Selling Your Business

Denise has addressed audiences on three continents about the psychology of business owners and how to make it easier when the time comes to let go.

For twenty-years she has been focused on the intersection of work, money, and meaning and how it is reflected in the legacies of today’s business leaders.

And, hence, she’s been very successful in shifting the perspectives of both business owners, and their advisors, when needed in order to keep deals from falling apart.

And she has a fascinating background which includes building and leading a Washington DC area law firm until she ran off in a motorhome to answer the question, “What do I do with myself now???”

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.

It’s been one year since the Covid Crisis struck and for many, if not most, small business owners, it has felt more like five years in many ways. The nature of the crisis was unprecedented really with unique challenges having to do with working from home virtually and the related security and human resource issues, in addition to reductions in revenue and profitability.

It’s been a tough stretch, and continues to be.

There were not a few owners who, before the crisis, were hoping and planning to exit their businesses soon. Owners who now are forced have put it off retirement or transitioning out for the foreseeable future. There are others who, again due to the crisis, are more desirous of exiting now than they were prior to the crisis, they simply don’t want to go through another crisis.

So today we’re going to have a conversation around Exiting Your Business Post-Covid: What you need to be thinking about regarding your exit plan as we more and more pull out of the crisis and return to some level of normal.

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.

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.

Much of what we do in serving business owners, is helping them avoid costly or even destructive mistakes. Mistakes in how they build the business as well as how they exit…

For example, one area often neglected until it’s too late is the
work you do in tax planning. It is very easy for a business owner
to make very expensive tax planning mistakes…

Not just when they are actually realizing a transaction…but also in how they
manage their tax situation for an eventual transaction…

But, tax planning is just one of many areas an owner can make
expensive mistakes in selling their business to a third party…. and
that’s what we want to discuss today, “Common Mistakes
Business Owners Make”

Our guest today is Scott Bushkie of Cornerstone Business Advisors located in Green Bay, Wisconsin Scott is the Managing Partner and Founder of Cornerstone Business Services. With more than 20 years in the M&A industry, he is a recognized leader in the field providing exit sell- and buy-
side transitions, along with valuation services in the lower middle market.

Scott has successfully executed hundreds of transactions, domestically and internationally. He has also founded the Cornerstone International Alliance, a group of premier firms serving the lower-middle market.

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 know that building a sellable or transferable business not only helps an owner enjoy more freedom and control in the business today but it is also foundational for an owner to eventually realize a successful exit from the business and, it doesn’t matter if the sell to a third party, sell to key employees, an ESOP or transfer the business to family and of course to have a business
that is sellable you need strong financial performance. One strategy that an owner can employ to ensure strong financial performance is implementing the right employee incentive compensation that aligns with the owner’s goals for growth...


One of the plans often used to accomplish this is a cash-based incentive plan called Phantom Stock And that’s our topic today… Phantom Stock as an Employee Incentive Plan and we are excited to have with us Paolo Pasicolan of the law firm Miles and Stockbridge Paolo has law expertise in executive compensation, employee benefits, tax, and ERISA litigation and his his clients have
included large and small private and public foreign and domestic companies, partnerships, non-profit organizations, governmental entities, churches, plan fiduciaries, and individuals.

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.

Our topic today is Growing Up Through Value Acceleration and we are excited to have with us Scott Snider of The Exit Planning Institute. Scott is responsible for the strategic direction of the organization along with overseeing the company’s operations and chapter development. Since joining EPI, Scott has expanded the organization regionally, nationally, and globally, providing a transformational educational experience to advisors from all specialties across the globe. So Scott is an expert in the Exit Planning industry and we’re excited to have him with us today.

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 we have with us our first “three-peat” guest Elizabeth Mower from The Business Enterprise Institute Elizabeth is the President of BEI and leads the organization in development of resources, information, training and software that enable professionals in a variety of disciplines…like accounting, legal, wealth management, business consultants, etc... to work with business owners to design and implement comprehensive Exit Plans.

She is an attorney, and before joining BEI, was in private practice serving clients with Exit Planning, business continuity planning, estate planning, and business transactions. She is an expert on anything technical or process related pertaining to exit planning, but also the overall state of the exit
planning industry as it pertains to both business owners and advisors and that’s today’s topic: Exit Planning in 2021 So today’s discussion should prove helpful to both business owners and advisors as we hear from Elizabeth on her perspective on the year ahead.

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 themes here on the podcast is providing ideas and information that can help a business owner protect the value of their business as well as build the value.

One of the key areas for protecting value is your core business tax planning,
and a key driver of tax planning for a small business owner is how their business is structured or the entity they choose should they be an LLC, S-Corp, or C-Corp.

Then, should they have one structure as they launch and grow
and then a different one when they leave or exit what is typically the best structure in these situations from a tax perspective?

So, that’s our topic today, “Protect Business Value with the
Right Business Structure”

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 buy-sell agreement provides direction to owners and other
stakeholders in situations when the transition of an ownership
interest in a business is in question -- situations such as…
 Death or permanent disability
 Voluntary lifetime exit
 Involuntary lifetime exit
 Divorce or bankruptcy
Following is an example of how it’s supposed to work…
Let’s say that ACME Digital Marketing is owned by 4 founding
partners…
Sarah, John, Jim, and Susan.
 They started their business 20 years ago and did put a B/S
Agreement in place and have been diligent in reviewing it
each year.
 Sarah decides she wants to leave the business and retire at
the end of 2020.
o All the current conversations regarding Sarah’s wish to
leave are going quite well because the B/S Agreement
clearly outlines how that is to happen… including how
the business is to be valued, and the terms of the
payout.

 Two years ago, Jim suddenly died of a heart attack, and with
a stock redemption plan along with the method of valuation
and funding clearly described in the Buy-Sell Agreement
everything went very smoothly.

So, the purpose of a buy-sell agreement is to address all trigger
events of a transfer of ownership. A primary benefit of having this agreement is to avoid having to make decisions that could lead to disagreements at an inopportune time.

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.