ESOPs have long been the dominant employee ownership exit route in the U.S. — but a newer vehicle, the Employee Ownership Trust (EOT), is gaining serious traction as an alternative. Loren Rodgers, Executive Director of the National Center for Employee Ownership (NCEO) and one of the nation's foremost authorities on employee ownership, joins Pat and Walter to explain the key differences between ESOPs and EOTs, when each makes sense for a business owner, and what the growing interest in EOTs means for exit planning. A deep and essential conversation for any owner weighing an employee ownership exit.  

Guest: Loren Rodgers, Executive Director, National Center for Employee Ownership (NCEO) Connect with guest: nceo.org


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



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

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Learn more about Pat and Walter: https://ennislp.com/about CONNECT ON SOCIAL MEDIA:

YouTube: https://www.youtube.com/channel/UCOwUmJP3Fm4rYbRAQhYQkpg ExitReadiness Blog: https://ennislp.com/read-our-blog

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

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#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.

Receiving a Letter of Intent (LOI) feels like the finish line — but experienced M&A advisors know it's actually where some of the hardest work begins. Todd Taskey, M&A advisor at Potomac Business Capital and host of the Second Bite Podcast, joins Pat and Walter to demystify the critical period between the LOI and closing. Todd explains what buyers are really doing during this phase, the most common ways deals fall apart after the LOI is signed, and how sellers can stay in control of a process that can feel overwhelming. One of the most practically useful conversations for any owner in or approaching a transaction.

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

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

Subscribe To The Channel By Clicking HERE!

Learn more about Pat and Walter: https://ennislp.com/about CONNECT ON SOCIAL MEDIA:

YouTube: https://www.youtube.com/channel/UCOwUmJP3Fm4rYbRAQhYQkpg ExitReadiness Blog: https://ennislp.com/read-our-blog

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

Website: Ennislp.com

#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.

More than 80% of businesses that go to market never successfully sell — and the reasons are more preventable than most owners realize. Christine Nicholson, UK-based award-winning Business Mentor of the Year and author of four books on exit planning, joins Pat and Walter to break down the three primary reasons business sales fail. Drawing on decades of experience helping owners get exit-ready in the UK and internationally, Christine brings a refreshingly direct perspective on what business owners need to fix — and when they need to start.  

Guest: Christine Nicholson, Award-Winning Business Mentor | Author, SELL IT | christinenicholson.co.uk
Connect with guest: christinenicholson.co.uk

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




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

Subscribe To The Channel By Clicking HERE!

Learn more about Pat and Walter: https://ennislp.com/about CONNECT ON SOCIAL MEDIA:

YouTube: https://www.youtube.com/channel/UCOwUmJP3Fm4rYbRAQhYQkpg ExitReadiness Blog: https://ennislp.com/read-our-blog

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

Website: Ennislp.com

#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.

The Japanese concept of Ikigai — finding the intersection of what you love, what you're good at, what the world needs, and what you can be paid for — is at the heart of one of the most important and overlooked dimensions of exit planning: what comes next. Joe Markovitch, Certified Exit Planner and Senior Business Advisor, joins Pat and Walter to explore how Ikigai provides a blueprint for business owners to plan not just their exit, but a meaningful and purposeful life after the business. A conversation that speaks directly to the 75% of owners who report unhappiness within a year of leaving.  

Guest: Joe Markovitch, CExP, Senior Business Advisor | ennislp.com
Connect with guest: linkedin.com/in/joe-markovitch

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



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

Subscribe To The Channel By Clicking HERE!

Learn more about Pat and Walter: https://ennislp.com/about CONNECT ON SOCIAL MEDIA:

YouTube: https://www.youtube.com/channel/UCOwUmJP3Fm4rYbRAQhYQkpg ExitReadiness Blog: https://ennislp.com/read-our-blog

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

Website: Ennislp.com

#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.

What should a business owner actually be doing right now to build their ExitReadiness®? Pat and Walter close out the year with a practical, actionable checklist of exit planning priorities for 2025 — covering goal-setting, business valuation, financial gap analysis, transferable value drivers, succession planning, and personal readiness. Whether you're 10 years out or closer, this episode gives you a concrete framework for the year ahead and a clear sense of where to focus first.  

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



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

Subscribe To The Channel By Clicking HERE!

Learn more about Pat and Walter: https://ennislp.com/about CONNECT ON SOCIAL MEDIA:

YouTube: https://www.youtube.com/channel/UCOwUmJP3Fm4rYbRAQhYQkpg ExitReadiness Blog: https://ennislp.com/read-our-blog

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

Website: Ennislp.com

#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 business owner's ability to give honest, effective feedback to employees is directly tied to the transferable value of the business — because management teams that only perform with the owner in the room aren't truly independent. Sarah Goelitz, leadership consultant and founder of Sarah Goelitz Consulting, joins Pat for a focused conversation on what effective employee feedback actually looks like, why so many owners avoid it, and how building a feedback-rich culture is one of the most practical steps you can take toward building a business that runs without you.   Guest: Sarah Goelitz, Founder, Sarah Goelitz Consulting Connect with guest: sarahgoelitz.com

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



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

Subscribe To The Channel By Clicking HERE!

Learn more about Pat and Walter: https://ennislp.com/about CONNECT ON SOCIAL MEDIA:

YouTube: https://www.youtube.com/channel/UCOwUmJP3Fm4rYbRAQhYQkpg ExitReadiness Blog: https://ennislp.com/read-our-blog

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

Website: Ennislp.com

#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.

An earnout looks simple on paper — get paid more if the business performs. In practice, earnout disputes are one of the most common sources of post-closing litigation in private M&A. Scott Taylor, Shareholder at SmolenPlevy and a returning ExitReadiness® guest, brings 20+ years of M&A and business succession law to a deep-dive conversation on earnout strategy and structure. Scott walks Pat and Walter through how earnouts actually get negotiated and documented, what sellers routinely get wrong, how metrics get manipulated, and what protections an experienced attorney insists on before any client accepts an earnout as part of their deal.  

Guest: Scott W. Taylor, Esq., Shareholder, SmolenPlevy
Connect with guest: smolenplevy.com

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

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

Subscribe To The Channel By Clicking HERE!

Learn more about Pat and Walter: https://ennislp.com/about CONNECT ON SOCIAL MEDIA:

YouTube: https://www.youtube.com/channel/UCOwUmJP3Fm4rYbRAQhYQkpg ExitReadiness Blog: https://ennislp.com/read-our-blog

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

Website: Ennislp.com

#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 management buyout feels like the cleanest possible exit — your trusted team takes over, the legacy is preserved, everyone wins. But when partners and co-owners haven't built strong interpersonal foundations, MBOs carry a risk most advisors don't put on the table: the deal can blow up not over financials, but over relationships. Dr. David Gage, clinical psychologist, founder of BMC Associates in Arlington, Virginia, and author of The Partnership Charter, joins Pat and Walter to explore the human and structural risks embedded in management buyouts. David explains why the psychological side of the transition is the most overlooked — and often the most consequential — variable in whether these deals succeed.  

Guest: David Gage, Ph.D., Founder, BMC Associates | Author, The Partnership Charter
Connect with guest: linkedin.com/in/david-gage-75a6441/

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




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

Subscribe To The Channel By Clicking HERE!

Learn more about Pat and Walter: https://ennislp.com/about CONNECT ON SOCIAL MEDIA:

YouTube: https://www.youtube.com/channel/UCOwUmJP3Fm4rYbRAQhYQkpg ExitReadiness Blog: https://ennislp.com/read-our-blog

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

Website: Ennislp.com

#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.

Selling a mid-market business is not the same as selling a small business — the complexity, the buyer pool, and the stakes are all different. Richard Phillips, Managing Director at Oberon Securities, one of New York City's leading mid-market investment banking firms with 70+ senior professionals and 300+ closed transactions, joins Pat and Walter to share what he sees in the sell-side process week after week. Richard walks through the pitfalls that cost mid-market sellers value — from inadequate preparation and unrealistic expectations to poor advisor selection and misunderstanding what institutional buyers are actually evaluating. Essential listening for any owner whose business is approaching or already in the mid-market range.  

Guest: Richard Phillips, Managing Director, Oberon Securities, LLC
Connect with guest: oberonsecurities.com

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

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

Subscribe To The Channel By Clicking HERE!

Learn more about Pat and Walter: https://ennislp.com/about CONNECT ON SOCIAL MEDIA:

YouTube: https://www.youtube.com/channel/UCOwUmJP3Fm4rYbRAQhYQkpg ExitReadiness Blog: https://ennislp.com/read-our-blog

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

Website: Ennislp.com

#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.

Non-compete agreements are in a state of flux — and what you don't know can cost you at the closing table or in the courts. Marc R. Engel, Esq., employment attorney and Shareholder at Lerch Early & Brewer, rejoins Pat and Walter to break down the current legal landscape around non-competes, non-solicitations, and other restrictive agreements. With federal and state-level rule changes creating uncertainty for business owners on both the buy and sell side, Marc explains what the law actually allows now, what it means for key employee agreements, and why getting these documents right well before a transaction matters more than ever.  

Guest: Marc R. Engel, Esq., Shareholder, Lerch Early & Brewer
Connect with guest: lerchearly.com/attorneys/marc-r-engel/

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



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

Subscribe To The Channel By Clicking HERE!

Learn more about Pat and Walter: https://ennislp.com/about CONNECT ON SOCIAL MEDIA:

YouTube: https://www.youtube.com/channel/UCOwUmJP3Fm4rYbRAQhYQkpg ExitReadiness Blog: https://ennislp.com/read-our-blog

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

Website: Ennislp.com

#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.