Our special guest today is none other than Todd Krough, incoming President of the Twin Cities Metro Area EPI Chapter. Todd is also a financial advisor and wealth planner with MN Bank & Trust and is a CEPA as well. Todd has been an active member of the Chapter, almost since its inception in 2016. Our discussion today revolved around how the Chapter has been integral in helping professional advisors become more equipped to assist their clients with successful exits. 

When the credential "Certified Exit Planner" first came to be, advisors and owners alike were not familiar at all, and the process was foreign. Fast forward 15 years, and now exit planning is a 'thing'; recognized as an industry across disciplines and talked about in business owner circles nationwide. 

What do CEPAs actually do for business owners that other advisors can't do? First, understanding the process of exit planning, who's involved and why it's important is essential to figuring out how to get it done. CEPAs are well versed in the why, who, what, and how of exit planning. It reduces stress on the part of the owner, knowing they've got an expert on their side who has their back, and can coordinate the process with and between the other advisors on the team, so the owner can be about the business of running their business!

The Chapter has been such an essential tool for so many advisors in building their practices over the years. Ask any advisor or CEPA who's had a long-term membership in a Chapter and they will attest to that fact. 

Listen to the episode to learn more!

Find Todd here!

📌 Find the Exit Planning Institute Twin Cities Metro Area Chapter here!

Connect with Julie Keyes, Keyestrategies LLC
Founder, Consultant, Author, Pod-caster and Instructor

In this episode of Poised for Exit, we’re joined by Ruba Khairi and Ahmed Mousa, a dynamic husband-and-wife team of business brokers at Sunbelt Business Advisors. Their journey into business brokerage is anything but ordinary. In 2018, they were prospective buyers themselves, exploring business ownership before being drawn to the world of business brokerage.

When COVID-19 disrupted their plans, they took a leap of faith and attended an open house for prospective business brokers. Although hesitant at first, they quickly realized their passion for helping business owners navigate the transition process. Five years later, Ruba and Ahmed have become top-performing brokers, winning multiple awards and earning spots in Sunbelt’s prestigious President’s Circle.

In this conversation, they share their philosophy of success, which is all about helping people first and foremost, and the importance of guiding business owners through one of the most significant financial transitions of their lives. We also dive into why experienced brokers are in such high demand, especially as millions of baby boomers prepare to retire and transition out of their businesses.

You’ll hear an inspiring client success story that shows just how impactful this work can be. If you're interested in business transitions, exit planning, or the role of brokers in ensuring a smooth exit, this episode is full of valuable insights.

Connect with Julie Keyes, Keyestrategies LLC
Founder, Consultant, Author, Pod-caster and Instructor

Our featured guest in this episode is Leslie Lauer, Managing Director and Senior Portfolio Manager at RBC Wealth Management. Leslie specializes in ESOPs, and shared some highlights of her years of experience as a trusted advisor. 

Leslie's background in banking and accounting was the foundation for her career path to advising on deal structure for ESOPs. She's also a former entrepreneur herself (a company owned by an ESOP) which takes her advice from a theoretical perspective to a practical one. Her Board positions with ESOP organizations like the National Center for Employee Ownership give her an edge that's rare in a space that can be misunderstood and therefore underutilized as an exit option. 

We unpacked some of the nuances of ESOPs and realized we'd need a Part 2, so look out for that soon. While she was on the show, Leslie took the time to explain what an ESOP actually is for our listeners who may not be as familiar:

1. A Transition Tool
2. A Retirement Plan
3. A Tool for Deferred Growth.

In addition, we talked about how ESOP is a Defined Contribution Plan, similar to a 401K Plan. ESOPs are governed by ARISA and follow compliance regulations set forth by the Department of Labor and the IRS.  That may sound complicated, but if you have someone like Leslie to help facilitate and bring the team together, it can be a fantastic way for all stakeholders to win. 

You can contact Leslie here to get your questions answered, whether you are an advisor or business owner.

Connect with Julie Keyes, Keyestrategies LLC
Founder, Consultant, Author, Pod-caster and Instructor

Our guest for this show is Rick Brimacomb, CEO and Founder of Brimacomb Capital and Club Entrepreneur. Rick has been involved in deal-making and Venture Capital investments for many years, and he shared how he has become so successful. 

Rick's approach is as a side-by-side confidante and close colleague to the owners of the companies he invests in. He sees it as a relationship over a transaction, since most last such a long time. His goal is to help grow the business and help the owners achieve a higher level of return while generating a decent return for his work at the same time. 

His background in investment banking, financial analysis, and business in general has set him up to examine opportunities that come his way from several angles. He has proven his worth in numerous situations for a variety of companies over the years. Rick says that because he's vetted over 10,000 businesses in his lifetime, he's become pretty good at knowing what will succeed and what won't. Who will and who won't. His mantra is Recurring Revenue. 

Listen to the wisdom and advice from Rick here!

Find Rick at Brimacomb.com

Connect with Julie Keyes, Keyestrategies LLC
Founder, Consultant, Author, Pod-caster and Instructor

JTeleconnections, or "JTel" has been in business for nearly 30 years. We had the pleasure of hosting two of the partners in the company, who happen to be family members. 

Mother and daughter team, Jody and Paige Weinberg joined us for this episode of Poised for Exit. We talked about how they are working toward Paige taking over the business in the future, and how Jody is delegating some of her work to her daughter, who's been with the business for 9 years. Paige acknowledged she has a lot to learn, but Jody says that Paige has come a long way since she first started. 

Jody also acknowledged that she is having a hard time letting go, and likely will 'work' for many years to come, even if she's not leading the charge. Her plans are not uncommon among other owners and founders, regardless of company size. As entrepreneurs, we tend to feed on the energy that growing and running a business provides. 

They shared how much they both love the work they do, and it's evident by how loyal their clients are and by how much their work of setting up meetings for professional leaders impacts their client's companies. To be clear, JTel is not a telemarketing firm, but acts as a right-hand person for C-Level leaders who need help setting up prospect meetings. JTel has become an expert at setting up "meetings you want". 

Find Paige and Jody here www.meetingsyouwant.com and learn about the special offer for our listeners only!

Connect with Julie Keyes, Keyestrategies LLC
Founder, Consultant, Author, Pod-caster and Instructor

From The Vault:

Private Investigators and Dealmakers are Teaming up More Often than Ever!

We covered an unusual topic in this episode, that we learned wasn't so unusual afterall. Private investigations within the M&A space. As buyers and sellers become more leary of the trustworthiness between them during dealmaking, the advisory team is completing the circle of trust by having what they disclose verified. Our guest today is Tom Jaeb, Founder and Managing Director of JR Risk Advisors. Tom's background in private investigations goes back to working with his brother's PI firm in 1993. When that firm sold, he and his brother took a year off to honor the Non Compete and then launched J2 Risk Advisors. This time around, their sole focus is on M&A transactions, being hired by PE firms, Investment Bankers, and others in the Dealmaking space. They verify all kinds of information that has been disclosed, and watch for red flags in areas that could be missed by the untrained eye.

You'd think that a credit report, courthouse search, and online search would bring up enough to make a case for or against a deal going through, but J2 digs deeper. They conduct research that examines the Press, Social Media, College Degrees, and other background sources as well.

Tom says that most deals are free of 'red flag' items that would derail a transaction. However, he said that each search uncovers things that weren't necessarily discussed or disclosed, simply because the buyer or seller didn't think it was relevant. Say for instance a lawsuit settlement that the company was a party to 10 years ago. The key to deciding whether research and analysis are necessary is to determine if there are patterns of behavior or isolated incidents. When it's a pattern, it's a red flag, but if it's something that happened once many years ago, they're not going to be as concerned.

Tom shared some intriguing client stories that you will find surprising! He said that Private Investigations during the dealmaking stages are more common than you think. The point about trustworthiness can be carried over from little things to big things; it's then up to the buyer or seller to decide whether to move forward.

Listen to the episode here!

Connect with Julie Keyes, Keyestrategies LLC
Founder, Consultant, Author, Pod-caster and Instructor

From The Vault:

Why Acquisition Entrepreneurs Should Know Pari Passu (who?)

We had John Thwing, "The SBA Guy" in the studio today to talk about SBA financing for acquisitions of small businesses. When it comes to entrepreneurship, John says "don't start one, buy one!"  When the deal makes sense from all the fundamental angles, John says it's always better to buy a business that has cash flow on day one. Not that start ups are bad, in fact they're necessary in many situations, but most entrepreneurial endeavors include financially supporting the owner in some way. SBA financing can be a great catalyst for achieving a business acquisition, whether it's your first or 15th company.  

The SBA lending threshold is $5MM, but there's an option that many buyers are not aware of that allows you to finance more than $5MM with the same terms as the SBA loan and in the same lien position. It's called "Pari Passu", and it basically allows for two loans on the same business with SBA terms in an equal priority position. With the right mix of cash flow, buyer expertise and down payment (still a minimum of 10%) this can expand buying options beyond a mainstreet size company. As long as the business can support the debt service on the loans, this type of financing can be a gamechanger for the opportunistic entrepreneur. 

Live Oak Bank is the largest SBA Lender in the United States. The point of entry for any bank is to become an "SBA Preferred Lender", but John says that working with a lending specialist is key. Most bankers, he says, are not deal professionals because they perform other services for the bank, like opening accounts and other customer related services. When you need creative deal structure, especially when SBA financing is your path, you need someone who does it everyday. 

You can connect with John here and Julie here 

Listen to the episode here

Connect with Julie Keyes, Keyestrategies LLC
Founder, Consultant, Author, Pod-caster and Instructor

In this episode of Poised for Exit, we had the honor of interviewing Mike Moroz, President and CEO of Walters Recycling and Refuse. A man with years of C level leadership experience in a variety of industries, who has really made his mark using his ability to scale companies, whether public or private!

Mike says that working for family business as a non-family member can be challenging at times, but for the most part has been a very rewarding experience that he still enjoys immensely. He credits much of how well they're doing as an organization to the University of St Thomas Family Business Center and its long time Executive Director, Jon Keimig.

The Walters family is moving into their second generation of leadership. At one point all four children of the two founders worked in the business, but three have since moved on to launch and grow their own enterprises. The oldest child remains as the COO of the company and according to his 'boss', is doing a fantastic job in his role. At some point, he could be groomed to succeed Mike, or the family will opt to seek outside leadership again. Time will tell, but Mike is still in growth mode and doesn't plan to go anywhere. 

There were many tips and stories that Mike shared; you'll want to hear them.
Listen to the episode here.

Connect with Julie Keyes, Keyestrategies LLC
Founder, Consultant, Author, Pod-caster and Instructor

Our show today featured Randy Van Rooyen and Jon Marquet, both with Trust Point, but in different roles. Randy is a financial advisor and in charge of strategic relationships for the firm, and Jon, a JD,  is in charge of business development for its three locations in LaCrosse and Eau Claire Wisconsin, and Minneapolis Minnesota. The firm practices internal collaboration amongst its many areas of expertise, which is rather impressive for an industry that tends to operate in silos. 

Trust Point offers services in several practice areas, namely Trustee services, 401K products, Wealth Management, and Family Office services. Their innovative and client-centric approach was the impetus behind Randy and Jon both acquiring their CEPA credential recently, so now Trust Point is officially offering exit planning services for its business owner clients; a natural add-on. 

Trust Point is over 100 years old and is independently owned. Many of its employees have worked for the firm for a long time, which says a lot about the great place that it is to work. Many of their clients are owners of private businesses, and we discussed a story of one such client that could have had a disastrous ending were it not for the knowledgeable and collaborative team that came to their rescue. 

Find out what happened by listening to the episode here.

Connect with Julie Keyes, Keyestrategies LLC
Founder, Consultant, Author, Pod-caster and Instructor

We had the pleasure of welcoming Barb Lau to the show in this episode. Barb is the Executive Director of the Association of Women Contractors. Barb has been the ED for AWC since 2008 and lots has changed since then. 

AWC was founded by 10 trailblazing women in the construction industry back in 1995; that's right, AWC turns 30 years old in 2025! Because it's been such a vital organization for a niche group of entrepreneurs, it's lasted the test of time and has been a staunch advocate for women in construction since the beginning. 

Barb talked about being invited to Washington (more than once) to give her input in front of congressional leaders who were seeking to learn more about the needs of women business owners and the particular hurdles they face. Things are better than they used to be, she said, but we still have work to do. 

We talked about the uncommon amount of support that AWC gives its members. The benefits of joining are evident in the testimonies of those who recently attended a networking Social; stories of how AWC had impacted their business were plentiful.

Learning that AWC is an anomaly in the US was quite surprising! Barb said the only other similar group representing women and minorities in construction was established in Houston, so for those in other markets, Barb grants her permission to use her ideas!

Listen to the interview here.

Connect with Julie Keyes, Keyestrategies LLC
Founder, Consultant, Author, Pod-caster and Instructor