#33 Season 3, Episode 6:  Maximizing Business Transitions: Insights from Sales Expert Jonathan Graviss

This podcast episode from the Business Owner Transition Podcast, hosted by Mike, features a detailed conversation with Jonathan Gravis, a career sales leader. Jonathan shares his extensive experience in building and managing high-performing sales teams, offering insights on hiring, training, motivation, compensation, and the importance of a strategic sales process. The discussion covers various aspects of sales management, including adapting to market changes like COVID, utilizing CRM tools effectively, fostering a positive sales culture, and devising incentive programs. Jonathan also emphasizes the importance of resilience, curiosity, and personalized coaching in driving sales team success. The episode aims to guide business owners in refining their sales strategies and enhancing team performance to maximize transaction value during business transitions.

01:09 The Importance of Sales Teams in Business

02:22 Building a High Performing Sales Team

03:38 The Role of Resilience in Sales

09:23 The Importance of a Good CRM Tool

11:03 Key Performance Indicators in Sales

14:01 Sales Leadership and Team Development

17:05 Understanding the Sales Process

18:53 Overcoming Sales Challenges

19:52 The Importance of Customer Needs Analysis

21:56 The Role of Trust in Sales

22:47 Managing Sales Teams

23:45 Designing Effective Compensation Plans

24:59 Sales Incentive Programs

27:21 Engaging with Your Sales Team

29:58 Transforming Sales Culture for Success

31:35 Wrapping Up: The Long Game of Sales

#32 Season 3, Episode 5: Business Leader Mindset and the Impact of Wrong Choices

This episode of the 'Business Owner Transition' continues Mike's discussion with TD Smyers of the "No Clichés" podcast and owner of aboldleader.com. They explore the necessity of great leadership in both thriving and struggling businesses and discuss how problems arise when a leader suitable for a turnaround situation is in charge of a successful business and vice versa. The discussion focuses on implementing changes in flourishing and failing companies. They underscore the importance of bringing in an external coach to guide the leadership transition, highlighting the potential adverse consequences of getting it wrong.

01:00 The Consequences of Hiring the Wrong Leader and understanding the Concept of Mission Mismatch

03:20 The Impact of Wrong Leadership on a Thriving Company

06:51 The Role of Ownership in Leadership Decisions

15:36 The Impact of Leadership Mindset Mismatch on Business

17:17 The Importance of Seeking Help in Business Transition

20:10 Conclusion: The Role of Elite Exit in Business Transition

#31 Season 3, Episode 4: This podcast tackles the contrasting roles of leaders in a healthy, well-run organization versus a struggling or failing company, highlighting the inherent difficulties and benefits of each situation.

The speakers discuss how leaders in healthy companies can struggle due to resistance from the board and employees when trying to foster innovation and change, while leaders in struggling companies are more in line for revolutionary changes, though often at a faster pace. The hosts argue that the best leaders in both situations engage and inspire their teams. They discuss some key attributes for individuals taking on a leadership role; ability to take decisive action, restore confidence, navigate resistance to change, and revamp culture. Another crucial factor is the loneliness that comes with the top position in a company, underscoring the importance of having someone by your side for support, either in the form of a coach or a trusted advisor.

This podcast also talks about succession planning and urges leaders and founders to understand their strengths and limitations in terms of duration at the executive level.

00:47 Challenges of Leading a Troubled Company

01:19 The 'On the Bus or Off the Bus' Speech

03:15 The Importance of Team Alignment 03:40

05:12 The Role of a CEO in a Failing Company

11:01 The Importance of Succession Planning

22:37 The Loneliness of Leadership

24:45 The Value of a Trusted Coach

Season 3, Episode 3: The Business Owner Transition Podcast: Exploring Transformational Leadership Styles in Thriving Companies with organizational leadership expert T.D. Smyers  https://aboldleader.com/about 

Download 10 Questions To Ask A New President For Your Thriving Company:  https://www.eliteexit.com/blog/key-interview-questions-to-ask-a-new-president-for-your-thriving-company

This episode of the Business Owner Transition Podcast explores the required attributes of newly instated executives in profitable businesses. The conversation delves into the art of enhancement, which involves a slow transition, and the influence that engagement, motivation, collaboration, innovation, cultural core competency, growth focus, and balance of stability and agility have on company success.

In conclusion, the importance of self-awareness, change with a purpose, the ability to evolve, and caution towards risk aversion are underlined as keys to a successful transition. Upcoming in the series is a discussion about leadership styles for companies not currently performing at their peak.

01:03 Discussion on Elite Preparation for Business Transition 02:57

Introduction of Guest Speaker - TD Smyers - TD Smyers' Career Journey and Expertise

07:17 The Art of Enhancement in Transformational Leadership

10:55 The Importance of Collaboration and Innovation in Leadership

18:50 Understanding the Role of Culture in a Thriving Business

22:16 Balancing Stability and Agility in Business Growth

27:23 Dealing with Resistance and Power Structures in Leadership

30:05 Conclusion and Preview of Next Episode

Elite Exit: Season 3 Episode 2:  Preparing for a Profitable Business Transition in 2024 This business owner transition podcast focuses on how to properly navigate the process of exiting a business.

Host Mike Quinlan talks with guests Rob Swartwood (https://www.consiliumls.com) and John Marsh (https://www.mcreek.com), about their experiences with business deals in 2023, lessons learned and what to expect in 2024. The conversation covers the importance of top line growth, the necessity to handle and present financial statements effectively, understanding and tracking revenue trends, and the significance of preparing ahead for due diligence. They suggest that proper preparation, diversifying revenue streams, and a strong client base could increase the business's value in the market. The overall message emphasizes taking proactive steps for better business and maximizing transaction value at the time of sale.

00:01 Introduction to the Business Owner Transition Podcast Part Two of Conversation with Rob Swartwood and John Marsh.

00:55 Importance of Top Line Growth in Business

01:07 Articulating Business Growth and Vision 01:37 Understanding the Story of Your Business

02:01 The Impact of Declining Revenue Growth on Business Deals and Understanding the Concept of 'Retrade' in Business Deals

03:25 The Importance of Business Growth and Profitability.  Challenges in the Growth Component of Business Deals.  The Role of Risk in Business Deals.  The Impact of Revenue Decline on Business Deals. Understanding the Importance of Top Line Revenue Growth

08:54 The Role of Financial Statements in Business Deals

17:18 The Importance of Documenting Operations in Business

23:11 The Importance of Diversifying Revenue Streams and Client Base

27:12 Outlook for 2024 and the Importance of Preparation

31:03 Conclusion and Final Thoughts

Episode 29: 2023 M&A Market Insights and 2024 Projections: How to Achieve Elite Business Exit In this first part of a two-part podcast, business owner transition expert, Mike Quinlan, discusses the 2023 M&A market trends and projections for 2024 with industry experts Rob Swartwood https://www.consiliumls.com/ and John Marsh https://www.mcreek.com/ . They delve into the importance of understanding and increasing cash flow and institutionalizing management for a self-managed business, The podcast also gives insights into correctly valuing businesses and preparing them for a market that has become increasingly scrutinizing. Tune in for practical advice to best position your company for sale.

In episode 28, Mike talks with Kevin Cumbus, founder, and President of TUSK Partners.  Kevin and his team focus on dental industry M&A and specifically sales to DSOs (Dental Service Organizations) and are the preeminent boutique firm in the dental space. Key points in the podcast include:

14:00. Organizational complacency and how the buyer capitalizes on your inefficiency

20:30. What value are you most interested in maximizing?

26:10. Personal financial preparation and how it impacts your deal

30:00. The structure of your deal and rollover equity - what does that mean?

40:00. What mistakes do business owners make when trying to sell the business without representation?

46:50. Unsolicited offers - Is that your best price?

Contact Kevin and his team at: https://tusk-partners.com

or 704-302-1043

In today’s podcast, we talk about elements of the “G” and the “O” of the I.M.G.O.O.D. Checklist™.  Specifically, we discuss increasing the topline growth of your dental business by simply dialing up the efficiency and effectiveness of your existing front office staff.

My guest today is Amol Nirgudkar, the founder and CEO of Patient Prism.  As a CPA, business consultant, author, entrepreneur, and former owner of several dental practices, he has 20 years of experience working with dental practices and groups.  He also serves on multiple large dental service organization boards.

Key conversations in the podcast:

03:20 - Amol's thoughts on the dental industry

08:40 - What are DSOs looking for when partnering with a dental business?

14:00 - What improves transferrable value in the dental business?

18:15 - What are the key macro and micro metrics DSOs look at?

Please review the Patient Prism website at https://www.patientprism.com

Find out more about Amol at https://www.linkedin.com/in/amolnirgudkar/

In this episode, Mike talks with Dee Fischer the CEO of Fischer's Professional Group.  Dee is a prolific influencer in the dental industry.  Her company helps dental business owners maximize transaction value through implementing high-performing systems, extraordinary culture, and substantial team building.  She is a highly regarded speaker and appears at all of the top industry events.  

Significant points in the interview:

4:30. Dee comments on the status of the dental industry

8:38. Dee tells us what DSOs are looking for in acquisitions

10:00.  Dee tells us her due diligence focus when looking to acquire companies

14:53.  Dee discusses the importance of micro-metrics and how they tell the story of your business

20:33.  Are you overstaffed?

28:15.  Dee gives her insights on the greatest opportunity for dental business growth

31:00.  Dee discusses her engagement process

34:00.  Dee's thoughts on why dental business owners are not happy after they sell.

38:00.  Dee's parting thoughts

Contact Dee at:  fischerspro.com or 321-228-7605

In this episode, Mike talks with Gary Bird.  Gary is one of the formost experts on marketing for dental business owners.  He is the founder of SMC National and the popular Dental Marketing Theory podcast.  Mike and Gary talk about metrics and micro-metrics to laser focus your marketing spend.  They discuss how to determine how much you should be spending on marketing.  Spoiler Alert:  He tells you not to let a marketing team answer that question for you!  They also discuss what dental owners should be doing in the last three years prior to an exit to achieve the ELITE exit.

https://thegarybird.com

https://smcnational.com