Why We Plan

In our 100th episode of the Why We Plan podcast, BEI founder John Brown is joined by George Sandmann, CEO of Growth Drive, to discuss the topic of strategic planning and creating transferable value for owners. John and George dive into transferable value as an important metric for evaluating business success and its significance in exit planning. Furthermore, they emphasize the importance of forming a collaborative, multidisciplinary team to tackle challenges and objectives inherent in exit planning, underscoring the essence of a holistic approach in achieving success in the realm of business planning.

In this episode of "Why We Plan," John Brown, the founder of BEI, is joined by Dan Finn, the founder of Finn Financial Group, to discuss how business owners can reduce the tax impact of selling their business to a third party. Finn explains how Section 453 of the Internal Revenue Code can be used to take a cash sale and defer a portion of the proceeds, thereby reducing the tax obligation in the present and deferring it into the future. Brown and Finn discuss how this strategy can help business owners address the concerns of what they will do after they sell their business. They also note that this strategy is not new, but it is not yet widely known, and they encourage advisors to explore it further. Tune in to learn more about how deferring taxes with Section 453 can be a key element of Exit Planning.

In this episode of "Why We Plan," John Brown, founder of BEI, speaks with Casper Scott Yost, a Certified Exit Planner and Advisor. They discuss different learning tools and techniques available for business owners and their advisors to better plan for the exit from a business. Casper shares his experience with BEI's CExP program and continuing education requirements, which provide technical knowledge and expand the scope of working with family business owners. They also discuss the value of BEI's webinars, whitepapers, and podcasts for ongoing learning and development.

In this episode of "Why We Plan," host John Brown speaks with Michael Wildeveld, a business advisor and Certified Exit Planner who specializes in selling companies. Throughout the episode, Michael emphasizes that selling a business is not the only option for owners looking to exit. Michael discusses other Exit Planning strategies, such as ESOPs, majority-minority recapitalizations, and private equity sales with significant rollover equity. He emphasizes that proper planning and techniques are essential to achieving a fulfilling post-sale experience for business owners. The discussion also touches on the importance of the owner's continued involvement and fulfillment after the sale, and the minimum size required for these Exit Planning strategies to be viable.

In this podcast episode of "Why We Plan," John Brown interviews Keven Prather, a long-term member of BEI, who shares about a tool he uses to effectively communicate with his business owner clients. The tool is called the BEI insider plan spreadsheet, which lays out the net after-tax effects of an insider transaction, allowing for scenario analysis and tax planning. They also discuss the concept of selling for the lowest defensible value and the importance of building a key employee team. Additionally, they briefly touch on the topic of exit planning and the idea of bringing up an internal team instead of selling.

In this episode, estate planning lawyer Alex Weatherly talks about how he transitioned to being an exit planner, helping business owners transition their businesses to other family members or sell it. He discusses the importance of planning for business succession, as well as how estate planning is just one part of the overall planning process. Weatherly also shares some of his experiences with poorly planned business successions and the importance of considering family relationships in the planning process.

BEI founder and "Why we Plan" host John Brown talks to Daniel White, a first-year BEI Member, about the benefits of a cohesive Exit Planning process. Learn how Daniel's firm, Allen, Gibbs & Houlik, L.C., overcame challenges thanks to BEI's training and tools to create a clear process for business owners to exit on their terms.

Craig Rubrecht, CEO of Cornerstone Wealth Group, shares his experience adding Exit Planning to his firm's suite of financial services, which has allowed them to work with more business owners seeking to exit their companies. This episode explores how Rubrecht's firm has integrated Exit Planning into their existing services, and how the support from BEI and its membership community has helped them develop new competencies and capabilities in this area. Brown and Rubrecht discuss the challenges of implementing Exit Planning in real-life client situations and highlight the importance of the ongoing support and education that BEI offers its members.

Join us on the latest episode of "Why We Plan", the podcast by BEI Exit Planning. Host John Brown, founder of BEI, and expert guest Nick Niemann delve into the world of Exit Planning and family-run businesses. Nick, a family business continuity attorney, shares his unique approach to Exit Planning that focuses on the continuity and success of the business, employees, and clients. Discover the importance of treating colleagues like family and the impact of a thought-out Exit Plan on everyone involved. Tune in now to gain valuable insights and expert advice on Exit Planning.

In this episode of Why We Plan, John Brown interviews Scott Bushkie of Cornerstone Business Services, Inc. on his experience in Exit Planning and working with BEI. Scott and his team at Cornerstone Business Services offer concierge M&A services for the lower middle market, with the goal of maximizing value for businesses through high-quality services that surpass the typical offerings of a business broker.

Scott highlights best practices regarding identifying potential buyers and how his team takes a proactive approach to Exit Planning. Listen now to find out how Scott assists a variety of businesses and how you can leverage BEI’s tools to help your clients throughout the Exit Planning process.