Why We Plan

There are several ways to get a business valuation, however, the process in which one might acquire a valuation can make or break your Exit Plan.

John Brown, Founder of BEI, sits down Richard Claywell, Owner of J. Richard Claywell, CPA, on his valuation process. Richard is a CPA but does not do account work. His primary services entail litigation related projects from forensic accounting, business valuations, and economic damages. He started conducting this work over 30 years ago and received his master’s in business valuations. Richard warns advisors to not just base their valuations on EBITDA. There are so many other factors to consider. Tune in to get tips and tricks on how to properly value a business.

Most people want to work with other individuals who they trust have a wealth of industry experience. A long-time BEI Member and old friend of John Brown’s, Larry Linne, CEO and President for InCite Performance Group, joins us to discuss the advice he would give to other advisors. Larry shares why it’s important to find your niche market and only work with specific business owners and industries.

Larry is a serial entrepreneur himself and planned his own exit through the BEI 7 Step Exit Planning Process. He discovered the need to support other business owners during his own transition and became a BEI Certified Exit Planner. He is also in the middle of writing two books on the planning process and explains what business owners need most is simply a guide. Larry and his consultants at InCite Performance Group are very heavily involved in every aspect of the business planning phases from executive development, business continuity, financial perpetuation strategy, etc. He has found so much success by finding his niche market and only working with particular industries. His clients want to work with him because he is more knowledgeable than an advisor that is willing to work with any business owner in any industry.

It can be intimidating working with business owners, especially as a new advisor. John Brown, Founder of BEI, sits down with Mark Willis, CFP Certified Financial Planner with Lake Growth Financial Services to discuss how he works with junior advisors to find success in their first few years in the industry.

Mark has a unique perspective on the financial advice that he shares with his client and often refers to himself as “not the average financial planner.” He often thinks outside of the box when it comes to sharing advice with business owner clients on the best ways to plan for the future. Mark shares some real-life stories of the unique strategies he has suggested to business owners with little to no market risk that supplied money for the business today while also saved funds for the inevitable exit at the same time. Tune in to learn some new tips and tricks from Mark.

In this episode of Why We Plan, John Brown, Founder of BEI, sits down with Donald Feldman, CExP, President and Founder of Keystone Business Transactions, LLC to discuss business valuations. Don has been providing business owners with business valuations for many years. He goes into what to look for, what they cost, and when you may or may not need a proper valuation. Don walks through the different kinds of variations available to business owners and the different software options available.

Don goes on to explain that sometimes a software evaluation is not enough. You can’t make major business decisions on a number with no context. You must be able to give the owner an objective understanding of the business’s strengths and weaknesses and give suggestions on how to improve the business. Tune in to learn everything you need to know about valuations.

Even advisors need to establish an Exit Plan. In this episode of Why We Plan, John Brown, Founder of BEI, interviews Jonathon DeYoe, Senior Vice President of EP Wealth Advisors, about his experience merging his practice into a larger firm.

Jonathon DeYoe was growing his financial advisor firm when his brother and COO of the company died in 2021. It was at this unfortunate turning point that Jonathon decided there were aspects of the firm that he did not want to take on. He made the decision to hire a team to help merge his financial advisor practice with a larger firm. Jonathon discusses the variables that go into a transition like this and lends advice to other advisors going through a similar scenario.

John Brown, Founder of BEI, sits down with Corwin Davidson, one of BEI’s newest Members, on the topic of how the BEI Certified Exit Planner Designation (CExP) established the foundation of Corwin's estate planning and Exit Planning Practice.

In this episode of Why We Plan, Corwin explains that he has always enjoyed learning and educating business owners on various planning approaches. He goes on to explain that the knowledge he learned from the BEI Exit Planning designation has changed how he engages clients in the Exit Planning conversation.

In this episode of Why We Plan, John Brown, Founder of BEI, sits down with BEI Member, D. Jeremy Pugliese, CExP, WMCP, RICP, Investment Advisor, for Planning Alliance, LLC, to discuss how Jeremy shows his worth to his business owner clients and proves the ROI for his services.

Jeremy talks about how he first got involved in financial planning and how he felt like he could do more for his clients. There is not a one–size –fits-all solution for financial planning and Exit Planning. Jeremy discusses how he has been able to produce unique solutions for his clients because of his extensive training. He discusses how he has found success in pricing his services and how at the end of the planning process, his clients want to continue their relationship with him. Tune in to learn how you can appropriately price your unique services, prove your ROI and build strong business relationships.

Christina Gamache, Owner & President of Audax Wealth Management, met with John Brown, Founder of BEI, to discuss the differences between working with female and male business owners. Christina helps her business owner clients uncover the gap between what they have on their balance sheet and what they need for retirement. In this podcast, she discusses the tools she suggests business owners use to build that bridge to close the gap.

Christina discusses how many women that are business owners often have different emotions associated with money than male business owners do. She finds that many women carry guilt or shame and do not pay themselves an appropriate wage. She often talks through the amount of money women need to take care of themselves and their families after the sale of the business. Christina goes on to explain that Alaska's many mom-and-pop shops struggled immensely during the pandemic. Many of the baby boomer, small business owners were not able to get what they deserved for their businesses because they were not educated in the Exit Planning Process and did not plan accordingly. Learn how you can help your entrepreneur clients avoid this mistake and be knowledgeable on how to build business value so that when the time comes for owners to leave their businesses, they can leave on their terms.

John Brown, Founder of BEI, sits down with BEI Member, David Seitter, M&A Attorney for Spencer Fane LLP, to discuss the ins and outs of Mergers and Acquisitions. David found that there are two transactions in this world that truly bring both parties what they want, adoption and M&A. If an acquisition is done correctly, everyone involved typically walks away with something they want.

David also shares that there is more to M&A than just the deal. He found interest in really understanding the seller's goals and aspirations for the business and for their family. He wants to learn what is motivating them to sell and why the buyer wants to buy. By getting a more comprehensive, holistic view of each person’s intentions, negotiations become easier, plans run smoother, and often there are more options available to each party.

Become a strategic advisor by incorporating Exit Planning strategies into your practice to offer even more to your business owner clients.

David also noticed that there is more to M&A than just the deal. He found interest in really understanding the seller's goals and aspirations for the business and for their family. He wanted to learn what was motivating them to sell and why the buyer wants to buy. If you are able to get a more comprehensive, holistic view of each person’s intentions, negotiations become easier, plans run smoother, and often there are more options available to each party. Become a strategic advisor by incorporating Exit Planning strategies into your practice to offer even more to your business owner clients.

In this episode of Why We Plan, John interviews Ed Bryan, Director of Business Development at SRA 831(b) Plan Administrators, on everything business owners and business advisors need to know about captive insurance, also known as 831(b) Plans.