Titles and Teamwork / by Kerri
Titles are important to understand the specialties, experience, and expertise advisors bring to your exit team. For exit planning, the attorneys, accountants, valuation experts, growth experts, wealth advisors on your team must be specialists in helping you cash out to achieve your goals, your dreams.
You can hire coaches to ask good questions and keep you accountable for the work to be done to plan and execute on your exit strategy.
You can hire consultants who can do many things for you: market research, competitive research, improve your sales results or reduce expenses to increase your profit margins.
It is essential to surround yourself with a team of experts who can collaborate (not compete with each other) to fulfill your goals and objectives on your terms, on your timeline.
That’s where I come in as a strategist. Sure, I bring coaching and consulting to the table, but my function extends much farther into your exit team, your organization and your reinvention.
I’m a specialist in engineering how you get the wealth out of your business. I’m an expert on preparing you, your company and your team for your exit to achieve your dreams. I’ve been hired by corporate leaders, fast-track entrepreneurs, royalty, family businesses, and multi-millionaires, among others.
You need your CFO, M&A attorney, tax attorney, insurance broker, wealth advisor, business broker/M&A/Investment Banker. You need all of them to get the deal that best serves all your goals for the team, your company and your future reinvention. They are transaction driven and work for closure. That’s their primary focus.
In contrast, my role as an exit strategist is to prepare you the owner, your business and your team for the transaction and transition in the years leading up to that milestone event, and developing your reinvention plan so it unfolds just as smoothly after the transaction event itself.
Titles aren’t everything. The licensed experts on your exit team don’t get paid to help you maximize the value of your business before the transaction. They don’t get into the business fundamentals, the growth strategies, cleaning up the financials, contingency planning, protecting IP, employee contracts to tie the team to the company beyond your departure, succession planning, protecting and preserving your wealth goals, minimizing both your tax concerns and the company’s tax impact.
They are your trusted advisors. They will advise you to do all of the above. And for a fee, they’ll work with you on these things outside their experience and expertise. But it’s not their bailiwick. The data proves that this approach is failing you, the CEO. Only a dismal 10% of all sellers (business owner/CEOs like you) EVER close the deal, and complete the transaction in this model.
It takes 2-5 years to prepare you, your team and your business to transition to what’s next, profitably. That’s why This Way Out Group exists. This is the support, integration, and facilitation that an exit strategist from This Way Out Group provides.
If you have any questions relating to exiting your business, please email me. I’d be happy to assist in whatever way I can.