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PODCAST

ExitReadiness®️ PODCAST

ENNIS Legacy Partners

Most business owners will leave their business one day. Few are ready when that day comes. The ExitReadiness® Podcast helps you change that.Hosted by Pat Ennis, CExP™ and Walter Deyhle, CPA, CExP™, CEPA of ENNIS Legacy Partners, each episode features candid conversations with subject-matter experts across M&A, finance, law, leadership, and personal planning — giving you the practical insights you need to build a sellable business and exit on your own terms and conditions.Topics include building

business entrepreneurship

All Episodes

34:24

Estate Planning for Business Owners Ft. Attorney...

ExitReadiness®️ PODCAST ·

2022/10/19

Want to learn more? Go to: ennislp.com============================================“We want you to help you build a business that is sellable and exitsuccessfully on your own terms and conditions.” - Pat Ennis============================================👇Subscribe To The Channel By Clicking Below!👇CHECK OUT THESE TOP TRENDING PLAYLISTS NOW! ExitReadiness Podcast: https://youtube.com/playlist?list=PLENXepxD6Ej2xh-2-WXwKKQHbad2sQfD-Live Events:

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46:23

An Alternative to Non-Qualified Deferred Compensation...

ExitReadiness®️ PODCAST ·

2022/10/05

Non-Qualified Deferred Compensation is an unfunded, unsecured promise by the employer to a key employee to pay compensation at a specific time or upon a specific event in the future. The program is a contract between the employer and the key employee for the payment of future benefits. As we help Business owners plan for their exit nonqualified deferred compensation can be a very viable solution for attracting, retaining, and rewarding key employees. It can also be used as a key piece in structuring

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33:04

Selling Your Business to Insiders – Part Two

ExitReadiness®️ PODCAST ·

2022/09/21

We would strongly encourage listening to Part One which is Episode 102 if you’re at all thinking that a sale to insiders could be a possibility and you have yet to do so…Today in Part Two we want to review some common mistakes that we would counsel against …#1 – Selling too much stock too soon#2 – Including too many employees in the key employees group #3 – Including employees in the key employees group who don’t like each other#4 – Communicating with the Insiders

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37:04

Selling Your Business to Insiders - Part One

ExitReadiness®️ PODCAST ·

2022/08/31

In the work we do, we are agnostic as to how an owner exits. We want to help the owner, or owners, first clarify and establish their financial and values-based goals for exit and then identify and plan for the exit route that will best attain their goals.Want to learn more? Go to: ennislp.com============================================“We want you to help you build a business that is sellable and exitsuccessfully on your own terms and conditions.” - Pat

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26:37

Testing the Waters Is A Bad Idea

ExitReadiness®️ PODCAST ·

2022/08/17

It’s not unusual for us to hear from clients or prospective clients that they want to “test the waters” in selling their business. In other words, take it to market “as is” and see what happens.This is one of the areas, where the phrase “I don’t know what I don’t know” can result in a bad idea…In his book, The Art of Selling Your Business, John Warrillow says, “you don’t want to put your business on the market unless you’re fully committed to seeing it through…”A book we’d highly recommend by the

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29:29

Business Continuity: A Plan For The Unexpected

ExitReadiness®️ PODCAST ·

2022/08/03

The problem that we're going to be discussing today is your business continuing if you are no longer available to run it…- Most business owners would want their business to continue... for at least a period of time... if they were to unexpectedly die or become permanently incapacitated.- But all too often…due to a lack of pre-planning…the business dies when the owner can no longer be available due to one of these situations…impacting negatively the employees, customers, and all stakeholders…but most

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40:20

Why Do I Need To Start Planning Now???

ExitReadiness®️ PODCAST ·

2022/07/20

If you’ve been a regular listener, you’ve heard our consistent exhortation to “start planning now! Because it takes longer than you think to get ready for a successful exit -- if you wait to begin planning until you’re quote ‘ready to exit’ then you and your business won’t be ready!” You’ve heard us say these things so many times your response might be something like, “OK start planning today, I get it, enough already!"Or perhaps you’ve had this thought, ”That sounds self-serving, get started

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30:39

Working Capital and Preparing for a Business Sale...

ExitReadiness®️ PODCAST ·

2022/06/30

An issue that is important but often overlooked by business owners when preparing their business for a sale is working capital with owners we’ve worked with there has been at least confusion as to how working capital should be considered or treated if not total neglect due to ignorance until the sale is being negotiated. So we want to bring some clarity today to this important but often overlooked planning issue as we discuss Working Capital and Preparing for a Business Sale Negotiation Want to

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31:34

Do You Have A Rembrandt In Your Business Attic? Ft....

ExitReadiness®️ PODCAST ·

2022/06/15

Today we want to talk about how accelerating business value and creating streams of revenue with your intellectual property or IP – this can easily be overlooked by small business owners…or if not overlooked completely, perhaps not prioritized as it should be.Just like many of the topics we discuss, it can be tough to know where to begin and some owners don’t have a clear understanding of what qualifies as IP, let alone how to monetize it creating value and growing revenue. Sometimes owners have

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36:54

Simplifying Your Website Marketing Strategy Ft....

ExitReadiness®️ PODCAST ·

2022/06/01

In building value, of course a steady increase in revenues is a key driver of value, and increasing revenues always involves some level of marketing strategy. Perhaps your strategy has been word-of-mouth and referrals, or mailers, or email campaigns and you have a website that you also consider to be instrumental in marketing your business. But your website is not creating revenue and you’re just not sure how to make that happen, or perhaps it just seems too complicated, so you haven’t taken any

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39:16

Boutique Professional Services Firms and Scalability...

ExitReadiness®️ PODCAST ·

2022/05/18

In his book The Boutique, author Greg Alexander describes a Boutique professional services firm as being past the start-up stage but pre-scale. Examples being found in consulting, marketing, advertising, IT, etc. Basically, anyone that sells their expertise, maybe even an accounting or exit planning firm.Greg explains in The Boutique how to start, scale, and sell a professional services firm and he is a very credible source as he has done just that successfully launched, scaled, and then sold his

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38:20

“Naming a Successor? That’s A Bit Difficult" Ft....

ExitReadiness®️ PODCAST ·

2022/05/04

We’re excited to have with us guests Elizabeth Carr Ph.D, and Attorney Cherie Morris.Elizabeth is the founder of Kentlands Psychotherapy which she launched in 2005 after serving six years as a Navy Clinical Psychologist. She continues to see some existing clients…but her role is now mostly one of leadership, administration, mentoring, and supervision of interns.Cherie is a lawyer and now a full-time conflict coach and transformational mediator. She is a student of relationships and has expertise in

en

36:35

The Intersection of Business Reputation and Cyber...

ExitReadiness®️ PODCAST ·

2022/04/20

In building a sellable business, you also need to “protect the value of your business” and continually manage areas of risk like the one we’re going to talk about today cyber security…This is an area of risk management that we highlight at least annually because it’s so important and relevant. And if you’ve listened to any of the past episodes on the topic you’ve heard us mention the following statistics… 43% of cyber-attacks target small businesses.60% of small businesses that are attacked go out

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43:36

A Successful ESOP Story Ft. Kris DenBesten

ExitReadiness®️ PODCAST ·

2022/04/06

Today we’re going to hear from a gentleman who has indeed exited on his own terms and conditions with the successful implementation of an ESOP or Employee Stock Ownership Plan.We occasionally have Keith Apton of the Capitol ESOP Group on to review the pros and cons and inter-workings of an ESOP…and we’d suggest that anyone interested in ESOPs go back and listen to those episodes…but today our guest is right now experiencing an ESOP as a selling owner.Todays’ topic is “A Successful ESOP Story” and

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41:34

My Employees Want Equity…What Should I Do? Ft. Paul...

ExitReadiness®️ PODCAST ·

2022/03/30

In building a sellable or transferable business a key value driver is a next level management team – a management team that can take your business to the next level of growth.And, deciding on the right plans to incentivize those key employees to grow the company as well as stay with the company requires careful and thoughtful planning.A very common question business owners face is when and if to award equity in their business to these key employees.For start-ups with an established goal of exit

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35:45

Buy-Side Considerations Ft. Laurie Barkman

ExitReadiness®️ PODCAST ·

2022/03/23

If you’ve listened in before, you know that we mostly cover topics of interest to owners who want to accelerate and protect the value of their business and then exit it…which often results in a third party sale.Today we are going to discuss some considerations on the buy-side or when someone is interested in buying a business…And, actually, buying a business, or having an acquisition strategy, may be part of your strategy for growth and building value…We’re going to talk about why a business owner

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35:17

Improving Processes with The Right Technology Ft....

ExitReadiness®️ PODCAST ·

2022/03/03

In building sellable or transferable value…there are key drivers of business value such as financial performance, a growth strategy, recurring revenue, a diversified customer base and strong systems and processes. And the right technology solutions are foundational to having strong and repeatable systems and processes.But it can be real tough to know what tech solutions are right for your business when there is an endless list of options, and possibly even tougher to get them implemented once

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25:29

The Importance of Listening Skills in Building the...

ExitReadiness®️ PODCAST ·

2022/02/16

In five words, Sir Richard Branson summed up his leadership credo in a Forbes interview: "Listen more than you talk."According to Branson, if you want to be a great leader, it’s more important to be a great listener than a great speaker because "nobody learned anything by hearing themselves speak."And, working with small business owners we have found Sir Richard’s exhortation to have proven results.The most successful business owners we work with the owners who realize consistent growth and

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31:23

Wrong Assumptions Resulting in Bad Exits Ft. John Dini

ExitReadiness®️ PODCAST ·

2022/02/02

One of our key value adds to client engagements is identifying and testing business owner assumptions pertaining to the exit of their business. Wrong assumptions can result in an unsuccessful or even bad exit. Assumptions about timing, potential owners and buyers, business value, and many other issues can result in a bad exit. And because owners don’t know what they don’t know they need help identifying their assumptions how those assumptions can negatively impact their eventual exit…and that is a

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30:28

Key Takeaways from the 2021 10X Exit Plan Summit Ft....

ExitReadiness®️ PODCAST ·

2022/01/19

In 2021, Walter and I both participated as Speakers in an impactful virtual exit planning conference 10X Live – The Exit Plan Summit, founded and hosted by today’s guest Scott Duke…Having built 11 companies, Scott is a lifetime entrepreneur. From hot dog carts to radio stations and multi-location sports facilities. Currently, Scott is the owner of OpnRoad, an M&A advisory firm servicing the construction sector. He is also the founder of Welstand Business Brokers and the managing broker of a chain

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185 results

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