The Smart and Savvy Business Exit with Ellen McIlhenny

Stage V is an important time in the life of the business. The first and most important question as we enter stage V is, did we hit our goals and maximize our growth leaving as little as possible on the table? Stage IV should have been a “crazy” time of growth and now we shift our emphasis from revenue to profit. Today we will look back at Stage V to see just how well we did against the goals we set in Stage III.

Stage V is an important time in the life of the business. The first and most important question as we enter stage V is, did we hit our goals and maximize our growth leaving as little as possible on the table? Stage IV should have been a “crazy” time of growth and now we shift our emphasis from revenue to profit. Today we will look back at Stage V to see just how well we did against the goals we set in Stage III.

Stage V is an important time in the life of the business. The first and most important question as we enter stage V is, did we hit our goals and maximize our growth leaving as little as possible on the table? Stage IV should have been a “crazy” time of growth and now we shift our emphasis from revenue to profit. Today we will look back at Stage V to see just how well we did against the goals we set in Stage III.

Stage V is an important time in the life of the business. The first and most important question as we enter stage V is, did we hit our goals and maximize our growth leaving as little as possible on the table? Stage IV should have been a “crazy” time of growth and now we shift our emphasis from revenue to profit. Today we will look back at Stage V to see just how well we did against the goals we set in Stage III.

Solid contracts are necessary for the Stage V company. Prior to this you may not have spent a lot of time thinking about your agreements with both your suppliers and your customers. However, potential buyers and needed investors for a pivot will want to know that promises made to you from both groups will be enforceable if not delivered upon. This becomes especially vital if you are dependent on one supplier or if much of your revenue is recurring. This could have a major impact on the value of your business.

Solid contracts are necessary for the Stage V company. Prior to this you may not have spent a lot of time thinking about your agreements with both your suppliers and your customers. However, potential buyers and needed investors for a pivot will want to know that promises made to you from both groups will be enforceable if not delivered upon. This becomes especially vital if you are dependent on one supplier or if much of your revenue is recurring. This could have a major impact on the value of your business.

Solid contracts are necessary for the Stage V company. Prior to this you may not have spent a lot of time thinking about your agreements with both your suppliers and your customers. However, potential buyers and needed investors for a pivot will want to know that promises made to you from both groups will be enforceable if not delivered upon. This becomes especially vital if you are dependent on one supplier or if much of your revenue is recurring. This could have a major impact on the value of your business.

Solid contracts are necessary for the Stage V company. Prior to this you may not have spent a lot of time thinking about your agreements with both your suppliers and your customers. However, potential buyers and needed investors for a pivot will want to know that promises made to you from both groups will be enforceable if not delivered upon. This becomes especially vital if you are dependent on one supplier or if much of your revenue is recurring. This could have a major impact on the value of your business.

By the end of our time together I hope you will understand the importance of having your business valued. There are various reasons for a valuation and we will discuss those. There are also various methods used and you will need to determine which are most appropriate for your business.

By the end of our time together I hope you will understand the importance of having your business valued. There are various reasons for a valuation and we will discuss those. There are also various methods used and you will need to determine which are most appropriate for your business.

By the end of our time together I hope you will understand the importance of having your business valued. There are various reasons for a valuation and we will discuss those. There are also various methods used and you will need to determine which are most appropriate for your business.

By the end of our time together I hope you will understand the importance of preparation through an internal due diligence when preparing your company for sale. We will be building on last week's show where we talked about the exit plan in general. Today we will get into the documentation needed for the preparation. Below is a link to the show notes for last week's show:

By the end of our time together I hope you will understand the importance of preparation through an internal due diligence when preparing your company for sale. We will be building on last week's show where we talked about the exit plan in general. Today we will get into the documentation needed for the preparation. Below is a link to the show notes for last week's show:

By the end of our time together I hope you will understand the importance of preparation through an internal due diligence when preparing your company for sale. We will be building on last week's show where we talked about the exit plan in general. Today we will get into the documentation needed for the preparation. Below is a link to the show notes for last week's show:

By the end of our time together I hope you will understand the importance of preparation through an internal due diligence when preparing your company for sale. We will be building on last week's show where we talked about the exit plan in general. Today we will get into the documentation needed for the preparation. Below is a link to the show notes for last week's show:

As a Fractional CFO I work with business owners every day. I work with a wide variety anywhere from a few hundred thousand in annual revenue to tens of millions in revenue. These businesses are in many different stages, but one thing is universal in my dialogue with them. What are your exit plans? And have you started thinking about and more importantly preparing for your ultimate exit. And yes, everyone will eventually exit…one way or another. Today's show will hopefully answer the question. Why should I build it to sell it now? I don't plan to sell for many years.

As a Fractional CFO I work with business owners every day. I work with a wide variety anywhere from a few hundred thousand in annual revenue to tens of millions in revenue. These businesses are in many different stages, but one thing is universal in my dialogue with them. What are your exit plans? And have you started thinking about and more importantly preparing for your ultimate exit. And yes, everyone will eventually exit…one way or another. Today's show will hopefully answer the question. Why should I build it to sell it now? I don't plan to sell for many years.

As a Fractional CFO I work with business owners every day. I work with a wide variety anywhere from a few hundred thousand in annual revenue to tens of millions in revenue. These businesses are in many different stages, but one thing is universal in my dialogue with them. What are your exit plans? And have you started thinking about and more importantly preparing for your ultimate exit. And yes, everyone will eventually exit…one way or another. Today's show will hopefully answer the question. Why should I build it to sell it now? I don't plan to sell for many years.

As a Fractional CFO I work with business owners every day. I work with a wide variety anywhere from a few hundred thousand in annual revenue to tens of millions in revenue. These businesses are in many different stages, but one thing is universal in my dialogue with them. What are your exit plans? And have you started thinking about and more importantly preparing for your ultimate exit. And yes, everyone will eventually exit…one way or another. Today's show will hopefully answer the question. Why should I build it to sell it now? I don't plan to sell for many years.

Today we will talk about one of the value drivers that was outlined in John Warrillow's book Built to Sell We will be talking about recurring revenue which was the topic of his book The Automatic Customer 

Today we will talk about one of the value drivers that was outlined in John Warrillow's book Built to Sell We will be talking about recurring revenue which was the topic of his book The Automatic Customer 

Today we will talk about one of the value drivers that was outlined in John Warrillow's book Built to Sell We will be talking about recurring revenue which was the topic of his book The Automatic Customer 

Today we will talk about one of the value drivers that was outlined in John Warrillow's book Built to Sell We will be talking about recurring revenue which was the topic of his book The Automatic Customer 

Today we will be talking to Mike Metzger of Murphy Business Sales. He is a business broker based in Richmond, Virginia. As you know a broker is an important part of the transition team we talked about in episodes 13-16 of my podcast – Show title “The Exit Plan”..

Today we will be talking to Mike Metzger of Murphy Business Sales. He is a business broker based in Richmond, Virginia. As you know a broker is an important part of the transition team we talked about in episodes 13-16 of my podcast – Show title “The Exit Plan”..

Today we will be talking to Mike Metzger of Murphy Business Sales. He is a business broker based in Richmond, Virginia. As you know a broker is an important part of the transition team we talked about in episodes 13-16 of my podcast – Show title “The Exit Plan”..

Today we will be talking to Mike Metzger of Murphy Business Sales. He is a business broker based in Richmond, Virginia. As you know a broker is an important part of the transition team we talked about in episodes 13-16 of my podcast – Show title “The Exit Plan”..

Interview with Tricia Dunlap of Dunlap Law LLP. We talk about the importance of have a business attorney on the transition team.

Interview with Tricia Dunlap of Dunlap Law LLP. We talk about the importance of have a business attorney on the transition team.

Interview with Tricia Dunlap of Dunlap Law LLP. We talk about the importance of have a business attorney on the transition team.

Interview with Tricia Dunlap of Dunlap Law LLP. We talk about the importance of have a business attorney on the transition team.

Discussion with Debi Corrie - Owner of Acumaxum - CFO Services Firm in St. Louis, MO. We are discussing her new book Loving Failure - Getting Control of Your Business Health.

Discussion with Debi Corrie - Owner of Acumaxum - CFO Services Firm in St. Louis, MO. We are discussing her new book Loving Failure - Getting Control of Your Business Health.

Discussion with Debi Corrie - Owner of Acumaxum - CFO Services Firm in St. Louis, MO. We are discussing her new book Loving Failure - Getting Control of Your Business Health.

Discussion with Debi Corrie - Owner of Acumaxum - CFO Services Firm in St. Louis, MO. We are discussing her new book Loving Failure - Getting Control of Your Business Health.

Recap of Season Three

Recap of Season Three

Recap of Season Three

Recap of Season Three

An overview of our upcoming season 4 shows.

An overview of our upcoming season 4 shows.

An overview of our upcoming season 4 shows.

An overview of our upcoming season 4 shows.

Interview with Rebecca Graf about the challenges in selling a family business.

Interview with Rebecca Graf about the challenges in selling a family business.

Interview with Rebecca Graf about the challenges in selling a family business.

Interview with Rebecca Graf about the challenges in selling a family business.

Today we will talk about building value by succession planning and building a strong management team.

Today we will talk about building value by succession planning and building a strong management team.

Today we will talk about building value by succession planning and building a strong management team.

Today we will talk about building value by succession planning and building a strong management team.

Today we will talk about how having strong vision and core values is important to building value in a company.

Today we will talk about how having strong vision and core values is important to building value in a company.

Today we will talk about how having strong vision and core values is important to building value in a company.

Today we will talk about how having strong vision and core values is important to building value in a company.

Part Three of our Building Value Series talks about how recruiting and retaining a great workforce will increase the value of your business.

Part Three of our Building Value Series talks about how recruiting and retaining a great workforce will increase the value of your business.

Part Three of our Building Value Series talks about how recruiting and retaining a great workforce will increase the value of your business.

Part Three of our Building Value Series talks about how recruiting and retaining a great workforce will increase the value of your business.

In this segment of the building value series we talk about how good marketing can build value in your business.

In this segment of the building value series we talk about how good marketing can build value in your business.

In this segment of the building value series we talk about how good marketing can build value in your business.

In this segment of the building value series we talk about how good marketing can build value in your business.

We discuss today how we can build value with great Financial Statements

We discuss today how we can build value with great Financial Statements

We discuss today how we can build value with great Financial Statements

We discuss today how we can build value with great Financial Statements

Today we talk about the unique challenges and advantages of doing a Family Business Transfer.

Today we talk about the unique challenges and advantages of doing a Family Business Transfer.

Today we talk about the unique challenges and advantages of doing a Family Business Transfer.

Today we talk about the unique challenges and advantages of doing a Family Business Transfer.

Today we talk to my friend and serial entrepreneur Jill Tuchmann, who just recently successfully sold her third company.

Today we talk to my friend and serial entrepreneur Jill Tuchmann, who just recently successfully sold her third company.

Today we talk to my friend and serial entrepreneur Jill Tuchmann, who just recently successfully sold her third company.

Today we talk to my friend and serial entrepreneur Jill Tuchmann, who just recently successfully sold her third company.

Today we will explore why it is important to have a CPA on you exit team. Selling a business has huge tax implications. A CPA will help you keep more of your hard earned money.

Today we will explore why it is important to have a CPA on you exit team. Selling a business has huge tax implications. A CPA will help you keep more of your hard earned money.

Today we will explore why it is important to have a CPA on you exit team. Selling a business has huge tax implications. A CPA will help you keep more of your hard earned money.

Today we will explore why it is important to have a CPA on you exit team. Selling a business has huge tax implications. A CPA will help you keep more of your hard earned money.

This week we look at how important it is to know the potential buyer's intensions about the future of the company you are selling.

This week we look at how important it is to know the potential buyer's intensions about the future of the company you are selling.

This week we look at how important it is to know the potential buyer's intensions about the future of the company you are selling.

This week we look at how important it is to know the potential buyer's intensions about the future of the company you are selling.

In this episode I recap all the shows from season four. A lot of good information. Download the show notes below to get links to all the podcasts. https://www.ibgr.network/show_notes/the-smart-and-savvy-exit-season-four-review-ellen-mcilhenny

In this episode I recap all the shows from season four. A lot of good information. Download the show notes below to get links to all the podcasts. https://www.ibgr.network/show_notes/the-smart-and-savvy-exit-season-four-review-ellen-mcilhenny

In this episode I recap all the shows from season four. A lot of good information. Download the show notes below to get links to all the podcasts. https://www.ibgr.network/show_notes/the-smart-and-savvy-exit-season-four-review-ellen-mcilhenny

In this episode I recap all the shows from season four. A lot of good information. Download the show notes below to get links to all the podcasts. https://www.ibgr.network/show_notes/the-smart-and-savvy-exit-season-four-review-ellen-mcilhenny

Today I interview Mary Ashby a Financial Advisor about why she is an important member of the exit team.

Today I interview Mary Ashby a Financial Advisor about why she is an important member of the exit team.

Today I interview Mary Ashby a Financial Advisor about why she is an important member of the exit team.

Today I interview Mary Ashby a Financial Advisor about why she is an important member of the exit team.

Today we talk about what is on tap for the upcoming season. A lot of great topics!

Today we talk about what is on tap for the upcoming season. A lot of great topics!

Today we talk about what is on tap for the upcoming season. A lot of great topics!

Today we talk about what is on tap for the upcoming season. A lot of great topics!

Today I interview Wendy Dickinson owner of Ascend Coaching Solutions, LLC. Our topic is the importance of considering culture fit when selling your business.

Today I interview Wendy Dickinson owner of Ascend Coaching Solutions, LLC. Our topic is the importance of considering culture fit when selling your business.

Today I interview Wendy Dickinson owner of Ascend Coaching Solutions, LLC. Our topic is the importance of considering culture fit when selling your business.

Today I interview Wendy Dickinson owner of Ascend Coaching Solutions, LLC. Our topic is the importance of considering culture fit when selling your business.

Today I talk about how an Employee Stock Ownership Plan might be a valid exit strategy for some.

Today I talk about how an Employee Stock Ownership Plan might be a valid exit strategy for some.

Today I talk about how an Employee Stock Ownership Plan might be a valid exit strategy for some.

Today I talk about how an Employee Stock Ownership Plan might be a valid exit strategy for some.

Today I have a conversation with Rob YB Youngblood of YBConnects, LLC. Rob is also the President of Sales at Self Publish -N- 30 Days. We talk today about life after the sale of your business. What about writing a book?

Today I have a conversation with Rob YB Youngblood of YBConnects, LLC. Rob is also the President of Sales at Self Publish -N- 30 Days. We talk today about life after the sale of your business. What about writing a book?

Today I have a conversation with Rob YB Youngblood of YBConnects, LLC. Rob is also the President of Sales at Self Publish -N- 30 Days. We talk today about life after the sale of your business. What about writing a book?

Today I have a conversation with Rob YB Youngblood of YBConnects, LLC. Rob is also the President of Sales at Self Publish -N- 30 Days. We talk today about life after the sale of your business. What about writing a book?

Today I talk about how exiting your business doesn't always mean you need to sell.

Today I talk about how exiting your business doesn't always mean you need to sell.

Today I talk about how exiting your business doesn't always mean you need to sell.

Today I talk about how exiting your business doesn't always mean you need to sell.

Today I talk about selling to your management team as an exit strategy.

Today I talk about selling to your management team as an exit strategy.

Today I talk about selling to your management team as an exit strategy.

Today I talk about selling to your management team as an exit strategy.

Today I talk about Mergers and how they can be used as an exit strategy and how they differ from the others.

Today I talk about Mergers and how they can be used as an exit strategy and how they differ from the others.

Today I talk about Mergers and how they can be used as an exit strategy and how they differ from the others.

Today I talk about Mergers and how they can be used as an exit strategy and how they differ from the others.

Today we talk about different strategies to optimize cash flow.

Today we talk about different strategies to optimize cash flow.

Today we talk about different strategies to optimize cash flow.

Today we talk about different strategies to optimize cash flow.

Today I talk to business owner Bryan Sklar about what a successful sale of a business looks like.

Today I talk to business owner Bryan Sklar about what a successful sale of a business looks like.

Today I talk to business owner Bryan Sklar about what a successful sale of a business looks like.

Today I talk to business owner Bryan Sklar about what a successful sale of a business looks like.

Today's episode was all about confidentiality and why it is so important when trying to sell your business.

Today's episode was all about confidentiality and why it is so important when trying to sell your business.

Today's episode was all about confidentiality and why it is so important when trying to sell your business.

Today's episode was all about confidentiality and why it is so important when trying to sell your business.

Today we talk about whether you should expand your Stage Five Business before selling.

Today we talk about whether you should expand your Stage Five Business before selling.

Today we talk about whether you should expand your Stage Five Business before selling.

Today I talk about how to handle an unsolicited offer for your company.

Today I talk about how to handle an unsolicited offer for your company.

In this segment I go into more depth on franchising your business.

Today we look back on the last twelve weeks of Season 5.

Today we look back on the last twelve weeks of Season 5.

Today we look back on the last twelve weeks of Season 5.

Today we look back on the last twelve weeks of Season 5.

Today I'll be doing an overview of season 6. Introduction to "The Big Turnaround"

Today I'll be doing an overview of season 6. Introduction to "The Big Turnaround"

Today I'll be doing an overview of season 6. Introduction to "The Big Turnaround"

Today I'll be doing an overview of season 6. Introduction to "The Big Turnaround"

Today we begin our discussion of the book "The Big Turnaround". We will meet the main characters and set up the events that will affect Burgess Industries for years to come.

Today we begin our discussion of the book "The Big Turnaround". We will meet the main characters and set up the events that will affect Burgess Industries for years to come.

Today we begin our discussion of the book "The Big Turnaround". We will meet the main characters and set up the events that will affect Burgess Industries for years to come.

Today we discuss chapters three and four of "The Big Turnaround". Our main character's working conditions further deteriorate but there may be a way out.

Today we discuss chapters three and four of "The Big Turnaround". Our main character's working conditions further deteriorate but there may be a way out.

Today we discuss chapters three and four of "The Big Turnaround". Our main character's working conditions further deteriorate but there may be a way out.

Today we discuss chapters three and four of "The Big Turnaround". Our main character's working conditions further deteriorate but there may be a way out.

Today we will talk about Burgess Industries' "New Direction". A lot of wasted time and money for very little return.

Today we will talk about Burgess Industries' "New Direction". A lot of wasted time and money for very little return.

Today's big takeaway is be sure to plan and budget when expanding into a new business segment.

The first in out Tuesday Tip segment: "Expect the Unexpected". We Entrepreneurs aren't as risk adverse as most, but we do need to be smart. Prepare for things that could go wrong.

Today we introduce a new character - Daryl the Disruptor. Things will start getting interesting at Burgess Industries

Today we introduce a new character - Daryl the Disruptor. Things will start getting interesting at Burgess Industries

In this segment we will talk about today's takeaway from the book is "Companies Need Strong Managers With Real Authority".

Today's Tuesday Tip is: Fishing Good... Phishing Bad

This week the team at Burgess Industries may have a way out once again. Bob is looking to sell. What happens this time?

This week the team at Burgess Industries may have a way out once again. Bob is looking to sell. What happens this time?

Today's big take-away from the book is perhaps instead of looking outside the company for the "Magic Bullet" that makes the company great, look within.

Today's Tuesday Tip is "Cultivate Creativity"!

Recap of Last week's episode - A Way Out - Part 2

Today we will continue our discussion of my book The Big Turnaround: How bad management nearly destroyed an exceptional company. Today we will be talking about chapter 8 “The SMT…or is it the SLT? – My inspiration for this chapter was Patrick Lencioni's “Five disfunctions of a Team”, with a dysfunctional twist.

This week's main take-away from the book – Micromanagement can do great damage to a company.

Today's “Tuesday Tip” – Don't be afraid to fire bad customers

Today we talk about how Burgess' management team undertakes the process of coming up with the company core values.

Today we talk about how Burgess' management team undertakes the process of coming up with the company core values.

Today's main takeaway from the book: Define your company's core values and ‘walk the walk'.

Today's Tuesday Tip: Find a Mentor; Become a Mentor.

Today Burgess decides to improve their community outreach efforts.

Today Burgess decides to improve their community outreach efforts.

Today's big takeaway from "The Big Turnaround" is give multiple people your ear.

Today's Tuesday Tip is "Begin with the End in Mind". A very appropriate quote by Stephen Covey when it comes to starting a small business.

Burgess Industries is moving. What a Mess!

Burgess Industries is moving. What a Mess!

Take Away #9 from "The Big Turnaround". When you move your office, plan, budget and implement.

Today's Tuesday Tip - ABR - Always Be Recruiting.

Today we will talk about two more chapters in "The Big Turnaround" - Enough is Enough and Mapping the Road to Recovery".

Today we will talk about two more chapters in "The Big Turnaround" - Enough is Enough and Mapping the Road to Recovery".

Today we will talk about two more chapters in "The Big Turnaround" - Enough is Enough and Mapping the Road to Recovery".

Today's Tuesday Tip: FOCUS, FOCUS, FOCUS.

We are in the final stretch of our review of "The Big Turnaround". Today we learn how they did it!

We are in the final stretch of our review of "The Big Turnaround". Today we learn how they did it!

We are in the final stretch of our review of "The Big Turnaround". Today we learn how they did it!

Today's Tuesday Tip - Reflection

This is our last episode of season 6. Today's Tuesday tip - Promote Your Customers.

This is our last episode of season 6. I hope you have enjoyed the book "The Big Turnaround - How Bad Management Nearly Destroyed an Exceptional Company"

This is our last episode of season 6. I hope you have enjoyed the book "The Big Turnaround - How Bad Management Nearly Destroyed an Exceptional Company"

This is our last episode of season 6. I hope you have enjoyed the book "The Big Turnaround - How Bad Management Nearly Destroyed an Exceptional Company"