Exit With Ease with Janise Graham and Diana Muphy, Part 4 - Building Your Dream Exit Team
In this episode of The Leaders Table, I sit down with Janice Graham to explore the essential steps for a successful business sale or exit, inspired by her book, Leaving In Style: Business Succession On Your Terms.
Listen in and hear:
The importance of recognizing what you don’t know and bringing in experts to help navigate the process.
How to identify and assemble a cohesive advisory team consisting of attorneys, bankers, CPAs, insurance professionals, and wealth advisors.
The key benefits of having a 'quarterback' to lead the team and ensure seamless collaboration among all advisors
Why it’s sometimes necessary to outgrow long-term advisors and bring in specialized experts for evolving business needs.
The critical roles of team synergy, regular meetings, and clear goal setting for a smooth business transition.
We even dive into the sensitive, yet crucial, topic of outgrowing long-term advisors and emphasize the value of having specialized experts guide your business transition. The episode wraps up with a sneak peek into our next topic: business valuation.
Time Stamps:
00:00 Introduction to the Leaders Table
00:49 The Importance of a Future-Focused Dream Team
02:09 Key Advisors for Business Success
04:04 The Role of Attorneys in Business Transactions
04:59 The Banker’s Crucial Role
05:41 CPAs: Beyond Taxes
06:31 Insurance Professionals and Risk Management
06:54 Wealth Advisors: Planning for the Future
08:47 Forming and Managing the Dream Team
12:54 Overcoming Challenges with Long-Term Advisors
14:36 The Gift of Letting Go: Understanding Competency
15:23 The Sweet Spot Movement: Aligning Roles with Expertise
15:55 Specialization in Advisory Roles
16:14 The Importance of Rational Decision-Making
16:52 Honoring Relationships While Transitioning
21:18 The Joy of Having the Right Team
23:45 The Value of Specialized Advisors
25:11 Upcoming Episodes and Closing Remarks