THE BUSINESS OWNER S ROADMAP: How I Use Exit Planning as My Business Strategy By Scott D. Snider, Vice President of the Exit Planning Institute, Operating Partner of Snider Premier Growth
I am an entrepreneur. And in 2010, I transitioned my first company. A company that I started from the ground up and from an early age. I launched when I was 15, incorporated when I was 17, achieved significant growth by the time I was 21, and staged for a successful third party sale as I turned 24. It was an incredible, all-consuming, rewarding, life-changing experience. But that is what being a business owner is. You live today the way most people won t, working toward the goal of living in the future the way most people can t. The exit of my business forced me to reevaluate my life and frankly, my identity. Thankfully, I had done a lot of things right to prepare for sale and was able to successfully harvest the wealth locked up in my business which gave me the freedom and space to move forward into my next endeavor with confidence and comfort. I largely attribute the success of my sale to Chris, my father and business partner. A Certified Exit Planning Advisor (CEPA) who works with middle market business owners to help them rapidly grow the value of their business, prepare personally and financially for their third act, and cash out the wealth that resides inside their most significant financial asset using the Value Acceleration Methodology framework. Begin with the end in mind Covey said. And that s what Chris and exit planning helps owners do. It changes the way business owners think by helping them understand that exit planning and value acceleration is simply good business strategy. And that your business is ultimately only worth what someone will pay for it. You learn the rhythm, systems, and strategies that build a company with TransferAbility.
After selling my business, I joined my father s consulting firm. As a former owner who had experienced the launch, growth cycle, and sale of a business, I developed a passion for helping others do the same. Simultaneously, we formed a family investment company, Snider Premier Growth, with the vision and strategy to acquire income producing small businesses. And with that, we began the search for high potential companies we could obtain and rapidly grow. Our first acquisition was the Exit Planning Institute. EPI appealed to us, both from a market opportunity standpoint and because it was a platform for us to continue to do what we are passionate about: training advisors to truly help owners learn how to successfully grow and exit their business. So in 2012, we bought EPI and set ourselves on a path to truly serve the national and global market of business owners and top-tier advisors. Four years later, I have seen this industry evolve swiftly as more and more Baby Boomer business owners approach retirement and have experienced this marketplace from three different viewpoints: Business Owner, Advisor, and Educator. And I can tell by surrounding myself and interacting with advisors like Certified Exit Planning Advisors (CEPAs) and by incorporating concepts and processes within books like Walking to Destiny: 11 Actions An Owner Must Take To Rapidly Grow Value & Unlock Wealth, a book rooted in value acceleration, it has changed the way I do business from both strategic and operational perspectives.
How to Use the Value Acceleration Methodology Every year in the fall, EPI hosts the nation s top exit planning and value acceleration conference, the EPI International Summit with its education rooted in the same concepts taught to advisors nationally and globally. If you are a business owner (whether a Boomer thinking about transitioning within the next several years or a younger entrepreneur like I was starting out or with a focus on growth), the Summit is where you need to be come September 19 and 20. In fact, I don t think there is anything more valuable you can do with a day and a half of your time then immerse yourself in this knowledge, this community, and this culture. Education is your key to understanding how you can see your business through to the next buyer, next generation, and next stage of its lifecycle. The Summit is set in an interactive, workshop-style atmosphere. Coupled with bringing together some of the nation s best M&A, value growth and transition experts and specialists. Meet and learn from owners like Chris Snider, author of Walking to Destiny: 11 Actions An Owner Must Take To Rapidly Grow Value & Unlock Wealth, Dennis Roberts who founded and transitioned one of the nation s most reputable investment banking firms; both entrepreneurs turned advisors to owners and mentors to other advisors. The Summit is packed with education like the 5 Stages of Value Maturity, the Psychology of an Exit and how to find you next passions in life post-transition, and a session on Tax Magic, how sellers can allocate the sale price of the company to produce the lowest possible tax situation. An unmissable session is will be a panel of exited owners. They will take the stage to discussion their transitions and the challenges and opportunities they faced throughout the process. Your transition doesn t have to be foggy and unclear. Learn from others successes and failures. Bring exit planning into the present. The Summit is the place for owners and advisors who are invested in growing business value and unlocking wealth.
Coming to Las Vegas this September. It s time to change your outcome. Get more information about the 2016 EPI International Summit and other educational opportunities by visiting www.exitplanningconference.com and by clicking to request your complimentary copy of Chris Snider s new book on value acceleration.