Shows
Exitology: Unlock Your Profits, Unlock Your PotentialS13 E28: Colorados Tax Credit for ESOPs Great for Manufacturing Companies with David Blauzvern and Jordan Burg and Jason Wally WaldronCSG Partners - David Blauzvern, VP and Jordan Burg, CMO. Since 2000, CSG Partners has helped hundreds of closely-held companies nationwide realize the unique benefits of employee stock ownership plans (ESOPs).
Intersection of ESOPs and Office of Economic Development and International Trade and forward thinking of Jared Polis and Colorado legislature.
Colorado employee ownership tax credit passed two pieces of legislation for ESOP incentives.
Colorado believes in keeping business in Colorado and creating wealth across the spectrum.
CSG Partners is working with the Employee Ownership Commission to expand ESOP formation in Colorado.
2023-07-1513 minExitology: Unlock Your Profits, Unlock Your PotentialS13 E27: Who Can Use an ESOP and When with David Blauzvern and Jordan Burg and Jason Wally WaldronCSG Partners - David Blauzvern, VP and Jordan Burg, CMO. Since 2000, CSG Partners has helped hundreds of closely-held companies nationwide realize the unique benefits of employee stock ownership plans (ESOPs).
What are the commonalities with ESOP and Exit Strategies? - multi-generational and family owned and owners aging and easing out.
Massive client concentration risk (manufacturing industries)ESOP can be a great fit for dozens of industries providing significant tax benefits and asset depreciation recapture.Firms with High Relative PayrollsFirms with Significant Hard Assets/High DepreciationManagement Buyout Opportunities - when you sell to an ESOP all employees...
2023-07-1513 minExitology: Unlock Your Profits, Unlock Your PotentialS13 E26: The ESOP Alternative Exit Strategy David Blauzvern and Jordan Burg and Jason Wally WaldronCSG Partners - David Blauzvern, VP and Jordan Burg, CMO. Since 2000, CSG Partners has helped hundreds of closely-held companies nationwide realize the unique benefits of employee stock ownership plans (ESOPs).
Origins of the ESOP
Louis O. Kelso created the ESOP in 1956 to enable the employees of a closely held newspaper chain to buy out its retiring owners.ESOP gained traction after the Employee Retirement Income Security Act of 1974 (ERISA) established the framework for the modern ESOP structure.
ESOPS have grown from employee benefits strategy to comprehensive financial transactions.
ESOP Mechanics and Benefits
...
2023-07-1513 minExitology: Unlock Your Profits, Unlock Your PotentialS13 E25: The Silver Tsunami and Business Owners Increasing Demand for Exit and Succession Alternatives with David Blauzvern and Jordan Burg and Jason Wally WaldronCSG Partners - David Blauzvern, VP and Jordan Burg, CMO. Since 2000, CSG Partners has helped hundreds of closely-held companies nationwide realize the unique benefits of employee stock ownership plans (ESOPs).
Silver Tsunami - baby boomers aging out of business ownership and management.
Half of American private businesses are owned by individuals 55 or older.
ESOP is one of many exit and succession planning options. ESOP is a way to do a legacy exit and pass a business on to employees after you decide to sell.
67% of lower middle market owners who put the...
2023-07-1513 minExitology: Unlock Your Profits, Unlock Your PotentialS13 E24: How Becoming a Hype Artist is One of the Most Ethical Things You Can Do with Michael F. Schein and Jason Wally WaldronP.T. Barnum - “There’s a sucker born every minute”
The way people behave in groups is wired in our DNA.
Reverse engineer and distill principles to make the world a better place
Never deceive and leave people better than you found them.
Adding a little bit of color into the world is not a bad thing
Manipulate the media, it’s desirable to be memorable
Flip your weaknesses into strengths, package yourself, draw your line in the sand.
On your mission, embrace what you are...
2023-07-1512 minExitology: Unlock Your Profits, Unlock Your PotentialS13 E23: One Hype Strategy Particularly Suited to Those in B2B Service Businesses with Michael F. Schein and Jason Wally WaldronHuman beings are wired to be much more attracted to being against people or ideas than being for people or ideas.
Reference The Hype Handbook: 12 Indispensable Success Secrets From the World’s Greatest Propagandists, Self-Promoters, Cult Leaders, Mischief Makers, and Boundary Breakers 1st chapter in book - Make War Not Love
By answering these questions, you will have a story to tell about their survival
Ask yourself what is a point of view held in my field that is gossip that I disagree with?Ask yourself what is a point of view that you ar...
2023-07-1512 minExitology: Unlock Your Profits, Unlock Your PotentialS13 E22: What People Working in "Boring" Industries Can Learn Cult Leaders, Propagandists, and Other Assorted Mischief Makers with Michael F. Schein and Jason Wally WaldronHow are you sought out in your industry?
Dale Carnegie one of the greatest influencers with hype artists strategies . Charles Manson took a Dale Carnegie course in prison and used his strategies for his cult. Warren Buffet also used his strategies in finances. David Bowie used his strategies for his artistry and career.
Believe in what you're doing and use a certain tool set to achieve fame.
The Oracle of Omaha - how Warren Buffet built his fortune - Woodstock of Capitalism
Examples of going from "boring to compelling" using this stra...
2023-07-1512 minExitology: Unlock Your Profits, Unlock Your PotentialS13 E21: Why Hype Gets a Bad Reputation with Michael F. Schein and Jason Wally WaldronMichael F. Schein is the Head Hype Artist at MicroFame Media, a company that specializes in making idea-driven businesses famous.
The word “Hype” originates from hyperbole or exaggeration
In the Hip Hop community, the hype man is responsible for energizing the group.
People and businesses find creative ways to get your name out there.
It is easy to say this is how you are successful. When you are dealt a certain set of cards, you have no option to find unusual solutions to get the word out there.
Optim...
2023-07-1512 minExitology: Unlock Your Profits, Unlock Your PotentialS13 E20: The Inner Game of Exiting Your Business with Sean Hutchinson and Jason Wally Waldron“We love to be intrigued and challenged and we hate to be bored.”
Brain chemistry shows up in the value acceleration and exit process and helps us manage anxiety.
How do you separate an adrenaline junkie who decided to become an entrepreneur and separate the part of their brain that needs to take action?
Leverage the part of the brain that helps make good decisions. Pay attention to what is going on in your body and mind at the same time.
Owner dependency is a huge value discount - more owner invo...
2023-07-1413 minExitology: Unlock Your Profits, Unlock Your PotentialS13 E19: Transition Options Exit from An Empowered Place with Sean Hutchinson and Jason Wally WaldronHow do we help closely held businesses exit from an empowered place as opposed to a reactive place?
Most Requested - Ready for Next Advisory Group Transition Options Analysis.
Learn about the 7 ways to exit a privately held business other than an IPO.
When selling your business to a third party, 70% to 80% of the businesses that go to market with a good strategy for selling to a third party fail.
Transition Options Analysis is based on 4 dimensions including fit and feasibility.
Weigh relationships between liquidity and legacy.
V...
2023-07-1413 minExitology: Unlock Your Profits, Unlock Your PotentialS13 E18: Creating Sustained Growth Across Generations with Sean Hutchinson and Jason Wally Waldron“Failure rate on family business transitions is very high. By the time you get down to 3rd or 4th generation, you are down to single digit survival rates.”
Learn about the Ready for Next Curve Spanning Model.
Span Fealty - a relationship that is created between the successor generation and their customers.
TImeframe and energetic transfer of trust, relationships, customers, suppliers between generations.
Begin with the end in mind - start fanning halfway up the growth curve
Exitology: Unlock Your Profits, Unlock Your Potential
2023-07-1413 minExitology: Unlock Your Profits, Unlock Your PotentialS13 E17: Overcoming Entrepreneur and Business Owner Anxiety with Sean Hutchinson and Jason Wally WaldronSean Hutchinson, CEPA, Partner at Ready for Next Advisory Group has a wealth of knowledge and wisdom in the exit planning space.
Learn some of the anxieties that entrepreneurs and business owners, particularly over the age of 65, experience as they are looking to exit.
What are the stressors around entrepreneurship anxiety around exit planning and the actual exit itself?
“You are the CEO. You are the Owner. You bring the weather. You bring the weather into the room, your people are going to look to you for good decisions.”
Effects of right beh...
2023-07-1413 minExitology: Unlock Your Profits, Unlock Your PotentialS13 E16: Proven Processes for Selling your Business with Gary Goldwasser and Jason Wally WaldronCurrent trends happening right now include “buyer slow boating" and lenders taking an exorbitant amount of time to get deals done.
Velocity of deal flow and money/lending into the environment is slowing down.
Reduction in a purchase price to support lender services.
Explore creative mechanisms for deal structuring and risk mitigation.
“The only thing that kills deals is trust.” - Gary Goldwasser.
Persistent, consistent, trust and magic can happen.
A grow to exit diagnostic session can help you evaluate and benchmark your company and uncover your best o...
2023-07-1212 minExitology: Unlock Your Profits, Unlock Your PotentialS13 E15: Setting A Realistic Selling Price Gary Goldwasser and Jason Wally WaldronWhatever the seller will pay for your business is what your business is worth.
Appraisals don’t really represent what the market is dictating in appraisals.
What is the multiple on cash flow of a business?
What are you going to do to get the value you want for your business? - Use an Exit Strategist, marketing, continue what you are doing and get the same results 3 years from now.
Educate yourself on what it takes to maximize your value and close the wealth gap.
Sellers pain points - bu...
2023-07-1213 minExitology: Unlock Your Profits, Unlock Your PotentialS13 E14: Choosing Your Team When Selling Your Business with Gary Goldwasser and Jason Wally WaldronWhat is a Business Broker?
Choose a Business Broker before the transaction, during the transaction and after the transaction along with forming a team of people to help you.
Team - exit strategist, transaction attorney, bookkeeper, CPA (not just tax prep), lender, banker
Look at a business from the acquisition lens
Perspective of potential buyers first Pre-qualificationA buyer wants some type of working capital - cash, inventory, receivables - left in a business
15 Go To Questions from a buyers perspective examples
Seller financingTransition and training
A seller on a s...
2023-07-1213 minExitology: Unlock Your Profits, Unlock Your PotentialS13 E13: Getting a Business Ready to Sell with Gary Goldwasser and Jason Wally WaldronGary Goldwasser, business broker with Transworld Business Advisors of Colorado, sold 52% of all business sales in Colorado in 2022.
Business owners don’t spend the time thinking ahead and getting the business ready to sell.
Ideally, meet with sellers years in advance but in most cases it’s last minute.
What are buyers looking for - good clean books, accounting software, the building clean and organized, and documented processes.
Bankers and buyers want to see 2-3 years of history of the business. Show cash flow and profit in financial statements.
Determin...
2023-07-1212 min
Exitology: Unlock Your Profits, Unlock Your PotentialS13 E12: Finding the Money with Kelly Oliver & Jason Wally WaldronSince money is so hard to get and so expensive, how do I get money and become an opportunist?
Money opportunities - crypto, private funds, private equity, alternate lenders,
Most important aspect who do create a WIN WIN WIN for the owners acquirers employees and financers
“Success begets success.”
Number deal killer is the seller is asking too much and unwilling to compromise in price.
Remember the tax burden that occurs too.
The most important thing you can learn in business is who not how.
2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS13 E11: Opportunistic Positioning to Sell or Acquire with Kelly Oliver & Jason Wally Waldron“Follow the money, where’s the money? The money is in manufacturing.”
Look for efficiencies in operations and prepare. Know your competitors.
Grow the value of existing business and be an opportunist!
“Follow the money, where’s the money? The money is in manufacturing.”
A business owner reaches their peak and may sell. A buyer may take over the business and elevate to new peaks.
Chapter 14 & 15 of Maximizing your Exit Strategy, focuses on selling your manufacturing business and selling associated real estate
Business owners who have sold their business...
2023-05-1113 minExitology: Unlock Your Profits, Unlock Your PotentialS13 E10: Preparing for the Coming Economic Hurricane with Kelly Oliver & Jason Wally Waldron“If you are prepared to sell, then you have a chance to extract all the value of their net worth”
Explore business owner standards. You are going to exit at some point.
If you don’t want to be in business in the next 5-7 years, now is the time to plan to exit.
Prepare for the economic hurricane
Have your financials in orderHave your operations in orderThink about who your target buyer is
Kelly Oliver has over 25 years of consulting experience helping business owners realize their company’s strategic v...
2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS13 E9: Trends and Challenges in the Marketplace with Kelly Oliver & Jason Wally Waldron“Anytime there is significant change in the market, there is always opportunity.”
Commercial real estate in the office industry has been suffering.
Occupancy rates down 75%.
Employees may not be able to live close to where they work.
SBA notes have become due in Q4 2022.
Wealth will be transitioned in the next 5 years and individuals will look to grow and exit.
Kelly Oliver has over 25 years of consulting experience helping business owners realize their company’s strategic vision. As a female CEO, she owns an equity...
2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS13 E8: What are Your Alternatives for Financing an Acquisition? with Stuart Sorkin & Jason Wally Waldron“Most entrepreneurs spend 99% of their time working on their business and 1% on their business goals.”
A bank is not going to finance 100% of your acquisition.
Discover ways to generate internal cash.
Establish a credit line for growth after financing an acquisition.
Explore the two forms of bank loans (pros/cons), investors and preferred stock mergers.
It is important to have someone on your team who understands what you are trying to achieve and different ways to get there.
Focus on a period of time to add value and ree...
2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS13 E7: Organic vs. Acquisition Growth with Stuart Sorkin & Jason Wally Waldron“You probably want to say no to a bunch of deals until you say yes to the right one to acquire.”
Organic growth - slower, potentially more consistent, probably requires innovation.
Acquisition growth is a series of questions - What are you acquiring? Have you built your due diligence library? Financing the deal?
See a path for the next 7-8 figures in your business, have a hungry sales team and have a growth mindset.
Establish a clear deal criteria.
Contact Stuart Sorkin at https://businessandlegaladvisors.com/ for a complimentary consu...
2023-05-1113 minExitology: Unlock Your Profits, Unlock Your PotentialS13 E6: Steps to Take to Increase the Value of Your Business with Stuart Sorkin & Jason Wally Waldron“60% of deals that go to LOI do not close.”
Definition of different types of buyers.
Expensive Mistakes, book by Stuart H. Sorkin - Learn what to avoid when positioning for a strategic or financial acquisition, management buyout or legacy exit.
Letter of Intent (LOI) is the best position for the seller.
The biggest reasons for failure are due diligence and inability to deliver key employees.
Always be ready to sell. Actively build your due diligence library as early as possible and update quarterly or semi-annually.
Exitology: Unlock...
2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS13 E5: How is the Value of Your Business Determined? with Stuart Sorkin & Jason Wally WaldronStuart H. Sorkin is the founder of Business and Legal Advisors, a business consulting firm that serves both start-up and existing small/mid-size businesses in the design and implementation of business growth strategies.
“How much would I pay someone else to do what I’m doing?”
Every owner will exit his or her business in one of 6 ways
The best way to sell a business is an absentee owner. If your business is run successfully without you, you will have a more valuable business.
Assess what you provide to the business and how...
2023-05-1113 minExitology: Unlock Your Profits, Unlock Your PotentialS13 E4: What to Avoid, What to Seek to Create Value with Jason Wally Waldron“Everybody has a plan until they get punched in the mouth.”
70% of construction firms are owned by baby boomers.
You’ve invested in a great marketing plan but it’s sitting on a shelf.
Engineers are introverts; they want to double down on innovative products.
Instead of revenue generationInstead of process/optimizationInstead of securing their supply chain and future
Unbundle in a recession. Bundle in a growth period.
Feel the emotion, but don’t let it guide your thinking.
Follow proven strategies Page 135 in Exitology book - 36 month roadma...
2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS13 E3: Sales Team Psychology in a Recession with Jason Wally Waldron“All Buyers are Liars”
“You are only as good as your last job.”
“I don’t need a hundred contacts, I need two.”
Old way of business is not working anymore. Time to reinvest themselves.
You want a small list to generate big profits.
Good sales people never give up.
Hired, tired or fired = grow to exit opportunities
Find ways for the sales time to build momentum
Shorten time to sale, unbundleGet leads fasterHope = avoid the downward spiralThink, Think, Think
#psychology #exi...
2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS13 E2: Advanced Industry and Manufacturing in Today’s Economy with Jason Wally Waldron“Engineers should not be business owners.”
Be open to learning.
Find people that are better than you and hire them
Choice for Engineers - are YOU the Engineer, or are you the Rainmaker?
Be ready to let go and invest in your growth.
Be willing to not always be the smartest person in the room.
#planforexit #growrevenue #exitplanning #manufacturing #learning #engineer
Like this episode? Want to learn more? Visit www.exitology.com, or get your copy of Exitology: Proven Strate...
2023-05-1113 minExitology: Unlock Your Profits, Unlock Your PotentialS13 E1: Finding Stability in Unstable Times with Jason Wally Waldron“Is this something that is, or is not, in my control?”
Epictetus - One of the most prominent lessons from the Stoic philosopher Epictetus, is that a key element of mental well-being is the ability to discriminate between what is within our control and what is not. This takes the power away from the areas of life that can’t be changed, no matter how much we suffer.
Circle of awareness is vastly bigger than the circle of control and an absence of clarity of thinking.
Your Inner Economy is the only thing that m...
2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS12 E80: Choose Your Own Exit (Or Exits…) with Jason Wally Waldron“Out of 40 people who want to exit their business, 1 person will be happy 2 years later.”
Contact us to participate in an Exitology executive briefing. Access the Exitology Business Growth Model on our website.
Ultimately, we want to help you choose your own exit. Exitology allows you to Buy back your TIME and FREEDOM.
Start with your own optionality. As you get clear, you must choose a path or a path will be chosen for you.
#exitplanning #growtoexit #executivebriefing #time #freedom #optionality
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2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS12 E78: Pros and Cons of Startup Thinking with Jason Wally Waldron“The greatest challenge is the greatest opportunity.”
Andy Moore & Moore’s Law - Moore's Law is the observation that the number of transistors on an integrated circuit will double every two years with minimal rise in cost.
Martec's Law is the principle that while changes in technology occur very rapidly, changes in organizations do not.
Martec’s Law: the greatest management challenge of the 21st century.
Cons - you might scare everyone away with startup culture thinking.
Definite Optimism vs. Indefinite Optimism.
#ValueAcceleration #startup #optimism...
2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS12 E77: Value Acceleration for the Turnaround or Rebirth Cycle with Jason Wally WaldronPeter Teil - “What valuable company is nobody building?”
What is a perfect growth trajectory for exit?
Does your company have a disruptive solution to add value in the future?
Explore what to look for when a turnaround is viable for your company.
Is it a startup? or Is it a game changer?If it’s not a 10x or more opportunity or a real genius opportunity, hit the pass button.
#ValueAcceleration #growth #rebirth #turnaround #opportunity #startup
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2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS12 E76: Rebirth or Turnaround with Jason Wally Waldron“Turnarounds are tough, most of them fail.”
Explore the business life cycle - rebirth and turnaround decision points.
Explore the reasons businesses fail by generation.
Determine if the founder is ready to move away. Does the business have standards in place to raise capital?
Keep your eyes wide open. Ask yourself is this business worth keeping? Are you going back to the Valley of Death?
Exitology helps a stable business with growth potential. Have a formal, funded growth to exit plan.
Every year you have an 80% chance of one o...
2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS12 E75: How to Find Growth Capital with Jason Wally Waldron“Make sure you’ve got a good deal.”
Story of Benjamin Franklin and small business loans
Get as much credit as you can in the good times. Leverage and protect your investments in the bad times.
Learn what a “good deal” looks like? - Debt, Equity, Donation, Bootstrap Through It.
Explore ways to find money and financing to fund growth
What skin are you willing to put in the game to raise capital?
Think outside the normal lines of profit and loss.
#ValueAccelera...
2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS12 E74: Which Growth Lever To Pull with Jason Wally WaldronChoose optimism and persistence in the Valley of Death.
A business owner seeks new growth and opportunities and will eventually plateau.
Be strategic about cutbacks.
Once growth slows, momentum is lost.
Loss in the short term tells us what to do differently. When resources are less, time is of the essence.
How to avoid and embrace the Dip?
Recession is clearing out space for a new reality. Create a 12-36 months roadmap now for success. Visit Exitology, for a copy of the Client Success Map.
2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS12 E73: The Two Intangibles for Navigating - Optimism and Persistence with Jason Wally Waldron“Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. The slogan "Press On! has solved and always will solve the problems of the human race.” - Calvin Coolidge
Persistence only comes if you really believe what you're working for.
To navigate and succeed through the recession, be sure you're prepared for all outcomes.
Stress is the...
2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS12 E72: Exit Strategy, Commitment Strategy, and Post Acquisition with Jason Wally WaldronGood Business Strategy and Exit Strategy are really the same thing
What does success ACTUALLY look like and how do you get there?
Culture and people need to be included in the exit strategy and commitment strategy.
Listen to an example of how Walmart took take the best parts of tech strategy to move the business forward.
Clarity - get clear on where you want to be and when.
Have faith and trust faith with numbers.
Discuss ROI zone and projections.
Define, share and enroll y...
2023-05-1113 minExitology: Unlock Your Profits, Unlock Your PotentialS12 E71: Get 33% growth year over year, without it costing you a penny with Jason Wally Waldron“Once momentum is lost, the culture dies.”
“The way most business owners attempt to grow their business is flawed.”
Evaluate problems from a business growth perspective.
Seek new growth and opportunities, a business faces a plateau.
Infinite runway - grow from profits, reinvest, recapture revenue, grow your business.
Tips to extend the rapid growth phase of your business.
Measure your profit margins and look back on the business to see who would buy this business today.
Exit planning evaluates patterns for clarity.
...
2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS12 E70: Walk A Mile In Their Boots with Jason Wally Waldron“If you want to understand someone’s life, walk a mile in their shoes.”
Listen to a personal story of how exactly Exitology helps business owners.
Create a shared understanding of client challenges.
The sales team gains trust when you walk a mile in their boots.
Understanding is the first step of moving towards growing the value of the company.
#challenges #walkinmyshoes #trust #valueacceleration #exitplanning #understanding
Like this episode? Want to learn more? Visit www.exitology.com, or get your copy of Exi...
2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS12 E69: A Tale of Two Business Owners (Millennial vs Boomer Generation) with Jason Wally WaldronBusiness exit planning is like a three-legged stool. It requires balance!
Difference between clarity and being blurry.
Every business is different and every family is different. However, when it comes to a business transition, there are three forms of readiness that all owners need to consider – personal, financial and business.
Explore the Millennial culture versus Boomer culture and views of success.
Follow your passion, be clear on your vision.
The metric is what is my transferable value in my business right now.
#clarity #businessowner #exi...
2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS12 E68: Thinking About Failure The Wrong Way with Jason Wally Waldron“You've never actually failed unless you give up.”
Choose your lens on failure.
Listen to a personal story of failure leading to Exitology.
What is the most important thing you can have in business? - your network.
Business owners need advisors and coaches.
Figure yourself, forgive others, play your own game, think of your other successes to see yourself at your best.
Doing too much with too little causes failure.
#Failure #Network #ValueAcceleration #Strategy #Coach #Advisors
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2023-05-1113 minExitology: Unlock Your Profits, Unlock Your PotentialS12 E67: Is Profit a Dirty Word for Corporate Cultures with Jason Wally WaldronProfit, or culture: why not both?
You can, and should have both.
Profit is the cornerstone of sustainability for your company. And your culture needs that sustainability to thrive.
But how can you have both profits and culture?
This episode walks you through understanding how you can have both profits and culture; and demonstrates how they are inextricably linked.
#ValueAcceleration #Leadership #Direction #Mission #McDonalds #Walmart
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2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS12 E66: Healthy Versus Unhealthy Culture with Jason Wally Waldron“Leaders who prioritize establishing goodwill and a positive team climate have a better chance of creating a successful team.”
How your team operates on a daily basis determines whether or not you’re advancing your mission.
And leadership is all about being a positive role model and setting the temperature for your company.
So, my question for you is: Are you setting the temperature, or reacting to it?
#Purpose #Vision #Mission #Leadership #Values #PoliticsandBusiness #Politics #Coinbase #GenerationalWealth #ValueAcceleration
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2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS12 E65: Should You Sacrifice Culture for Profits with Jason Wally WaldronWhat is the soul of your business?
Do you put the mission and why you exist first, or are you just in business to make money?
In today’s episode, I explore these questions as I ponder this statement sent in by a listener: “If you sacrifice culture for profits, your organization will go through difficult change. If you set up the right culture, long term profits will come.”
Corporate culture is the shared values, beliefs, and behaviors that determine how employees and management interact.
And believe it or not, your cultur...
2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS12 E64: Creating a Corporate Culture with Jason Wally WaldronShould you sacrifice culture for profits?
Is profit a dirty word for corporate culture?
Learn the key components of the Exitology culture
How you think is everything - live the Exitology culture and profits will come
Ask yourself, what should a culture look like? Does it have to be this way?
References
It Doesn’t Have to Be Crazy at Work - Jason FriedHP Way
“To recognize that profit is the best single measure of our contribution to society and the ultimate source of our corporate strength We sh...
2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS12 E63: Not Trusting Yourself, Your Advisors, or Your Plan with Jason Wally WaldronDon’t be alone. Our blind spots are the hardest part to see.
Listen and trust your advisors
Ask good questions to your advisors
Be humble to ask for helpHow would you proceed if you were me?What haven’t I asked that I should have?
Trust yourself that you’ve chosen the right advisor
45 days into a 90 day plan, expect a drop off, then reboot and trust your plan
Opportunity cost = cost of inaction
Often your advisor can see the future clearer than you can because you are...
2023-05-1113 minExitology: Unlock Your Profits, Unlock Your PotentialS12 E62: Thinking You've Got Gold But You Have Mold with Jason Wally WaldronIs my business more transferable than it was 12-18 months ago?
Is my business more valuable and transferable than it was 12-18 months ago?
Out of 10 businesses, an average of 2 may be sellable
Transferable business items include client relationship, contracts
Studies show 80% of business owner’s wealth is tied up in their own business and failure occurs by:
Not being transparentNo value in businessWhen asked how much would you like for the business and the response is “How much you got?”
8 out 10 businesses will fall apart if the business is
N...
2023-05-1113 minExitology: Unlock Your Profits, Unlock Your PotentialS12 E61: Winging It (Making It Up as You Go) with Jason Wally Waldron“It’s only risky if you don’t know what you’re doing.” - Warren Buffett
Value acceleration is all about the end game. Exitology focuses on established businesses, getting them to the next growth plateau.
Not talking about failure is a mistake
Real life, real business is basically a series of failing your way forward and learning from mistakes
Projects and Startups
Startups fail all the time for so many reasonsBring a startup energy for a rapid business growth phaseDefine success and failure for youWhich of the 4 Exits would you choose?
...
2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS12 E57: Grow to Exit and Value Acceleration Methodology with Jason Wally Waldron“To Everything (Turn, Turn, Turn) There is a season (Turn, Turn, Turn)
Turnarounds - are you too close to the problem - mentally, physically, emotionally?
If you determine that it is worth applying startup energy to your turnaround, think of it as rebirth.
Accept the fact that the way to the top is not the way that you got there before.
Impacts to turnarounds
Changing demographicsLabor shortagesCulture changes
Ask yourself - do we grow or do we exit?
Discover Gate planning to mitigate risksPrioritize action plan for the ne...
2023-05-1113 minExitology: Unlock Your Profits, Unlock Your PotentialS12 E56: Exitology and Value Acceleration with Jason Wally WaldronAs a business owner,
What has worked best in your business?What has not worked?What do you need to do to extend your business growth curve?What would you do with yourself without your business?
Identify grow to exit business strategies to add 7 figures to your business
How can Exitology bring $30 Million in the marketplace?
Exitology can grow revenue, maintain and extend profit margins to put more money in net income
A business owner’s most important metric is a transferable value metric
Exitology offers tools to show a b...
2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS12 E55: Almost Losing My Shirt Going From Entrepreneur to Executive and Investor with Jason Wally WaldronExitology alignment with the Value Acceleration Methodology used by the Exit Planning Institute
“Keep learning, do your best to not make the same mistake twice and use the resources around you”
Accelerate the value of business by utilizing ecommerce and digital marketing strategies
Every business should “grow it and look for an exit”
Think about what it would be like to retire by connecting capital, expertise and opportunities
Losing My Shirt
Not enough due diligenceTrading time for equityGreed
Learn more about Exitology Grow to Exit Process - 2 day acce...
2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS12 E54: Escaping Corporate Prison and First Test as an Entrepreneur with Jason Wally WaldronExperiencing the “Quarter Life Crisis”
How do you reconcile your entrepreneurial spirit with a structured, corporate foundation?
Pay your duesDetermine your own personal exit strategy
Learn how I developed my own exit strategy on the value accreditation journey
Guidance for developing your career strategy
Look ahead 3-5 yearsMentorship - “When the student is ready, teacher appears”“Employee is limited, entrepreneur is unlimited”
A side business is an important change for an entrepreneurial mindset
If you have an entrepreneurial spirit,
You will be tested!Client concentration risk
2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS12 E53: Reading the Business News and Slinging Coca-Cola with Jason Wally WaldronDiscover how Exitology was born
Create a new reality for yourself
Let go of old patterns and create space for new patterns
Learn methods to lead you to your new reality
Guided meditationJournaling
Looking ahead 5 years, are you ready to answer these questions?
What do you want to do?What kind of person do you want to be?What do you want to have?What do you want to give back
Prepare for exit planning discussions
Personal readiness scorecard Identify key personnel Contingency planning
2023-05-1112 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E52: Commitment Clarity and Questions with Jason Wally WaldronCommitment Clarity and Questions
“Entrepreneurs are the unsung heroes of the world. Small business owners, not giant corporations, create nearly all personal wealth as well as 75% of all new jobs.” -Ted Nicholas
Direct Mail - using the power of the written word to do most of the sales process for you.
“There is no wasted energy in the universe. Make every move you make count and be worthy of you.” -Ted Nicholas
Summarize this Season:
Unlock Your Profits, Unlock your potentialLet the Gold Come to youAre you a Miner or...
2023-02-2813 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E51: Creating Your New Reality with Jason Wally WaldronCreating Your New Reality
The story about a strange business conference
Good first steps: take some time to yourself and journal
Journaling Prompts:
What do you want to DO in 5 years?What do you want to BE in 5 years?What do you want to HAVE in 5 years?What do you want to GIVE BACK in 5 years?What am I deserving as a reward for all of my hard work?
Are you ready to create your new reality?
Do you have knowledge of the transition process?Do you have...
2023-02-2812 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E50: The Four Exits with Jason Wally WaldronThe Four Exits
A story about a former client - external saleA story about New Belgium - ESOPA story about a soil company - Scale OutThe stats on Bankruptcies
The Four Types of Exits
Exit One - Sell to External Exit Two - Sell InternalExit Three - Scale Out / Go Passive (visit ExitologyBook.com)Exit Four - Consciously Bankrupt
2023-02-2812 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E49: Aren’t You Meant for So Much More? with Jason Wally WaldronAren’t You Meant for So Much More?
...The personal side of the Exit Journey...
The story of a long time client
When was the last time you listened to your allies in business?
The journey of business requires so many different things...When everything comes together and you can get alignments, things just happen
Remember that feeling of freedom boundless creativity.
What would it be like to unlock yourself from the handcuffs of your business?What are you going to do if you don't have your business an...
2023-02-2812 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E48: Client Success Stories with Jason Wally WaldronClient Success Stories
Good exit planning is good business strategy!
Build your capital & cash flow to create transferable wealth for your exit
The story of a company who chose to grow & exit
Every 90 days we ask - do you want to grow or do you want to exit?
Where are your personal and business readiness?
2023-02-2812 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E47: Begin with the End in Mind with Jason Wally WaldronBegin with the End in Mind
Build a business the right way, and the exit will take care of itself.
The story of a current client - beginning with the end in mind
Diversify lead sources
Exitology acts as a bridge between current business owners and new business acquirers.
Ask yourself:
Am I measuring my transferable value correctly?Do I have the right people around me to accomplish my goals?
2023-02-2712 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E46: Your Perfect Profitable Prospect with Jason Wally WaldronYour Perfect Profitable Prospect
Improve your cashflow & your business multiple
Case study of an automotive company client-
David vs. Goliath exampleReviewing his competitors psychological triggersHelped them more than double their business
Good exit planning is just good business strategy -Exit Planning Institute
Good strategy = insight applied to bring the future goal about faster
Begin with the end in mind!...Do I grow or do I exit?
2023-02-2712 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E45: The Inner Economy with Jason Wally WaldronThe Inner Economy
Value Acceleration Methodology -Exit Planning Institute
"Walking to Destiny" -book by Christopher Snider
5 stages of Business Exit
Identify - determine the initial value of your businessProtect Your WealthBuild - increase your cashflow & improve your multipleHarvest - harvest the fruits of your laborManage Wealth
Methodology - actual business strategy process to go through the 5 stages
Expect to define your Wealth Gap - How far are you from the value of your business today to your Harvest value?
What is your personal & business readiness...
2023-02-2712 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E44: Outside Advisors You Want on Your Team with Jason Wally WaldronOvercoming the valley of death - Outside Advisors You Want on Your Team
There is danger of staying too long on the down cycle before Rebirth...
Most businesses don't make itOnly 10-15% actually sell
Do you really want Advisors on your team?
Often you can't see your own blind spotsYou can leverage someone else's expertiseThere are different levels of advisors
Getting the right advisors on your team- Different Generations
Babyboomers - are looking to give back and stay engaged; they don't want to quit workingGen X - value work life...
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E43: Three Choices at All Times with Jason Wally WaldronOvercoming the Valley of Death - Three Choices at All Times
What can happen if we get too close to our business?...
Almost all of us are too close to our business at all times... It's okay & part of the process!
Only around 10% of business owners end up selling their businessOf that only a small percentage are happy with how that went
In the face of the 5 Ds, have a plan A, B, & C at all times -
Use the Eisenhower Decision Matrix Framework Square
First Quadrant (upper l...
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E42: Objectivity with Jason Wally WaldronOvercoming the Valley of Death - Objectivity
How Businesses Grow and Die...
The story of an internet business portfolio company-
They took on a lot of investor moneyWhere did the money go?They were a victim of the 5 DsInvestors had no confidence
Why is this important:
How did the owner get into the Valley of DeathWe're often too close to our businessesIf owner listened to advisors, the problems could have been caught soonerWe often don't reach out and ask for help
What you don't know, you don't know, and...
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E41: Acceptance with Jason Wally WaldronOvercoming the Valley of Death - Acceptance
Valley of Death = A presentation of how businesses grow & die.
The story of 3 product manufacturers
They were never able to get on the same page about their integration & growth strategy
Sometimes you do everything right, and all hell breaks loose anyway...
Every 5 years you're at an 80% chance of experiencing one of the 5 Ds...
5 Ds are often referred to as
DeathDisabilityDivorceDisagreementDistress
There are geometric patterns of nature we can apply to business-
First stair step: $0-$100,000Second stair...
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E40: Proving Your Value with the Seven Key Numbers with Jason Wally WaldronProving Your Value with the Seven Key Numbers
Q. What's the one thing I can do that will make everything else easier or unnecessary?
A. Implement the Seven Key Numbers in your Exit Journey.
"Do what you do best and outsource the rest...What get's measured gets managed...What gets managed gets improved..." - PETER DRUCKER
Creating repeatable success numerically to get best in class valuationWhere are you on the valuation curve?Start thinking about who you're missing from your team...How are people held accountable to their roles and...
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E39: Using the Seven Key Numbers with Jason Wally WaldronUsing the Seven Key Numbers
What do these numbers mean?
The organization is responsible for all the key numbers, but specific roles are held accountable to one or more key numbers as well.
The key numbers provide the story of the organization & insights at a glance to understand the business
7 Key Numbers - Examples
Number of leads generated (marketing / sales)Conversion rate (marketing / sales)Rate of customer retention (conversion / operations)Number of transactions per customer (conversion / operations)Average price per transaction (conversion / operations)Variable costs (operations...
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E38: Defining the Seven Key Numbers with Jason Wally WaldronDefining the Seven Key Numbers
Amazon reinvested for so many years; cashflow but not profitable
7 Key Numbers
Number of leads generated (marketing / sales)Conversion rate (marketing / sales)Rate of customer retention (conversion / operations)Number of transactions per customer (conversion / operations)Average price per transaction (conversion / operations)Variable costs (operations)Fixed costs (operations)
Gap between generations on values
Boomer vs. Gen Xvs. Millennials
What does success look like in the business?
What are we being held accountable to?
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E37: Discovering the Seven Key Numbers with Jason Wally WaldronDiscovering the Seven Key Numbers
Can I exit in 10 years? (My answer, try 5)
What would it look like for you to move up your exit timeline?
As few as 15% of businesses are ever sold... The other 85% mostly fade away because they couldn't sell or go out of business.
It's important to find trusted advisors.
Strategic value is simple math:
Increase cash flow by increasing salesPut 7 numbers into market place to show you can be trustedYour multipleIntangibles
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E36: Closing the Gap to Sell the Business with Jason Wally WaldronThe Importance of ROI - Closing the Gap to Sell the Business
STRESS! The Gap between your expectation and your reality
Expect Nothing, Accept Everything…
The Four C's - Your Capital
Social CapitalCustomer CapitalStructural CapitalHuman Capital
What does success look like?
Grow on the top Optimize on the bottomMeet in the middle
Value from worst in class to best in class
Establish a Regular Rhythm - quarterly renewal, monthly, dailyAccountabilityExecution - if you don't execute, it's all talk
Where does your business value stand? How big are you...
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E35: Profit Gap Leads to Value Gap with Jason Wally WaldronProfit Gap Leads to Value Gap
"I believe luck is preparation meeting opportunity. If you hadn't been prepared when the opportunity came along, you wouldn't have been so lucky." -Oprah Winfrey
Exit Planning is simply good business strategy.
If you choose to do nothing, studies show it will cost 400-500% of your wealth... (Leaving literal, millions of dollars on the table)
Transferable value in 5 stagesWhat is your high level exit readiness score?
De-risk & get 100% of work done with 60% of the workforce -
3x your manufacturing facility - exampleKnowledge...
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E34: Common Causes of the Profit Gap with Jason Wally WaldronThe Importance of ROI - Common Causes of the Profit Gap
What's going on? Mega trends...
Story Example
Why is this topic important:
DIAGNOSIS IS REALLY IMPORTANT HERE
What you need to know about this topic:
Get your planning in placeReal talk - budgeting3:1 return over 9-12 months
Analysis
Phase 1 - Perfect Profitable ProspectPhase 2 - Your OffersWhere are the breakdowns? Sales team?Is it an internal or external?How can you get 100% of the work done, with 60% of the workforce
2023-01-2513 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E33: Profit is the Only Driver of Value with Jason Wally WaldronThe Importance of ROI - Profit is the only driver of value
Story Time - Am I meant for more...
Get a benchmark - Where am I?
Wealth Gap - close this by creating a transferrable assetWealth Goal – Owner’s Net Worth Not Including the BusinessCashflow - increase cashflow & sales to close wealth gap and increase value
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E32: Harvest the Moat with Jason Wally WaldronHarvest the Moat - The CEPA Model for Harvesting
CEPA = The Certified Exit Planning Advisor
The story of R.R.
Where is the next Million Dollars hiding in YOUR business?
3 Way Win!
Business owner retiresOperations and Employees continueNew Owners can take the reigns and expand
Do you want to grow or exit?
Every 90 Days ask - grow or exit?Exit - Am I ready? Is my business attractive?Is this the right time?
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E31: Build the Moat with Jason Wally WaldronBuild the Moat
Elon Musk vs. Warren Buffett vs. Exitology
Where are you - still an entrepreneur? Or CEO, etc...What’s your team look like?Growth Perspective - are you growing 33% YOY?Vision Perspective - What is your purpose after the Exit?Operations Perspective - Do you have a strong Exec team?Human Perspective - Do you have the right people on the bus?Process Perspective - Do you have streamlined, repeatable, and successful processes in place?
Why is this topic important:
Most businesses are not disruptive businessesThe “forgotten man” = the produc...
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E30: Protect the Moat - Economic Moat vs Competitive Advantage with Jason Wally WaldronProtect the Moat - Economic moat vs competitive advantage
See the forest for the trees!
"The key to investing is determining the competitive advantage of any given company and, above all, the durability of that advantage. The products or services that have wide sustainable moats around them, are the ones that deliver rewards to investors." -Warren Buffett
Why is this topic important:
Economic Motes create a margin of safety!Elon Musk vs Warren Buffett
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E29: Identify the Moat - The Margin of Safety with Jason Wally WaldronIdentify the Moat - The Margin of Safety
"Invert, always invert" -Charlie Munger
Think: "What could go wrong in this investment?"
Why is this topic important:
Understanding your business from the perspective of the BUYER (What’s In It For Them?)Avoiding StupiditySuccess in business is more about avoiding losers, than finding winners...
What you need to know about this topic:
Margin of Safety (Benjamin Graham)Put on the Value Investor lensMargin of Safety for any asset = the discount between the intrinsic value of the business and the pr...
2023-01-2513 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E28: There is a Strategy - Use It with Jason Wally WaldronThere is a strategy - Use it
"Give me a place to stand on and I will move the Earth" -Archimedes and the Law of the Lever
Why is this topic important:
Your biggest lever = Your brain / your thinkingYour brain will help bring your future forwardBrain Nimbleness - do a journaling prompt for 5 minsPrompt: Who am I missing on my team to bring forth my business vision?Prompt: What have we tried in the past we should innovate on in the future?Prompt: What are 10 great things about me and my team I...
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E27: Why David Wins with Jason Wally WaldronWhy David Wins (Stats about David employers)
FAITH, VISION, NIMBILITY
Why is this topic important:
Get set up for the Exit YOU wantMost of the employers and owners are in small businesses
Be a catalyst between generations! - huge opportunity
What you need to know about this topic:
Most of what you need is already thereDiscussion of Interplay between generationsOpportunity - Catalyst between Boomer/MillennialOpportunity - Boomer ExitsOpportunity - Gen X exits
What you need to do:
Get a structure around you, get helpThink about who...
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E26: Business Jujitsu with Jason Wally WaldronBusiness JuJitsu (leveraging other’s strengths)
Embrace the concept of David vs. Goliath & Your place in the market!
"Jū" can be translated as "gentle, soft, supple, flexible, pliable, or yielding", and "jutsu" can be translated as "art or technique".There are many variations of the art, which leads to a diversity of approaches.
Why is this topic important:
Use Goliaths energy against himStoicismHappiness and freedom…Stress - Gap between expectation and realityIn today’s disruptive environment, nobody know what’s nextExamples
What to do:
Look up Charlie Munger and Warren Buffet's...
2023-01-2513 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E25: You are Probably David with Jason Wally WaldronDavid vs. Goliath - You are probably David
Story of David vs. Goliath
Have faith in your vision & the change you're creating!
Why is this topic important:
This story has been around for thousands of yearsThere’s a reason for it - wisdomDavid saw the opportunityDavid went to the king to open the opportunityDavid had faithUsed a “secret weapon” - faith and a stone - not a sword - to win the
What you need to know about this topic:
What is your unfair advantage/secret weapon?Is it an insight...
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E24: The ROI Zone with Jason Wally WaldronThe ROI Zone
Build a business the right way and the Exit will take care of itself!
Why is this topic important:
Every 90 days - is it time to Grow or Exit?It's all about transferable value!!!What is my annual transferable value?Where are you on your high level exit readiness?
What you need to know about this topic:
Executive - mission accomplishedKey number - VALUE
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E23: Momentum and Infinite Runway with Jason Wally WaldronMomentum and Infinite Runway
Marketing is just like baseball - Get on base!
Why is this topic important:
Momentum is FELTMomentum is created from a Lead SurgeWinning begets winning - where momentum comes fromA Players are winnersMOMENTUM PUTS YOU IN THE CONTROL SEATGrowing from Profit (THINK HP WAY)Versus getting deeper into Enslavement
What you need to know about this topic:
Top Producers are competitiveTop Producers are hard to poachTop Producers are worth incentivizing
Owning your destiny is the most important thing!
What you need to do:
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E22: Startup vs Sustainable Culture with Jason Wally WaldronStartup vs Sustainable Culture
Lose your business!
What you need to know about this topic:
Contrast that with CONTROL of your destinyReal value created
What you need to do:
Offer real valueGet intertwined with your customersPain of disconnect BECAUSE YOU”RE SO VALUABLEIndispensable
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E21: The False god of the Unicorn with Jason Wally WaldronThe False god of the Unicorn
Why is this topic important:
FailureLost Time, Money, Opportunity costFriends and family route / cc’sDebt, Donation, or OwnershipExit Planning Institute - Stats
What you need to know about this topic:
About 90% of startups fail. 10% of startups fail within the first year. Across all industries, startup failure rates seem to be close to the same. Failure is most common for startups during years two through five, with 70% falling into this category.
Why did they fail?
Undercapitalized (not enough time)Poor product choice / not al...
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E20: Exit, Death or Rebirth with Jason Wally WaldronExtending the Growth Phase - Exit, Death or Rebirth
Turning money versus making money Energy never wastedNature math in sales (seeds)Long termDoing less and creating more
Why is this topic important:
Rebirth is often the most important
What you need to know about this topic:
The decision is yoursIf you’re going to go bankrupt, do it consciously
What you need to do:
What is their business growth patternAre they plateauAre they valley of deathAre they something else / maturing?
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E19: Mature Growth (curve) with Jason Wally WaldronExtending the Growth Phase - Mature Growth
What happens when you go past the Startup & Rapid Growth Phase? You're now entering the Mature Growth Phase!
Why is this topic important:
If you haven’t exited by now, you’re at risk of going into valley of deathDecision time - Is it time to grow or exit?Let’s talk about how to make good decisions
Step back, Take a breath, and Break it down into smaller problems...
What you need to know about this topic:
Listen to your adviso...
2023-01-2513 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E18: Rapid Growth with Jason Wally WaldronExtending the Growth Phase - Rapid Growth
What does your wealth picture look like?
Profit Gap - do you have a country club valuation?
Why is this topic important
Extending the rapid growth phase is the most importantExitology helps make sure there is transferable value during this phase
What does your perfect exit look like?
Second bite of the apple approachDetermine what are you missing?What other assets are you setting up?
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E17: Startup with Jason Wally WaldronExtending the Growth Phase - Startup
Let the Gold come to YOU! - Gold is a metaphor for your wealth.
Statistics show that privately owned businesses have 80% of their net worth tied up in their businessUnlock that 80% of your net worth
Do you want to be the gold digger or the gold miller?
Gold diggers - endlessly pivoting and hustlingGold Miller - Continually add value to everybody as you touch and refine your systems as you grow continually, steadily, & rapidly
What would you business look like if you let the gold...
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E16: Circle of Control with Jason Wally WaldronUtilizing the Circle Of Control
“Happiness and freedom begin with a clear understanding of one principle: Some things are within our control, and some things are not." - Epictetus
STRESS!
What types of gaps do we see in our business?DisruptionAccept everything, expect nothing
Walking the floor of a tradeshow
Oils and fluidsTiresPipe benders moving into manufacturingWhere will we be 15 years from now? - a lot of folks might simply be out o business as the internal combustion engine becomes less relevantCircle of Control
What I did to stop wo...
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E15: Patterns and Predictions with Jason Wally WaldronUsing Patterns to make accurate Business Predictions
How can patterns be observed, documented, and then implemented into business flows that generate leads and sales?
Common Patterns
The Bell Curve - Pareto's Principle (80/20 rule)/ Range of Value CurveCircles - Spheres, Orbits, Cycles - 1 Year = 4 Quarters, 4 Seasons - FarmingUp and to the Right
How do I have and create a Return on Investment (ROI)?
how a lead surge can increase the value of your businessOften need 30,000-foot view / often folks are too close to the effortFigure out who your Goliath is
...
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E14: Reading the Patterns with Jason Wally WaldronReading the Patterns of Nature in Your Business
Growth Plateaus and the Valley of Death - Verne Harnish, Scaling Up
Zoom In: The DipZoom OutGet to take off as fast as you can
Maximize the value of your sale
Be one of the 40…Momentum supports cultureWinners attract winnersA culture that’s dying (A/B players leave)A culture that’s thriving (A players attract and build up more A players)
How to identify where you are
Conscious growth
Accurately assess where you are
Get spaceTake some time alone, reflec...
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E13: Nature Has Patterns with Jason Wally WaldronNature Has Patterns
Where are some areas where you’re fighting nature in your own business?
Circles and Cycles
Celestial BodiesSeasonsHurricanesThe Golden MeanThe Chinese concept of Li
We aren’t bigger than nature
HumilityFight it or flow with it
Energy is never wasted
Nature math in sales (seeds)Long termDoing less and creating more
Turning money versus making money
ObserveStep backThink (IBM)
2023-01-2513 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E12: Thinking and Acting Like an Investor with Jason Wally WaldronThinking and Acting Like an Investor
Your business must be an asset that turns out cash to be successful.
The story of Charlie & Al
How can you be one of those dividend paying investments that someone wants to buy?
The story of a former client
Investors - wake up, do what they want, when they want, with who they want
Your investment in "to think" time pays itself back in time dividends.
What is your game?
The story of Warren Buffett
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E11: Thinking and Acting Like an Executive with Jason Wally WaldronThinking and Acting Like an Executive
Are you a Worker or a Thinker?
"Run your business as if you're going to sell tomorrow. Plan as if you'll run it forever."
Hustle & Bustle culture vs Slow and Flow culture...
You need balance in order to maximize the value of your business upon exit.
Jobs as an Executive:
Create a place for the culture to emerge & liveGet space to become objectiveSpending more time on strategy than tacticsGuide and lead a hungry sales team
Executive entrepreneurs create a...
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E10: Tactics vs Strategy with Jason Wally WaldronTactics vs Strategy
Are you a Miner or a Miller?
Gold Miller = StrategistGold Miner = TacticianWe need them both; Growth Mindset & Hustle Mindset
It's more important for you to get yourself out of your business so you can thrive even more!
Business we work with reach a point of
client concentration risktoo much capacity - not enough demand
Q. When things aren't working like they used to... what are you missing?
A. Strategy - looking into the future and consider the "what-ifs"
You want to have 3...
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E9: Hustle Mindset vs. Growth Mindset with Jason Wally WaldronHustle Mindset vs. Growth Mindset
Statistics for business owners who want to grow their business to then exit are pretty dire...
You can take steps to increase your chance of success.
Is it possible to hold 2 opposing views at the same time and for both of those to be correct?
"Never lower your target...Just increase your actions." -Grant Cardone = hustle"The big money is not in the buying and selling, but in the waiting." -Charlie Munger = growth
Gold Miner vs Gold Miller - we need to be a...
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E8: The Picks, The Shovels & The US Mint with Jason Wally Waldron(Let the Gold Come to You) The Picks, The Shovels & The US Mint
The story of Levi Strauss
Pick and Shovel Play- an investment strategy that invests in the underlying technology needed to produce a good or a service instead of the final output.
Think about who is upstream and downstream of you who would be in trouble if you went out of business.
Pros & Cons of Pick and Shovel Play:
+Tend to have more stable cash flow-Need to de-risk the business
How can you position your...
2023-01-2512 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E7: The Gold Miller with Jason Wally Waldron(Let the Gold Come to You) The Gold Miller
The business owners who exit his/her business are the Gold Millers. They build assets & leave a legacy!
What would you business look like if you let the gold come to you?
Decentralizing your business is crucial to becoming a Gold MillerA business that's sellable & has transferable value is independent of its ownerOwner has a balanced life & feels fulfilled in their workThe owner has a defined personal purpose
An unsellable business -
Has its customer capital (or relationships with its customers...
2023-01-2012 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E6: The Gold Miner with Jason Wally Waldron(Let the Gold Come to You) The Gold Miner
The past is prologue - we can learn a lot from the last 100 years of history.
Are you a gold miner or a gold miller?What does it look like to be a miller in your business?How can you apply that to your Exit?
Gold Panner = Traditionalists (1900-1945)
Key Attribute: Very committed to the companyWork Ethic: Pay your duesView on Money: Pay cashCore Value: Take care of your family & community"Figure out which way the money flows and then make sure it...
2023-01-1012 minExitology: Unlock Your Profits, Unlock Your PotentialS11 E5: The Gold Panner with Jason Wally Waldron(Let the Gold Come to You) The Gold Panner
1 out of 40 business owners will get to the promised land...
Gold is a metaphor for YOUR wealth.
Statistics show that owners have 80% of their net worth tied up in their business.
In 1859, George Andrew Jackson discovered gold nuggets in Idaho SpringsProspectors came flooding in and soon the creeks' gold dried upSo the prospectors dug deep into the mountain to mine gold instead with picks, axes, explosives, etc.Another group worked differently - these investors, set up processing plants on the side...
2022-11-0912 min