DISCIPLE OF CHRIST.
MEDIOCRE GOLFER & SKIER.
DISCIPLE OF CHRIST.
MODIOCRE GOLFER & SKIER.
Raised in a small town in South Dakota. Served as a missionary in Africa. Graduated college with a degree in accounting. After a stint with Deloitte, founded a business with a partner. Eventually, acquired a nationally based franchise company, repositioned it, scaled it, sold it, and then abandoned the San Francisco Bay Area for the scenic the Northern California Sierra Foothills seeking a slower paced life and to be closer to one of our daughters and grandchildren.
Before long, boredom set in. This led to launching the Business Exit Stories Podcast where dealmakers are interviewed and share their good and bad (and some really ugly) war stories about the deals they’ve facilitated. The podcast highlights heartbreaking stories of entrepreneurs that lost it all when they botched their exit, as well as some over-the-fence homerun exits. These exit stories provide insights, hints, and tips for entrepreneurs enabling them to properly position their business for an eventual successful and profitable exit.
One of the saddest things that I witness is when entrepreneurs, many of whom spent decades – and in some cases a lifetime, with their nose to the grindstone but failed to develop a strategy to position their business for an exit. This situation led me to analyze the data from hundreds of deal stories that have been shared on the podcast, my decades of business experience, and several of my own business exits, to identify patterns of what needs to be done to be able entrepreneurs to properly position their business for a profitable exit.
My new mission in life is to write a book and develop a system to help entrepreneurs optimize their exit value enabling them to enhance their post-exit lifestyle.
Case Studies and Blog Posts
A Pivot That Turned Out Like It Should
Frank Summerhill loved all things cars. Although he got great grades in math, physics, and science classes, while his friend focused on college prep courses, he took auto shop in high school. Although he went to college, he worked in an auto body shop while in school to pay for tuition. The better he got at his job, the less interested he had in continuing his education. He eventually dropped out of college to work full time.
Why You May Need a Forensic Accountant
Janes Tire and Auto Repair was owned by Jack and Annette Silverton. Prior to purchasing the business Jack had absolutely no business experience in the automotive business. He was a corporate VP of Sales and Marketing in a Fortune 500 company and was a real people person who could relate the customers on a personal level.
Who You Sell to Can Make a Big Difference in the Price You Get
Kevin Appleton had started a securities integration company that specialized as a securities integrator for large Fortune 500 companies and governmental agencies. A system integrator designs and installs camera, sensors, card reads, and facial recognitions systems and equipment in buildings and offices of the businesses around the world networking by locations, often located around the world, together. Kevin was a technical and skilled systems engineer and had built his company to a five million dollar a year business.
A: I listen to several hours of podcasts a day, generally, while exercising, walking, or working around the house/office. These podcasts allow me to explore a variety of topics to gain different perspectives which serves to enrich my views on life, liberty, the pursuit of happiness. When I become bored, I began to think about my last exit. Since this exit involved private equity, a board of directors, intellectual property, and a host of other issue, which was a lot different than a much smaller exit I’d had earlier in my career. If I had been better prepared, I could have done a little bit (maybe a lot) better for myself. I felt that there were probably a lot of other entrepreneurs like myself that could benefit from getting insights that could help them gain some perspective on to position a company for an eventually exit.
A: Entrepreneurs spend decades, if not a lifetime, building a business and often and then only ten minutes (relatively speaking) planning their exit. Because exits are often driven by external events such as health issues, a death, unexpected economic changes, business partner issues, divorce, and a host of other issues, not have any type of plan in place for how to exit a business can result in flushing the years of hard work down the toilet. There are case studies in the book where an entrepreneur lost it all by not having a plan in place. I believe the biggest takeaway in the book is that there is a process on how to think about how to position your company for an exit.
A: Actually, that was my original plan. However, after briefly pursuing this format, I realized that every entrepreneur thought their exit was the exit to end all exits when in reality these exits were somewhat routine. It is hard to create an engaging podcast with unexciting, not so interesting, or marginally valuable content. One day I had this epiphany – why not interview the dealmakers that facilitate exits? They probably have a portfolio of dozens, if not hundreds, of interesting transactional stories that they can share. This has proven to be the case. The stories, the good, bad, and some really ugly exit stories, has provided some of the most insightful takeaways than any entrepreneur can have as they begin to think about their own exit.
A: Just email me at firstname.lastname@example.org and tell me a little about your podcast.
A: Since there are so many variables in the planning process, the best thing to do is have a brief discussion. The outcome of this may be to refer to a business intermediary, help you build your exit team, or do some online study. Just send me an email to the email@example.com and tell me a little about your situation. Then it is appropriate, we can have a chat.
After successfully exiting his business, Marvin L. Storm started the Business Exit Stories Podcast. The podcast is in an interview format and shares stories and insights on how others have exited their business successfully, and some that made mistakes that cost them hundreds of thousands, and in some cases, millions in lost value on their exit.
Now these insights and exit stories are chronicled in nine key strategies that teach you how to position your business to stand out in a crowded marketplace and how to get multiple buyers to line up and bid for your business pushing your selling price far beyond what you could have imagined.
Get your FREE copy (you pay shipping) offer or a $0.99 Kindle version by simply registering. Off limited to first 1000 registrants – most are already taken.