OPERATING WITHOUT THE OWNERS: HOW TO BUILD A STRONG MANAGEMENT TEAM AND DOCUMENT SYSTEMS SO THE BUSINESS CAN SCALE AND FUNCTION INDEPENDENTLY OF OWNERS. AKA, HOW TO BUILD REAL VALUE IN YOUR BUSINESS
This will be an interactive, moderator-led session, that may include the following exercises, discussion prompts, and assessment tool:
• Vacation Stress Test: Have owners imagine they are taking a mandatory, 4-week unplugged vacation. Write down then discuss the top 3 things that would break or stall in their absence, to reveal which core functions (sales, operations or finance) are too dependent on them.
• Messy First Draft SOP Race: Owners would get 5 minutes to “brain dump” the steps for a task they perform daily. Then, open to the group who must identify gaps where the owner’s unspoken knowledge is required. Demonstrates how undocumented systems create bottlenecks.
• Who is the Captain on the Pirate Ship? Ask owners to place themselves on a pirate ship…..are they steering (captain), looking for sales (Lookout), or doing the manual work (Deckhand)? Goal is to discuss moving from Deckhand to Captain to increase company value and transferability. Discussion Prompts:
• What decision was made today that only you could make? ID areas where a management team member could have stepped in. Who?
• If a buyer offered you $10mm today, buy only if you left tomorrow, would the business survive the week? Forces conversation on how buyer-perceived risk lowers valuation when an owner is the “hub” of every decision.
• Which customer or vendor calls you directly instead of your team? Focus is on why loyalty must be tied to the company brand, not the owner personally.
• What is the one thing slowing your team down that could be fixed with a checklist? Focus on systematizing operations as tangible way to increase asset value. Assessment Tool Take-Away: “The Owner Dependency Assessment”
Learning Objectives:
1. Identify the specific operational bottlenecks and “owner-centric” dependencies that currently limit the company’s valuation and scalability.
2. Develop a framework for delegating high-level decision-making to a management team, moving from a hub-and-spoke model to a decentralized leadership structure.
3. Design a system for documenting core business processes and standard operating procedures (SOPs) that ensures consistent performance without owner intervention.
4. Evaluate key performance indicators (KPIs) and monitoring tools (scorecards and reports) that allow an owner to maintain oversight and accountability while stepping away from day-to-day operations.
Event Location
Event Details
Who Should Attend?
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Attorneys
You have close relationships with clients, and can benefit from being the first advisor to introduce the idea of exit planning.
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CPAs/Accountants
Owners participating in the State of Owner Readiness research continue to indicate that you are the No. 1 "Most Trusted Advisor." You are a natural fit to lead the exit planning team and deepen your relationship (and retention) of next generation owners.
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Wealth Managers
You’re a skilled relationship person. Being entangled into your clients’ professional lives matters as you build a strategy to manage their wealth upon them harvesting it from their business. Exit planning allows you to build a deeper relationship with your client, expands your COI network, while giving you an early seat at table well before the liquidity event.
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Financial Advisors
One of the critical ‘legs of the stool’ is personal financing planning. An owner must have a strong financial plan & contingency plan post-transition to enable them to thrive in the next act of the lives personally and financially. Exit planning brings this future mindset into the present. Exit is now.
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Valuation Analysts
Valuation is both a billable engagement AND an opportunity to provide owners some perspective on how to accelerate value drivers (and deal with value killers). Use exit planning to make that valuation into a longer term value acceleration engagement.
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Investment Bankers
Only 2 of every 10 businesses that come to market actually sell. Learn how exit planning can bring attractive AND ready business to your purview.
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Estate Planners
Exit planning is a natural fit for estate planners who want to operate more holistically with their owner clients.
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Strategic Consultants
One of the most critical roles in exit planning is building transferable value. Strategic consultants have the ability to expand options and drive rapid business value that affect performance today.
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Insurance Professionals
Exit planning addresses the 5 D's. So do you. Approach the risk conversation differently with exit planning.
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Mergers & Acquisition Advisors
Proper exit planning causes less deals to fall through at the last minute. Connect with CEPAs to build your healthy deal flow network.
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Commercial Lenders
One of the best relationships a business owner makes is with their banker. How can you help your corporate clients think about the future and ensure financial continuity? Answer: exit planning.
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Family Business Advisors
More than 50% of lower middle market business owners would prefer to transition to the next generation. Help them succeed with exit planning strategies.
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Other Professional Advisors
Regardless of your unique specialty, there is seat at the exit planning table for you. Learn more at www.EarnCEPA.com.
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Private Business Owners
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Members of Family Business Boards
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Professional Advisors
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Business Consultants
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Other Business Professionals
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Business Owners
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Business Owners & Their Trusted Advisors
EXIT PLANNING IS GOOD BUSINESS STRATEGY
The Exit Planning Institute, provides Financial Advisors, Accountants, Consultants, and other advisors of business owners with the critical education to differentiate themselves and add value to their existing client relationships through a credential, conference, courses, and content. Download the CEPA brochure for more information.