CASE STUDY: BUILDING AN EFFECTIVE ADVISORY BOARD FOR BUSINESS GROWTH
As you seek to optimize strategies for growth and eventual transition, assembling a trusted advisory board from outside your company becomes paramount. Leveraging the collective experience of advisors who have navigated challenges, seized opportunities, and made critical decisions can help you avoid costly mistakes and catalyze growth.
After a triggering event discussion with Tom & Mary and their professional advisors one of the action items is to establish an advisory board. The primary goal of this advisory board will be to help Tom & Mary shepherd the business through a value acceleration process over a period of years.
Learning Objectives:
Creating an effective advisory board involves addressing several critical questions:
- Functional Expertise: What specific expertise is needed for your business context?
- Industry Knowledge: Should you bring in experts from outside your industry?
- Attributes and Characteristics: What professional and personal attributes should advisors possess?
- Business Life Cycles: Is experience across multiple business life cycles essential?
- Remuneration: How should advisors be compensated?
- Board Size and Frequency: What’s the optimal board size, and how often should meetings occur?
- Integration and Action: How do you translate advisory recommendations into actionable steps?
- Testing Advisors: Is there a way to assess advisors without committing to their selection?
About the Presenters:
Hear from industry experts Thomas P. Scurria, Robert L. Reisley, and Jeff Klein.
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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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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Insurance Professionals
Exit planning addresses the 5 D's. So do you. Approach the risk conversation differently with 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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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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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.
ABOUT THE PRESENTER
Meet Jeff Klein:
Jeff is an executive with extensive experience in healthcare technology businesses. Jeff has led private and public businesses from $5M to $100M in revenue, he has owned the P&L, sales revenue, cost, and profit and has had reporting relationships to the Board of Directors as well as having been a board member. He has driven the acquisition of several companies, and has been acquired several times. He has led the integration of multiple business units, rightsized product portfolios, opened new channels to market, and led hi-tech innovative solutions.
Meet Robert Reisley:
Rob has been intimately involved in advising, founding, investing, growing, and at times restructuring private and publicly traded early stage and middle market companies for more than 35 years. Rob has helped companies accelerate revenues and profitability, align interests and work towards common objectives. He has broad-based experience (investment banking, private equity, venture capital) in a range of sectors including healthcare, software, manufacturing, and business services. His diverse experience includes Board and committee representation and Officer roles with 9 private companies ($5M to $280M) and 5 non-profits.
Meet Thomas Scurria:
Serving CEOs/Founders to benefit from over 27 years’ experience with large, diversified services companies and 13 years, as an entrepreneur/founder of two companies. Tom is dedicated to leveraging his strategy, finance and operations experience to guide companies through opportunities and pitfalls successfully. Mentoring by emphasizing an “Ownership Culture DNA ©”, focusing all functional areas on value creation, infusing stakeholders with an owner’s risk/reward perspective grounded in “cash flow real-ville” and motivating teams to over-perform. His experience living through leveraged buyout and as a personally at-risk entrepreneur forms his Ownership Culture discipline.