Why We Plan

• Discussion on the significance of Exit Planning and the emotional complexities involved in transitioning from being a business owner.
• Charis highlights her approach to coaching, emphasizing the neuroscience behind fear and change, and how she assists entrepreneurs in navigating these challenges.
• Insight into the benefits of integrating a life coach into the Exit Planning process from the start, enhancing decision-making and emotional well-being.
• The episode touches on family dynamics in business transitions, underscoring the importance of communication skills.
• Charis offers strategies for advisors to identify and address emotional roadblocks in Exit Planning.
• Introduction to Charis's podcast, "Charis Your Life," encouraging listeners to explore further discussions on living a balanced and fulfilling life post-exit.

The ESOP Advantage: Discover why ESOPs are not just an exit strategy but a powerful tool for ensuring the continuity of a business while rewarding its employees. This episode sheds light on the unique benefits of ESOPs and why seasoned advisors are crucial in navigating this complex yet rewarding terrain.

Advisor Roles and Responsibilities: Advisors play critical roles advisors play in the Exit Planning process. From the fiduciary obligations of trustees to the strategic positioning of business owners for success, understand the intricacies of ensuring your clients are well-represented, informed, and primed for their exit.

In-depth Insights from Vince D'Addona: Celebrating his 44th year in the business, Vince D'Addona, a leading financial and insurance advisor, shares his extensive knowledge and experience in high wealth estate planning. Vince discusses the nuances of building a practice centered around wealth protection and transition, with a particular focus on exit planning for business owners.

The Art of Exit Planning: Discover the strategic and multidisciplinary approach to exit planning as Vince and John Brown explore real-world scenarios and the importance of preparing for 'gray swan' events. Learn how Vince's shift from traditional financial advising to comprehensive exit planning has enhanced client relationships and business outcomes.

Beyond the Numbers: This episode highlights the human side of exit planning. Vince emphasizes the significance of aligning the exit process with personal goals, preserving community legacies, and ensuring employee well-being. Hear about the transformative impact of considering aspirational and values-based goals in the exit planning process.

• Host & Guest: John Brown (Founder of BEI) interviews Izak Smith, an Exit Planning advisor.
• Discussion Points:
• Izak Smith's Background: Shares his journey into Exit Planning, reflecting on his own experiences as a business owner and the evolution of his firm.
• The Role of Exit Planning: Highlights the necessity of a multi-disciplinary team, involving attorneys, financial advisors, CPAs, etc., for comprehensive Exit Planning.
• Growth and Challenges: Discusses the challenges and strategies of growing a business's value and cash flow, emphasizing the importance of people, not just numbers.
• Marketing Strategies: Izak discusses transitioning from being a technician in the business to focusing on marketing, brand recognition, and education.
• Client Relationships: Details the importance of establishing clear goals, timeframes, and maintaining focus for business owners aiming for a successful exit.
• Internal Team Dynamics: Izak shares his positive experience working with his brother, emphasizing trust and complementary skillsets.
• Preferences in Exit Planning: Expresses a preference for working on internal sales and transitions, placing importance on ensuring that those who contribute to the business's success benefit from its exit strategy.

John Brown, founder of BEI, delves into a comprehensive conversation with Jim Carlisle, an expert in the field with 32 years of legal practice. Key highlights include:

• Jim's Background and BEI Involvement: Jim Carlisle discusses his extensive legal career and how his involvement with BEI has significantly changed the trajectory of his professional life, especially in handling mergers and acquisitions.
• The Shift in Practice: Jim explains how Exit Planning provided a new perspective, leading to a more predictable and strategic approach in his legal practice, moving beyond traditional deal-making.
• Pipeline Development: A focus on how Jim built a pipeline of Exit Planning clients, leading to a more consistent and manageable workflow and enabling effective team management.
• Strategic Client Engagement: Insights into how Jim's Exit Planning approach has facilitated deeper client relationships and broadened his scope of legal work.
• Flexibility in Exit Planning: Discussion on the adaptability of Exit Planning timelines to suit business owners' needs and the importance of being prepared for unforeseen exit opportunities.
• Exploring Multiple Exit Strategies: Jim emphasizes the importance of exploring and evaluating various Exit strategies, including ESOPs, family transfers, and third-party sales, ensuring well-informed decisions by business owners.
• Impact on Business Development: Jim shares how leading with Exit Planning has changed his business development strategy, resulting in securing comprehensive client relationships.
• Support and Team Structure: An overview of Jim's support team at Dinsmoor and the role they play in providing comprehensive Exit Planning services.
• Fee Structures and Client Value: Jim talks about his transition from fixed fees to hourly rates and how this has positively impacted client relationships and service value.

• Host: John Brown, Founder of BEI
• Guest: Bruce Willey, Attorney and CPA
• Main Topics:
• The evolution of exit planning and its significance
• The role and resources of BEI in supporting advisors
• The impact of BEI on Bruce Willey's professional journey
• Challenges and strategies in exit planning
• Comparing third-party sales and insider transfers
• Building and leveraging a national network of advisors
• The importance of focusing on client outcomes
• Key Takeaways:
• Exit planning is a multifaceted process that requires a diverse set of skills and knowledge.
• Insider transfers can offer a more holistic and satisfying approach to business succession.
• Building a reliable and focused team is crucial for successful exit planning.
• Understanding and prioritizing client needs is essential in differentiating oneself in the exit planning space.
• Audience: This episode is a must-listen for business advisors, attorneys, CPAs, entrepreneurs, and anyone interested in the intricacies of exit planning and business succession.
• This episode of "Why We Plan" offers valuable insights and practical advice, making it a significant resource for professionals in the field of business advisory and exit planning.

This episode is a must-listen for anyone interested in the intricate world of Exit Planning, blending professional insights with personal stories to provide a comprehensive view of the field.

Host: John Brown, Founder of BEI

Guest: Simon Horowitz, Emerging Exit Planner

Main Topics: Exit Planning Training, Generational Business Transfers, Continuous Learning in Business

Audience: Business owners, Exit Planning professionals, and those interested in succession planning

Language: English

Category: Business & Finance

Join us on "Why We Plan" as Stuart Sorkin, a legal and financial strategist, unveils the secrets of effective Exit Planning. Discover why mastering delegation is crucial for business owners, how to align personal and business goals for a robust succession plan, and the essential steps to safeguard business continuity. Sorkin shares real-world stories and offers actionable advice for owners at any stage, ensuring their legacy thrives through generations. Tune in for an episode filled with expert insights on building a future-proof business.

• Ken Rumbaugh shares insights on his financial planning practice, https://www.kenrumbaughinc.com and passion for assisting business owners.

• Discussion on the evolution and success stories of business owners, highlighting the complexities and rewards of exit planning.
• Ken's experience with BEI, emphasizing its practical and commonsensical approach to exit planning.
• The significance of continuous training and learning in the field of exit planning.
• Benefits of networking and collaborative problem-solving among exit planners.
• An anecdote of assisting a New York client, emphasizing the value of a comprehensive exit planning approach.
• John and Ken touch on the emotional and financial gratifications of helping business owners navigate the exit planning process.

In this episode, John Brown speaks with special guest David Blauzvern, Vice President of csgpartners.com.

CSG Partners is an investment bank headquartered in New York City, specializing in ESOP transactions. This discussion revolves around Employee Stock Ownership Plans (ESOPs), their benefits, and their complexities. Blauzvern emphasizes that while ESOPs offer unique advantages, especially for owners looking to preserve company culture and benefit employees, a lack of education about ESOPs prevents more business owners from considering this option.

Benefits of ESOPs:

• Flexibility in structuring transactions.
• Options include minority or majority sales, selling equity to management teams, etc.
• Preserves company culture; management remains the same.
• No layoffs post-transaction.
• Acts as an incentive for current and prospective employees.
• Tax advantages.