Dec 8, 2021
Many business owners eventually come to the point where they will be moving on from the business they passionately built over the years, and having a good exit strategy will help them navigate this important and intimate event in their journey of entrepreneurship. This week on Grow Money Business, we have a distinguished guest, Scott Snider, the President and the co-owner of the Exit Planning Institute (EPI). Scott is an industry leader, growth expert, and entrepreneur. Throughout the episode, he discusses how he assists company owners in developing substantial businesses while also aligning their own financial objectives and personal purposes. He also explains several vital factors that every business owner should consider when exiting their company.
[03:26] Current Role – Scott talks about his current role and how he helps businesses with exit planning.
[06:40] Perfect Exit - Scott shares his insights about the perfect exit to a business owner who is about to do so in a few years.
[10:23] Emotional Hurdles - Scott expresses his thoughts on managing psychology and people's emotional hurdles along the business exit process.
[14:12] CEPA - CEPA is an acronym for Certified Exit Planning Advisor. Scott gives a brief explanation for the entire CEPA process.
[18:54] Exit Strategy for Young Entrepreneurs - Scott leaves a message to all the young business owners out there.
[20:21] Scott's Story- Scott emphasizes the significance of not letting your business define you while sharing his story and takeaways from his past experience.
[29:35] Family Business – Explaining the nature of the family business, Scott shares how he and his father work together in their family business.
[41:43] Vision - CEPA is suitable for any advisor who wants to learn how to help an owner position their company for a successful and significant exit. Scott broadly talks about the vision of the Exit Planning Institute.
[47:43] Future Plans - Having explained the concept of the wealth gap, Scott explains the future plans for his business.
[53:33] Research Findings -Scott shares details about one of his recent researches and exciting factors they discovered through it.
Connect With Scott:
Mentioned in the Episode:
Certified Exit Planning Advisor:
Owner Readiness: exit-planning-institute.org/state-of-owner-readiness/
Every Family's Business by Tom Deans: https://everyfamiliesbusiness.com/book/
Traction by Gino Wickman: https://www.audible.com/pd/Traction-Audiobook/B00A9ZO7T6