Want to know the best-kept secret for increasing your exit value? Hire a Chief Exit Advisor.
What is a Chief Exit Advisor?
I’ll answer your question, but first, a quick story.
I started my EdTEch right out of school with no money, experience, or team. Success was a dream and failure was a reality. All day. Every day.
Thirteen years later and against all the odds, my EdTech became an “overnight” success.
The first offer to buy my EdTech came from a savvy buyer who viewed me as a “country bumpkin.”
And he was right.
What the buyer didn’t know was that I had no intention to sell my EdTech. Instead, I viewed my dealings with the buyer as a way to identify my business blind spots.
As I’ve come to learn, the buyer was like most buyers and was a wolf in sheep’s clothing.
The buyer presented a 7-figure three times EBITDA offer hoping I would be like most sellers and say ‘yes.’ After all, most sellers are not prepared and say ‘yes’ to the money on the table.
I said ‘no’ with an obsession to master the art and science of selling a company.
Thirty months later I said ‘yes’ to a 9-figure thirteen times EBITDA offer from a different buyer.
What made the difference?
Chasing perfection is a fool’s game. With this in mind, we created a new position in the industry and became our own Chief Exit Advisor.
Wha’s a Chief Exit Advisor?
Keep reading to find out.
Why A Chief Exit Advisor Is The Industry’s Best Kept Secret. Until Now.
When you want success as bad as you want to breathe, then you will be successful – Eric Thomas
Want to know the exit industry’s best-kept secret?
Hire a Chief Exit Advisor to help you retire both rich and happy.
When selling your company, you must know how to assemble your exit team so you can crush it and win.
Investment bankers, accountants, and lawyers allowed me to become immersed in their worlds.
In my obsession to master the art and science of the exit, I spoke with anyone and everyone who sold a company. I relived the glory from the sellers who sold at a premium and felt the pain of the sellers whose deal fell short.
I watched, listened, and learned as though my future depended on it. Because it did.
My sole outcome was to find exit strategies that led to success and increased value.
I filled my exit playbook with winning strategies and ignored strategies that failed. Along the way, I look at both the big picture and small details.
Selling a business is big business. A completed transaction has both sellers and advisors walking away successful and rich.
A closed deal is great for advisors but often costs sellers more than they could imagine.
How do you increase success and maximize value?
Enter a Chief Exit Advisor.
While the other advisors focus on getting the deal done, a Chief Exit Advisor focuses on the best deal. For Y.O.U.
From how to structure your deal with your advisors to what to look for in a buyer, A Chief Exit Advisor has you covered.
Keep reading to find out.
Revealed: What Your Investment Advisor Doesn’t Want You To Know
You play to win the game…Hello. You play to win the game – Herman Edwards
When selling your business, don’t even think twice about hiring an investment banker.
Read and prosper with Dominate And Win When You Know How To Choose An Investment Banker.
The investment banker instrumental in my 9-figure exit has my gratitude and thanks.
With this in mind, I avoided doing one thing with my investment banker.
What’s the one thing I avoided?
Before I answer the question, I’ll ask you another question.
Do you know one of the best-kept secrets of the investment advisor world?
You should, but likely don’t.
The secret is that the best friend of investment bankers are buyers, not sellers.
Yes, you read that right.
I ensured my investment banker never had to choose between prospective buyers and me.
To your investment banker, you’re a one-time transaction.
On the flip side are buyers who do many deals with investment bankers.
Like yourself, your investment banker is in business to be in business.
Success in business and life is knowing both what to do, and as important, what not to do.Click to tweet
A world-class Chief Exit Advisor ensures your investment banker doesn’t have to choose.
Your Chief Exit Advisor puts your interests first to identify the best deal with the best buyer.
You don’t know what you don’t know, but your Chief Exit Advisor does know. And now you do.
The smart money is having a Chief Exit Advisor help you find and work with the best investment banker for you.
You’ll also avoid one big mistake most sellers make.
What’s this one thing?
Do You Know The Fatal Flaw Of Even The Best Exit Teams?
You’re only as good as the people you hire – Ray Kroc
The difference between winning and losing is the quality of your exit team.
But even the best exit teams have one fatal flaw.
Exit teams focus on getting the deal done over achieving the highest value for your company.
Your accountants ensure you have accurate reports on time. That over-the-top mergers and acquisitions lawyer focuses on protecting your interests.
Your tax advisor has figured out the best tax strategies to save you a bundle.
But here’s the thing, and it’s a big one.
Your advisors focus on getting the deal done. Period. End of story.
Value is nice, but a distant second.
Advisors like your accountants, tax planner, and strategist aren’t experts in value. Nothing wrong with this.
Most entrepreneurs, you figure your investment banker has you covered. Right?
Suppose your investment banker had to choose between a $58M or a $65M deal. The $58M is a slam dunk while the $65M deal may not happen.
You have $7M of your money on the line.
Investment bankers prefer certainty over risk and choose the $58M deal. The incremental commission from $7M is a rounding error compared to no deal.
Buyers know this, and so should you.
In the blink of an eye, $7M left your pocket and went straight to your buyer.
Enter a world-class Chief Exit Advisor who focuses on finding the deal with the highest value.
Whether you walk away from a higher deal or pursue it, the choice is yours. As it should be.
Now you know why a Chief Exit Advisor is the best-kept secret in the industry.
How do you select a Chief Exit Advisor? Keep reading.
How To Select A Chief Exit Advisor To Dominate And Win
The only thing more expensive than hiring a professional, is hiring an amateur – Red Adair
When it comes time to sell your company, you have one chance to get it right. Don’t blow it.
A Chief Exit Advisor goes a long way to having you do more thing right than wrong.
Yes, a Chief Exit Advisor requires your time and money.
The time and money spent on the right Chief Exit Advisor is a rounding error compared to what you’ll gain.
When’s the best time to hire a Chief Exit Advisor, you ask?
The next best time is right now.
When looking for a Chief Exit Advisor, ignore credentials and go for the experience.
Look to a mergers and acquisitions lawyer, investment banker, or strategist to name a few. What’s important is that the person you choose has mastered the art of selling a business.
Hire a Chief Exit Advisor before you assemble the rest of the team. The contacts and wisdom a Chief Exit Advisor brings in the selection of your exit team are priceless.
Speak to entrepreneurs that had a successful sale and ask them who stood out, or didn’t, in their process.
When it comes to selling your business, you don’t know what you don’t know, but your Chief Exit Advisor does.
And this is what counts.
Want A Higher Exit Valuation? Work With A Chief Exit Advisor Before You Sell
By failing to prepare, you are preparing to fail – Benjamin Franklin
When I become my own Chief Exit Advisor, selling my EdTech changed from a 7-figure to a 9-figure sale.
As great as my exit was, it would have been better had I done one thing.
Hire a Chief Exit Advisor before I even thought of selling my EdTech. This single action would have helped me achieve an even higher valuation.
Will investment bankers and your management team oppose a Chief Exit Advisor.
Each party looks out for their best interest. And so should you.
Having A Chief Exit Advisor first and your exit second ensures the best results from the start. You’ll also create a strong exit team.
As good as my exit was and as much as I mastered, I still made mistakes that hurt value.
Perfection doesn’t exist, especially when selling a business. But know this and know this well.
A Chief Exit Advisor helps you prepare to sell your company better than your other advisors.
Remember, your future buyer is the best friend of your investment banker. First impressions count. When it comes to investment bankers, the better the impression, the higher your value.
Your Chief Exit Advisor helps you find and remove your business blindspots.
Want a higher exit valuation? Find and work with a Chief Exit Advisor before you sell.
You’ll be happier and richer.
Onward and upward!
When it comes to selling your business, what you don’t know will hurt you. In every way.
The smart money is on finding and hiring a Chief Exit Advisor before you begin the selling process.
To the detriment of most sellers, a Chief Exit Advisor is the industry’s best-kept secret.
Your Chief Exit Advisor protects your interests while helping to increase value.
Success in life and business is knowing both what to do and not do.
And now you know.
When it comes to selling your business, find and hire a Chief Exit Advisor.
You’ll not only get your life back, but you’ll have a healthier and more profitable business.
Whether you choose to sell your company, or not, you win. All day. Every day.
The great news is that I’ve already done the heavy lifting for you.
Taking care of yourself and your company allows you to take care of your customers and employees.
It doesn’t get any better.
But knowledge without action doesn’t get results.
What are you waiting for?
You can do it.
And the great news is that you already have everything you need, right now.
Here’s to you and your success.
Your Biggest Raving Fan,