Business Accelerator: Pathways to Scale and Successfully Exit Your Business
February 26, 27, 28, 2021
What’s your exit strategy?
In other words, besides just operating your business to make a profit, what is it you hope to eventually do? To one day sell the company to a strategic buyer and cash out? To continue to scale your business to the next level? Or do you want to eventually transition to owning it passively, shifting your role to under 10 hours a month while still enjoying the profits and future growth of the business?
If coaching 20,000+ business owners over the past two decades has taught me anything it’s this: only a small fraction of business owners have ever given serious thought to that question, let alone strategically map out a plan to successfully prepare and execute on their chosen exit strategy.
That’s why I want to encourage you to join me, the Maui coaching team, and a hundred of our top business owner clients for a special, 3-day event in Irvine on February 26th, 27th and 28th, 2021.
Together, we’ll invest 3 concentrated days on designing your chosen exit strategy and create a structured map to get you there.
Here’s a more detailed view of what you’ll gain when you participate in this one–timeonly event:
This first section of the workshop will focus on how you can prepare today to sell your company at some future date for top dollar. If you choose this exit strategy it’s essential that you prepare years in advance of the sale so that you can maximize your value.
There are functional steps you’ve got to do today to prepare your company for sale, from normalizing your financials, to reducing concentration risks, to positioning your company to maximize the multiple at which a buyer will value your company. In this first section of the workshop, not only will you learn how to do this, but more importantly, you’ll learn the detailed mechanics of how a sale works, how you want to structure it, and what might stop your sale from closing.
- The 9 types of buyers for your business (and the good and bad of each.) We’ll also cover how to spot the right strategic buyer, and how to take those initial first steps to feel out the relationship.
- How to assemble your advisor team to look after your side of the deal, including the inside game of how to find the right investment banker or business broker to help you sell (and what you’ll need to pay them to do it.)
- 10 steps you can take today to increase the value of your company and get it ready to sell in 36 months.
- A quick primer on how to accurately value your business (including a simple financial formula to truly understand where “multipliers” actually come from and how you can influence them.) You’ll leave with our proprietary 1-page business valuation tool (both the paper version and the excel spreadsheet version.)
- 9 last minute deal killers and how to make sure to eliminate them up in advance of your closing.
- Our 21 top tips to successfully manage the sales process to keep your business healthy and yourself sane. (Considering fewer than 1 out of 2 deals close, deal fatigue and potential harm from a failed sale could cost you.)
- How (and when) to tell your team about the sale.
- The 12 steps to selling your business. This is the big picture sales process you’ll go through so you have a clear view of how the mechanics of an eventual sale work.
- 10 Ways you can quietly spread the word you “may” be open to sell.
- How your buyer will fund the purchase of your business (and how the “terms” offered impact your real price.)
- The 6 main ways a sale can be structured (and the tax and legal considerations for each – for you and for your buyer.)
- The “transactional costs” of selling your business – from business broker or investment banker; to due diligence; to taxes; to incentivizing your management team post-sale.
- How much a failed sale could cost your business (including the 7 biggest deal pitfalls to watch out for and 5 warning signs your buyer isn’t going to close.)
- Life post sale – the financial considerations to successfully transition after your large liquidity event.
Exit Strategy #2: Continuing to Scale Your Business to the Next Level
In this second section of the workshop, we’ll help you map out the best pathway to scale your company. Generally, this strategy entails a multi-year commitment from the owner with the goal of scaling the company to a magnitude or more in size.
But for those business leaders with a strong ambition to grow their companies and generate more value in the world, scaling is a great option.
- How to use “acquisitions” to help you scale faster (including who you might look to buy; how you can best approach them; and the most likely ways you’ll want to structure and fund the deal.)
- A CFO’s view on scaling your company. What he or she would keep a close eye on and how to use these insights to protect yourself as you scale.
- The 4 “C’s” of successful scaling: Coherence; Connection; Controls; and Concrete Systems.
- How to maintain the dynamic balance of cash flow and capacity when scaling (including the 7 internal metrics you must keep a close eye on to make sure you have the cash reserves to scale safely and don’t get backed into a corner.)
- The core concept of “Scalable Solutions” and why this needs to become a part of the culture of your company. (This section will also include several concrete examples that you can take back into your company to teach your team this concept so you enlist their ongoing help in effectively scaling your company.)
- 18 Sources to Fund Your Hyper-Growth (and which are the most dependable.)
- How to avoid the 5 biggest risks of scaling: Cash crunches; Tidal Markets; Systems Degradations; Coherence Crisis; and Market Chum.
Exit Strategy #3: Transitioning to Own Your Business Passively
In this section of the workshop, we’ll help you identify the key steps you need to take to eventually transition to owning your business passively.
This strategy gives you the benefit of a very high, ongoing cash flow, along with a greatly reduced operational role in your company. But unless it’s done right, it also carries with it the risk of the company sliding into decline.
- How to assemble a winning management team so your business can not only maintain its status quo, but more importantly—so it can continue to grow and develop.
- How to define your new role as you transition so as not to undercut your leaders. (This section includes 15 tips to successfully step into a “Chairman’s” role versus a CEO’s role.)
- The 3 biggest dangers to look out for when stepping out of the day-to-day operations of your business, and the warning signs that spell trouble.
- The 6 building blocks you must arrange to go passive (and how to best deploy them to help you progressively reduce your company’s reliance on you quarter-by-quarter.)
- Creating your “Business Owner Score Board” to monitor your business weekly and monthly with minimum time and effort. (This tool not only helps to focus your management team to keep those few, critical numbers clearly in sight at all times, but also gives you a clear, leading indicator if the ship is heading on the right course, or if it’s drifting into dangerous waters.)
- How to know when to step back in if things are not progressing well (and how to do it with minimal disruption to your existing leadership team.)
- Why your “company culture” is one of the least utilized yet most powerful tools to help your company succeed for years after you are no longer at the helm day-to-day. (We’ll also go into detail as to 10 proven ways to build and reinforce the culture you want.)
Strategic Planning: Mapping Out Your Multi-Year and 1-Year Plan of Action
In the final section of the workshop, we’ll take a deep, hard look as to what your business will look like in the next 3-5 years: the composition of your team; its capabilities; its market share, and positioning; its key products; its most important customers; etc.
A full day of this 3-day workshop will be dedicated to helping you craft your 3-year business plan. This plan will be detailed enough to help you sharpen your thinking about the business you’re building, and the exit strategy you’re ultimately working towards, but also flexible enough so that you don’t become rigid and blind to new opportunities and market conditions that will invariably arise.
As my friend and fellow Maui Coach Jeff Hoffman (Co-Founder of Priceline.com) likes to say, “Your business plan is more about the structured questions you regularly ask yourself than about the answers you come up with.”
We’ll also drill down from your three-year plan to map out your one year plan using our proprietary 1-page Strategic Action Plan. This template will help you identify—in writing – your revenue targets, gross and operating profit goals, and the key metrics you’ll use to pace you as the year progresses.
Finally, you’ll drill down one final time to concretely map out on one page your Q1, 2021 plan of action. This way you and your entire team will be laser-focused as to exactly who needs to do what, by when to reach your Q1 milestones.
The Methodology for How We’ll Teach this 3-Day Intensive
We’ll be teaching this workshop based on three building blocks…
Building Block One: A Proven Framework
This course was developed from the actual real world experiences of the Maui Coaches and hundreds of our clients who have successfully done what we’re talking about in the course – crafted and executed on their exit strategy.
We’ll go straight to the answers that work, giving you a clear framework that takes the guesswork and trial and error experimentation out of the equation.
Building Block Two: Actual Case Studies
To make this framework easy to understand, you’ll be introduced to dozens of actual case studies of companies (good and bad).
This way applying the ideas and strategies you’re learning will be much clearer and more straightforward.
Building Block Three: Dedicated Time to “DO” During the Workshop
We know that the moment you get back home, all your good intentions to sit down and do your strategic planning will go out the window.
That’s why we’re setting aside approximately 6-8 hours of time spaced over the three days to have you actually wrestle with the big questions in your company and craft your strategic plan right there. This way, when you go home, you’ll leave with your concrete, written Strategic Action Plan for the year that you can immediately go back and share with your team.
"Eight years ago our sales were stalled at $450,000 and I was tied to the business, working long days with clients and doing admin and billing at night. They helped me change that. Eight years later, we’ve grown our sales to $5 million per year, but best of all, the company is no longer reliant on me. We have solid systems and a strong team in place who create more value for our clients than I could have ever imagined."
- Blake Schwank
"The results speak for themselves: Last year my business generated 9-times the operating profit than it did since that first Maui event I went to 5 years ago, and my net worth has increased tenfold. I have more time off, am more relaxed and a much better quality of life. It’s really hard to beat that return on my investment."
- Jennifer Lyle
"The content you will receive from this event is a game changer! The meaningful connections you will make with fellow business owners who “get you” is so huge! These events have grown me as a business owner to such a huge degree."
- Bret Taylor
"If you are working 50, 60, 70 hours a week, Maui Mastermind will help you get your life back while helping your business grow. We’ve tripled our operating profit and I work far fewer hours today than I did before my first Maui program seven years ago"
– Brian Thomson
IT HAPPENED FOR THEM, LET’S MAKE IT HAPPEN FOR YOU, TOO…
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