Before acquiring a business, professionals must first do some background study on the business entity. Risk assessment is one way to learn about a business, to see what potential risks exist and how susceptible the business is to them. The term "Key Person risk" tops the list of risk assessments. This key individual is someone whose presence is absolutely necessary to the business.

Cindy Fields, the CEO, and founder of Loyalty Alliance is our guest on this episode. She talks about how a company's "Key Person" influences the entire business entity. She also mentioned the people who are referred to as the company's key personnel and how businesses have been purchasing Key Person Insurance to reduce the chance of failure during acquisitions. Finally, She offers our listeners some key points and recommendations.

Key Takeaways

What is the Loyalty Alliance and what do they do?
The importance of Key Person Insurance to M&A
Who usually is the Key Person in a business?
Takeaways and advice from Cindy

Quotes

"Key person insurance is defined as insurance for an individual at the company. It's an individual whose job is so pivotal to the company that if something happens to them, the company will be greatly affected." - Cindy

"I love key person insurance because I love protecting the companies, helping companies grow, talking to the CEOs about their companies and knowing them, and making sure they have the right protective mechanisms in place to achieve what's important to them." - Cindy

Featured in this Episode

Christopher Lisle
Growth strategy advisor for the ecosystem of investors, banks, and the companies they work with (middle market).
Linkedin: https://www.linkedin.com/in/kit-lisle
Websites: Acclaropartners.com / strategicgrowthcouncil.com
Contact: kit@strategicgrowthcouncil.com / 703-867-7269

Cindy Fields
President & Founder of Loyalty Alliance, Inc
Linkedin: https://www.linkedin.com/in/cindyafields
Twitter: https://twitter.com/theLAIWay
Website: https://loyaltyalliance.com

Words from our Sponsors

Thanks to our sponsors Acclaro Growth Partners, a strategic consulting firm serving middle market mergers and acquisitions. You can visit acclaropartners.com. Our other sponsor, of course, is Strategic Growth Council, not the podcast, but the Peer Advisory Council slash virtual roundtable slash mastermind group for senior execs and business owners. Contemplating what an acquisition, a sale, or just strategic growth? Strategic Growth Council collaborates with participants in the M&A ecosystem, such as private equity groups, lenders, investment banks, and relevant service providers. Visit strategicgrowthcouncil.com to learn more.

Chapters

00:00 Introduction
01:46 Our guest’s background
04:38 What is Loyalty Alliance and what do they do?
10:46 How does Key Person Insurance come into play in different situations?
14:07 Who purchases the insurance for that key person?
20:13 The difference between key person insurance versus a typical insurance
23:21 The opportunities and challenges of growing her business
25:56 Takeaways from our guest
28:30 How to connect with Cindy and Loyalty Alliance

This podcast is produced by Heartcast Media
https://www.heartcastmedia.com/

Branding for a company is more crucial than you would realize. Your brand is not only the logos and colors that you see but it is also the personality of your brand. Some businesses are struggling in building their brands. One of the struggles is how to communicate and establish their values in front of their customers. In this episode, Chris Faust, founder, and CEO of Fastlane, an independent, full-service branding, marketing, and communications agency, will discuss what branding is and how to establish the values of the brand and communicate it with the target audience. He also talks about how they help their clients establish their brand in front of their customers and what typical clients they’ve handled. Lastly, he gives some takeaways about what are his hopes and dreams for the future.

Key Takeaways

Chris's background and his company
What are Fastlane and its place in the market
Definition of branding and why companies are having problems with establishing brand values
The clients they worked with and the challenges they experienced
Takeaways and wishes from our guests

Quotes

"Branding goes well beyond just a good logo. It involves the entire totality of the experience and touchpoints that a customer or a buyer, B2B or B2C has with that company." - Chris

"We walk our clients through what we call a value ladder. The value ladder is ultimately asking questions that can provide feedback to make the customer's experience better." - Chris

Featured in this Episode

Christopher Lisle
Growth strategy advisor for the ecosystem of investors, Banks, and the companies they work with (middle market).
Linkedin: https://www.linkedin.com/in/kit-lisle
Websites: Acclaropartners.com / strategicgrowthcouncil.com
Contact: kit@strategicgrowthcouncil.com / 703-867-7269

Christopher Faust
Founder & CEO, Fastlane
Linkedin: https://www.linkedin.com/in/cmfaust
Profile: https://fastlane.co/chris-faust/
Company Website: https://fastlane.co/

Words from our Sponsors

Thanks to our sponsors Acclaro Growth Partners, a strategic consulting firm serving middle market mergers and acquisitions. You can visit acclaropartners.com. Our other sponsor, of course, is Strategic Growth Council, not the podcast, but the Peer Advisory Council slash virtual roundtable slash mastermind group for senior execs and business owners. Contemplating what an acquisition, a sale, or just strategic growth is? Strategic Growth Council collaborates with participants in the M&A ecosystem, such as private equity groups, lenders, investment banks, and relevant service providers. Visit strategicgrowthcouncil.com to learn more.

Chapters

00:00 Introduction
01:57 About Chris
06:21 What is Fastlane and where does it fit in the market?
10:10 Working with global leader businesses
13:14 What is the reason that clients come to you?
16:38 Experience with clients that wants acquisition
19:10 Helping clients to prepare pending sales from a marketing communications standpoint
22:51 How do you define the value of a brand?
31:17 What are the typical clients you work with and what are the challenges?
38:10 Thoughts about peer advisory network groups
41:15 Chris sharing his hopes and dreams
44:17 Conclusion

This podcast is produced by Heartcast Media
https://www.heartcastmedia.com/

It takes timing, preparation, and strategy to sell a firm. These are all a part of the procedure, which, depending on the size of your organization, may occasionally be difficult. To get you the finest outcomes and uphold the reputation of the company you've built most in your life, there are services out there that may offer you consultations and even coaching. In today's episode, Kit invited Phil Curatilo, founder of Alinea Growth, an exit prep consulting and coaching firm. They discuss the proper process of selling a business, things to practice when planning to sell, the difference between consulting and coaching, the rules when thinking about selling the business, and lastly some key points about the distinction between investment banks and business brokers.

Key Takeaways

Who is Alinea Growth and what are its services
Examples of the area of weakness during the selling process of businesses
Consulting services versus Coaching services defined by our Guest
The future of Alinea Growth and where it headed to
The rules and facts they established when selling the business
The difference between investment banks and a business broker

Quotes

"If you're talking as a standalone business, a new platform for buyers, customer concentration is in fact important." - Phil

"One positive thing that the pandemic gave us is that people are now and companies are now much more willing to participate in learning and meeting like we're doing right now virtually." - Phil

"Consultants usually have a specific area of expertise and coaches takes some of it but they will help you discover things, meaning you do some work on your own to help you that discovery." - Phil

Featured in this Episode

Christopher Lisle
Growth strategy advisor for the ecosystem of investors, IBanks, and the companies they work with (middle market).
Linkedin: https://www.linkedin.com/in/kit-lisle
Websites: Acclaropartners.com / strategicgrowthcouncil.com
Contact: kit@strategicgrowthcouncil.com / 703-867-7269

Phil Curatilo
Founder, Alinea Growth
Linkedin: https://www.linkedin.com/in/philcuratilo
Company Website: http://alineagrowth.com

Words from our Sponsors

Thanks to our sponsors Acclaro Growth Partners, a strategic consulting firm serving middle market mergers and acquisitions. You can visit acclaropartners.com. Our other sponsor, of course, is Strategic Growth Council, not the podcast, but the Peer Advisory Council slash virtual roundtable slash mastermind group for senior execs and business owners. Contemplating what an acquisition, a sale, or just strategic growth is? Strategic Growth Council collaborates with participants in the M&A ecosystem, such as private equity groups, lenders, investment banks, and relevant service providers. Visit strategicgrowthcouncil.com to learn more.

Chapters

00:00 Introduction
01:47 What is Alinea and its origins
02:45 Our guest's background and his business ---
06:47 Common examples of an area of weakness in selling the business
18:46 Webinars as a way of learning things
20:33 Clients they cater
23:25 Importance of peer groups
27:18 Definition of coaching from our guest
29:27 Where is business heading to
31:16 8 unassailable facts
36:18 investment banks vs business brokers

Produced by Heartcast media
https://www.heartcastmedia.com/

It takes a lot of effort and time to plan an exit strategy for your company, especially if you don't know much about it. It is best to hire an experienced expert to complete these tasks. In this episode, Kit invited Caroline Young, the CEO and founder of Craftsbury Consulting, a business consultancy that provides assistance with exit planning, preparedness, and executive coaching. Caroline discusses her personal experiences as well as how she started her consulting firm. She continues by outlining their services, which include business coaching and exit planning. She also talks about her expertise in M&A and how she used her abilities to help her clients succeed. If you're interested in learning more about organic growth, growth by acquisition, or the sale of your company, this will be interesting and useful for you.

Key Takeaways

Caroline's Business Coaching and Exit planning services
The definition of Private Equity
Caroline's Business Coaching and the 360 feedback
Caroline's approach to exit planning strategy

Quotes

"I love learning about new companies and helping people, find the strength of that company in a way that buyers are going to fall in love with it." - Caroline

"I'm not a certified coach, but leveraging my experience to help people has been super effective." - Caroline

Featured in this Episode

Christopher Lisle
Growth strategy advisor for the ecosystem of investors, banks, and the companies they work with (middle market).
Linkedin: https://www.linkedin.com/in/kit-lisle
Websites: Acclaropartners.com / strategicgrowthcouncil.com
Contact: kit@strategicgrowthcouncil.com / 703-867-7269

Caroline Young
CEO and Founder of Craftsbury Consulting
Linkedin: https://www.linkedin.com/in/caroline-young-b634332b
Profile: https://craftsburyconsulting.com/about-us/meet-craftsburys-founder
Company Website: https://craftsburyconsulting.com/

Words from our Sponsors

Thanks to our sponsors Acclaro Growth Partners, a strategic consulting firm serving middle market mergers and acquisitions. You can visit acclaropartners.com. Our other sponsor, of course, is Strategic Growth Council, not the podcast, but the Peer Advisory Council slash virtual roundtable slash mastermind group for senior execs and business owners. Contemplating what an acquisition, a sale, or just strategic growth is? Strategic Growth Council collaborates with participants in the M&A ecosystem, such as private equity groups, lenders, investment banks, and relevant service providers. Visit strategicgrowthcouncil.com to learn more.

Chapters

00:00 Introduction
01:45 Guest's background and what she does
08:13 coaching and exit planning services
10:08 What is private equity?
13:34 Business coaching
15:13 Importance of feedback
20:35 Caroline's edge compare to other coaches
22:11 Are there people who are uncoachable?
23:56 Preparing the business for sale
26:21 Entrepreneurial operating system
27:34 Some case studies
36:42 About retreat and how to reach Caroline

This podcast is produced by Heartcast Media
https://www.heartcastmedia.com/

Having to join Peer advisory groups is one of the best recommendations you get as these groups provide unique insights and support for your business growth. Additionally, it can assist you in developing your leadership abilities because some of your peers are expert leaders in their respective fields and will impart knowledge and insight to you that isn't found in business books.

In this episode, Kit welcomes Todd Russell, a partner at RSM, a full-service professional services company that offers tax audit consulting and M&A-related services to the middle market. Kit and Todd talk about the value of participating in peer advisory groups and the advantages of working with RSM as a business partner. Todd also highlights RSM's unique characteristics and its place in the middle market environment.
If you're interested in learning more about organic growth, growth by acquisition, or the increase of capitalization of your company, this will be interesting and useful for you.

Key Takeaways

The core meaning of doing Peer Advisory Councils
Benefits of partnering with RSM
Where RSM fits in the ecosystem of the middle market
Benefits of joining peer advisory councils
What separates RSM from its rivals

Quotes

"The peer advisory council is a safe environment for business professionals to share their problems and ideas. This is an environment where they don't have to worry about a competitor." - Todd

"We strive to stand out among our customers by truly earning those deep loyal relationships by understanding them, understanding their needs, and understanding their business from all angles." - Todd

Featured on this Episode

Christopher Lisle
Growth strategy advisor for the ecosystem of investors, IBanks, and the companies they work with (middle market).
Linkedin: https://www.linkedin.com/in/kit-lisle
Websites: Acclaropartners.com / http://strategicgrowthcouncil.com/
Contact: kit@strategicgrowthcouncil.com / 703-867-7269

Todd Russell
Partners at RSM
Linkedin: https://www.linkedin.com/in/todd-russell-1796259
Company Website: https://rsmus.com/

Words from our Sponsors

Thanks to our sponsors Acclaro Growth Partners, a strategic consulting firm serving middle-market mergers and acquisitions. You can visit acclaropartners.com. Our other sponsor, of course, is Strategic Growth Council, not the podcast, but the Peer Advisory Council slash virtual roundtable slash mastermind group for senior execs and business owners. Contemplating what an acquisition, a sale, or just strategic growth? Strategic Growth Council collaborates with participants in the M&A ecosystem, such as private equity groups, lenders, investment banks, and relevant service providers. Visit strategicgrowthcouncil.com to learn more.

Chapters
00:00 Intro
01:57 Todd's background
03:11 Defining Peer Advisory Councils
05:44 Support and trust vulnerability
10:22 Benefits in partnership with RSM
14:11 Where does RSM fits in the ecosystem of the middle market
17:34 Significant topics Todd learned over the years
19:37 Benefits of participating in peer advisory council
21:24 The difference between RSM to others
25:36 Thoughts on offering peer advisory council
26:37 Todd's next journey

Produced by Heartcast Media
https://www.heartcastmedia.com/

Many firms focus on issues that affect them right now, such as marketing, HR, sales, cash flow, and so on. Having or formulating an exit strategy for them is unrealistic since they do not expect to sell their company anytime soon. However, you cannot avoid departing your business, and research found that over 70% of businesses had no exit strategy at all. Having an exit strategy plan as soon as necessary can benefit you and your business since you will have a clearer picture of what your business will be in the future, giving you recommendations on how to develop it today.

In today's podcasts, Kit invited Gerald Radican of Veritas Financial, and Rick Scruggs of Financial Designs and they talked about the importance of having an exit strategy in your business. The episode starts with telling background information about our guests and what are the benefits of formulating exit strategies for your business. They also share the ideal Time Frame to set to have a successful exit strategy and what are the factors to look at during the set time frame. They notably said that in every business, solutions, and processes are different from each other as they said no one solution fits all. They also share some case examples from their experience and lastly they provide some insights and lessons learned from their many years in business.

If you're interested in learning more about organic growth, growth by acquisition, or the increase of capitalization of your company, this will be interesting and useful for you.


Key Takeaways

The Benefits in Collaboration with Firms That Can Advise Exit Plans in Businesses.
The Optimum Time Frame in Selling Business and The Factors To Look at
Doing Due Diligence is Still Important in the Exit Plan Strategy
The Difference between Our Guest from The Others
Challenges and Big Lessons That The Guests Learn in This Business Journey

Quotes

Every situation is going to vary. It's going to depend on the size of company ownership, and tax status as an S-corp or C-Corp. So one size does not fit all. - Gerald

It's lonely at the top, in the sense that you have no one on your team to talk to about succession, selling the business, or planning to sell the business until the moment is right. -Kit

I would say that what differentiates us is We run a personal financial plan parallel to a business plan every time we work with business owners and we come in often to find out that no business owners ever really do a personal financial plan. - Gerald

What sets us apart from other businesses is that we want to listen first, then ask excellent questions before offering answers. - Rick

Featured on this Episode

Christopher Lisle
Growth strategy advisor for the ecosystem of investors, IBanks, and the companies they work with (middle market).
Linkedin: https://www.linkedin.com/in/kit-lisle
Websites: Acclaropartners.com / http://strategicgrowthcouncil.com/
Contact: kit@strategicgrowthcouncil.com / 703-867-7269

Gerald J Radican
Partner At Veritas Financial
Profile: vfwealth.com/team/gerald-radican
Linkedin: https://www.linkedin.com/in/gerald-j-radican
Website: https://vfwealth.com

Rick Scruggs, CLU, ChFC, C(k)P
Partner At Veritas Financial | Principal at Financial Designs
Linkedin: https://www.linkedin.com/in/rick-scruggs-clu-chfc-c-k-p%C2%AE-5257a729
Website: Show more...