Exit This Way - How to always be exit ready with Michael DeSiato
Exit This Way is a compelling podcast series that delves into the world of exit planning, offering valuable insights and expert advice to business owners, entrepreneurs, and investors seeking to strategically exit their businesses or investments. Hosted by industry experts, each episode features in-depth interviews with top professionals from various fields, covering topics such as succession planning, business valuation, legal considerations, and more. Through real-life case studies, practical tips, and actionable strategies, "Exit This Way" equips listeners with the knowledge and tools they need to plan and execute a successful exit strategy that aligns with their goals and objectives. Whether you're a seasoned business owner or a budding entrepreneur, this podcast will inspire and inform you as you navigate the complex process of exit planning. Tune in to "Exit This Way" and get ready to exit your venture with confidence and success.
Exit This Way - How to always be exit ready with Michael DeSiato
Surviving the “5Ds” of Contingency with John Clidas, Senior Relationship Manager, Synovus Trust Company
In our latest episode of “Exit This Way,” our host, Michael Desiato, is joined by Senior Relationship Manager and seasoned expert, John Clidas, as they dive into a critical aspect of business planning – the ability to weather the 5Ds: divorce, disagreement, distress, death, and disability.
50% of business transitions are triggered by one of the 5Ds, making it imperative for business owners to plan for these scenarios. With 80-85% of a business owner's net worth often tied up in their business, failure to plan for these contingencies can result in the rapid loss of value.
Drawing on over 40 years of experience, John sheds light on the dimensions of business continuity planning. He stresses the significance of having a flexible and regularly reviewed plan, considering the family's well-being, the business's sustainability, and the owner's desires.
The conversation touches upon various planning aspects, including addressing the potential loss of financial capital and talent in case of death or disability. It also extends to the complexities of handling distress and disagreement.
While this is often a topic many owners might not want to talk about, it's imperative that you do. Let us all start that conversation with this episode.And remember, if you find this episode helpful, make sure to share it with others, subscribe, leave a 5-star review, and share it on your social media.