Exit Planning using Growth-Drive: Financial Advisor Interview
Summary: In this episode, George Sandman interviews Francis Brown, a strategic advisor with Brown Advisory. Francis helps high-net-worth families and business owners manage their wealth and prepare for the future. He emphasizes the importance of getting business owners transaction-ready and avoiding common mistakes. Francis also discusses the value of creating options for business owners and helping them understand the personal and professional goals they want to achieve. He highlights the role of a trusted advisor in guiding business owners through the complexities of growing and monetizing their businesses.
Takeaways
Takeaways
- Helping business owners become transaction-ready and avoid common mistakes is crucial for a successful outcome.
- Creating options for business owners and understanding their personal and professional goals is essential.
- Trusted advisors should focus on asking the right questions and helping business owners solve the right problems.
- Understanding the emotional and psychological factors that can impact business owners' decisions is important for effective advisory work.
Chapters
00:00 Introduction
02:55 Certified Business Exit Consultant
05:19 Focus on Helping Business Owners
05:56 Helping Business Owners Manage Wealth
07:23 Getting Business Transaction Ready
07:51 Changing the Timeframe for Business Growth
08:20 Preparing for a Better Transaction Outcome
09:44 Aligning Interests with Business Owners
10:30 Helping Business Owners Stay Focused
11:00 Communicating Value and Monetization
11:57 Understanding the Value of the Business
12:57 Helping Business Owners Overcome Obstacles
14:22 The Growth Conversation
15:20 Solving Business Owners' Problems
16:12 Creating an Immortal Business
18:18 Creating Options for Business Owners
20:04 Transitioning the Business to Family
21:03 The Role of a Psychologist in Business Transition
22:02 Breaking Through Self-Sabotaging Behaviors
23:33 Avoiding Getting Pulled into the Weeds
24:56 Asking Deep Questions to Understand the Problem
25:52 Respecting Business Owners' Decisions
27:00 Finding the Right Solution for Business Owners
27:59 Considering Different Transition Alternatives
30:21 Creating Accountability and Comp Plans
31:44 Avoiding Jumping to Solutions
32:41 Understanding the Compelling Problem
33:37 Uncovering the Real Reasons Behind Decisions
34:33 Finding the Right Solution for Business Owners
36:42 Introduction
00:00 Introduction
02:55 Certified Business Exit Consultant
05:19 Focus on Helping Business Owners
05:56 Helping Business Owners Manage Wealth
07:23 Getting Business Transaction Ready
07:51 Changing the Timeframe for Business Growth
08:20 Preparing for a Better Transaction Outcome
09:44 Aligning Interests with Business Owners
10:30 Helping Business Owners Stay Focused
11:00 Communicating Value and Monetization
11:57 Understanding the Value of the Business
12:57 Helping Business Owners Overcome Obstacles
14:22 The Growth Conversation
15:20 Solving Business Owners' Problems
16:12 Creating an Immortal Business
18:18 Creating Options for Business Owners
20:04 Transitioning the Business to Family
21:03 The Role of a Psychologist in Business Transition
22:02 Breaking Through Self-Sabotaging Behaviors
23:33 Avoiding Getting Pulled into the Weeds
24:56 Asking Deep Questions to Understand the Problem
25:52 Respecting Business Owners' Decisions
27:00 Finding the Right Solution for Business Owners
27:59 Considering Different Transition Alternatives
30:21 Creating Accountability and Comp Plans
31:44 Avoiding Jumping to Solutions
32:41 Understanding the Compelling Problem
33:37 Uncovering the Real Reasons Behind Decisions
34:33 Finding the Right Solution for Business Owners
36:42 Introduction
