Category: Financial Planning
Crafting Success Through Navigating Governance Challenges With Mike Catan (Ep. 33)

Crafting Success Through Navigating Governance Challenges With Mike Catan (Ep. 33)

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If you’re a business owner wrestling with the idea of passing the torch or expanding your family’s business footprint, take heart—you’re in good company.

In the latest edition of the Finish Big Podcast Mark Dorman talks with Mike Catan, the former CEO who propelled Pat Catan’s and Darice Incorporated from a humble family craft store to an impressive empire with 35 retail outlets and a comprehensive wholesale distribution network. Through Mike’s narrative, this episode explores the tactical execution of professional governance and the indispensable contributions of external advisors, equipping listeners with practical advice on future-proofing their business, promoting enduring success, and providing strategies for a successful exit. 

Mike Catan discusses: 

  • The early days and expansion of Pat Catan’s
  • Strategic decisions that led to the establishment of Darice Incorporated
  • Balancing family relationships while driving business expansion
  • The importance of professional management and strategic decision-making and having a strong governance structure in place
  • Having a well-defined exit strategy and preparedness for long-term planning
  • And more

 

Resources:

Connect with Mark Dorman: 

Connect with Mike Catan:

 

About our Guest: 

Mike Catan is the former CEO of Pat Catan’s and Darice Incorporated. Mike has been passionate about supporting not only his community but achievement centers for children for many years with a particular affinity for camp cheerful. Mike’s interests outside of business include his restaurant Square 22 in Strongsville, as well as multiple commercial and residential development projects under the umbrella of the Cameron Alley Group.

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Exploring Business Valuation and Market Dynamics with Scott Gabehart (Ep. 32)

Exploring Business Valuation and Market Dynamics with Scott Gabehart (Ep. 32)

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Do you understand the true value of your company?

In today’s enlightening conversation, Mark Dorman talks with Chief Valuation Officer at BizEquity, Scott Gabehart to shed light on the complexities of business valuation. With Scott’s extensive experience and insight, this episode demystifies the valuation process and illustrates how BizEquity’s innovative platform is making accurate valuations accessible to businesses of all sizes. By jumping into the nuances of key performance indicators, the influence of interest rates on mergers and acquisitions, and the evolving landscape of the market, this podcast brings forth tools that may help you navigate the financial intricacies of business effectively.

Scott discusses: 

  • The critical role of business valuation for entrepreneurs and business owners
  • Understanding key performance indicators (KPIs) in valuation reports
  • Changing dynamics of buyer and seller power in negotiating deals
  • Advantages of Small Business Administration (SBA)
  • And more

 

Resources:

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About Scott Gabehart: 

Scott is a Certified Business Appraiser and current Chief Valuation Officer for BizEquity. He has overseen the development of the patented valuation algorithm and related valuation report while ensuring that our industry and market data are current and relevant. For the past 20 years, he has been interacting with small business owners actively engaged in buying and selling companies of all types and sizes while teaching graduate level private firm valuation and authoring books including “The Business Valuation Book”.

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CEPA and Business Transition Triumphs with Steve Hopkins (Ep.31)

CEPA and Business Transition Triumphs with Steve Hopkins (Ep.31)

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What do you need to make the most of your succession plan? What strategies and information could exit planners provide?

Join Mark Dorman and his guest Steve Hopkins, Owner of Charter BTA, in exploring the critical nature of devising contingency plans for business owners. Together they touch on the advantages of having a CEPA credential and the contributions of the Exit Planning Institute. 

Mark and Steve discuss: 

  • His background in business exit transition planning
  • What the Certified Exit Planning Advisor (CEPA) designation is and why is Steve pursuing it
  • How Steve’s personal background and career path have been influenced by entrepreneurship
  • Why succession planning is important for both older and younger business owners
  • And more!

 

Resources:

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About our Guest: 

Steve Hopkins understands risk. The riskiest period in the life of any closely-held business is when it transitions to a next generation; whether to family, insiders, or a third party sale, the value of a life’s work becomes vulnerable. Steve’s professional focus is guiding business owners through the perils of transitioning ownership and management; maintaining and enhancing business value in the process.

His career path started with Marsh USA in the world of large scale risk management and continued as a commercial Property & Casualty agent, managing and insuring risks for Oregon commercial enterprises. Understanding legal and tangible risks expanded to include personal and financial risks, which led to business succession and personal estate planning. In the late ’90s he leveraged his experience of 13 years with his Finance/Law degree and joined a Portland planning firm adding a general securities license to his complete complement of insurance licenses. Today he is an independent contractor affiliated with a short list of commercial Property & Casualty agencies who serve mostly closely-held businesses in the Pacific Northwest.

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Exiting a Family Business with Mike Swiatkowski (Ep. 30)

Exiting a Family Business with Mike Swiatkowski (Ep. 30)

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Are you working in a family business? Do your values align with the company values and trajectory? 

Mark Dorman speaks with Mike Swiatkowski, VP of Corporate Development at Gordon River Partners, about his journey through his family business. From starting at the company, to promoting growth after his father passed, to leaving the family business behind, Mike shares his emotional journey through the business and the role his personal values played in making his decisions.

Mike discusses: 

  • The beginnings of his family’s company
  • His first position within the company once he joined
  • Why he opted to work for a different company after graduating from college
  • The main struggles he faced when joining the company and developing it for the future
  • Why he eventually chose to leave the company
  • And more

 

Resources:

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Connect with Mike Swiatkowski:

 

About our Guest: 

Mike Swiatkowski has over 20 years of food & beverage industry experience. Throughout his career, Mike has been successful in building strong internal leadership teams, streamlining operations and implementing best-in-class quality control systems. Early in his career, he assumed a leadership role at a national snack company, Hickory Harvest Foods, where his strategic initiatives resulted in consistently generating new business annually.

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The Evolution of Investment Banking in M&A Strategies with Paul Carleton (Ep. 29)

The Evolution of Investment Banking in M&A Strategies with Paul Carleton (Ep. 29)

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Private equity firms have evolved since they first started growing in the eighties. What role do they currently play in M&A procedures and business planning?

Listen in as Mark Dorman and his guest Paul Carleton, founder and managing partner of Carleton McKenna, share stories from Paul’s initial steps in the field. Explore how investment banking has evolved and become more specialized, and reflect on the burgeoning world of private equity. Paul highlights the critical role of storytelling in drumming upmarket competition and sheds light on how investment bankers play a key part in getting businesses ready for sale.

Mark and Paul discuss: 

  • The evolution of the investment banking industry
  • How does an investment banking firm establish its value and create competition in the marketplace
  • What approach does Carleton McKenna take when working with clients
  • Why is continuous learning important for both clients and advisors
  • And more

 

Resources:

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About our Guest: 

Paul H. Carleton is Managing Partner of Carleton McKenna & Co., LLC, which was founded in 2001 to provide strategic and financial consulting services to corporations with a focus on healthcare, technology, and consumer products.

From 1978 to 1988, Paul held various titles at McDonald & Company and achieved the position of Managing Director in charge of the Investment Banking Group of the firm. In 1988 he formed the Carleton Group which in 1993 was transitioned to Carleton, McCreary, Holmes & Co. He held the position of Senior Managing Director at CMH, a position he maintained through the firm’s acquisition by KeyCorp in 1996. 

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Addressing Emotions When Exiting Business with Jerome Myers (Ep. 28)

Addressing Emotions When Exiting Business with Jerome Myers (Ep. 28)

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Are you ready to exit your business? Maybe you are financially, but what about emotionally?

Join Mark Dorman and his guest Jerome Myers, host of the Dreamcatchers Podcast, in discussing how he transitioned from engineering to real estate and coaching. Jerome dives into the challenges that founders often face after exiting their businesses, stressing the need for emotional preparation during this phase and how to navigate the complexities that arise.

Jerome explores: 

  • Where founders face challenges and emotions during the post-exit phase
  • The “Eight Exits” of a founder
  • The importance of addressing the emotional and identity-related aspects of exiting a business
  • How can we normalize feelings of dissatisfaction and the desire for more fulfillment
  • Defining the “founder’s exit paradox” and 
  • What resources are available to assist in navigating the exit transition
  • And more!

 

Resources:

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Connect with Jerome Myers:

About our Guest: 

An award-winning engineer turned business strategist, Jerome uses his rich experience and innate understanding of human emotions to ensure that your journey from the corporate world to entrepreneurship is a fulfilling one.

At the helm of a division of a multibillion-dollar Fortune 550 company, Jerome created a thriving $20M operation with 175 dedicated team members. Now, he employs that expertise to advise leaders across diverse industries, from real estate to healthcare, guiding them to double their revenue, harmony in their work-life integration, and ramp up their charitable contributions.

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Tanya DiSalvo’s Journey in Manufacturing and Leadership (Ep. 27)

Tanya DiSalvo’s Journey in Manufacturing and Leadership (Ep. 27)

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Ever wondered how a family business navigates leadership transitions? 

In this episode, Mark Dorman speaks with Tanya DiSalvo, CEO of Criterion Tool, on the history of Criterion Tool, a family business focused on precision manufacturing started by her grandfather, and her own unexpected journey into the manufacturing industry. She shares how the business transitioned from her father to her, why it took several years, and the evolution the business has achieved since it was first established.

Tanya discusses: 

  • What precision manufacturing is and what her company produces
  • How her family business started
  • Why she chose to join the family business after initially heading in a different direction
  • The growth of women within the manufacturing industry
  • And more

 

Resources:

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About our Guest: 

Tanya DiSalvo has been a CEO and Owner at Criterion Tool for over 25 years, as well as working as a Performance Coach at Full Focus since 2020. As an experienced leader in the manufacturing sector, Tanya was a 2014 STEP Aware Honoree for being among the outstanding women in the fields of science, technology, engineering, and production.

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How to Exit Like a Boss with Dr. Craig West, Founder of Succession Plus (Ep. 26)

How to Exit Like a Boss with Dr. Craig West, Founder of Succession Plus (Ep. 26)

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Are you planning your business exit for yourself or your potential buyers? That small shift in perspective could increase your chances of a successful exit.

In this episode, Mark Dorman speaks with Dr. Craig West, founder and executive chairman of Succession Plus, on his nine-step exit plan and how he helps business owners achieve their optimal exit strategy. Dr. West shares how Capitaliz revolutionized exit planning and what entrepreneurs should look for when exiting their businesses.

Dr. West discusses: 

  • How he entered the exit planning space
  • The growth of Succession Plus as a business and how it helps clients
  • His nine steps to successful exit planning
  • The importance of reducing risk to attract potential buyers 
  • The creation of Capitaliz, a software solution that streamlines the exit planning process
  • What is the process and approximately how long it takes to address gaps and issues in a business to increase its value
  • And more

 

Resources:

Connect with Dr. Craig West:

Connect with Mark Dorman: 

 

About our Guest: 

Craig West is a strategic accountant with over 20 years of experience advising business owners. His background as a CPA in public practice has provided invaluable experience in the key issues of concern to business owners.

Following 6 years of study to gain two master’s degrees, Craig focused on Capital Gains Tax (CGT) for business sales advising on strategic management of taxation issues. This experience formed a strong view that most business owners (and often their advisers) were unprepared and unaware of the steps required to prepare for an exit.

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Maximizing the Value of Your Business in the Lower Middle Market with Diane Thomas, President of Premier Sales (Ep. 25)

Maximizing the Value of Your Business in the Lower Middle Market with Diane Thomas, President of Premier Sales (Ep. 25)

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One of the key strategies to exit planning is selling a business. But how can business owners ensure they get the best return while their business has the best value?

In this episode, Mark Dorman is joined by Diane Thomas, President and designated broker at Premier Sales, Inc., in discussing the importance of strategic planning and value maximization for businesses. Diane shares success stories of businesses that significantly increased their profitability and were sold for millions of dollars.

Diane focuses on: 

  • How she entered the business brokerage arena
  • Why market dynamics are changing and their impact on exit planning
  • Success stories she witnessed of business owners maximizing their exit
  • How she analyzes the future potential of business consulting for potential clients
  • And more

Resources:

Connect with Mark Dorman: 

Connect with Diane Thomas:

About our Guest: 

As President of Premier Sales, Inc., a 30 year old business brokerage firm in Arizona, Diane Thomas manages business sales transactions and engagements with privately held companies with revenue from $2 to $40 million. The Premier Transactional Team achieves a 75% success ratio, which is well above the industry average of 30%.

Diane believes planning is essential to success. Together with her value creation affiliate companies, Legacy Advisors Arizona and Legacy C-Suite, a client centric approach is developed. This includes: Value Enhancement; Business Continuity & Succession Planning; and, Business Exit Strategies to achieve stakeholder objectives. By designing a strategy first, Diane and her team are aligned with clients on goals and priorities. 

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How Rising Interest Rates Impact Business Valuations with Robert “Brant” Hammer, Assistant Professor at West Virginia University (Ep. 24)

How Rising Interest Rates Impact Business Valuations with Robert “Brant” Hammer, Assistant Professor at West Virginia University (Ep. 24)

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Preparing to exit your business starts with understanding where your business’s value currently sits and how that value will impact your exit. How could market shifts impact that valuation?

In this episode, Mark Dorman speaks with Robert Brant Hammer, a finance professor at West Virginia University, on the current economic environment, focusing on interest rates, inflation, and growth. Brant explores how understanding what impacts business valuation relates to exit planning and what current business owners should review as the market shifts.

Brant discusses: 

  • What the current economic environment looks like from a number of perspectives
  • How rising interest rates impact business owners
  • The challenges of finding good deals in the current environment
  • Why business owners need to understand the impact of the market on their business valuation when preparing to exit
  • And more

Resources:

Connect with Brant Hammer:

Connect with Mark Dorman: 

About our Guest: 

Robert Hammer earned his undergraduate degree in finance at West Virginia University and his M.S. Finance degree at West Virginia University. Prior to joining WVU full time, he spent 8+ years in industry, primarily banking and consulting, while also working as an adjunct finance faculty member for WVU. His specialties and areas of interest include business valuation, corporate finance, banking and disruptive financial technology, credit risk management, portfolio management system design, and bitcoin. He is a member of The Risk Management Association.

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