Category: Uncategorized
Navigating the Emotional and Practical Aspects of Business Transitions With Joe Scheid (Ep. 37)

Navigating the Emotional and Practical Aspects of Business Transitions With Joe Scheid (Ep. 37)

By |

Are you a business owner standing at the crossroads of change, wondering what to do next? 

You’re not alone.

In this episode, Mark Dorman and founding member of the Legacy Advisors Network, Joe Scheid tackle the often-overlooked but critical issue that business owners face: the complex challenge of financial planning during pivotal transitions. Together they unravel the emotional and technical layers of financial decisions, drawing on Joe’s involvement with the Legacy Advisors Network and the Exit Planning Institute. By exploring the capabilities of the Capitalize software and discussing the emotional journey of business owners, you will gain valuable insights and actionable strategies for preparing for business transitions.

Joe Scheid discusses: 

  • His journey to the private and family business owner marketplace
  • The Exit Planning Institute (EPI)
  • Challenges of financial planning during business transitions
  • How the Capitaliz software aids financial planning
  • And more

Resources:

Connect with Mark Dorman: 

Connect with Joe Scheid:

About our Guest: 

Joe Scheid, AIF®, CEPA®, CFBS®, CLTC® has transformed the lives of clients for nearly 28 years. With a unique and down-to-earth approach to financial planning, he empowers individuals and families to make sound decisions. Joe excels in guiding small and mid-sized business owners towards measurable and attainable financial objectives. Recognized for his capabilities as a financial advisor and small business resource, he prioritizes principles of character, integrity, excellence, and service.

Joe Scheid is a registered representative of and offers securities, investment advisory and financial planning services through MML Investors Services, LLC. Member SIPC (www.sipc.org) 17550 N. Perimeter Dr. Suite 450, Scottsdale AZ 85255. (480) 538-2900. CRN201911-221364

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS
Executing A Successful Exit Plan With Rich Craig (Ep. 36)

Executing A Successful Exit Plan With Rich Craig (Ep. 36)

By |

With a rapidly evolving marketplace and the persistent talent shortages in the accounting industry, the need for expert guidance in succession planning has never been more critical

In this insightful episode, Mark Dorman speaks with Rich Craig, Managing Partner at 415 Group. Together, they discuss the intricacies of growing an accounting firm and the broader challenges that the industry faces. Rich imparts his wisdom on the vital topic of succession planning for business owners, underlining the significance of strategic foresight and the support of trusted professionals. By exploring the 415 Group’s approach to fostering advisory boards and their dedication to consistent client collaboration, you will learn how to navigate the complex exit process confidently and strategically.

Rich discusses: 

  • The history, growth, and expansion of the 415 Group
  • Challenges and solutions to the talent shortage in the accounting industry
  • Succession planning
  • Collaboration with other firms
  • And more

Resources:

Connect with Mark Dorman: 

Connect with Rich Craig:

About our Guest: 

As managing partner at 415 Group, Rich Craig manages a portfolio of client accounts, while also being responsible for the day-to-day operations of the firm. For over 30 years, he’s brought a wealth of accounting and consulting expertise to the firm with a focus on business valuation, forensic accounting, merger and acquisition assistance, as well as corporate tax and structured growth planning.

Having served as an expert witness in hundreds of court cases, Rich has a deep understanding of business valuation, forensic accounting, and economic damages as they relate to the law. Beyond litigation, Rich shares his expertise as a nationally requested speaker at many legal CLE and accounting CPE educational events.

Rich brings a unique background to 415 Group’s clients, allowing them to go beyond tax planning and compliance to entrepreneurial growth and success. He has previously used his skillset to work in the National Tax Department in Washington D.C. at Ernst & Young and on the Accountant Advisory Council for Intuit, Inc., based in Mountain View, California.

As a leader in the firm, he has a keen eye for matching clients with the right team to best serve their needs. He values collaboration, knowing that a team with a diverse skill set is a stronger advocate for clients than just one individual. That culture is embraced by both clients and staff and has helped the firm grow from 15 to over 100 associates during his time at the firm.

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS
The Remarkable Journey of The Pearl Valley Cheese Company With Chuck Ellis (Ep. 35)

The Remarkable Journey of The Pearl Valley Cheese Company With Chuck Ellis (Ep. 35)

By |

Have you ever wondered what it takes to run and operate a successful business?

How about doing it over multiple generations spanning nearly a century?

In the latest installment of the Finish Big Podcast, Mark Dorman sits down with Chuck Ellis, recently retired president and CEO of the renowned Pearl Valley Cheese Company in Ohio. Listen as they delve into the rich history, challenges, and expansions of the cheese industry, offering valuable insights into the evolving landscape of family businesses and the cheese production process.

Guest discusses: 

  • The Swiss immigrant influence on the cheese industry in Ohio
  • The journey of Pearl Valley Cheese from the early nineteen hundreds to the present day
  • The impact of regulatory pressures and expansions on the business
  • Cheese pricing, milk markets, and margins in the industry
  • Family dynamics in business
  • And more

Resources:

Connect with Mark Dorman: 

Connect with Chuck Ellis:

About our Guest: 

Chuck is the recently retired president and CEO of the Pearl Valley Cheese Company. A company that for nearly 100 years has been making an assortment of cheeses in Fresno, Ohio.

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS
Maximizing Sales Strategies With Melanie French (Ep. 34)

Maximizing Sales Strategies With Melanie French (Ep. 34)

By |

Do you need help with developing sales functions in your business? 

Well, don’t go anywhere because you’ve come to the right place!

This week, guest Melanie French, a fractional VP of Sales, joins Mark Dorman to discuss the importance of developing and improving sales functions in mid-size companies. Melanie shares her journey from a Sales Contributor to a VP of Sales, highlighting the challenges and growth strategies she implemented. The conversation delves into key topics such as the significance of sales strategy, process, CRM utilization, sales team management, and the impact of structured sales management on business value. 

Melanie French discusses: 

  • Her journey to becoming a fractional VP of Sales
  • The importance of studying metrics for both results and activities
  • Utilizing CRMs and structured sales processes
  • Emphasizing the need for a structured hiring process and a hiring manager who knows what to look for in prospective salespeople
  • Tracking KPIs and cultivating a culture of accountability
  • And more!

Resources:

Connect with Mark Dorman: 

 

Connect with Melanie French:

About our Guest: 

Melanie French founded French Sales Solutions in 2020, following a decade-long journey within a company that underwent remarkable growth, from $50M to $230M. She ascended within the company, securing multiple promotions until reaching the position of Vice President of Sales. In this role, she managed over 75 sales and service professionals across 5 teams, showcasing her expertise in business development, scaling sales processes, people management (including hiring, firing, and accountability), and refining operational sales and business practices.

Drawing from her extensive experience in Sandler sales training, both as an individual contributor and in leadership positions, Melanie now leverages her skills to enhance sales performance through consulting and fractional VP of Sales engagements.

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS
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)

By |

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. 

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS
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)

By |

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.

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS
A Look Behind the Scenes at EPI with Scott Snider, President of the Exit Planning Institute (Ep. 23)

A Look Behind the Scenes at EPI with Scott Snider, President of the Exit Planning Institute (Ep. 23)

By |

When you want to exit your business, you want to know you’re doing it right. Learning from someone who not only exited their own business successfully but also developed a strategy easily replicated for other business owners is a great step to exiting successfully.

In this episode, Mark Dorman speaks with Scott Snider, President of the Exit Planning Institute, on his entrepreneurial journey, starting from his first business shining shoes for his father as a child. They discuss the value acceleration methodology developed by his father and how it helps business owners successfully exit their companies. 

Scott discusses: 

  • How he started his entrepreneurial journey
  • What the Value Acceleration Methodology is
  • The benefit of exit planning institutes for business owners
  • How Covid changed their business method for the better
  • And more

Resources:

Connect with Mark Dorman: 

Connect with Scott Snider:

About our Guest: 

Scott Snider is the President of the Exit Planning Institute (EPI) and the Operating Partner of Snider Premier Growth, a small family investment company. Scott is a nationally recognized industry leader, growth specialist, and lifetime entrepreneur. He launched his first business at the age of 17. At 24, he sold to a strategic buyer (his first “exit”) and joined his fathers, Chris Snider, private exit planning and M&A firm Aspire Management. At the time, the firm was looking to dominate Northeast Ohio’s exit planning space.

With their passion for business strategy and serving owners and advisors alike, Scott and his father Chris purchased the Exit Planning Institute (EPI), introduced the Value Acceleration Methodology, wrote an award-winning book called Walking to Destiny, and effectively increased the business size by 10x. 

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS
Turning a Business into a Sellable Asset with Scott Duke, Founder of OpnRoad (Ep. 22)

Turning a Business into a Sellable Asset with Scott Duke, Founder of OpnRoad (Ep. 22)

By |

When looking to exit a business, selling it can be a great option for some entrepreneurs. But how can you ensure your business is sellable? Is there an emotional aspect to selling your business?

In this episode, Mark Dorman speaks with Scott Duke, founder of OpnRoad, on his experience in building many businesses and selling them, discussing the challenges he faced and the lessons he learned along the way.

Scott discusses: 

  • The process of building his property management company, Revelstoke, and the challenges he faced
  • Importance of implementing systems, processes, and open book management to drive value in a business
  • The emotional impact of selling a business 
  • Why businesses struggle to sell when they are dependent on the owner
  • The purpose of his company, OpnRoad, and how they service the lower middle market
  • How they valuate a business to determine whether it’s sellable and transferable
  • And more

Resources:

Connect with Mark Dorman: 

Connect with Scott Duke:

About our Guest: 

Scott Duke is the founder and lead advisor of OpnRoad. He has worked with hundreds of owners to  maximize the value of their businesses. Beyond leading the OpnRoad team, he serves as the Lead Advisor on their M&A transactions.

Scott is an active board member of the International Business Brokers Association® and regularly educates 250+ Realtors through the British Columbia Real Estate Association®. He also serves as the VP of Sales for Capitaliz – a fast-growing SaaS company servicing the global exit planning industry.

Some of Scott’s past experiences include:

  • Purchased and scaled Revelstoke Property Services 10x with Eve Duke, and sold to a private equity firm in 2018
  • Founded StokeFM radio station in 2011
  • Served on Revelstoke City Council for 4 years

Outside of work, Scott enjoys a good surf trip down south and fresh power days in the alpine in Revelstoke, BC.

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS
Exiting from a Professional Services Business with David Shealy, CPA, CGMA (Ep. 21)

Exiting from a Professional Services Business with David Shealy, CPA, CGMA (Ep. 21)

By |

When you think about exiting a business, you are planning for more than passing on a title and money. You need to consider the physical assets and your own personal goals as well.

In this episode, Mark Dorman is joined by David Shealy, managing principal of HW&Co., Mansfield OH, in discussing the challenges and importance of succession planning in the agribusiness industry, as well as the unique farming communities in small towns. They explore the importance of thinking like a buyer and finding the right fit when preparing for a business transition. 

David discusses: 

  • His journey through the business world before he started considering an exit strategy
  • Why he started his exit plan and with whom
  • How family businesses are the same and different from other companies, especially in the agricultural sector
  • The importance of considering a business sale from the buyer’s perspective
  • And more

Resources:

Connect with Mark Dorman: 

Connect with David Shealy:

About Our Guest: 

Dave Shealy is the managing principal of HW&Co.’s Mansfield office. His former firm, The Shealy Group, merged with HW&Co. in November 2021.

Throughout his career, Dave has evolved into a trusted consultant and advisor for his clients, integrating himself as a member of their teams to find solutions and help them reach their goals. He has had the opportunity to work with very successful entrepreneurs and their advisors, for which his focus has been on strategic planning, identifying and resolving operational inefficiencies, revenue cycle enhancement, and establishing a strong link between a company and its finances. His belief is that the better he knows and understands clients and their business, the better he can assist them with their needs.

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS
A Journey of Acquiring, Growing, and Exiting a Business with Craig Kohrs, Founding Partner of Velocity Capital Partners (Ep. 20)

A Journey of Acquiring, Growing, and Exiting a Business with Craig Kohrs, Founding Partner of Velocity Capital Partners (Ep. 20)

By |

Business owners are experts at running businesses. They aren’t experts at selling them and they most definitely aren’t experts at sourcing people who would want to buy the business.

In this episode, Mark Dorman interviews Craig Kohrs, one of the founding partners of Velocity Capital Partners. Craig shares his experience of selling his previous business, and how he and his business partner Ryan Mifsud are now involved in a mission-driven venture called “We are the Ripple”. He shares the importance of having a great team, trusting them to run the business, and giving them the tools to be successful. He also gives some advice for business owners who are looking to exit or grow their businesses.

Craig dives into: 

  • How he started his own family business
  • The story behind how his team acquired and built TMG Performance Products
  • How he ran his business before planning his exit
  • Why you should hire exit planning experts to help make your exit successful
  • The goal of “We are the Ripple” to provide funding and create clean water access for schools and communities in Africa
  • And more

Resources:

Connect with Craig Kohrs:

Connect with Mark Dorman: 

About our Guest: 

Craig is a Founding Partner of Velocity Capital Partners. In his most recent role as Co-President of The Mifsud Group, Craig was focused on the execution of its long-term growth plan through the identification of potential acquisitions, both as new businesses and add-on opportunities for our existing portfolio, as well as supporting the leadership of our current holdings to execute on their strategic plans. Craig was also Chief Executive Officer of TMG Performance Products, charged with the successful growth and daily operation of the business, leading his management team in the development and execution of the consumer and eCommerce business strategies, as well as identifying acquisitions of brands and product lines to support that growth strategy. Prior to his role with TMG Performance Products, Craig worked at The Mifsud Group as Vice President of Business Development, driving the acquisition of CORSA Performance, now TMG Performance Products. Before joining The Mifsud Group, Craig led the North American Cookware product line for Calphalon Cookware, a premium consumer brand, part of Newell Brands.

His professional memberships have included the Specialty Equipment Manufacturers Association; Housewares Association; Association for Corporate Growth and WIRE-Net (now Manufacturing Works). Craig is a graduate of The University of Dayton with a bachelor’s degree in Business Administration and he earned his Masters of Business Administration with a concentration in Marketing from the University of Wisconsin – Whitewater in 2004.

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS

Archives

Categories