The Smart and Savvy Exit - Interview with Rebecca Graf & Ellen McIlhenny

Ellen McIlhenny - “The Smart and Savvy Exit – Interview with Rebecca Graf”

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INTRODUCTION
I think I mentioned last week that 2021 had to be better.  Sorry if I jinxed it. Looking back at the events of the last week; it’s just surreal. Just one year ago no one could have predicted a pandemic that shut down the greatest economy in the world. Then to add insult to injury, it happened during the year of a presidential election which brought on challenges no one was prepared for. And then the events last week capped of the most contentious political season I have ever seen. What is sad is this divisive climate in the United States appears to be here to stay.
 
Those of us who own small businesses know that there is much uncertainty about the future business environment.  I believe we need to prepare ourselves for continued challenges, at least in the next few months.
 
Last year, to survive, many of us had to make big changes in the way we conducted our business. There were many changes that I made that have made me more efficient so I will never go completely back to the old normal. One thing that was critical to the survival of my business was a community of like-minded small business owners that I was able to lean on.  We all faced many of the same problems and it was having them to bounce ideas off was priceless. And I give credit to these friends for my survival.
 
Going forward, it will continue to be critical to have communities to help us through these difficult times. The IBGR Community of Commerce is a perfect place for any small business owner. We must continue to support each other.  The big guys are at a great advantage right now. Let’s band together in the Community of Commerce because together we are much stronger.


Show Objectives - The Why
In this show we will discuss with Rebecca Graf, owner of Forest Mulchers, the challenges involved when selling a family business. 

Key Issues - Owner Perspective:

1. Succession Planning.
2. When is the appropriate time?
3. How should it be structured?
4. What is next for the family?

What You Need to Know - The What
Reasons to Sell

1. Is the business causing dissension in the family?
2. Are current conditions unable to support a viable business? 
3. Loss of passion for the business.

Shows 

• Previous: Podcast Episodes 45 - 48 – Smart and Savvy Exit - Season 3 Recap  - An overview of the 4th Quarter 2020 episodes of my new format targeted toward preparing for the exit.

Find My Podcast at https://pod.co/future-financial-confidence-with-ellen-mcilhenny

Next Week: Episode 3 of Season 4 -  Building Value for Exit – Part 1. – Succession Planning and building a management team.

Resources:
Written by Ellen McIlhenny 
Owner of CFO Plus Services, a Fractional CFO services firm which also offers Back Office Bookkeeping Services.  Author of the business novel The Big Turnaround; How Bad Management Nearly Destroyed an Exceptional Company.


You can connect with Ellen on any of her #cfoplusservices platforms or ellen@cfoplusservices.com
https://cfoplusservices.com
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