The Smart and Savvy Exit - Season Four Overview- Ellen McIlhenny

Ellen McIlhenny - “The Smart and Savvy Exit – Season Four Overview”

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INTRODUCTION
Happy New Year to everyone. We survived 2020 and have great hope for 2021 as evidenced by the following article.
 
From Cision – PR Wire – “A new sentiment survey of small and medium-sized business owners describes their outlook for 2021 as optimistic despite the significant impact of COVID-19 on business performance throughout 2020. The report authored by GGV Capital and Hello Alice, also suggests that business owners expect an uptick in hiring, technology purchases, and overall growth.
 
There are 30 million SMBs in the U.S., employing 60 percent of Americans and representing 40 percent of U.S. GDP. According to the data, 64 percent of 4,100 SMB owners surveyed said their business performance was worse in 2020 than in 2019, and 45 percent were forced to lay off employees. Also, businesses owned by women, people of color, and U.S. veterans have been impacted disproportionately by the pandemic and other challenges of 2020.
 
In contrast, the sentiment for 2021 reflects the resilience of small business owners to find new ways to reach customers, leverage technology to accelerate growth, and adapt operations to survive and thrive, resulting in significant optimism for next year. 
 

• 83% believe their business will perform better in 2021 than in 2020 (4,106 owners).
• 93% plan to hire in 2021 compared to 45% that laid-off employees in 2020 (4,111 owners).
• 75% intend to spend more on technology in 2021 than in 2020 (784 owners).
• 75% called on the government for assistance in the form of emergency grants, long-term grants, and rent relief (97,341 owners) even though only 52% (of 4,134 owners surveyed) applied for loans from the Paycheck Protection Program due to the program's lack of access and focus on SMBs.”

​Showing great resiliency and optimism after a year of getting absolutely hammered in 2020. That’s why small business owners are my heroes. This pandemic left our community weaker and greatly benefited the big guys, yet it will be our resurgence that will save our economy.


Show Objectives - The Why
This Show will give you an overview of the season ahead.  This season will consist of both live interviews and tips on building value. 

Key Issues - Owner Perspective:
Building value and preparing for an exit will be a major focus for season four.


What You Need to Know - The What
There will be several interviews with experts in different areas

1. Selling the family business – Rebecca Graf – Forest Mulchers
2. The serial entrepreneur – Jill Tuchman – Trifecta
3. Another Exit Team Member – The importance of having a Wealth Advisor
4. The Importance of a Business Coach
5. The Importance of a Marketing Advisor
6. Another Exit Team Member – The importance of having a CPA

What You Need to Do - The How
We will talk about techniques to build value for exit

1. Succession Planning and Building a Valuable Management Team
2. Clarifying Vision and Core Values
3. Techniques to Retain Valuable Employees
4. Cash is King (or Queen depending who you are talking to) – Financial Statements
5. Common Mistakes that Can Affect Value

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://studio.podcast.co/ibgr/future-financial-confidence-with-ellen-mcilhenny/episodes

• Next Week: Episode 2 of Season 4 -  Selling the Family Business – An interview with Rebecca Graf. – Selling a business is difficult enough. Adding family members to the mix makes it even more interesting.

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
Connect on LinkedIn
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