Poised for Exit
Welcome to the Poised for Exit podcast! Poised for Exit is an under 30-minute strategic planning guidance podcast for busy small business owners. Each week you’ll hear certified exit planning advisor, Julie Keyes, talk with a range of entrepreneurs and professionals about preparing your business for a future transition. Guests at every stage of company ownership will share their personal stories and lessons learned about topics such as the anatomy of the exit planning process, developing a growth strategy, how to sell on your terms, exit planning for women small business owners, handling business diversity, and how to sell a family business. Whether you’re planning an exit in the near future or not, this show will provide you with the same action-oriented content that Julie utilizes while consulting with Keyestrategies clients. Building an exit strategy can be overwhelming, especially with all the decisions and details you have to consider. “Poised for Exit” will simplify the process and help you unwrap the unknowns, giving you more confidence in your planning process. Previous episodes are available for download, so if you are new to our show, you can listen to them in any order that suits you. Join us each week for timely, relevant content that will surely impact your business exit outcome! Subscribe to our newsletter below to receive your weekly episode link and stay updated on new strategic planning content. Find “Poised for Exit” on Spotify, Apple Podcasts, Google Play, iHeart Radio, Amazon Music, and others. Thank you to our Sponsors: Sunbelt Business Advisers and JAK CPA's. A special note of thanks to Tyler Keyes who produced the music for the “Poised for Exit” show.
Poised for Exit
Misbeliefs about Private Equity Partnership: Success Stories Revealed!
Misbeliefs about Private Equity Partnership: Success Stories Revealed!
We had the pleasure of hosting Shane Slominski on today's episode, who is a partner with Tonka Bay Private Equity Partners in the Twin Cities. Shane has been in the PE space with Tonka Bay for 18 years, and prior to that was a practicing CPA in the M&A space with Arthur Anderson and Deloitte. During those years, he worked often with PE owned companies and learned a lot about how Private Equity worked, prompting him to seek a role in a firm to get more involved, which is when he found Tonka Bay.
Shane says that the world of Private Equity is really growing, and that each one has their own unique set of criteria around ideal acquisition targets. For Tonka Bay,. they're looking for companies with owners who are partners or founders seeking a way to scale the company and take some chips off the table. Shane says that the values and desires for the future of the business are an important aspect of finding a good match for his firm. It was a refreshing thing to hear, since so many owners would deem PE to be a last resort, due to all the bad press its received over the years. But, as Shane said, things have changed and owners have many options in this space, especially if they have well run, profitable companies with growth potential.
Some things he recommends that sellers do now to drive the attractiveness of their business are to first, decentralize themselves from their companies. He said that is a big issue for PE (as with any buyer).
If you are an owner and looking for a partner to take your business to the next level, consider chatting with Tonka Bay Equity Partners! Find them here and Shane here.
Shane shared some impressive client success stories, so be sure to listen to the episode here
Connect with Julie Keyes, Keyestrategies LLC
Founder, Consultant, Author, Pod-caster and Instructor