Using a Board of Directors for a Better Exit Artwork

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.

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Poised for Exit

Using a Board of Directors for a Better Exit

October 09, 2024 • Julie Keyes • Season 1 • Episode 214

We had the honor of hosting John Francis on the show today, who is a long time entrepreneur, advisor and Board member. John grew up with a family business that started a franchise operation in the salon business and then launched another brand in the same industry. They grew it so well that it eventually went public. John attributes that outcome due to the expertise and dedication of their company's Board of Directors. The sale of the business occurred with multiple offers and wound up selling for 18X EBITDA! Again, he said the Board made all the difference.

John now advises owners of lower middle market companies on growth strategy through his membership on Boards as well as helping owners assemble their own Boards. He says that if a company isn't ready for a Board, or it's too small to justify the expense, then an Advisory Board is the next best thing. Starting with Advisory Boards is sometimes the best way to get acclimated to outside advice, he says. And, having one requires only upside. There's really no risk or downside to having an Advisory Board, because if it's not working out. the owner can disband it.

John shares some interesting real life stories on the show and more valuable advice for our listeners. Find the interview here.

Contact John for a free consultation

Connect with Julie Keyes, Keyestrategies LLC
Founder, Consultant, Author, Pod-caster and Instructor