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
70 - A Wild Mountain Exit
Poised for Exit produced a special edition show and invited Randy Krivo of Sunbelt Business Advisors to be a guest interviewer and feature a client of his who successfully sold her business during COVID!
Amy Frischmann and her brother Dan, took over the Wild Mountain Ski Resort from their parents in 1995, who bought the business in 1972. Amy and Dan sold the business to an owner operator in March of 2020, but due to the onset of the pandemic, the closing was cancelled. After some creative structuring facilitated by Randy, the buyer, seller, and lender worked together to get the deal done, and it closed in June of 2020.
Randy worked closely with Amy and Dan to help them achieve their best possible exit. The magic for Amy was that the buyers were the right fit. Legacy was very important to her and her family. They knew they didn’t want to sell to a large corporation, but rather to a buyer who had a personal interest and experience in the ski industry; they did just that.
Amy was asked what it was about the selling process that surprised her, and she shared three things:
1. Selling is an emotional experience
2. Meeting with prospective buyers was at times like an interrogation (!)
3. Selling your business is a full time job on top of a full time job
She said that without Randy’s help, it never would have come together.
Now, Amy is working full time in her other family-owned business (that goes back to 1906!) called Taylor’s Falls Scenic and Boat Tours, and Taylors Falls Canoe and Kayak.
You can check out what Amy’s up to here.
Find Randy here and find Julie here.
Thank you to this month's sponsors! Sunbelt Business Advisors and JAK CPA's.
Connect with Julie Keyes, Keyestrategies LLC
Founder, Consultant, Author, Pod-caster and Instructor