Prepare for an Exit Even If You Don’t – A Podcast Discussing Business Exit and Succession Plans with Guest Michael Schuster
Fort Myers, FL – October 25, 2022 – Unfair Advantage, a podcast series exploring business strategies, insights, and methodologies, recently featured Michael Schuster, the managing director of Cross Keys Capital. The episode “Prepare for an Exit Even If You Don’t,” hosted by Mona Hilton, CEO of Advantage Anywhere, highlights the need for businesses to keep an exit strategy in mind for when the time is right.
Schuster provides valuable insight and tips on selling a business, succession, and business growth. Podcast listeners receive expert advice on the necessity of having a well-structured systemized business with intentional processes. Topics include why planning an exit is needed, where to begin, business worth, successful transactions, financial partners, and more.
“When you talk with the most successful businesspeople who have been through various business cycles or run more than one business, every one of them will tell you that you need certain metrics, dashboards, and information about your business,” explains Schuster. “You’re running in a way that helps that business be more successful than another one that doesn’t. When you run a business that way, there’s a good chance that you’ll be ready and prepared for a sale and exit or even bring in a financial partner at some point to help you grow that business.”
Schuster guides podcast listeners on what to have in place to optimize business value and give the best return on investment. “You worked hard to plan, start, build, and grow your business,” he says. “Put the same resources and energy into planning your exit and what’s going to happen to your business in the future as you did when you started it and how much time and energy you put into growing it. Don’t forget about the liquidity event at the end that could be yours if you build your business and plan for it ahead of time.”
Schuster discusses the importance of business growth. “We’ve been in an era in the last six to seven years with a tremendous run-up in the economy. If you’re not focused on growing your business, there’s a good chance you will not participate in one of those great mergers or acquisitions,” he says. “What you need to do is think about how you’re going to grow your business. Surround yourself with a team or a sales team or whatever it is that it requires for you to be able to grow the business and focus on that because that’s going to be more attractive down the road if there’s a nice growth curve going on.”
Business owners are strongly advised to know what their strategy will be. Schuster says, “Most business owners, founders, and families have some type of succession or exit at some point in the business’s life cycle. Planning for that, in the beginning, is crucial to a successful exit or succession.”
Understanding the value of a business throughout the business life cycle and its drivers is vital. Schuster points out, “When we talk about dashboards being organized, being ready for sale at all times, one of the things you’ll come to learn is that you know what the ongoing value of your business is at every point of the way through your business.”
Those business owners who need to form a successful exit, succession, or growth plan, will find this podcast discussion informative and thought-provoking.
About Cross Keys Capital
Cross Keys Capital is a leading middle-market investment bank focused on delivering maximum value for its clients. Based in Fort Lauderdale, Florida, with 25 professionals, Cross Keys provides its clients with a full suite of investment banking advisory services, including sell-side and buy-side M&A and restructurings. Cross Keys has a national presence and executed over 200 transactions in recent years. The firm has expertise across various industries, including business, environmental, financial, insurance, healthcare, industrial, logistics, manufacturing, telecommunications, media and technology, and value-added distribution.
About Unfair Advantage
Unfair Advantage Podcasts explore insights and methodologies to give businesses an unfair advantage. The podcast series examines how small and mid-size companies approach key challenges and opportunities in emerging technology, digital marketing, and business processes and practices. Each episode is hosted by Mona Hilton, who industry experts and thought leaders join to discuss topics shaped to help business growth.
About Advantage Anywhere
For over 25 years, Advantage Anywhere has been a leading technology innovator delivering simple and ingenious sales and marketing solutions for small and mid-size businesses. Product development focuses on creating rich, interactive experiences that streamline business processes and increase efficiency, productivity, and revenue growth. The company is dedicated to upholding corporate values of passion, integrity, innovation, and excellence.
Contact:
Cross Keys Capital Contact:
Cross Keys Capital, LLC
Michael Schuster, Managing Director
linkedin.com/in/michael-b-schuster
Video Link: https://www.youtube.com/embed/ZLdSBz4WT5Q
Media Contact
Company Name: Advantage Anywhere
Contact Person: Mona Hilton
Email: Send Email
City: Fort Myers
State: FL
Country: United States
Website: www.advantageanywhere.com
