Program produced by XPX Atlanta.

how to xpx: help, my ebitda sucks!

What do you mean my EBITDA sucks – and what does that have to do with my business value? Episode #3 on our business owner's journey towards a successful exit. Experience our "owner's" dose of reality on how his company's financials are the cornerstone for measuring transferrable business value to a potential buyer -- and how executing on a focused project plan can address key value detractors in advance to improve the odds for a successful sale.

Our MC:

Barry Selvidge, Partner - Newport LLC

With over 30 years of experience as a founder, operator and chief legal officer for public and private companies, Barry provides wise and trusted counsel to his business owner clients. A veteran business and legal advisor who has walked in his clients’ shoes, Barry’s unique combination of entrepreneurial, corporate and M&A experience helps early stage and middle market companies accelerate growth and prepare for exit.

Our Panel:

Bill McDermott, Founder & CEO - The Profitability Coach

Bill is a Profitability Coach with a passion for helping make business owners better financial managers. He’s coached hundreds of business owners on how to break through barriers to growth, increase profitability and cash flow and be financially prepared to exit their business on their terms. Bill leverages his knowledge and relationships from 32 years as a banker to identify the hurdles getting in the way and create a plan to deliver profitability for business owners.

Terri Teague, Owner - SmallBiz.Consulting

As a prior owner of multiple businesses, Terri has first-hand experience with the multitude of challenges faced by owners in growing their companies. She applies her real-world knowhow gained over 20 years of business ownership to help company owners effectively navigate the small business landscape. Terri provides insightful solutions and creative strategies that propel businesses toward their growth goals, while also preparing owners for the time when they will be ready to successfully sell their own companies.

Missed any episodes of our 2021 Case Study? Catch up here: https://exitplanningexchange.com/atlanta/news

Program produced by XPX Philadelphia.

behind the numbers:

Quality of earnings in a transaction

Quality of Earnings Reports are becoming a key activity during the due diligence process. In this session we will take a deeper look at what a Q of E report is and why it is important.

Our Speaker:

Richard Izzi, Partner, Marcum

Richard Izzi is a partner in the New York Advisory Group of Marcum, where he leads transaction services for the tri-state (NY/NJ/CT) area. He specializes in transaction advisory services to buy- and sell-side clients including private equity funds, strategic investors and lenders.

Mr. Izzi’s experience includes quality of earnings analysis, profitability analysis, financial projections, cash flow modeling, and purchase agreement consultation. He is also experienced in dispute resolution and litigation matters.

Program produced by XPX Long Island. 

Long Island Case Study Part 4:
Operations- Scalable Business Models that Maximize Profits

The owners of HiTech, our case study company, are looking for ways to create additional value in their business in pursuit of a profitable exit. Transforming their operations will be a key driver of their ability to grow revenue, increase margins, and create a more sustainable company. By using operations as a driver of growth rather than a cost center, HiTech can make both their current business and their future roadmap more appealing to strategic and private equity buyers.

We will discuss how to transform HiTech's operations from a successful small business to a scalable, sustainable, and more profitable company. We will look at how to evaluate the maturity of their operations and systems, identify priorities for investment, and look at how to improve their management structure so they can successfully execute these changes. In doing so, we will see how operations can support (or hinder) other areas of focus including strategic planning and sales, and how embracing a digital mindset will allow them to both improve execution and portray HiTech as a forward-looking company with a clear niche in the modern economy.

CLICK HERE TO DOWNLOAD THE CASE STUDY FOR THE MEETING.

Moderator:

Jeff Stern, Principal - Eagle Business Solution

Jeff Stern is a CPA, a Master Black Belt, and an Eagle Scout. His career spanned 30 years in Corporate America with Banks like JP Morgan Chase (nee Chemical Bank, nee Manufacturers Hanover Trust), Coopers & Lybrand, and Deloite. He has led teams from 2 to 300 in operations, product development and strategy and for the past 12 years he has been providing practical advice to business leaders and companies, in all industry segments. EBS is committed to help clients emphasize their strengths, understand their shortfalls, and to work closely with them to improve and excel.

Our Speakers:

Steve Ronan, Principal - Citrin Cooperman

Steve Ronan is a principal and the leader of Citrin Cooperman’s Strategy & Business Transformation Practice. He is an experienced professional in the theory and execution of improving business value.

Steve has partnered with a range of companies, from the Fortune 100 to the middle-market, to develop and implement strategies that improve profitability, create scalable businesses, and strengthen customer relationships. His projects have created over $100M in value through top-line growth and bottom-line cost savings.

Steve brings a practical, holistic perspective to the topic of business improvement. His experience is extensive and includes strategic planning, process improvement, and organizational transformation.

Jeff Bass, CEO- Executive Strategies Group, LLC

Mr. Bass is CEO of Executive Strategies Group LLC, a strategic business advisory Firm serving corporate executive management and boards of directors. He also served a Nassau County Planning Commissioner and was formerly Trustee of the Incorporated Village of Great Neck, New York where he also served on the Planning Board and Board of Zoning Appeals. He is also a member of the Hamlet on Olde Oyster Bay Homeowner Association Board of Directors.

Thomas Lohr, EVP- Techworks Consulting Inc. 

Thomas Lohr is the Executive Vice President at Techworks Consulting, Inc., an IT Consulting firm whose headquarters is located in Ronkonkoma, NY and specializes in business consulting services to provide solutions for small, mid-size, and enterprise organizations throughout the local Long Island / New York region and a global reach. Tom oversees the leadership team and harmoniously bridges gaps between all major operating functions of the business. He is an active member of Varnex which is an elite network of IT Professional Solution Providers formulated of trusted IT advisors across the US and Canada. He holds a Bachelor Of Science in Computer Information Systems with a minor in Business and has continued education in Leadership and industry certifications including ITIL Foundation, ITIL Practitioner, Certified HIPAA Security Professional, along with multiple Microsoft and CompTIA certifications over his career.

Program produced by XPX DC Metro.

owner readiness vs. business Readiness

Do you know what it means to “get ready” as an owner? And how is getting your business ready for exit different from getting yourself ready? Julie will help you understand the distinctions between these two types of “readiness” and explain why both are critical to a successful business exit strategy. You’ll also hear about market readiness and how it may not align with yours or your business’ readiness. You’ll learn about getting your own personal and financial house in order and creating a great Life-After-Business Plan. Maintaining a productive, fulfilling life is at the top of most sellers’ lists but many don’t have a plan for how they’ll achieve it. Julie will explain how you can avoid “failing” an exit, and how to assess how well your company has prepared you for retirement.

Our Speaker:

Julie Keyes,  Founder - Keyes Strategies

Julie Keyes is the Founder of Keyes Strategies in Minneapolis, MN. specializing in Growth Strategy and Exit Planning for business owners with revenues of $5-30M. As a Certified Exit Planning Advisor (CEPA) with more than 28 years experience in business planning, development and management, she is committed to every client’s successful exit. She is an EPI faculty member and author who speaks to both business owners and advisors on the topics of Exit and Transition Planning

She has written a book called "Poised for Exit" and produces a Podcast show of the same name that compliment each other in providing solutions and best practices for privately held companies who need to plan for and implement a future business exit.

Program produced by XPX San Antonio.

Start up and growth cycle:

top 10 most expensive mistakes in forming and operating a business

Our Speakers:

Steven Bankler, CPA, PFS, Cr.FA, CFF, CGMA - President, Steven Bankler, CPA, Ltd.

Steven Bankler started his practice over 43 years ago. His unique firm has only CPAs working on client’s book and records. The firm provides consulting, exit and tax planning for closely held/family owned businesses. They also provide litigation support is a variety of areas of business litigation. They have over 30 years in assisting buyers and sellers in the implementation of their exit plans.

James D. Rosenblatt – President - Rosenblatt Law Firm

James Rosenblatt has practiced law for over twenty-six years since obtaining his JD from Emory School of Law. Prior to opening his own firm, James gained valuable experience working at the regional law firm of Davidson & Troilo, the international law firm of Akin Gump and as in-house counsel for an international construction company. Additionally, while working at Akin Gump, James further honed his business acumen by obtaining an MBA from the University of the Incarnate Word. James has been recognized as one of the best attorneys in both San Antonio and nationally. Beyond sitting on various charitable boards, he is also a founding member of XPX.

Program produced by XPX South Florida.

Is Now the time to sell? Is the Market Strong?

This panel discussion will feature experts that can discuss the state of the market, valuations, what buyers are looking for, and what sellers should consider before they sell.

The time between 5:30pm and 6:00pm will be used for breakout sessions allowing attendees to continue the dialog in a small group setting.

Our Panel:

Ethan S. Grossman, CFA®
Merrill Lynch Wealth Management (Moderator)

Ethan Grossman began in wealth management in 2010 after 5 years in Corporate Banking so that he could help clients avoid some of the mistakes he saw in his own family. He finds meaning in guiding clients on all aspects of their financial life from investing to family dynamics and guiding clients along their path to success. As a Chartered Financial Analyst® (CFA®), Ethan’s approach to investing is grounded on industry leading research and he prides himself on being a life-long learner. Ethan co-founded Grossman Benharrouch and Associates to serve the needs of High-Net-Worth families along with Ruben Benharrouch in 2016.

Keith Dee
Osage Advisors (Investment Banker)

Keith Dee is President of Osage Advisors with more than 30 years of experience advising business owners and families of midsize companies and helping them maximize value through M&A and capital transactions. Over the course of his career, Keith was a partner of a CPA firm, founded his own accounting firm, and ran several privately held businesses, including manufacturing, business services, IT, healthcare and distribution -including being CFO at The Great American BackRub Company and President of Earmark, Inc. This unique combination of financial and operating experience enables him to understand and meet the goals and objectives of his clients.

Jeff Manning
CohnReznick Capital (Valuation)

Jeff Manning is a Managing Director in CohnReznick Capital’s Baltimore Office. He is a seasoned professional with nearly 40 years of corporate finance experience. Prior to CohnReznick Capital, Jeff was a managing director at BDO Capital Advisors, and before that, the Chief Executive Officer of the wholly-owned investment banking subsidiary of FTI Consulting. He began his career in 1981 with Manufacturers Hanover Trust in 1983. Jeff is a frequent writer and speaker at industry and university events – including Columbia, UVA Darden, Johns Hopkins, and Wharton. Jeff received his MBA from Columbia and a BA from Yale.

Kyle Jones
Farlie Turner (PEG)

Kyle Jones is a Director at Farlie Turner & Co. Prior to joining Farlie Turner in 2015, Mr. Jones served as an Associate at Trivest Partners, a private equity firm focused on investing in founder and family-owned middle market companies. Mr. Jones spent two years at Trivest screening and executing middle market transactions across a wide range of industries as well as handling portfolio company responsibilities.

Program produced by XPX New Jersey.

The Future of Real Estate in a Post-Covid World

The New Jersey chapter is excited to continue our programming year with another thoughtful and insightful meeting. Our chapter is growing and welcoming professional advisors who help business owners plan for a successful exit. As we continue to examine many of the different planning considerations and decisions an owner needs to face, our members participate in this interactive discussion. We welcome your attendance at our next meeting.

Many industries and operations have been hit hard with the challenges COVID has presented. With the surge in working-from-home by many employees, specific industries were further affected – none greater than commercial real estate. The current extension by many corporations offering remote options for their employees only intensifies the questions for real estate operators. What does the future look like? Will we ever return to full occupancies? Furthermore, with the heavy disruption to store-front operators, restaurants, and entertainment businesses, how will landlords recover from limited rent payments over the past 12 months.

At this month’s discussion we will hear insight from Ryan Severino, Chief Economist with JLL Real Estate. Ryan will share his thoughts on many of these questions and much more.

Our Speaker:

Ryan Severino
Chief Economist at JLL

Ryan Severino is the chief economist at JLL where he manages the economics team and is responsible for global and regional economic research, analysis and forecasting as well as property market forecasting.

Prior to JLL, Ryan served as senior economist and director of research at Reis in the research and economics department, the team responsible for the firm's market forecasting, valuation, and portfolio analytics services. Ryan also served as the Associate Director of Research at MetLife Real Estate Investments where he was responsible for macroeconomic and real estate market analysis, formulating portfolio strategy, and conducting deal reviews. Before joining MetLife, Ryan served as the Director of Investment Strategy and Market Research at Starwood Capital Group where he directed the entire research effort at the firm. Ryan has also held research positions at Prudential Real Estate Investors and UBS.

Additionally, Ryan currently serves as an Adjunct Professor of finance and economics at Columbia University and New York University teaching courses such as Urban Economics, Portfolio and Risk Management, Microeconomics, and Macroeconomics. He also has experience in real estate asset management, portfolio management, and acquisitions.

Ryan's original research has appeared in a number of journals such as the Wharton Real Estate Review and The Real Estate Finance Journal. His assessments of market conditions have appeared in international publications like The Economist, The Wall Street Journal, The New York Times, and The Financial Times and on business networks such as CNBC and Bloomberg. Ryan is a member of the CFA Institute, the American Economic Association, ULI, and NCREIF.

Ryan holds a master's degree from Columbia University, where he studied International Finance and Economics, a bachelor's degree from Georgetown University, where he studied Finance, Japanese, and Economics, and is a CFA Charterholder.

Program produced by XPX Philadelphia.

Let's Get Creative: Options for Financing Deals Between $5-$10M

Solutions for funding deals between $5M to $8M are few and far between. These deals exceed the $5M cap for SBA financing and often exceed the maximum amount for a non-collateralized loan. To get a deal done, an acquirer needs more cash, additional collateral or the seller has to hold a significant note. Often these deals just can’t get done! Join us for an informative discussion for creative ways to limit cash , large seller’s notes and required collateral.

Our Speaker:

Jim Vigna, Vice President - Live Oak Bank

Jim joined Live Oak Bank as a Vice President in April 2019. He has more than 20 years of experience in small business lending and has spent his entire career in the New York, New Jersey, and Pennsylvania markets. Prior to joining Live Oak, he worked for one of the largest banks in the country, was the top SBA lender by volume multiple times and broke records for highest SBA production. His area of expertise is in business acquisitions, partner buyouts, expansion, new construction, debt restructure and commercial real estate.  Jim earned a bachelors degree in Economics from Lehigh University. 

Program produced by XPX New York.

Recognizing and Responding to

Liquidity Challenges

As professionals serving the XPX business community, it is critical that you are sensitive to the telltale signs of companies in distress. During this event we will present some of the key symptoms and indicators of a company facing operational, financial, and survival challenges. We will also present various options available to restructure and position a company to deal with these various challenges. There will be question & answer dialogue during and after the presentation.

Our Speakers:

Robert Iommazzo, Managing Director - Traxi Business Solutions
Lee Pacchia, Director – Traxi Business Solutions

Robert and Lee are both members of Traxi an organization “providing clients with practical solutions to complicated problems” including credit origination, crisis management, operational advisory, corporate restructuring, and more across nearly every industry. Clients have ranged from family-owned businesses as well as Fortune 500 enterprises.

Program produced by XPX Atlanta.

Getting the Launch Codes

Join us for the next chapter of our business owner's journey towards a successful exit. The advisory team is being assembled, but where’s the "road map" for the trek ahead? Hear from experts on how an appropriately crafted baseline business review can provide the “launch codes” for an effective action plan that boosts value in the eyes of a potential buyer -- and provides a cornerstone for the entire exit planning process.

Missed any episodes of our 2021 Case Study? Catch up here: https://exitplanningexchange.com/atlanta/news

Meet Our Speakers:

David Magee, ASA, CFA

Principal
DM Buck Advisory

David Magee is the founder of DM Buck Advisory, LLC which helps business owners in transition. He partners with NAVIX Consultants in his Exit Planning Practice and also provides business appraisal and general finance consulting services.

Previously, David spent 30 years at SunTrust Robinson Humphrey in Atlanta. As a Managing Director/Senior Equity Analyst, David conducted extensive market due diligence to generate detailed financial models and research reports on numerous companies. David earned his Bachelor of Arts degree at Wake Forest University (Economics), an MBA degree at Georgia State University, as well as the Chartered Financial Analyst (CFA) and Accredited Senior Appraiser (ASA) certifications.

David Hern, CPA/ABV, ASA, CEPA

Founder & CEO
Sofer Advisors, LLC

David is the founder and chief executive officer of Sofer Advisors, LLC focusing on business advisory services related to litigation assistance, estate and tax planning, and business enterprise valuations for privately-held and public companies. He is a qualified financial analyst with a proven ability to simply and clearly communicate analysis to boards of directors, presidents and CEOs, CFOs, controllers and private equity portfolio managers. David has been recognized for enabling organizations to determine their enterprise and equity value for strategic planning, a sale or IPO, mergers and acquisitions, financial reporting and tax compliance. David’s industry experience includes professional services, business service, healthcare, information technology, financial services, and manufacturing & distribution.