I have yet to meet a business owner who’s not dreamed–with a twinkle in the eye–about the prospect of cashing out and collecting a BIG paycheck.
But when you really look at most businesses, the firms just aren’t built to sell.
Whether you’re seriously looking at an exit, or you’re decades away, today is the day to design the business in a way that will be attractive to a buyer.
There are two important reasons to do this…
First, it will force you to build something that can run without you–freeing you to enjoy life and to really focus on growing the business.
Second, it’ll give you OPTIONS…and options are cool. You’ll have the option to exit, or not…to stay inside the business or step back to the role of “investor”…to sell internally to someone on your team or to an external buyer…
In this episode, I interview Rick Hadrava of Epic Advisory Group to discover how to engineer your business to make a “wealth creation event” possible…
Listen and you’ll discover…
- Why most businesses die with the founder (and how you can avoid that fate).
- How to extract yourself as the owner of the business, and enjoy the benefits and freedom now, long before you exit the business.
- The key to letting go and delegating responsibility to your team–this is the #1 roadblock to building a business that has value without you.
- How to step-back and build a bigger vision for your business.
- Rick’s secret for staying unstoppable..
- And so much more…
Timeline
00:13 Steve introduces Rick Hadrava.
02:00 Rick starts off by telling us how his loves, including his wife, math and puzzles led him to Dallas.
03:34 Rick sites overcoming his inward corporate thinking to looking outwards in creating value for his clients was one of the the biggest hurdles he had to overcome, that and quitting his well paid job!
08:49 Rick explains to us how his time working in corporate structures made him more resourceful and not depend on costly sources for help.
11:22 Rick tells us how living through certain life experiences (death) with a client re-evaluates everything for him and how a simple thank you means more to him than money.
12:15 Steve says that “money is just a yardstick”.
15:23 Rick talks about a particularly challenging case and how he mapped out their exit strategy for them using his program.
20:51 Steve sites two stories of how an explan went well and how one was a disaster.
22:33 Rick goes into detail on how he helps business owners build a legacy for, not just themselves, but for their employees and everyone connected with the business.
27:20 Rick talks about the effect his work has had on a client’s business, the art of delegation and how stepping back from the business can give you fresh ideas.
31:42 Ricks answers the now infamous question of what books he is now reading.
Mentioned in the show
- Epic Advisory Group
- Raymond James
- Value Builder Score
- Exit Planning
- The Daily Stoic
- The E-Myth & Beyond The E-Myth
- Find Rick online: http://www.epicsbiz.com/ and http://www.epicwmg.com/
