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Jan. 16, 2025

Ep202 Bob Tankesley - Building Your Exit Team: How to Get Top Dollar When Selling Your Business

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Get Unstuck & On Target

Selling your business without proper preparation is like showing up to the Super Bowl with half a team and no playbook. In this eye-opening episode, M&A advisor Bob Tankesley reveals why only 4% of businesses successfully sell - and how you can position yourself in that elite group.

 

With over two decades of experience guiding business owners through successful exits, Bob shares his expertise in orchestrating sales for companies valued between 4 and 40 million dollars. As a fourth-generation entrepreneur and CPA, he brings practical wisdom about building effective exit teams and maximizing business value. Host Mike O'Neill draws out Bob's insights on why starting exit planning three to five years before selling is crucial for optimal results.

 

Key Insights to Look Out For:

• Why having individual advisors isn't enough - you need a collaborative team working together toward your exit goals

• The critical mindset shift owners must make from running their business to positioning it for sale

• How optimizing your business creates value whether you sell externally or transition internally

 

This episode is essential listening for any business owner who wants to maximize their company's value and create options for their future. The strategies shared will help you build a stronger, more valuable business - even if selling isn't in your immediate plans. Subscribe now to ensure you don't miss future episodes packed with actionable insights from successful business leaders.

 

Find all the show notes and links here: https://www.unstuck.show/202

Transcript

00:00:00:00 - 00:00:04:22
Bob Tankesley
Start thinking like a buyer today. Start objectively looking at your business

 

00:00:04:22 - 00:00:06:03
Bob Tankesley
through a buyer's eyes.

 

00:00:06:03 - 00:00:08:00
Bob Tankesley
know. Do your research. Who's buying who

 

00:00:08:00 - 00:00:10:14
Bob Tankesley
Why are different types of buyers buying companies

 

00:00:10:14 - 00:00:11:20
Bob Tankesley
within your industry?

 

00:00:11:20 - 00:00:15:14
Bob Tankesley
do this years in advance of trying to put your own company up for sale,

 

00:00:18:03 - 00:00:27:24
Mike O'Neill
welcome to Get Unstuck and On Target, the weekly podcast that offers senior leaders insights and strategies to not only lead with competence and vision,

 

00:00:28:03 - 00:00:30:24
Mike O'Neill
but also to achieve groundbreaking results.

 

00:00:31:10 - 00:00:41:10
Mike O'Neill
I'm your host, Mick O'Neill. I coach top level executives on the power of ethical leadership to forge teams to be as united as they are effective

 

00:00:42:09 - 00:00:43:11
Mike O'Neill
in each episode.

 

00:00:43:16 - 00:00:53:18
Mike O'Neill
Join me for insightful conversations with leaders just like you, providing practical advice to help you get unstuck and propel you and your company forward.

 

00:00:54:16 - 00:00:55:17
Mike O'Neill
Let's get started.

 

00:01:00:11 - 00:01:28:06
Mike O'Neill
Welcome to Get Unstuck and On Target today. I'm excited to have Bob Tankesley join me, Bob, this season M&A advisor and the author of Exit Teams. He helps business owners navigate the tricky process of selling their companies, making sure that they maximize value while setting up the right teams to ensure a smooth transition. If you're a business owner or you work closely with them, this episode is going to hit home.

 

00:01:28:08 - 00:01:49:19
Mike O'Neill
Selling a business is one of the biggest decisions a leader can face, and it could take more than just a great balance sheet to get it right. As an executive coach, I've worked with leaders during these pivotal moments and I've seen how the ability to empower others plan ahead and stay clear on your vision can make or break the outcome.

 

00:01:49:21 - 00:02:06:20
Mike O'Neill
What's going to share his unique insights on what it takes to really prepare your business for success? For sale. How to build the right internal and external teams and why? Thinking like a buyer. Years before you're ready to sell can make all the difference. Let's get started.

 

00:02:06:20 - 00:02:08:08
Mike O'Neill
Joining me today is

 

00:02:08:08 - 00:02:09:06
Mike O'Neill
Bob Tankesley

 

00:02:09:07 - 00:02:44:08
Mike O'Neill
a seasoned M&A advisor specializing in guiding business owners through the intricate process of selling companies valued between 4 and 40 million. Bob's expertise includes sales sub representations, business valuation estimates and exit planning. As a fourth generation entrepreneur and CPA, he brings a wealth of knowledge to his work. He's also the author of a newly released book, Exit Teams, which shares actionable strategies for building and leading effective teams during ownership transitions.

 

00:02:44:10 - 00:02:46:01
Mike O'Neill
Welcome, Bob.

 

00:02:46:03 - 00:02:52:18
Bob Tankesley
Mike. Great. Thanks for having me. I hope we can educate your listeners on this very important topic.

 

00:02:52:20 - 00:03:12:16
Mike O'Neill
Well, I'm confident we can. The there are multiple reasons why I want an invite you on the podcast. One, we've gotten to know each other personally. But two, you just have a wealth of knowledge and the ability to explain complex things in a way that I am able to follow. And hopefully our listeners will be able to do just the same.

 

00:03:12:18 - 00:03:40:18
Mike O'Neill
You know, I hear this term batted about, directed at business owners. Are you film your business. What's your exit strategy? And as a result, I don't know what goes through people's minds. But you made a comment right before we hit the record button that struck me. And that is every business owner has an exit strategy even though they don't know it or not.

 

00:03:40:21 - 00:03:44:13
Mike O'Neill
Ten A little more about what you meant by that. What you said at a moment ago.

 

00:03:44:15 - 00:04:10:07
Bob Tankesley
Yeah, it's pretty amazing, isn't it? There's a 100% likelihood every business owner is going to exit their their company at some point. The statistics are there. We can't ignore it. Either that's going to be an orderly exit or a disorderly exit. Either it's going to be a winding down, of the business. Transition it to people internally via a succession plan.

 

00:04:10:09 - 00:04:17:05
Bob Tankesley
Or as is the case with just 4% of companies, a sale to an outside buyer.

 

00:04:17:07 - 00:04:35:15
Mike O'Neill
You know, that 4% statistic just floored me when I heard you say that to me in a side conversation. It just bore only 4% of sales go through, if that's the right term. On that. Why is it so low?

 

00:04:35:17 - 00:04:59:17
Bob Tankesley
So, every year there's surveys done and about 20% of small businesses are ever taken to market, meaning, somebody saw enough in the company to try to make it available to other other owners, other future owners via a marketplace of some kind. So only 20% were ever taken to market. Only 20% of those Mike ever sell.

 

00:05:00:13 - 00:05:26:20
Bob Tankesley
20% of 20%. 4% is an incredibly small number. That leaves 96% of small businesses that will never find their next owner. Now granted, some of those never some of those businesses are never suited to have another owner, maybe a lifestyle type of business. There may be some things wrong with it that the buyer pool just, you know, doesn't doesn't favorably respond to.

 

00:05:26:22 - 00:05:39:06
Bob Tankesley
But these are all fixable changes, right? If, if these owners can just get unstuck and start doing things on purpose, you know, that can increase the chances of their particular company selling.

 

00:05:39:08 - 00:06:06:20
Mike O'Neill
Regular listeners know how much I've been drawn to entrepreneurship. I spent most of my career in a corporate role, and my appreciation for what it takes to be an effective entrepreneur has grown exponentially over the last 15 years or so. There's so much that people don't really understand about entrepreneurship. Let's talk about a typical if there's such a thing, client of yours.

 

00:06:06:22 - 00:06:18:08
Mike O'Neill
I understand that most of your business transactions are for businesses in the 4 to $40 million range. You're working with someone who might be the founder most likely of that business. Is that.

 

00:06:18:11 - 00:06:43:06
Bob Tankesley
That's right. Yeah. And let's face it, founders can run a business for many, many years, decades, even, they can be, they can be at the helm of of something. If it's an internal succession plan, they can help the next generation or even unrelated buyers run the business. They can even function in that role for years thereafter.

 

00:06:43:14 - 00:07:09:01
Bob Tankesley
Most of my clients don't have that internal succession plan, but they recognize that there's something of value that another potential owner would want to pay for. They also recognize that they can't sell their company themselves, though they may think they can or, you know, initially explore the idea. They get into it and they realize this is an incredibly complex business.

 

00:07:09:02 - 00:07:19:15
Bob Tankesley
It would be like a separate job for them. In addition to running their business, trying to sell their company is is quite complicated.

 

00:07:19:17 - 00:07:37:06
Mike O'Neill
What particular drew me to you in this topic is the actual title of your book that you've just released, Exit Teams. And for those who are listening, he's holed up right now. Walk us through what is it you mean by an exit team? What is an exit team?

 

00:07:37:08 - 00:08:05:07
Bob Tankesley
An exit team is, a group of advisors that surround the business owner so that the business owner can ultimately run a more optimized company. There's actually two types of exit teams. There's the internal, there's the external. Internal, as we talk about in the book, are the all the employees that report to the owner? Everyone that's on the payroll draws a W-2, right?

 

00:08:05:07 - 00:08:30:11
Bob Tankesley
They, take direction from the owner. If the owner is wise, they'll also eventually start to take direction from certain of their key employees. So this team can be built internally. But the the the main drive of the book is about the need for an external team. If an owner is going to someday become a seller of that business, they really need to have a few key people around themselves.

 

00:08:30:11 - 00:08:34:08
Bob Tankesley
I'm a little biased, so I might I might put an M&A advisor on that list.

 

00:08:34:10 - 00:08:34:15
Mike O'Neill
And.

 

00:08:34:19 - 00:09:01:15
Bob Tankesley
Such as myself. But you also need to have, a well qualified CPA who does, tax and accounting type work. A transaction attorney, not your usual, you know, real estate attorney or, you know, maybe even a contract type of attorney, but an attorney who has gone through several transactions to sell companies. Wealth advisor. You know, you probably want to have a wealth advisor on that.

 

00:09:01:17 - 00:09:15:24
Bob Tankesley
That core external deal team. These are the key people that should also be collaborating with each other, by the way, regularly as the owner approaches. Decision to sell in is that company is taken to market.

 

00:09:16:01 - 00:09:42:14
Mike O'Neill
Yeah. I ask sometimes questions, and I. I don't want to assume your answer applies to all, but if, listeners out there has a business in that range. Yeah. 4 to 40 million and they're begin thinking, I need to be listening more closely to Bob. And I'm hearing him. We have both an internal team and an external team.

 

00:09:42:16 - 00:09:52:21
Mike O'Neill
Is there a general rule of thumb, time wise? How far in advance should this owner begin thinking about forming that exit team?

 

00:09:52:23 - 00:10:16:19
Bob Tankesley
I can tell you what it's not. It's not six months. It's not 12 months. The best case scenario that I've seen over the years is somewhere between 3 and 5 years. You can affect a lot of change in 3 to 5 years. You can bring in a lot of folks around the owner fill out that, that, exit team both internally and externally.

 

00:10:17:02 - 00:10:39:06
Bob Tankesley
You can, you can impress your future owner, your future buyer, by building the right teams and doing that over a three, two year, type 3 to 5 year timeframe. 12 months isn't just going to cut it. You're not going to convince a lot of buyers that, the changes you made 12 months ago that have been taking effect for 12 months after are really going to stick, that they're very meaningful.

 

00:10:39:08 - 00:11:05:23
Bob Tankesley
So, buyers tend to start paying attention. You know, once you start making changes that have been in effect for where, at least three years. You also have to remember your future buyer is very likely going to borrow money to buy your business. And you have to convince the provider of that future capital, which is usually a bank that the changes you've made in your business are, quote unquote permanent and sustainable,

 

00:11:05:23 - 00:11:09:13
Bob Tankesley
that they're not just a, you know, a flash in the pan.

 

00:11:09:15 - 00:11:22:08
Bob Tankesley
Bankers are very conservative with their money before they lend it out. They do lots of due diligence. And so they need proof that the changes, the positive changes made in the company are long lasting.

 

00:11:22:10 - 00:11:48:01
Mike O'Neill
You know, we were talking about had a little bit of a forward mindset. Your encouragement to business owners is don't wait six months. Don't wait for a year in advance. You need to be thinking 3 to 5 years, because what needs to be in place and needs to be in place long enough for those the buyer and the financer to see that these have sticking power, right.

 

00:11:48:03 - 00:11:56:19
Mike O'Neill
In terms. So that means that you begin working with a client literally years before the transaction closes. Is that right?

 

00:11:56:21 - 00:12:19:22
Bob Tankesley
That that can't happen. That's right. The big caveat, though here is that too many owners and the statistics bear this out, right? When only 4% of companies ever sell. The statistics tell us that, owners don't give people like me 3 to 5 years. Historically. They say, Bob, I'm ready, I'm done. I'm tired. My health is turned.

 

00:12:19:23 - 00:12:59:10
Bob Tankesley
You know, in a negative way. My my spouse really wants me, you know, more of my time, I cheat. They're telling me I need to spend more time with the grandkids or at the vacation place. I would like to see that changed. I would like to be brought in on more people like me. If we're honest, we'd like to be brought in more often when there's a longer time horizon for a company to be improved, because we know when we take a company to market, we're going to be talking with buyers who are probably going to consistently, express their desire that certain things they, of certain things that they wish were

 

00:12:59:10 - 00:13:23:04
Bob Tankesley
changed in the business before they, before they became the next owner of it. So again, it's on my wish list every year that I talk with folks that are 3 to 5 years out and we can have, you know, plenty of time to optimize the company. But, too often it's I'm ready to sell today or I'm ready to sell yesterday.

 

00:13:23:06 - 00:13:47:19
Mike O'Neill
You know what? I owner has that sense of urgency. It could be health. It could be just dirt is tired, whatever it might be. Yep. I'm going to oversimplify that. Earlier in our conversation, we were talking about more of the kind of the head issues of positioning yourself. To sell your business. This strikes me as almost more of a heart matter.

 

00:13:47:19 - 00:14:22:21
Mike O'Neill
And that is, when you're under the gun as an owner, to do something, it changes the complexion. What do you find? You've mentioned a number of things that might trigger that. But when you have that, that they've come to realization that it's time. What do you find more often not helps assure a smooth transition. How do you deal with a owner who wants to sell quickly, but you need more lead time?

 

00:14:25:02 - 00:15:04:24
Bob Tankesley
Tough question. You know, about the only way I think I can answer that is for them to quickly make the transition from a seller's mindset to a buyer's mindset. And I would suggest they start doing that. They do that. Well ahead of the buyer getting into due diligence. If there are problems in the business that someone like me or others can see, you can probably be assured that the buyer is going to raise those as objections.

 

00:15:05:01 - 00:15:28:06
Bob Tankesley
There's the seller really has two choices. Either drop back and punt and say, you know, now's not the time to take this company to market. I don't like the offers that I'm hearing or I don't like, you know, the way the buyers are beating up my company. I'm ready to make these improvements. I'm ready to spend the money, hire the people and fill out my outside external team.

 

00:15:28:08 - 00:16:01:03
Bob Tankesley
I'm ready to release a little bit of control to people within my company, the people who are going to stay once the buyer buys the company. By the way, we should probably empower them. We should probably make sure that they're ready for that transition. But as a as a seller, I, I might say I, I'm ready to to do all this retooling and finally optimize my business and do all these things I've neglected over the years or the other alternative, Mike, is to just say, I'm ready to get out.

 

00:16:01:05 - 00:16:08:14
Bob Tankesley
I think the offers that I'm getting are reasonable in light of the condition that my business is in right now.

 

00:16:10:01 - 00:16:18:05
Bob Tankesley
Which again, the statistics bear this out. Most businesses are not optimized by the time they're taken to market.

 

00:16:18:07 - 00:16:48:05
Mike O'Neill
Now, you've really stressed the importance of sufficiently time to optimize the business, you know, improve the likelihood of a successful sell. I want to go back to something you said a moment ago. And that is if they come to the realization that I need to optimize my business, I need to make sure that it's running well. You use a term something like, I need to be willing, as an owner to let go.

 

00:16:48:07 - 00:16:54:21
Mike O'Neill
So that people within the organization can take on more. Is that a challenge for business owners to like I had?

 

00:16:54:23 - 00:17:20:18
Bob Tankesley
I've seen it too many times. Yeah. And let's face it, you know, you start a business, you or you buy somebody else's business and try to grow it for a number of different reasons. But but one of those is, is just a, to put it bluntly, to do your own thing. And each day you make these decisions.

 

00:17:21:18 - 00:17:45:08
Bob Tankesley
You know to price product or services correctly to maybe not each day, but to hire the right people or to fire the wrong people each day you decide to, you know, sheet you might look at, you know, changing your vendors or, you know, diversifying your customer base each day you are making these decisions one by one.

 

00:17:45:08 - 00:18:06:14
Bob Tankesley
And there's a little bit of dopamine that hits somewhere in the brain that says, you know, you are the you are the leader of this business. You are the captain of your own ship. And that is that becomes a self-reinforcing mechanism, I think, over time. It's almost like a drug, if you think about it, to the point where the business becomes inseparable from the owner.

 

00:18:06:16 - 00:18:30:05
Bob Tankesley
The owner is the business. The business is the owner. That's why I say getting a an owner who someday going to be a seller to start thinking like a buyer is an incredibly difficult mind shift to make sure you're breaking that cycle of these potentially decades worth of decisions being made by one person. That the owner of the business maybe two if it's a partnership type arrangement.

 

00:18:30:07 - 00:19:11:01
Bob Tankesley
But in that case we as we all know there's usually one dominant partner. It you're, you're asking an owner to control less to make fewer decisions, to document processes and procedures in other words. So to get out of their mind, you know, and put down somewhere, usually in a computer, or file of some kind, how things run, how the business runs that that would be something a, most buyers would love to have is to, to have kind of a playbook, kind of a manual on how this business runs requires a lot of bit of the owner's time to do that.

 

00:19:11:01 - 00:19:14:03
Bob Tankesley
In addition to running the business.

 

00:19:14:05 - 00:19:39:15
Mike O'Neill
You know, I referenced your book. Do me a favor. Pick it up again for me. Yep. If you would, I'm going to read this and it reads. This is kind of the, subtitle build a team of advisors for your business sale to get a higher price. One sentence of the things that you lay out in the book how to do that.

 

00:19:39:15 - 00:19:47:21
Mike O'Neill
What have you found is the most challenging aspect of building an effective exit team?

 

00:19:47:23 - 00:20:22:03
Bob Tankesley
A kind of touched on on one piece of it and that is, the willing it's it's probably two parts. One is the willingness of the owner to let others weigh in on the future of the business, let others help him or her make decisions. The second, second largest challenge, I would say, would be, getting those advisors around the owner to actually collaborate, right, to sit in a conference room somewhere or, you know, in a restaurant, setting or, just just anywhere.

 

00:20:22:03 - 00:20:48:16
Bob Tankesley
And or it might even be on zoom, you know, virtual, virtual, platform these days, just getting owners to dialog. I'm sorry, getting the advisors to dialog, between themselves, with or without the owner present, you know, preferably with the owner present as much as possible. But talk about, each of the suggestions that each one of them has, the experiences that they've seen other owners go through.

 

00:20:49:11 - 00:21:20:08
Bob Tankesley
You'd be amazed. At least my mind works this way. How, new ideas can be generated in that, that live, collaborative format. If each advisor around the owner is just having, you know, one off conversations with the owner, in the absence of the advice that could come in from other advisors, you end up by default. I think you can agree we we you end up with a, you know, less coordinated advice and probably advice that, sometimes advice that may conflict with each other.

 

00:21:20:08 - 00:21:43:24
Bob Tankesley
You might have a CPA that, you know, recommends, tax minimization, but you might have a operations consultant or an HR consultant, you know, that says, well, we need to spend money in a certain way, that, you know, that that we've noticed improves value or optimizes the company over time, that requires the advisors themselves to check ego at the door.

 

00:21:44:02 - 00:21:52:06
Bob Tankesley
Right? Yeah. This is for the benefit of the owner. Who somebody's going to be a seller. Let's keep it that way.

 

00:21:52:08 - 00:22:34:01
Mike O'Neill
You know what I'm picking up on is that is when people think you need to surround yourself with a team of advisors. One mindset is, well, I have advisors, and I hear from each and every one of them you're differentiating and that is those are good. But they need to be functioning as a team. I may be misunderstanding your role on this, but it seems to me that you've developed kind of an expertise of bringing people together who learn expertise that appreciate and value the team approach to supporting clients.

 

00:22:34:01 - 00:22:35:11
Mike O'Neill
Am I hearing that? Right.

 

00:22:35:13 - 00:22:38:24
Bob Tankesley
Right opposite. Yeah, Mike. That's that that's great insight.

 

00:22:38:24 - 00:23:08:06
Bob Tankesley
An owner might have certain players on their team already. CPA you know, most owners have have an outside accountant, an attorney, maybe not a transaction attorney, but, you know, someone that reviews contracts, someone that helps him with employment matters. So sometimes, the providers of, of this kind of advice would prefer to stay in a silo.

 

00:23:08:06 - 00:23:41:08
Bob Tankesley
They just want to give advice to the owner, send them an invoice, wait for the next time the owner calls. But where I what I've seen work better is when, they're each as often as possible and when needed talking to each other that the team is, is collaborating well and well functioning. The example I the kind of vivid example I use would be imagine, you know, if you're, you're going to sell your company someday and this transaction is going to take place on a, on a football field.

 

00:23:41:10 - 00:24:04:12
Bob Tankesley
The buyer and their team get on the field, all suited up. You know, they've run the plays. They're confident about the outcome. And there's there's a full team on board. And that's how buyers tend to operate. Full team is is brought to bear. The owner now seller steps on the team on the on the field and their team is themselves and maybe maybe one other person.

 

00:24:04:12 - 00:24:22:07
Bob Tankesley
And it's an incomplete team and he's not run the plays. They've not, you know, talked about, how they want to go up against this other team. So you got to imagine, you got to think that that the outcome of that game is going to be it's going to be lopsided. You can kind of see, who's who's going to win there in that situation.

 

00:24:22:09 - 00:24:26:10
Bob Tankesley
So have a team both internally and externally.

 

00:24:26:12 - 00:24:42:20
Mike O'Neill
You know, Bob, as you have been sharing your experiences over the years, can you also share an example where perhaps you or a client, in fact kind of got stuck? And when that happened, what did it take to get that situation unstuck?

 

00:24:42:22 - 00:25:00:05
Bob Tankesley
Yeah, most often, in my world, the, the owner thinks they can, as we've been talking about, make all the decisions that are important to the company themselves. But when it comes time to sell, the owner actually thinks they can sell their own business.

 

00:25:00:07 - 00:25:01:02
Mike O'Neill
And.

 

00:25:01:04 - 00:25:25:04
Bob Tankesley
Let that sink in for a minute. You know, they're they're running a business producing product or providing services. And oh, by the way, they can also run an M&A deal on their own. I don't see that work too often. It in fact, owners, usually put themselves at a disadvantage. In fact, that's, that's, that that plays out in my book.

 

00:25:25:04 - 00:25:56:17
Bob Tankesley
That's it happens so often. I thought it needed to be in the story, itself. So getting stuck in my world tends to be, hey, I can I can run my own deal. I can, I can I can find my own buyer. I can negotiate with them objectively and without my own ego involved. I can have full knowledge of all the, terms and issues that they're throwing at me.

 

00:25:56:17 - 00:26:26:00
Bob Tankesley
The objections that they're raising. I run my business. Who knows more about my business than I do, like, I can I can handle this. Well, it's, it's an unfair contest from the very beginning. You run a business, but. But you don't do M&A deals, so owners should should probably be mindful of that. And let's face it, even if you never sell your company, running an optimized company has all kinds of upside.

 

00:26:26:02 - 00:26:52:00
Bob Tankesley
You can attract capital better from banks and investors on better terms. You can employ better people. You can buy up weaker competitors. You can, you know, start, start lines of business or go into geographies that, that geographic areas that you might not have otherwise been able to. So even if you transition your business internally, getting unstuck can mean this.

 

00:26:52:00 - 00:27:03:21
Bob Tankesley
The difference between a one generation business and and a multi owner Multi-generation type of business that gets increasingly larger as time goes on.

 

00:27:03:23 - 00:27:32:24
Mike O'Neill
Your baba, as you kind of reflect on what we've discussed and reflect on what you learn in the process of writing a book, what might be one final insight? What might be one practical takeaway that you would want our listeners to hear and act on? If they are a business owner contemplating a sale, or perhaps they advise business owners who would that one practical take away?

 

00:27:32:24 - 00:27:37:03
Bob Tankesley
Be sure hands down. Start today.

 

00:27:37:21 - 00:28:03:17
Bob Tankesley
Start today. Start thinking like a buyer today. Start objectively looking at your business through a buyer's eyes. Do your best, you know. Do your research. Who's buying who in the industry? Why are they buying it? Why are that? Why are different types of buyers buying companies within your industry? And do this, do this years in advance of trying to put your own company up for sale, optimize your company, take the time to do it.

 

00:28:03:17 - 00:28:09:13
Bob Tankesley
As we said, 3 to 5 years. Build that team around you. But please, please, please start today.

 

00:28:09:15 - 00:28:43:05
Mike O'Neill
Oh, that's spot on. Very, very helpful. You know, before we close, I do have a question for our listeners. And that is why do people choose to follow you? Is it an obligation or because they genuinely believe in your vision and values? True leadership begins with clarity, grows of competence, and thrives on excellence. As an executive coach, my role is to help leaders cultivate these strengths to inspire their teams and achieve lasting, meaningful results.

 

00:28:43:07 - 00:29:13:01
Mike O'Neill
Happiness builders. Our mission is simple but powerful to help good leaders become great ones through actionable strategies that make a real difference. So if you're ready to take your leadership to the next level, visit venture-builders.com to explore how we can support your business. Bob, thank you for sharing your valuable insights. You know, listeners, if they want to connect with you, what's the best way for them to do so?

 

00:29:13:03 - 00:29:31:14
Bob Tankesley
I enjoy a phone call just as much as anybody else. (770) 633-1083 is my phone number. That's my cell number. I'll pick it up any day. Any time of day. Pretty much. Also email address is Bob at exit teams. That's teams with an s.com.

 

00:29:31:16 - 00:29:56:02
Mike O'Neill
Excellent. You know I actually I rarely hear people give the actual phone number. It's funny I too love an old fashioned phone call. It works best. That's it not. Yeah. Again, Bob, thank you. And I also want to thank our subscribers for tuning in. And I hope today's conversation sparked some new ideas and inspiration. And to help you get unstuck and on target.

 

00:29:57:13 - 00:30:01:13
Mike O'Neill
Thank you for joining us for this episode of Get Unstuck and on Target.

 

00:30:01:15 - 00:30:22:03
Mike O'Neill
I hope you gain insights to help you lead with competence and drive your organization forward. Remember it, Bench builders. We're committed to your success, your leadership excellence, and your strategic growth. If you've enjoyed our conversation today, please leave a review rate and subscribe to keep up with our latest episode.

 

00:30:22:12 - 00:30:26:12
Mike O'Neill
This show really grows when listeners like you share it with others.

 

00:30:26:11 - 00:30:29:24
Mike O'Neill
Who do you know? Who needs to hear what we talked about today?

 

00:30:30:08 - 00:30:37:13
Mike O'Neill
Until next time, I encourage you to stay. Focus on the target and continue to break new ground on your leadership path.

Bob Tankesley Profile Photo

Bob Tankesley

M&A Advisor and Author

Bob Tankesley is an M&A Advisor who helps owners selling companies grossing $4,000,000 to $40,000,000. These are companies that tend to be bought by sophisticated buyers such as private equity firms, industry strategics and high net worth families. He serves in that role primarily throughout the southeast U.S. He is a 4th generation entrepreneur and a CPA by training, as well as the author of the newly-release book, Exit Teams. You can learn more about the book and its content at ExitTeams.com.