
M&A Murders & Accusations: The Good the Bad and The Ugly of Selling Your Business
M&A Murders & Accusations: The Good, the Bad, and The Ugly of Selling Your Business! We dig deep into what you MUST know when selling your business. Learn how to NOT kill the sale of your business. Rick J. Krebs, the mastermind M&A Advisor (Mergers & Acquisitions, not Murders and Accusations) and expert at selling businesses, has transformed the lives of countless business owners by helping them secure the right buyer at the right price. You have only one chance to sell your business and this podcast will provide the vital information you need to know.
Brace yourself for mind-blowing discussions with industry experts and business owners who have already sold their businesses.
M&A Murders & Accusations: The Good the Bad and The Ugly of Selling Your Business
Using AI to systematize operations and the sale of your business with guest Matt Gruber
In this podcast we discuss the complexities of selling a business, featuring Matt Gruber, an entrepreneur with a legal background. Matt shares his experience of losing a business due to lack of succession planning and the importance of documenting and cloning business knowledge. He introduces Cotingency, a service that uses AI to help business owners systematize their operations and prepare for exits. Matt emphasizes the need for business owners to understand their business's value and plan for contingencies, especially in family-owned businesses. He also highlights the practical use of AI in creating task lists for key personnel in emergency situations.
Visit us at:
Bsalesgroup.com
DesignMySale.com
Speakers
Speaker 1 (75%), Speaker 2 (23%), Speaker 3 (1%), Speaker 4 (0%)
S
Speaker 1
0:00
Rick, hello and welcome to M and A murders and accusations, the good, the bad and the ugly of selling your business. We dig into what you need to know and how not to kill the sell of your business. Now. Here's our host, Rick J Krebs mergers and acquisitions advisor. Hello,
S
Speaker 2
0:23
everyone. This is Rick the M and A cowboy coming to you from Arizona, and I am excited about our guest today. Today on the episode, we are going to meet with and hear from Matt Gruber, who is an entrepreneur, he started a cool little business, and the more I learned about the technology, the more excited I was. But anyway, Matt's here with us today, and he's going to tell us about what he's doing. And I think this is cool for business owners, and I think he offers a good and unique solution for business owners who are contemplating a cell. So welcome Matt, glad to have you. Thanks
S
Speaker 3
1:04
for having me. It's really wonderful to be here. I'm excited to talk today. Well, very
S
Speaker 2
1:08
good. So as my listeners know, anytime that we start, the first thing we want to know is something about you. So tell us something a little bit about your background, where you're from.
S
Speaker 3
1:21
Sure. So my background is in law. I've been an entrepreneur and an attorney for almost 20 years now, and born and raised in Miami, never really left to school here, to law school here, and my background has been more in business law and estate law, so it kind of just translated nicely into the current business that I've created. And throughout my career, I've been exposed to a lot of business owners and worked with very successful, multi million dollar entrepreneurs, in helping them plan for different types of circumstances and a bit of a different way where they exited. And so I've taken a lot from that experience, along with my love for for technology and efficiency, and kind of parlayed all that into what this current organization is in cotingency.
S
Speaker 2
2:23
Gotcha. So. So your background is in law. You're an attorney. We won't hold that against you. Appreciate it so, and I'm I'm a reformed CPA myself, so I can relate. But I think that the law background is very helpful. And what, what helps make you unique? And tell us a little bit about I love the law background, like, like, I joke about being an accountant and but it does help. Nearly every day, I use those skills, and I think you use those skills, but tell us a little bit about cotingency and how that got started. What was it that precipitated that?
S
Speaker 3
3:05
Sure, so let's see. I think being a lawyer and being in the areas of law that I've been in have helped very much to allow me to understand the for lack of a better way, the legalities and the the red tape that's required for succession and transactional type of events to happen. It's very rigid. The legal thinking often actually is not very creative when it comes to the transactional side of these things, and when it comes to scaling a business, so when it comes to getting out and being very profitable and doing it. So I think that where I ended up shifting at one point was when I decided to scale my second business, which was a law firm, and so much of that ended up having to be unlearning. A lot of the the overly analytical things about being a lawyer, to allow for me to let go of control, for me to be better at delegating, for me to do a lot of the personal professional development work that allows what I think most of our our listeners here as business owners, are always trying to do and in growth. And so when I started taking lots of courses and entrepreneurship and every aspect and subset of a business, and all the departments and and and doing all the work. One thing I realized was that things needed to depend less and less on me and and that was really challenging as being the managing attorney of a thriving law firm, being the entrepreneur, being the. Owner. I kept stripping off hats, but I still had a lawyer brain. I still had a control sense to me, right? And so as I grew I realized I need to document and kind of clone my own brain, both for my brain, clone my knowledge. Clone my the way I work, my systems, my processes, everything so that I can better delegate things as we grew. The part where kind of things became very clear was I had already lost a business once with my father because we did not have a plan for succession. We were growing very rapidly. We were doing great, and we were scaling. And when he got diagnosed the terminal illness, everything imploded. Everybody meant well on the team, but people started seeing the writing on the wall. We could not we were engaged in trying to make sure that mistakes weren't made and that clients were taken care of and whatever. But we weren't focusing on growth, because we were in survival mode. And this, this happened. I was fortunate in that his diagnosis, although terminal, took time. We had time on our hands. Other people, and they have sudden incidents, lose everything overnight. They don't understand how fast a business, anywhere from 2 million to 50 million, can lose all of its value within about 30 to 90 days. Gotcha
S
Speaker 2
6:30
so hold on one second. Yeah, yeah. So let me get this straight. So you are running a business with your dad, all of a sudden, bam, he finds out he has terminal cancer, so you're dealing with a personal matter. I mean, it's your dad, right? I just lost my dad a few months ago, and I know, right? I know exactly how you feel, so you're dealing with that, plus you're dealing with the business, right? And then the business, you have employees, you have customers, you have all of this coming at you at one time, and and I think, and
6:59
we were in growth mode,
S
Speaker 2
7:03
and you're in growth mode, so sounds like you're playing dodge ball with 50 lead balls coming at you all at once, and you're ducking and you're diving and you're jumping and doing everything. But that is so interesting, because I think business owners don't understand how catastrophic it can be to their business when they have a life event, come in and totally mix it. I mean, they they feel safe. They're just running the business, you know, yeah, 5 million, 10 million, 50 million, I don't care how big the business, but you you have this kind of ivory tower that you're in, and you're feeling safe. You're feeling like everything's going but they don't understand how quickly it can all come tumbling down.
S
Speaker 3
7:45
And we were conservative thinkers. We always had money in the bank. We didn't suffer any financial difficulties. I was able to make that implode in a controlled way.
7:57
Wow. And you lost a business. You said, we lost
S
Speaker 3
8:00
the business totally. We lost in everything. Everything went down. We didn't go into any debt, because we were always kind of 10 steps ahead financially. We didn't take a lot of big risks. You know, we grew things very sustainably, and we weren't taking out loans and things like that. But, yeah, lost everything, and I had to start over. And so to go back to your original question, when I started over and I got my bearings underneath me, and he had passed. You know, it took a few years for us for all that dust to settle, but when I decided to grow again, and I started doing all this personal professional development, getting out of that lawyer brain and being more entrepreneurial minded and letting go, I saw I got really sick during COVID. I, you know, I thought I was gonna go one night, and so I started staying up all night, right? Because I was just waiting for my oxygen levels to to level off. There were, there were no beds in the hospital at that point in time. This was in 2021 and, wow, yeah. And my business was really doing well. And I thought, Oh, my God, if I die tonight, the business again, is going under tomorrow. And this is not about estate planning, because I had done my estate planning. I had people appointed to stand in my shoes. They just had no idea how to run my business, how I hadn't done a proper transfer of knowledge from myself to other people. I hadn't set up proper protocols for transfers of secure information. Password wallets. Ingratiated them into the human resource aspect of my business so that there was trust, introduced them to vendors, to key clients, to things like that. And so I stayed up all night and started writing out all the logistical things that I would do if I survived the next day. And once things leveled off, I went to bed, and then the next day, I woke up and I said, Okay, I'm gonna make this a thing. And so it took me a few years to start writing out everything that would have to happen in both a short term plan and a long term plan. An emergency plan to mitigate stuff that I had dealt with now, potentially twice and then and then for a long term plan. Because on the long term side of things, business plans are really good at looking like maybe three years out, they start to get fuzzy five years out, but they don't really look toward building the equity toward the exit space. You know there's a there's a unique number of businesses that they know they're going to be unicorns. They know they're going to be major startups, and they're planning for their exit, but 99% of the rest of the businesses think that they're just going to retire one day, and that they're not, they're not going to retire in that business. So I started building out what would need to happen, both in a short term and a long term, so that it can also be worked into the business plans that we all work with, with all of our wonderful fractional coaches and C suite people now and and building that out. And so what, what ended up happening that was really cool was the the building of these plans ended up being an incredible lift, but when I was getting ready to launch it in 20 you know, at the beginning of 2024, AI came out to mainstream public for us to use it, and we were early adopters and started developing Our own models and software to streamline this process, because when you effectively want to transfer knowledge and clone a founder and take everything that makes a business essentially prepared and marketable for when it's time to transact, there's a lot of information, there's a lot of there's a lot of data that's stored in calendars, in emails and systems and processes inside of an owner's head that needs to effectively be spelled out and clear to both people that are around the owner now and to those that are acquiring a business. And so we got lucky in that what I wanted to build also could be enhanced by our development and use of artificial intelligence while still providing the consulting side of things.
S
Speaker 2
12:10
So the artificial intelligence, and I hear this from business owners, we, you know, and I'm a business owner, so we tend to be control freaks, right? Yeah, but when we're contemplating an exit, we need to back away from that. I always tell my business owners, you know, the business has to run better in your absence and your presence. And it's easy to say and hard to do, but I love this because you're from what you're telling me, your company uses AI to clone the owner, right, to figure out what they need, what they're doing. And that's brilliant, because you try and set an owner down and and get them to pay attention to this and give it the time it needs. It's you're not going to do it. I mean, we're all just add, we're going around. And
S
Speaker 3
12:54
so, yeah, that's, that's even a great point, is owners, founders in particular, but not every business owner that we're talking to here is a founder, but the majority are some of some of them have come in and taken over other people's businesses, but usually that that brain is wired to be very distracted their attention and their time is at a premium. And so that's something that in our process, we figured, okay, we have to deal with that. We know that the business owners that say, okay, one day, I want to get out of here, but I don't even know where to start. Getting them to sit down and start is challenging. Getting them to sit down and focus and fill out hundreds of questions and a questionnaire, some of which are not yes or no, majority of which are not yes or no. Answers, right? Like, tell us what you do on a typical day, week, month, quarter, year, what events do you attend throughout the entire year? Who are all of the vendors that you work with, who are all of the people that you trust implicitly in your business, who are the ones that you don't trust? What are all of the things that you know that other people don't know? Explain all your software, explain all your hardware, like in certain situations. What would happen? You know, give us all your legal documents. Give us all of your accounting, your finance. Let's make sense out of all this. They can't do it. They can't do it through a traditional sense, right? It's probably overwhelming anybody who's listening right now. So what did we do? The first way we use AI, and we use it kind of three very distinct ways, but the first way is just for us to sit down and have a conversation and go as long as they can go. Typically, founders are good at talking. They're good at one on one sitting. You tell them to show up and just perform, and they can do that. You tell them to sit there and write a whole massive book report or fill out a bunch of questionnaires or aggregate documents. They're done projects over and so we take a very unique project management approach to the way we want to clone them, and we sit there and let them talk, and our AI models will grab everything that when we take it back to the lab, you know, even if they answer questions one, seven. 1394, and 99 in one answer. You know, our AI will grab all of their answers and reapply it to wherever it goes in our questionnaires. And then the second level in our model is then that the AI will has been trained on our system to evaluate the quality of their answers for what we're looking for. And so it breaks them on a scale of one to five for and it's hundreds of questions, a lot, you know, it ends up being a lot. We don't have to ask all the questions, because they end up answering so many in their wonderfully, you know, add induced moments, right? Which is, which is great, feeds into their strengths. And so every question that gets a score of a four or five grade moves forward in the process. Anything that doesn't gets aggregated into a list of questions for my advisors to go back and and tease that information out of them in a subsequent session, but not pestering them with a million emails back and forth, because it'll never get done. Non stop having tons of subsequent meetings because their time is at a premium, right? And so once everything passed muster, then the third level of AI is that it takes all of it and creates materials, you know, policy, systems, procedures, outputs, deliverables that can be used both for them in executing a long term strategy for exit, that can assist their teams in what they need to know for short term exits and things like that. And yeah, it works out really well to for them to have something to implement, with their coaches, with their CPAs, with their attorneys, as they make changes over time, because usually people don't exit at the perfect what they would have considered the perfect time. Sometimes it's when your buyers are ready, you know? Sometimes it's, it's when life circumstances are like, You know what my therapist says I need to go focus on the next chapter. And it may not be retirement, it may be a better suited business for this person. It may be health related, it may be kids, but whatever it is, if you want to withdraw, or if you want to exit, you certainly need to be able to unload what you know and how you do it. Gotcha.
S
Speaker 2
17:20
And so, so two things, one, it helps mitigate risk. Oh yeah, right. These, these life events, things that happen. And two, it helps define the role of the business owner, the roles and duties and processes of the business owners, so that another person can step in their shoes. So walk me through how that works. So they have, like, an Is there a manual? Is there an SOP or
S
Speaker 3
17:47
Yeah, work. That's exactly how it works. We create manuals and SOPs for every aspect of what they know, who they know, how they know what, how they do it, so that it can be transferred. Now some of your listeners may say, Well, I already have all that I can take away as much time as I need to right now, my business is big, and this is something that we've been navigating recently, where there's one class of businesses where the question is, can your business run without you? And then there's other class of businesses that we're dealing with now, like the one I just told you about, and the question is, will your business run away without you? And what we're providing to the business owners that already have removed themselves more from the day to day is then setting up the communication protocols helping them navigate what legal documents should be set up, what systems should be set up so that if something does happen to them, or if they do get approached with a great deal or something like that, that the key people around them don't steal business, that things are well set up, right? Because there's the active owner and the passive owner and the passive owner, you know, could be listening to this saying, I I've already unloaded all that stuff, but if something happens to them, and then their spouse has to come in, even if there's lawyers, even if there's, you know, people around them that can run the business, you got to be Careful. Not every mostly, most of these business owners listening know they're not ready to turn over their business to the people that can babysit their business for them when they go on vacation in Europe for the summer for a month, there's a different level of what needs to be prepared for a meaningful transition.
19:38
Totally different going so that comes down to
S
Speaker 3
19:41
more Machiavellian relationship playing chess with all these people, and not so much the logistical unloading of information in their head, right. There's, it's a different formula for this type of owner,
S
Speaker 2
19:54
gotcha. Gotcha. So for business owners that are thinking about selling, what do they need? Do to get started with you. How does that work? Yeah, so the
S
Speaker 3
20:06
first part is they just book a discovery call with us. There's no potential, you know, commitment or anything like that. We want to understand where they are in their journey and help them look toward the future and develop a very short term plan, and help them look toward developing a long term plan. And one of the the places that we like to start with engaging is for them to start looking more at their business as one of their greatest assets, understanding what the equity is in it. And so we need to bring in someone like you to do an appraisal, even if they're not considering selling, because most, I'm going to guess, that most of the listeners and most business owners out there, we know statistically that I think it's like 97% of all business owners don't know the value of their business on the Open Market, yeah,
S
Speaker 2
20:59
or they think it's overvalued, right? That's the big thing I see,
S
Speaker 3
21:04
right? And so it's once you understand what the value your business is, it changes everything about the way you think about your business. I think that most business owners out there are, what is it creating, like a lifestyle business or a value business, but Right? But most of but most of them, are looking toward top line revenue year to year, and seeing how they can increase it, and what the bottom line take home is going to be, which is great. It's good to look at your numbers and to know those two things and to work on those with your fractional CEO, COO CFO, your accountant, your tax strategist, whoever it is that you're working with, but you gotta know that third number. You gotta know the equity. You gotta know what your business is worth, because that will also help shape your decision making as to how much you reinvesting. And it frames ROI differently. If you stop looking at what you're spending each year to year on just what it's going to make you in the next one to three years, and look at the exit, it'll change your entire, you know, view in life, and your timeline for what you want to do with with with exiting and and it'll change the way you spend in your life, it'll change your comfort level. Your business could be worth a lot more than you think, and you could be closer to what you thought the finish line was, and go do the other things you want to do. And then it sets in motion the other projects that our clients want to do. One of the most exciting things, once we start putting all this this into process, is they start discussing what they're really passionate about, then it creates opportunities to do that charity and set up that foundation, or to go work on that that that other business that they thought they don't have time to do. And for others, it will bring into focus that they're a little too all over the place, and their business may not be worth it quite as much as what they think it is. They need to tighten some things up that are different when you're looking at the value of a business versus revenue. Just different, different analysis completely.
S
Speaker 2
23:13
Yeah. So when we spoke earlier, you were telling me that you like to chase the head, nice tail. Tell me. Tell me what that means.
S
Speaker 3
23:21
We like to clone the founder first and remove them from the equation, because businesses are worth more when the founder is not. The end all be, all of the value of what drives the organization. And we like to get out way ahead of when it's time to transact. And so that's at the beginning the head of the snake, and not at the tail of it. There's a lot of professionals out there that are wonderful in the M A space, but they're there for you at the tail end of your journey. They're there for when it's time to cash in. And they'll take a percentage, or whatever it is, of the deal, and they're absolutely needed. But if you can get out ahead of your exit journey and build toward it, which is where we like to operate, and we see there's just not a lot of real, logistically inclined holistic type of planning. When I say holistic, I mean where we will bring in at the right time, well in advance, the accountant, the estate attorney, the business law attorney, the appraiser, the fractional coaches. Everybody should not be in there all at once, doing the same thing right when you really are planning long term, you got a project manage or kind of be the general contractor for all these people, and so we like to be all the way out at the front of it and work more in a transactional sense, whereas there's, there's not a shortage of wonderful professionals that are going to help at the finish line, right? But the finish line when you're. Be there. You just you might not. You're going to take what you can get at that point. There's not a lot of course correction when you're itching to get out of there.
S
Speaker 2
25:06
Gotcha. That makes sense, and I can see it when you clearly define the roles. Then you know which people to bring in for those roles, right? Is it a fractional CFO? A fractional CEO? Is it a do they need an accountant? You know, what do they need? But I love that where you use the AI, go in and ask them the questions, evaluate it, and use the AI to categorize it. And I want to say systematized, but it's more just defining it. The owners have it all in their head, right? And when they die, well, you experience this painfully with your dad when he when he goes, there's so much in his head that you, you don't know anymore, and you, you can't get it out once they're gone, or you have some life event. And so I love this, because my experience has been these businesses absolutely sell for more when the owner, if it runs better in their absence, than it does their presence, they sell for more money. And and sometimes, you know, I see this, sometimes they build them so well, they don't sell, right? If they have them and they're they're producing cash flow. I see that as a win too. It's like, okay, if they choose to sell, I'll help them. But if not, it's a win because they have this asset that produces cash on a monthly basis for them, and they can do what they need to do, and have flexibility of lifestyle, not have to be worried about every single thing in the business. I'd love that something
S
Speaker 3
26:27
else that we're seeing that's unique, too. And it's not just about cloning the founder, but it's also about making sure that if you're if you're not planning on doing a third party transaction, but an internal transaction, you know you're planning on handing off family business, something like that. You're not going to get as much support out there in the in the advisory or transactional community, because there isn't usually as big a liquidity event. So all the professionals aren't there to help, because let's just use a typical, you know, paradigm of a father handing off a business to a son, the two of them aren't going to want to pay all of the professionals a nice percentage out of the transaction, and so they're going to try to handle more stuff in house. And I think it's never, you know, 50% I think it is of baby boomers still own the businesses in this country. That number keeps going down, of course, but the reality is, is that we've never seen such a crazy division of different types of generations working together in the workplace. Yeah, that's right. I'm tap dancing as I'm saying that right? And everybody, if anybody's still listening at this point, critically, they're laughing at the fact that, like, whether they're a boomer or Gen X, and they're dealing with a younger millennial or you know, Gen Y, I'm sorry, a Gen Gen Z, or Gen a, like they might not want to take over the business, or they may be way too soft to deal with the rigors of being an entrepreneur in their space. And so we see a lot of people putting their heads in the sand and thinking, one day they're just going to mature up and it's going to be perfect timing. Perfect timing. They can hand everything off. What if it's not? What if they're not? What your your idealistic plan to hand off the family business just stops at this point, and they don't want to do it, and that's okay. But then what's the plan? Because, you know, awkward conversations need to be had. Realistic plans need to be made air appearance, or successors, or what you always thought was gonna be a tiny business. Maybe you may be acquired by somebody else. Maybe you need to acquire somebody else to get bigger and then sell, I mean, but there's, there's a lot of, I think there's a lot of room for planning in advance, because then you can bring in the therapist for family sessions. You can bring in the coaches. But it's not, you know, you can mitigate a lot of disaster on these, on these smaller businesses, too, with these, with planning ahead,
S
Speaker 2
29:14
yeah, and I love that you're sharing. I don't want to call them failures. I want to call them learning experiences. Right? In my own business, I sold my business without an M and A advisor, and I got clobbered. You know, that's I learned. I learned the hard way, and you've learned the hard way these lessons, and now you've created this great business cotingency to help other people not make the same mistakes that you made. And I love the risk component, where you just, I can't tell you. I just, it breaks my heart. When I was working with a woman who, you know, six kids, the husband was running the business, got terminal cancer, and three weeks later, he's gone. And now she's not just head of the household, she's head of the business and and she's just swarmed and overwhelmed. In many ways, and and getting some offers that are low, that buzzards, you know, we're we're circling and smelling the blood coming in offering for pennies on the dollar to buy her out. And she is overwhelmed and overworked and highly stressed, and her family needs her, you know, because her dad's gone and and so i My heart breaks when I think about these life events that happen. And I love that you, what you do helps ensure when that happens, that there is a contingency plan, that there are means and mechanisms for dealing with that. And it's, and it's written down and it's, it's solidified ahead of time, so they know, right, yeah. And
S
Speaker 3
30:39
it's also important to practice this stuff. Yeah, right. So we'll sit down with people on their team and say, let's run a little drill. Let's let's see if you know what it is that that you need to do, and something I'll give you a very practical use of what we can do with the artificial intelligence. So that makes more sense to listeners. Is after we've created these really wonderful manuals of everything that must happen, let's just say, in an emergency situation. In the first 90 days, we looked at that, we said, okay, hundreds of pages of well written materials is too much for people in a crisis. When there's five, let's call it at least five individuals in a business who are scrambling and potentially wearing some new hats. Wouldn't it be really cool if we could take hundreds of pages of information that is already summarized based on everything they do and strip it down to one to two page task lists in like an Excel format per person on what they need to do, how they need to do it, and on what day they need to do it in the first 90 days. Wow, we did. We built conditional logic task lists for the COO who might slot over as CEO and the Director of Human Resources who may slot into the CEOs position, and how busy the executive assistant to the now former owner or CEO is going to be with coordinating and so we are able to use the artificial intelligence to cull through the voluminous data and create very practical task lists for a situation or For even if it's not an emergency, for an actual exit, for them to do what they need to do, meet with which external professionals, what days to meet with, the accountants, the attorneys, and schedule things out. And we built it in like an Excel format so that we can help our clients upload it into whatever project management software they would like that in for a situation. So if they use Monday or Asana or Trello or something proprietary, everything recognizes Excel, and so the AI allows it to be extracted and and put down into very tangible, easy tasks, so that everybody's not sitting around fumbling around a virtual conference room table with hundreds of pages, and nobody knows what's up.
S
Speaker 2
33:01
Yeah, yeah. And again, it gives the employees comfort, right? Because they're worried about their job, their paycheck. How are we going to what, what's happening? And so when they have that plan, I could see where it's such a great thing to tell the employees and tell the staff and the key leadership, hey, this is our contingency plan, like an emergency plan, right? Sometimes people have an emergency kit. Well, I want to call this an emergency kit for the business. Catastrophe happens, boom. This is what we do, and this is our this is what each person is. Responsibilities are, I love that. And this day you do this, this next day you do this. This is your task list, awesome.
S
Speaker 3
33:40
And there's financial incentives in place that we recommend that our clients get together with their business law attorney to then put in place for key people to stay because when the ship is on fire, rats jump off of a ship. So we need to make sure that people stay in place for different stages so that they're incentivized. Because as much as when bad things happen, we want to trust that the people that we've taken care of for years are going to be there for us. Gotcha that runs, that starts to run out after a few weeks when they realize, oh, the business might run out of money, or something bad might happen. I need to start taking care of my family. Loyalty only goes so far, yeah, and so that needs to be prepared for, you know? And it's actually not as bad as it as it seems, and this can be done very quickly. That makes
S
Speaker 2
34:33
perfect sense. So we have the risk factor, and then we have the Exit Planning factor, where we clone the owner, help them to find people so that they can eventually take themselves out of the business and work on the business instead of in the business every day. Yeah, this is, this is just so amazing.
S
Speaker 3
34:50
Thank you. Owners are the usually, I mean, the founders are usually the first ones there, and they don't effectively onboard themselves. They just dive in and they don't. Very well off board themselves. They just keep stripping hats. So this is a nice way to do that, and it helps to really show them what they know, so that they can work with their advisors as they continue to hire more people and remove themselves. And then when they prove themselves and they are passive, how to set up all those relationships to outlive them? Because when you're truly not checking on things, it can be pretty scary. What happens to your business? Oh yeah,
S
Speaker 2
35:27
yeah, I can imagine, and I'm sure listeners can tell stories about that too. Oh yeah. We really appreciated the time today, Matt, and it's just great to know you and your business. So tell the listeners how. How did they get in touch with you? If this has been this has piqued their interest and they want to learn more, how do they get in touch with you?
S
Speaker 3
35:46
Yeah, thanks. So they can go to our website, to cotingency.com it's like the word contingency, but without the N. First, we focus on the CEO part of things. We serve companies and we do continuity of operations. So just go to our site and contact us there. They can find me on LinkedIn and direct message if they want to have a little bit more of a personal feel that way, and we'll respond. And I would say, let's start there.
S
Speaker 2
36:15
Okay, that sounds great. So the website, cotingency, C, o, t, I N, G, E n, C, y.com, you can go there and book an appointment with Matt and learn more. So thanks again for tuning in and listening, and we wish everyone a great day. Thanks again. Bye, bye.
S
Speaker 1
36:35
Thank you for attending our podcast. We invite you to join us for future episodes of M and A, murders and accusations, the good, the bad and the ugly of selling your business. You can also visit us at www dot B salesgroup.com or email Rick directly at Rick at B salesgroup.com you.