How To Hire A Ceo / Professional Management Team to Enhance Selling  A Business
Upcoming SlideShare
Loading in...5
×
 

How To Hire A Ceo / Professional Management Team to Enhance Selling A Business

on

  • 829 views

We at Exit Planning LLC have expertise in helping owners find and hire a CEO to lead the company. We meet with owners to understand the company, including its strengths and weaknesses. We then ...

We at Exit Planning LLC have expertise in helping owners find and hire a CEO to lead the company. We meet with owners to understand the company, including its strengths and weaknesses. We then tailor-make a Job Description, create an Ad based on the Job Description, post the Ad and receive resumes. We select the top resumes for a 1st interview and choose the top three for a second interview with the owners. Contact us to help you find your own professional management team!

Statistics

Views

Total Views
829
Slideshare-icon Views on SlideShare
814
Embed Views
15

Actions

Likes
0
Downloads
0
Comments
0

1 Embed 15

http://www.linkedin.com 15

Accessibility

Categories

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    How To Hire A Ceo / Professional Management Team to Enhance Selling  A Business How To Hire A Ceo / Professional Management Team to Enhance Selling A Business Presentation Transcript

    • HOW TO HIRE A CEO / PROFESSIONALMANAGEMENT TEAM TO ENHANCE SELLING A BUSINESS Joe Rodwell ExitPlanning LLC 651 439-2375 www.ExitPlanningMN.com www.LinkedIn.com/in/JoeRodwell
    • Entrepreneurs Highly disciplined Hard working Willing to take risks Driven (sometimes to a fault)
    • “If you want your business to become more valuable, youmust become less valuable!”This is particularly challenging for entrepreneurs.
    • Value Drivers Focus on before-tax earnings that reflect future income growth Develop operating systems that sustain before-tax earnings Document sustainability of earnings Improve company performance measured by industry metrics Update facilities, equipment, and systems to state-of-the-art
    • Value Drivers (continued) Pay down debt, manage inventories – recognize obsolete items Solidify and diversify customer base Implement strategies to grow the company Build a solid management team – incent team to perform
    • Value Drivers (continued) Most Critical for 3rd Party Buyers: Pre-tax earnings – EBITDA Quality of existing management team, including – “will they remain?”
    • Core Competencies of a Successful Entrepreneur Leadership Operations Marketing/Sales Financial Management & Administration
    • Difference Between Entrepreneurial & ProfessionalManagement: Entrepreneurial Management - Company in which only owners/founders hold significant management positions. Professional Management - Company in which one or more non- owners hold significant management positions -- usually the non- owner manager has greater experience and/or training with meaningful methodologies in one or more of these areas: Operations Marketing/Sales Financial Management & Administration
    • Benefits of Professional Management:  Brings new disciplines and methodologies into the business  Relieves stressed owners  Mentors owner’s children  Can create considerable additional value  Facilitates multiple exit planning strategies
    • How Can a Business Owner Find Professional ManagementTalent? Own professional network Own direct advertising However, this is not in the owner’s normal area of expertise.
    • How Can a Business Owner Find Professional ManagementTalent? Hire an Executive Search Firm (they generally represent the CEO), or Select a Firm with Business Ownership Experience
    • Advantages of a Firm with Business Ownership Experience Complete Understanding 1. Leadership 3. Operations 5. Marketing/Sales 7. Financial Management & Administration We represent you, the business owner, not the CEO!
    • Advantages of a Firm with Business Ownership Experience(continued) Ask the right questions – and listen SWOT Analysis Job Description Advertisement Candidate Questions
    • Selection Process Create ad and gather resumes Interview top 8 Select top 3 for 2nd interviews Have top 3 complete Personality Profile – create own Profile Identity Perform background/credit checks Select top candidate – check references
    • Compensation Package Competitive Salary Bonus for EBITDA increases Phantom Equity Plan – with non-compete
    • Post-Hire Follow Up Introduction to the Company Announcement to the Industry Board of Advisors Meetings
    • Board of Advisors Meetings Purpose - Accountability Agenda for first 6 Meetings with new CEO performing these tasks: 5.Completion of SWOT Analysis 6.Reports on “due diligence” on the company 7.Gives Board detailed & unfiltered state of the company report 8.Presents proposed Strategic Plan for review & consideration 9.Presents next year financial projections and budget 10.New CEO creates Agendas at and after this point.
    • ABC Manufacturing Company Today Revenue - $10,000,000; EBITDA - $1,000,000 Value - $3,000,000 (lack of management team) Operations – Solid Marketing/Sales – Lacking Financial Management & Administration – Lacking
    • ABC Manufacturing Company Tomorrow Revenue - $30,000,000; EBITDA - $5,000,000 Value - $25,000,000 Operations – Solid Marketing/Sales – Solid Financial Management & Administration– Solid
    • Summary Entrepreneurs Value Drivers – Two critical 1. EBITDA 2. Management Team Advantages of Firm with Business Ownership Experience Board of Advisors Meetings