From Valuation to Vision: Starting Exit Planning Long Before the Finish Line

Episode summary

Pete kicks off The Confident Exit Podcast with Baton Rouge–area advisor Ben Vance to unpack what really drives a successful business exit. They cover why every business will exit (planned or not), how to start years earlier than most owners think, common valuation misconceptions (it’s not just “EBITDA × multiple”), and how to balance the financials with very real family and emotional dynamics. You’ll hear practical next steps, timeline expectations (think 2–9 years), and ways to surround yourself with the right advisor bench so you’re improving enterprise value today—long before you sell. 

 

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Key Takeaways

• Every business exits. Planned/unplanned, voluntary/involuntary—so start early.

• Planning > “the plan.” Keep a cadence (e.g., 90-day priorities) and adjust as life happens.

• De-risk to raise the multiple. Diversify customers/vendors, deepen the bench, document processes.

• It’s not purely numbers. Family + emotion matter; align them before you model the financials.

• Know your gaps. Awareness gap → value/profit/wealth gaps; get a baseline valuation and track EV.

• Investment is required. Tech, people, facilities, and succession are value drivers buyers pay for.

• Consider staged exits. Minority sale to PE/family office can fund growth, then a second bite later.

 

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Chapters 

• 00:00 – Welcome & why this show exists. Building a Baton Rouge–centric ecosystem for better exit conversations; today’s expert: Ben Vance.

• 01:00 – Ben’s winding path. From 2007 real estate “crisis start” → CPA/valuation → M&A → family office → local firm focus helping owners earlier in the journey.

• 03:05 – A new chapter. Bringing valuation/transaction know-how into a long-standing local CPA firm; starting exit conversations years in advance.

• 04:30 – Mentors, background & owning a business. Family small-business roots; lessons from top professionals; becoming an owner and seeing both sides.

• 06:20 – The exit landscape now. Specialists are emerging; exits take time; why owners must begin now despite constant macro “punches in the face.”

• 08:35 – Two real-world stories. (1) Family business upset at value → hires CFO, grows, chooses to keep the company. (2) Patriarch passes → governance gaps strain the business.

• 11:40 – Planning is present-tense. The best exit work happens today; cadence beats one-off retreats.

• 13:10 – Balancing head & heart. Sequence: align family/emotional goals → run the numbers → execute operationally—keep guardrails.

• 14:55 – Build your advisor bench. Outside eyes, informal coffees, or a 6-month advisory board cadence; the power of accountability.

• 16:50 – The three-legged stool. Business-ready, owner-ready, financially-ready—expect “wobble,” close gaps over time.

• 17:25 – Time & investment reality. Even when “ready,” the sale sprint is ~2 years; add prep, buyer search, and post-deal runway → 5–9 years is common.

• 19:55 – Example: staged PE exit. Sell 30–40%, invest for growth with a 5-year runway, then second bite; not for everyone, but a powerful path.

• 22:15 – First steps for owners. Get clear on: (1) personal non-business finances, (2) true business value, (3) needed number & desired life post-exit.

• 24:45 – Avoid motion-without-progress. Retreats need systems (EOS/Value Builder/Value Acceleration) to convert ideas into traction.

• 27:50 – What buyers actually value. It’s EBITDA and risk/growth: customer/vendor concentration, team depth, processes, culture, and transferability.

• 31:00 – Add-backs & reality checks. Clean up the numbers you’ve run for taxes; buyers underwrite their cash flows.

• 33:05 – Final advice. Clarify vision, work urgent-but-important items every 90 days, and shore up documents (buy-sell, insurance, governance).

• 34:50 – First jobs (fun closer). HVAC-in-the-attic summers vs. roofing in Louisiana heat—why both hosts value A/C (and better life choices).

• 36:10 – How to reach Ben & wrap. Connect on LinkedIn; local firm services include tax, plan administration, and now valuation/transactions.

 

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Notable quotes

• “Every business will exit. Planned, unplanned, voluntary, or involuntary.”

• “A plan might be worthless; planning is everything.”

• “Stuff that’s never happened… happens every year.”

• “Start with the awareness gap—then close the value, profit, and wealth gaps.”

• “De-risk and document—that’s how you move the multiple.”

• “Get a baseline value and track enterprise value like a KPI.”

 

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Resources & Next Steps

• Baseline Valuation: Start with an initial assessment (e.g., Value Builder/Value Acceleration style) to benchmark enterprise value and identify top gaps.

• 90-Day Cadence: Pick one urgent-but-important initiative each quarter (succession, customer concentration, process playbook, KPIs) and execute.

• Advisor Bench: Assemble tax, valuation/M&A, legal, financial planning/CEPA, and operations—and meet at least twice a year.

 

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Connect

• Guest — Ben Vance: [e-mail]

• Host — Pete Bush, CFP®, CEPA® : [e-mail]

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Disclosure

The views depicted in this material are for information purposes only and are not necessarily those of Cetera Advisors LLC. They should not be considered specific advice or recommendations for any individual. Neither Cetera Advisors LLC nor any of its representatives may give tax or legal advice. Pete Bush is a registered representative offering securities and advisory services through Cetera Advisors LLC, member FINRA SIPC, a broker dealer and registered advisor.

The guest on this episode is not affiliated or registered with Cetera Advisors LLC. Any information provided by our guest is in no way related to Cetera Advisors LLC, or its registered representatives. Cetera is under separate ownership from any other named entity.

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