Family business coaching, family business consulting. Which do you need? And how can we help you? I've got all that and so much more on today's edition of the Inside B.S. Show. Hey now, welcome to the Inside B.S. Show.

This is the daily podcast that I host with my partner, Nicola Gellarmino. Today, I'm gonna share with you how we at Exit Success Lab can work with family businesses to help them grow, to help them prosper, and to potentially help them transition, whether they are transitioning from one generation to the next, or whether they're preparing to be sold. So, Exit Success Lab started when Nicola Gellarmino and I wanted to help business owners grow their business so they had the most options when they were prepared to exit.

We've evolved into a coaching and consulting firm to help family-owned businesses. Now you may be thinking to yourself, well why, Dave, specifically family-owned businesses? And I'll tell you that businesses that are owned by family members or where family members work together to lead the business are unique in that they have a dynamic that takes place outside of work as well as a dynamic inside of work. And in our experience, this dynamic has an impact on whether the business grows and prospers or whether it stagnates.

There are three ways that family businesses come to us for help. The first way is when a family business is struggling to grow or they're growing but not at a pace that they would like. If you are experiencing growth challenges now in your family business, our company, Exit Success Lab, is the place for you.

Here's how we help businesses that need assistance in their growth process. The first thing we will do is do an overall assessment of the business. We'll examine your processes and procedures related to growth and then we'll make some recommendations.

If you want help in implementing those recommendations, we will do some consulting work. The consulting work we do is actually guiding you to put the processes in place to enable the growth to unlock your future growth potential. Now, if you want us to do a lot of the work for you, so for example, if you want us to find the sales team for you and put the sales team together and then train the sales team and put the processes and procedures in place, we will do all of that work for you and we will bring in people to help you do that work.

If you only want us to outline the programs, the processes and procedures and go away, we will do that too. So that's our growth consulting process. If you, as a family business owner, the CEO of a family business, would like to move your business from one generation to the next, within the next, say, 18 months to three years, because you're thinking of transitioning your business from where you are now to the next generation, we can do that with you as well.

We can come in and assess the overall status of the business, outline a plan for transition, either an 18 month or a 36 month plan for transition, and then you can put the plan in place or we can help you put the plan in place. We do all of those things for family businesses that want to transition from one generation to the next. The third thing we do at Exit Success Lab is we help family businesses that do not have a next generation to transition to, we will help them get ready for a sale.

Now, our programs for getting ready for a sale are either 18 months or 36 months in length. We will come in and do an upfront assessment again and determine whether you're right for an 18 month process or a 36 month process. At that point, we will recommend a way for you to sell your business.

So we can help prepare you for an ESOP. We can help prepare you for a strategic sale to maybe a competitor or another company. We can help prepare you for a financial sale to say private equity.

All of those options are on the table and all of those things will be discussed with you as the leadership team. So the three ways we at Exit Success Lab help family owned businesses, one, we can help you grow. We can put a plan in place for growth and we can help implement the plan.

Two, we can help you transition your business from one generation to the next. We can put a plan in place and we can help you implement that plan. Three, we can help you with a sale, whether it's a strategic sale to someone who's acquiring your business or a financial sale to potential private equity partners or to transition to an ESOP employee ownership or a management buyout.

Those are the three ways we help family owned businesses. And this is our consulting practice. Now, at Exit Success Lab, we also have a coaching practice.

The people we coach are professionals. So if you are an estate planning attorney, an intellectual property attorney, a corporate transactional attorney, we can help you. If you are a consultant in the HR space, a leadership development coach or consultant, or someone who's in the insurance industry or financial services industry, a financial advisor, a wealth advisor, if you're focused on working with family owned businesses in any of those professional service practices, we can coach you.

And what that coaching process looks like is we help you speak the language of family owned businesses. We also teach you how to go out and attract family owned businesses into your practices. So if you're struggling to get businesses that are doing five, 10, $20 million in annual revenue, privately held businesses, we can help you attract those clients because that is what we do all day long.

Our coaching process is a certification program. Now, you may be asking, Dave, if you're helping me as a coach attract family businesses, why do I need to be certified? Well, we also use our coaches, our top students in our coaching program, we use our coaches to implement some of those consulting engagements that I outlined to you previously. So if we're helping to do the coaching work for a business owner, we will use the coaches who are part of our program.

That's why we have a certified enterprise value advisor program. You don't have to be certified to go through our coaching process, but you need to be certified if you want us to recommend you to our clients, if you want us to use you as a professional service provider to help our clients. Now, there's a third group of people that we at Exit Success Lab work with.

This is business brokers and M&A professionals. We work with business brokers and M&A professionals in two ways. The first way we work with them is to help facilitate the sale of the businesses that need to go to market.

We don't do that ourselves. We use business brokers and M&A professionals to take those businesses to market, investment bankers and M&A professionals. We also work with them when they have a business that isn't ready.

So if you're an M&A professional or you're a business broker and you have a business that is a year and a half or two years or three years away from being sold, send them to us. We will prepare the business for sale and we will give it back to you to facilitate the transaction. That's everything that we do here at Exit Success Lab.

If you're interested in any of those offerings, reach out to me, reach out to Nicola Gelarmino. You can reach me at 305-692-5531. That's our work number, 305-692-5531.

If you're interested in being a participant in our coaching program for professionals, call that number as well, 305-692-5531. We want to work with you to help you grow, to help you prosper. Everything we do is designed to help you become more successful.

I'm Dave Lorenzo. This is the Inside BS Show. We'll be back here again tomorrow with another show for you.

Until then, here's hoping you make a great living and live a great life.