Optimize Every Fundamental Component Of Your Business

December

15

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Do you want to accelerate growth, avoid pitfalls, and achieve peak performance in your business? Our special guest Shawn Walsh from Encore Strategic empowers clients with the objective advice and powerful tools needed to profit, grow, and exit successfully. He is going to share some of his best stuff with us today.

Join Tim Fitzpatrick and Shawn Walsh for this week’s episode of The Rialto Marketing Podcast!

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Optimize Every Fundamental Component Of Your Business

Tim Fitzpatrick
Do you want to accelerate growth, avoid pitfalls, and achieve peak performance in your business? Our special guest empowers clients with the objective advice and powerful tools needed to profit, grow, and exit successfully. He's going to share some of his best stuff today. You do not want to miss this. Hi, I am Tim Fitzpatrick with Rialtor Marketing, where we believe you must remove your revenue roadblocks to accelerate growth and shouldn't be difficult. Thank you so much for taking the time to tune in. I am super excited to have Shawn Walsh from Encore Strategic with me today. Shawn, welcome and thanks for being here.

Shawn Walsh
Thanks for having me, Tim. I appreciate it.

Tim Fitzpatrick
Yeah, absolutely. I'm excited to dig into this. Before we jump into the heart of the conversation, I want to ask a few rapid-fire questions. You ready to jump in?

Shawn Walsh
Absolutely.

Tim Fitzpatrick
Okay. When you're not working, how do you like to spend your time?

Shawn Walsh
Scuba diving, motorcycling, golfing.

Tim Fitzpatrick
Okay. And motorcycle, road or dirtbike?

Shawn Walsh
Anything with two wheels qualifies. I like them all.

Tim Fitzpatrick
Nice. So what's your hidden talent?

Shawn Walsh
I think it's being able to identify an opportunity quickly and not being able to seize the moment and grab that opportunity when it presents itself.

Tim Fitzpatrick
What's the best piece of advice you've ever been given?

Shawn Walsh
Surround yourself with successful people. You become who you surround yourself with. Today, there is an excellent post by Seth Godin, whose blog I highly recommend. And he had a comment on there today that said that you will accelerate yourself by who you surround yourself with. And I just thought that was great advice.

Tim Fitzpatrick
What's one thing about you that surprises people?

Shawn Walsh
I spent 15 years as a police officer headed a detective division and spent some time working undercover narcotics.

Tim Fitzpatrick
I had no idea.

Shawn Walsh
No, most people don't.

Tim Fitzpatrick
Yeah. Is that how you started your professional career?

Shawn Walsh
You know, I did. So the company I had before Encore was an IT services company. And surprisingly enough, people always want to know, Well, how do you go from that to this? And the timing was right. I wound up in the police department young, and we were just converting to computer technology. I was also going back to school, wound up in a IT class that I really connected with me, and wound up doing computer forensics, computer crime investigation, and saw the need in the industry and built a part-time company to keep my skills current that took off. And again, it was all about timing and technology. And I was able to parlay one career into the next.

Tim Fitzpatrick
Into another. That's awesome. We never know where our paths are going to take us.

Shawn Walsh
No, we don't. It's funny how sometimes they turn just again. That opportunity presents itself. I tell the story. I went into that IT class in college, kicking and screaming. I wanted nothing to do with it. They said, Sorry, it's the only thing that fits your schedule. It's required. Just tuck it in. And I came out of there changing my major and changing the entire path of my life.

Tim Fitzpatrick
Yeah. What does success mean to you?

Shawn Walsh
You know, it means being in a position to give back. The great thing about success is that then once you've achieved it, you're in a position to help others and to help other people get a leg up. Because one thing I found dealing with successful people is we all talk about the theoretical self-made person, but Arnold Schwarzenegger put it best when he said, We all ride on the shoulders of others. We've all had help from other people who've been there. And when you're successful, you get to be in a position to give back.

Tim Fitzpatrick
Yeah. When we see, quote-unquote, successful people, there's so much below the surface that we have no visibility to. So where's your happy place?

Shawn Walsh
Underwater.

Tim Fitzpatrick
I was wondering if you were going to say that.

Shawn Walsh
Yeah. I am, as an individual and in business, I tend to be very type A, fairly high strung, your typical ADD entrepreneur. And my wife will tell you that I'm very different underwater. I'm very chill, very zen, and it just flips a switch for me.

Tim Fitzpatrick
If only you had gills, right?

Shawn Walsh
Yep.

Tim Fitzpatrick
What qualities do you value in the people you spend time with?

Shawn Walsh
Brutal honesty. I'm not good with dancing around, beating around the bush. I want to know where I stand with you, and chances are you're going to know exactly where you stand with me.

Tim Fitzpatrick
I love it. So Shawn, tell us a little bit more about what you're doing at Encore Strategic.

Shawn Walsh
Yeah, thank you. So Encore Strategic is a company that I built after successfully exiting the IT services company. We built that to locations in four states, got approached at the end of 2017 to be bought by a large national service company. And we took that option and exited. And I wasn't ready to be done and wanted to be more in a position to give back. So we started up Encore with the idea of helping entrepreneurs. And we do that in three main categories. So we do peer groups for business owners where we have business education, we provide accountability groups, and we provide a support system for owners that they don't get other places. There's a lot of peer groups out there. Ours is very focused on accountability and making sure that it's great to have the social connection, but the groups are really about being held accountable and setting goals and taking steps to achieve them. We also do direct consulting where we work one-on-one business owners. We come in, we help you optimize your team. We look at your operations, what's your profitability, what's driving it? Are there ways that we can improve it? So the one-on-one. And then specifically in the IT space, we do what's called recruiting as a service, where we go in and we take over your hiring process. And what differentiates us from a traditional recruiter is we don't do one-offs. We're not looking to just fill a seat and go away and have you call us when you need us. We believe in building a team, and our service helps you build a strategic team that will work well together, and that the people that we're hiring are hired on your core values and on your culture, and that everybody's going to be a good fit and be cohesive in that structure.

Helping Business Owners to Profit, Grow, and Exit the Business

Tim Fitzpatrick
I love it. So let's dig into the areas of your expertise. I know you guys focus on helping businesses at three stages: profit, grow, and exit. Can you just walk us through these phases a little bit and what they are?

Shawn Walsh
Absolutely. And this applies to our peer groups as well. So we tier them based on operational maturity. And typically the first stage of business is profit. You don't last very long if you don't have some profit. And that requires you... That gives you the fuel to reinvest in the company, it gives you the resources to hire the right people. So if you're a Reddit fan, there's a subredit called AntiWork. And if you read that, you would think profit is a dirty word. And profit is the fuel. It's how you use the profit that makes it good or bad. And it's whether you're re-investing in your people, whether you're taking care of your clients. And you need profit to be able to do that. So the first thing we focus on is how are you going to have a profitable business? Because you're not going to be around for a long time if you don't. You're not going to be able to do the things that help people. Oftentimes when I hire somebody, myself, a contractor or a professional, we get into the pricing discussion and you can see the uncomfortableness as they wiggle in their seat and I tell them, Look, let me explain something. I don't want the lowest price. I want the poorest price. And the key difference there is if you're going around trying to compete on price and lowballing, you're not going to be there when I need you down the road. If you give me a fair price, I'm going to be happy. You're going to be happy and you're going to be happy, and you're going to be there the next time I need you. So don't be afraid to ask for a fair or even a premium price. There's nothing wrong with that as long as you're delivering the equivalent value that goes with that price. So that's the first stage. And we focus on how to properly price your services, how to package things properly, how to present them. And we focus very much on financial metrics and other business metrics to ensure that you're putting those out there correctly. The second phase is grow. This is where the company has really got a handle on the profit side of things. You're hitting your metrics, and you're starting to run like a well-oiled machine. But now the space might be getting crowded, you're running against competitors. And the grow phase is really where we move from tactical to strategic. And the discussions become more strategic, and we're talking more about how do we grow this company? How do we differentiate ourselves from our competitors? How are we different? How do we go to market differently? And that way we're not competing on price and we have an opportunity to grow because people see a unique value in the way we deliver our services. And then finally, Exit. As a business owner, your goal should be to profit, grow, and then exit. And we're all going to have a last day in our company, whether we want to admit it or not. The question is whether we're going out feet first or standing straight. But we all think that we're going to pick a day that we're going to retire and leave our companies, and we're going to jump on a white horse and ride off into the sunset. The reality is the day picks you, and sometimes that's good, and sometimes that's bad. And what I mean is the things that trigger our exit from the company are often unexpected. Now, I had a 10-year plan to exit my technology company. We were working through that. We had the company in very good shape at six years, such good shape that it was attractive to a very strategic buyer who had received that offer that whether I was still going to be here doing this five years from now, I would have told you, Absolutely. So I wasn't expecting that. That was a good thing. Unfortunately, there are people who come to us for help with selling their business, doing evaluation, and they come to us because they're in crisis. They've had a bad health diagnosis, they have a family crisis, or something has come up unexpected and they need to leave the company. And the worst thing that I have to do doing this consulting work is to tell somebody, under those circumstances, that your business is not worth near what you thought it was worth. And it's going to take us five years to get it there because they may not have those five years. So my goal with Encore is to never have that conversation again. So we tell business owners, We want to prepare your company for exit. We want to be doing that planning at least 5-10 years out. Oftentimes an owner tells me, Well, I don't want to do that now because I have no intention of exiting right now, and my response is perfect. That's exactly when we should be doing it. Because you always want to have the company in the best possible condition to sell that it can be in right now. And it might be better a year from now, but just in case something happens, we want it in the best possible condition that it can be in now. So that last phase, we're focusing on making sure that the business is attractive to potential buyers, even if you have no intention of selling it.

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The Core Elements to Focus on in the Profit Phase

Tim Fitzpatrick
This is awesome. You dropped a ton of good stuff there. Let's dig into each of these stages a little bit more. So with profit, what are some of the core elements that I want to be focusing on at that stage? You touched on them a little bit, but let's dig a little bit deeper.

Shawn Walsh
Absolutely. Number one, you have got to know your numbers. And not fuzzy numbers. I mean, to two or three decimal points. When I take on a new client, the first thing I ask them is, Can you tell me what your profitability is? They say, Oh, sure. I think it's around six %. Stop. So what you're telling me is you don't know what your numbers are. We're going to dive in. We're going to do a financial analysis. We're going to determine exactly what is your EBITDA? What is your net profit? What is your gross profit? What is the percentage of your revenue that goes to expenses? What is the percentage of your revenue that goes to sales salaries? What is your cost of sales? We have a whole list of metrics that we're going to dive into. We're going to figure out what are the 4-6 primary metrics that we should be using for your business, and we are going to dial those in and you are going to monitor those on a regular basis. And we are going to know exactly where your profit is and where your other metrics are to an exacting standard. The other thing we're going to do is we're going to build a budget. It amazes me how many companies work without a budget, where they write a budget and then they stick it in a drawer, and the next time they take it out of the drawer is at the end of the year and they go, Oh, yeah, we really blew that one. And you have to manage to a budget. You have to know exactly what your sales forecast for growth is, what your expenses are, and you need to monitor it every single month. If you do that, you will uncover things before they become problematic and you can adjust. There's a saying, It's a lot better to give a little bit of rudder far from the rocks than a lot of rudder close to the rocks. When there's a problem, you want to as early as possible so that you can adjust out of it with the least amount of effort. And by monitoring a budget is a very good chance that you're going to uncover financial issues before they get to be big problems.

Tim Fitzpatrick
I also think you touched on the metrics on the marketing side of things as well as the financial. There's so many different metrics. And I think a lot of business owners have a really hard time honing in on which of these metrics are actually important.

Shawn Walsh
Absolutely.

Tim Fitzpatrick
But once you identify the right metrics and it sounds like you guys share some of the similar viewpoints on this. You touched on 4-6 metrics. Man, we don't need to know everything. Keep it simple. Keep it small. Monitor what's important. And monitoring those metrics along with the budget helps you be able to make data-driven decisions and make strong decisions.

Shawn Walsh
Absolutely. One of the concepts I hear a lot is, what's the one report that you need if you were stuck on a desert island to run your company so that it would be successful? And I will tell you, my answer to that is always a budget to actual report, which is based on your PNL, and it shows, Here's what we plan to do. Here's what we actually did. And for the most part, you can run the company on that because all the information is in that report that you need to know, is your sales team doing its job? Is your service team doing its job? Are we spending too much on expenses? And you can figure that out from that report. And you can also very quickly see, month to month, if you're staying on target or if you're off target.

Tim Fitzpatrick
Yeah, I love that. Budget to actual. Because you've got your profit and loss and how that compares to what you actually budgeted for.

Shawn Walsh
Exactly. Now, the key to that is the budget has to be accurate and the sales forecast has to be accurate. But that's why we put so much emphasis on doing a budget because it becomes your GPS.

The Core Elements to Focus on in the Grow Phase

Tim Fitzpatrick
So what about the growth stage? What are the elements that we're looking at in the growth stage?

Shawn Walsh
On the growth side, we start looking at the sales engine. A lot of small businesses are based on owner-driven sales. And one of the big mistakes that companies make is thinking that the way the owner sells is the way salespeople sell. And a lot of owners think they know how to sell, but they don't really know how to sell. What they know how to do is close a warm lead because owners are very good at networking and getting referrals. And that is not the same as going out and so on. So we have to teach the owners how to manage sales properly, and we teach them the difference between owner-driven sales and building a sales team. And then we start looking at sales metrics. And it's a very simple math process. We need to figure out how many deals do we need to close a month in order to hit those targets that we put into that budget. And then to hit those sales figures, how many proposals do we have to do a month? And then how many meetings do we have to get the right number of proposals? And then how many leads do I have to have to get the right number of meetings? So it's just reverse math. That's all it is. And sales is simply a numbers game. You get enough leads, you wind up with enough meetings, you have enough meetings, you get enough proposals, you have enough proposals, you close enough deals. Now, some of those numbers are bigger or smaller, depending on your skill in those areas, and we can improve on that. But you got to have the data to start with.

Tim Fitzpatrick
How do you guys view marketing with that sales engine and the growth phase? What are your thoughts there?

Shawn Walsh
Well, marketing is getting the message out there. People have to know you before they want to reach out and talk to you. They want to have heard your name. They want to be familiar with your name. So you need to have that out there. And good marketing is also going to drive those leads. That's where you're going to be building that list that your sales people call on. Now, a lot of times I see people thinking that a good marketing engine replaces the sales engine or vice versa, and they don't. They work hand in hand. One generates the leads, the other closes them, and you've got to have both and you've got to feed both engines. You can't replace one by overfeeding the other.

Tim Fitzpatrick
Yeah, they're not. The engines, each of those engines is not going to be running as efficiently as possible if they're not working together.

Shawn Walsh
Exactly. They complement one another. They don't replace one another. So you've got to have good marketing. And the other problem I see is that I tell owners that we work with is that they don't have a marketing strategy. What they have is a random acts of marketing. And they do a campaign and then they go, Well, forget about it. That didn't work. We're not going to fund that next month. And even if your marketing is bad, consistent bad marketing is still better than inconsistent good marketing. Not that I'm not promoting for bad marketing here, but the number one issue I see in marketing with most companies is inconsistency. You've got to be consistent with your messaging, and you've got to think strategically about who you're sending your marketing message to. I tell people, when it comes to marketing, when you're a small entrepreneurial business, it makes a lot more sense to hunt with a rifle than a shotgun. And you don't want to be just blasting out a message, hoping people hear it. You want to be extremely targeted about who you deliver your messaging to. You need to know who your optimal client avatar is. You need to really dial it in and know exactly who you should be targeting. Now, in that process, yeah, sometimes you pick up people on the fringes, but you should be marketing to a very narrow audience.

Tim Fitzpatrick
Yeah, marketing is much simpler when you can narrow down who you're going to reach. The other thing, too, when you're very specific about who you intend to work with, it's much easier to create a message that's going to engage and attract those people. One of my mentors said specificity sells. The more specific we can get about who we intend to work with, the more effective our marketing is going to be. And I thank you for talking about strategy because it is near and dear to my heart. And the way I think about strategy is it's the fuel for the vehicles that you choose to use. This goes with anything. I don't care whether it's sales, marketing or something else. Strategy is that fuel, and then you're choosing the vehicles you're going to use. But a lot of people just jump to the vehicles and then they're like, Why aren't these things working? Well, you're sitting there because there's no fuel. So strategy is so, so, so important.

Shawn Walsh
Tactics without strategy is just the noise before defeat.

Tim Fitzpatrick
That's right. Sun Tse that's another really one of my favorite quotes. So at the growth phase, we're looking at really ramping up that sales engine, pulling out the owner. So it's not an owner-driven sales process.


Shawn Walsh

Absolutely.


Tim Fitzpatrick

And making sure that we have the marketing to help support that sales engine. We're getting more strategic. You touched on some really important elements there with messaging, focusing on your target market, and also talking about differentiation. I see this a ton in the managed service provider and IT space, but it is no different in any other space. So many people struggle with differentiation and really communicating that value of how they're different and why somebody should work with them. And when we're in that place, all we do is compete on price.

Shawn Walsh
Yep, absolutely. If you don't have a way to differentiate, then that's all you wind up doing, and it's a race to the basement. So I was doing a presentation for MSPs and for the IT community at ASKY, and myself and my business partner will be speaking at the ASCII conferences in 2024 for any of your watchers here who are in the IT space. We have a new book coming out that we wrote in partnership with Mike McAllowitz, and we wrote a derivative book called The Pumpkin Plan for the Managed Service Provider. And we get into this in that book because the MSPs in the IT space really struggle with differentiation. And a lot of it comes from the mindset that most of us have because we came into this industry from the engineering side, and we think of things as very black and white. And we think to differentiate, we have to have some incredibly amazing new technology or something like that. And differentiation can be incredibly subtle, and that's the part that we miss. And what happens is we go into a prospect, and we go in there and we tell them, We're going to put in this firewall. We're going to monitor your systems 24-7. We have the best staff. They only talk English, no technical speak. And the whole time, the prospect is nodding their head saying, Yeah, I agree. Yeah, I agree. And you're thinking, They're agreeing with me. I got this. And you leave that meeting pumped and you're in the car, you're doing the fist pump because you're counting the recurring revenue that you're bringing in before you get out of the parking lot. And then the next week goes by and you hear from that prospect. And the reason for that is, as you were pulling out of the parking lot doing the fist pump, the prospect was in their office looking at the other three proposals they have besides yours. And they go, Okay, well, they just said the same thing the other three people did. So therefore, I can safely go at the lowest price because you said the same exact thing. This is the problem that we have in that industry is you need to learn how to explain to your client in their terms what they do, not your terms. We talk too much like engineers and not like business people. What I have told clients for years is you need to stop having server room conversations and start having boardroom conversations. You need to understand what is important to the owner and say, This is the problem that you face that we're going to fix. They don't care about the speeds and feeds and how you fix it. And if you can present that differently, then that person is going to say, Okay, well, they said something completely different. And one thing I learned years ago was that you don't want the prospect agreeing with you. If they're agreeing with you, you're not telling them anything new. You're telling them things they've already heard before. What you want the prospect to do when you present to them is to cock their head and go, Huh, I've never thought about it that way, or, Nobody has presented it to me that way before. If they're doing that, now you got them because you've taught them something new. You've educated them, and now you're no longer competing on price because you are the person who showed up at the apple market with an orange. You've got something unique. Now you've differentiated yourself. Now you can charge a premium price for that.

Tim Fitzpatrick
Yep. You hit the nail on the head there, Sean. I think one of the easiest things for a lot of people to overlook that you just said was we need to be speaking in our ideal clients language, not our own. Such an easy thing for us to gloss over. But when we speak in their language, that's what's going to resonate with them. So thank you for sharing that.

The Pitfalls People Run into When Exiting Their Business

Tim Fitzpatrick

Let's shift gears a little bit and talk about exit. At this exit stage, I'm assuming there are many common pitfalls that business owners make. What are some of the problems pitfalls people run into here?

Shawn Walsh
A lot of times they focus solely on financial numbers. And you do need to focus on financial numbers. You need to know, just like I said at the beginning, you need to have that budget. You need to be able to be driving revenue to the bottom line. People want to buy profitable companies, but there's other factors that get involved in the valuation of the company. So we tell clients there's eight factors a buyer is going to look at, and only one of those is financial. The other thing they're going to look at is quality of revenue. Again, speaking in the IT space, MRR is way more valuable than project revenue or break fixed revenue. You want recurring revenue and you want it locked in with a multi-year contract. And that's true in any business. We're a subscription economy. People buying businesses want to see reoccurring revenue in all industries. And so you need to have a high percentage of your revenue being recurring revenue. Are you tracking client satisfaction? Can you tell me? Can you show me, can you show me as a buyer that you have happy clients who want to continue to do business with you? So you need to track that with something that is objective. And by objective, I mean a proven system. I'm not a huge fan of the three, smiley face, frowny face, neutral face. I like to see data from Net Promoter Score, NPS. That's proven, it's more granular, and I like to see a good sample size on that. The other thing is cashflow. We talk about profit, but you also have to have good cashflow. Sometimes very profitable businesses go through peaks and valleys of being cash-rich and cash-poor, and that's a difficult way to run a business because a profitable company can go out of business for lack of cash flow. So are you managing cashflow correctly? The other thing that you hit on earlier, which is probably the number one factor in selling your business, is if you are the owner, how involved are you in day-to-day operations? And really, your goal should be for that to be zero. As the owner, your goal should be to be working 100 % on the business and zero % in the business. When I went to sell my company, one of the things they wanted to talk about was an earnout. And they said, How long do you plan on sticking around? And I said, Really? Until the check clears, then I'm out of here. And they said, Well, wait a second. You must be as still involved in operations of the business. Don't we need you to keep the customers happy? And don't we need a transition period? I said, No, absolutely not. I said, I'm a politician. I said, I go around here and shake hands and kiss babies. I said, You don't need me for anything in this company to run. Now you do need my team, and you're going to need to keep those team members happy. But I am replaceable. And they had to check that during due diligence, but at the end, they said, Yeah, you're absolutely right. We don't need you around here, and we just want you to meet you. They basically scheduled a week of meetings with key clients after the deal was finalized, and I left. So that was the difference between me having to stick around and be responsible for a company that I no longer owned and having some of my compensation be subjected to how that company performed after I no longer had control of it, which can be a really tough position to be in. I knew that I couldn't be there and not be in control. It was not a good position to be in. So this was the best solution for everybody. But a company that is not dependent on the owner is significantly more valuable to an outside buyer.

Tim Fitzpatrick
Tremendously. You just touched on a ton of stuff there, which is fantastic. All super important things that I think a lot of people overlook. There's a couple of things that you touched on that I want to circle back to. One was monthly recurring or annual recurring revenue. Super important. Which falls under quality of revenue. I'm also assuming one of the things that falls under quality of revenue is how broad your revenue is based across your customer base or your client base, right?

Shawn Walsh
Absolutely.

Tim Fitzpatrick
If you have client that's driving 50 % of your top-line revenue, that's not a good place to be?

Shawn Walsh
No. As a matter of fact, one of the measures of value that we use when evaluating the company is what we call the Switzerland structure. How dependent are you on one client, one employee, or one vendor? So we want to make sure that you have vendors that are replaceable, and especially in the IT space, they're very interchangeable. But a lot of times we have a employee that holds the keys to the kingdom, and if they left, they could hold us a ransom. We want to make sure that we're cross-training our team and that we're not dependent on any one employee for knowledge that is not shared with anybody else. But you hit on the client. Having client is a problem. I just had this discussion with a company that was looking to sell, and the problem is that 30 % of their revenue is with one client. I'm like, Well, that's a huge risk to a purchaser. And typically, the threshold that starts raising eyebrows is six %. A buyer doesn't... We can go up to 10 %, but they don't want to see more than one or two between six and 10, and they want to see the majority, if not all, below six % of your revenue. haveSo you want to make sure that you're not having one client where the tail is wagging the dog. So you... And it's not uncommon in the early stages of a company to have clients that are those whale clients. But if you have that, you need to be aware of it, and you need to be selling your way out of it so that you can minimize the risk.

Tim Fitzpatrick
Yeah. Yeah. And I hope as people listen or watch this, I hope it's becoming readily apparent why you said earlier, like when we look at exit, we need to be looking 5-10 years out. It's like a... Obviously, these are not factors that we can impact overnight. It takes time. It takes planning.

Shawn Walsh
And also remember that a buyer, if they're doing proper due diligence, they're going to be looking over a three to five-year history. And we just had a situation where a client was looking to buy another company and their financials for this year look fantastic. The problem is they were losing money all the way all the time for years before. Well, did they just cook the books to make it look good so they could sell it quick? Or did they really do something to change it? If they did, we want to see that over multiple years before we're willing to invest in it.

Tim Fitzpatrick
Yeah. So what I'm hearing you say is exit planning is like a bank loan, right? It's the best time to get a bank loan is when you don't need it.

Shawn Walsh
Absolutely. People say, When should I start planning for exit? And preferably 5-10 years before. Definitely sooner than five.

Conclusion

Tim Fitzpatrick
Awesome. I love it. Thank you, Sean. You shared so many Nuggets here today. Any last-minute thoughts you want to leave us with?

Shawn Walsh
The biggest thing is it's an ongoing process. It's an iterative process. No matter how good things are going, you need to keep your foot on the gas. You need to keep watching the gages, especially in the sales process. One of the mistakes I see people doing is when they get involved in due diligence, which can be extremely time-consuming and stressful, they forget to run the business. They take their foot off the gas. And I was listening to Sully do a keynote once, and he said, When there's a crisis going on and you're busy trying to figure out the crisis, the one thing that you got to remember to do is to fly the plane. So while you got all this other stuff going on in your company, remember to fly the plane.

Tim Fitzpatrick
Where can people learn more about you?

Shawn Walsh
They can reach us at encorestrategic.io on the website. People can also reach me on LinkedIn, or they can email me at Shawn@encorestrategic.io.

Tim Fitzpatrick
Cool. We will make sure that all those links get in the show notes. Shawn, thank you again, man. I love how simple you made this for people to understand. I mean, the simpler we can make business, I think the better off we are. If this resonated with you, please reach out to Shawn. He obviously knows what the heck he's doing and can help you no matter which phase you're at and help you push through that point. So Shawn, thank you. Those of you that are watching and listening, thank you. We talked about a lot of stuff today. The stuff that really resonated with me is in my sandbox was the ideal client stuff, the messaging, which are two of the nine revenue roadblocks we help clients remove. If you want to know which of the nine are slowing down your growth, you can do that over at revenueroadblockscorecard.com. You can also always connect with us over at rialtomarketing.com. So thank you, guys. Until next time. Take care.


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About the author, Tim Fitzpatrick

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