Exitology: Unlock Your Profits, Unlock Your Potential

Hosted by IBGR onAir Talent Jason "Wally" Waldron

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175

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Feb 2025

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About the show

Exitology unlocks business potential, allowing owners to access more freedom, more profits, and a larger exit. There is no need to throw the best years of your life away, enslaved to your business. Imagine instead tripling the value of your business and achieving 8 Figures of Growth by making a few small changes over the next six months… …and then selling your business for triple what it’s worth today. What would it mean for you to: ☑ Grow your company 33% annually, without adding more costs ☑ Position your company for a lucrative sale ☑ Hand down your company as a legacy to your family ☑ Create a passive income stream with the business you already own ☑ Regain your time and freedom This is what we do for blue-collar and industrial business owners who are getting ready to sell in the next 5 years. Show Me How

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October 22, 2022Episode 113 min

S11 E1: The Dire State of Today’s Business Owner

“Happiness and freedom begin with a clear understanding of one principle. Some things are within your control. And some things are not.” EPICTETUS (Greek Stoic Philosopher) Among 40 people, only 10 people will want to exit, and only two of those will actually exit their business. 80% of them will experience profound regret. Why is this? There are a lot of reasons. We’ll talk about this a little bit more in a few minutes. What you need to know: Who Owns Businesses? Average Boomer: 67 years oldAge Range: 58-76 years old51% companies owned by Boomers43% owned by 34–54-year-old 6% owned by people under 34Boomer Core Value: Success, “Pay Your Dues / 60 Hour Work Week”Generation X Core Values: Work/Life Balance, “Work Smarter, Not Harder”Millennial Core Value: Ambition and Unfocused, asking “What’s Next” Reason’s Why Owner’s Consider An Exit: AgeMarketPandemicEconomic OutlookHealth What you need to do: First - Know you’re not alone. All business owners will exit someday. Most of them keep it a secret. You don’t have to. Next, start by simply getting informed. Keep listening to the Exitology show and we’ll go on a journey together to show you how to unlock your access to more freedom, more profits, and a larger exit without any additional work

October 22, 2022Episode 213 min

S11 E2: The Missing Piece (Purpose in 72% of Biz Owner Life)

The Colorado State Office of Economic Development and the Exit Planning institute surveyed over 400 business owners in the State of Colorado, on the State of Owner Readiness for Exit. What they found was shocking: 68% had put minimal time and attention into their exit. Even worse, it was discovered that 72% of business owners are waking up every day with NO purpose in their lives! Without a new purpose, you’ll just be a statistic upon exit. We’ve all heard the stories of “He worked his whole life and then after retiring, was dead six months later”. Most business owners are seeking a combination of retirement, legacy, family business, and freedom from their business. At the same time, studies show that out of 10 business owners who seek to exit, only 2 of them will. Further, out of those 2, nearly 80% of them will be unhappy within the 24 months after exiting their businesses. Put differently, in a room of 40 business owners who want to exit, 2 years later a single person will be left standing with a smile on his or her face. These statistics are dire. And they contribute to well founded fears such as: Fear that they won’t be able to retireFear that they won’t be able to pass the business down to their familyFear that they are going to be chained to their business forever Many clients who come to us have already tried: Bringing family up through the businessTraining their successor (who may have left)Closing themselves off to help (because they know their business the best - which is true!)Read books and courses, trying to fix problem And yet, nothing changes. It leaves them with these problems: Millions of dollars left on the table Years of living - life - gone forever because they’re trapped in the businessFamilies destroyed from workaholism or worseLegacy never achieved The cost of inaction is huge. It’s not always obvious, because temporary success is often covering a multitude of sins. It might feel like you don’t have time today, however, one day that will be true for real. You will run out of time.Bottom line: If you want to sell your business in the next 5 years, come to us and we will get it ready so you get one heck of a payday.

October 22, 2022Episode 313 min

S11 E3: The Importance of Building from Profits

The Importance of Building from Profits "It’s not how much you make; it’s how much you keep.” How much you keep is the difference between your sales and your profits.Let’s talk about maximizing your profits. Profit is a measure of how much value you’re bringing to the world. Are you serving your customers and staying on mission? Are you staying true to your people, your stakeholders (inside and outside the business)Are you growing from profits? "A company that focuses solely on profits ultimately betrays both itself and society." -Dave Packard, Cofounder of the Hewlett Packard Company In most cases there is a 3-5 year time horizonProfit is an important word = the cornerstone of your transferable valueThe Profit Gap - Profit You’re Sacrificing by Not Operating at a Best-in-Class Level80% of businesses aren’t there Best-in-Class Profit at Your Level of Sales – Your Actual Profit = Profit Gap Your value gap is the business value you’re sacrificing by not operating at a best-in-class level Best-in-Class Value at Your Level of Cash Flow – Your Actual Business Value = Value Gap How will you bridge the gap? Exitology helps you get there.

October 22, 2022Episode 413 min

S11 E4: Next Steps to Unlock Your Potential

“You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.” - R. Buckminister Fuller I’ll share proven strategies to help you build a new model that makes your current business obsolete.Ways for you to unlock your profits, and unlock your potential.Direction for you to contribute to your highest callings in business and in life. Hundreds of business owners I have talked to over the years have felt this way despite building a really great business… they feel trapped. By following these four steps, you will gain traction faster and reduce risk at the same time. Step #1: Make a commitment to yourself and to your business to continuously improve on each of the seven areas of your business, ultimately applying Exitology to your own growth.Step #2: List your objectives. Be honest with yourself about your business and its status.Step #3: Ask questions. Ask questions of yourself, your business, and any potential vendors or strategic partners you might consider bringing aboard.Step #4: Once you are confident that you’re working with honest, competent professionals who resonate with you, consider going all in for a period of time. Define your success and milestones clearly and work together to clarify outcomes and your definition of success. Consider stepping farther into your future and into the new reality you are creating. Reach out to my office and schedule a one-on-one discussion and explore whether your business is a good fit to employ Exitology.Simply send us an email at discover@exitology.com and share an insight, question or challenge that you would like feedback on.

November 9, 2022Episode 513 min

S11 E5: The Gold Panner with Jason Wally Waldron

(Let the Gold Come to You) The Gold Panner 1 out of 40 business owners will get to the promised land... Gold is a metaphor for YOUR wealth. Statistics show that owners have 80% of their net worth tied up in their business. In 1859, George Andrew Jackson discovered gold nuggets in Idaho SpringsProspectors came flooding in and soon the creeks' gold dried upSo the prospectors dug deep into the mountain to mine gold instead with picks, axes, explosives, etc.Another group worked differently - these investors, set up processing plants on the side of the rivers & enjoyed consistent profits while working smarter, not harder - The MillersThe Millers let the gold come to them Today we face a similar situation The choice is yours! You can be the miner or the miller... Both the gold miner and gold miller created a lot of value, but the gold mills are still standing, while the miners had to move on...You can create something that morphs and evolves to last 150 years.Let the Gold come to you! Build an asset! Leave a legacy The real journey begins after the spark of discovery and you transition from the gold miner to the gold miller.

January 10, 2023Episode 613 min

S11 E6: The Gold Miner with Jason Wally Waldron

(Let the Gold Come to You) The Gold Miner The past is prologue - we can learn a lot from the last 100 years of history. Are you a gold miner or a gold miller?What does it look like to be a miller in your business?How can you apply that to your Exit? Gold Panner = Traditionalists (1900-1945) Key Attribute: Very committed to the companyWork Ethic: Pay your duesView on Money: Pay cashCore Value: Take care of your family & community"Figure out which way the money flows and then make sure it flows to you. Then you can take care of your family and your community." Gold Miner = Baby Boomers (1946-1964) Key Attribute: Great ability to handle crisisWork Ethic: 60+ hour work weekView on Money: buy now pay laterCore Value: SuccessKeep digging, there's more gold! Success is just 3 feet away... Gold Miller = Generation X (1965-1980) Key Attribute: Work life balanceWork Ethic: Work smarter, not harderView on Money: Save, save, saveCore Value: How can we all achieve success, but still have a life outside of work? There's an 80% chance you'll experience 1 of the 5 Ds in the next 5 years of your business... The 5 Ds - can sneak up on you DivorceDisabilityDisagreementDisruptionDeath & Disease What would it look like for you to be a miller? How would I build up my business?

January 20, 2023Episode 713 min

S11 E7: The Gold Miller with Jason Wally Waldron

(Let the Gold Come to You) The Gold Miller The business owners who exit his/her business are the Gold Millers. They build assets & leave a legacy! What would you business look like if you let the gold come to you? Decentralizing your business is crucial to becoming a Gold MillerA business that's sellable & has transferable value is independent of its ownerOwner has a balanced life & feels fulfilled in their workThe owner has a defined personal purpose An unsellable business - Has its customer capital (or relationships with its customers) tied to the ownerThe customers have a high likelihood of terminating their relationship with the company once the owner is gone A sellable business - Customers are attracted to the brand the company has created (sales & marketing)Customers believe in the solution the company provides them Decentralize the business owner so they're independent of: Customer CapitalStructural CapitalSocial CapitalHuman Capital Can you leave for 3 weeks and the business still be fine? Fire yourself so your business is worth more...

January 25, 2023Episode 813 min

S11 E8: The Picks, The Shovels & The US Mint with Jason Wally Waldron

(Let the Gold Come to You) The Picks, The Shovels & The US Mint The story of Levi Strauss Pick and Shovel Play- an investment strategy that invests in the underlying technology needed to produce a good or a service instead of the final output. Think about who is upstream and downstream of you who would be in trouble if you went out of business. Pros & Cons of Pick and Shovel Play: +Tend to have more stable cash flow-Need to de-risk the business How can you position your company for Picks/Shovels investors?

January 25, 2023Episode 913 min

S11 E9: Hustle Mindset vs. Growth Mindset with Jason Wally Waldron

Hustle Mindset vs. Growth Mindset Statistics for business owners who want to grow their business to then exit are pretty dire... You can take steps to increase your chance of success. Is it possible to hold 2 opposing views at the same time and for both of those to be correct? "Never lower your target...Just increase your actions." -Grant Cardone = hustle"The big money is not in the buying and selling, but in the waiting." -Charlie Munger = growth Gold Miner vs Gold Miller - we need to be a little of both Flow culture is all about enrolling someone. The business owners who exit their businesses are Gold Millers. They're building assets and a legacy.

January 25, 2023Episode 1013 min

S11 E10: Tactics vs Strategy with Jason Wally Waldron

Tactics vs Strategy Are you a Miner or a Miller? Gold Miller = StrategistGold Miner = TacticianWe need them both; Growth Mindset & Hustle Mindset It's more important for you to get yourself out of your business so you can thrive even more! Business we work with reach a point of client concentration risktoo much capacity - not enough demand Q. When things aren't working like they used to... what are you missing? A. Strategy - looking into the future and consider the "what-ifs" You want to have 3 plans What if a recession hitsWhat if the status quo remains the sameWhat if a massive growth opportunity happens A competitive long-term strategy is what's required to grow in today's marketplace. What is the difference between strategy & tactics? (You need them both) “Strategy without tactics is the slowest route to victory. Tactics without strategy are the noise before defeat.” -Sun Tzu Strategy Goes back at least 2,500 yearsLooking forward & planningReflects the core values of the companySomething you can execute against3-5 year timeframeThinking work Tactics Super concrete1-3 year timeframe (very actionable)Clear purpose in alignment w/ strategyFinite TimelineSpecific activities that will be measured againstAction work Strategy work = Thinking work Tactic work = Action work They must work together for you to achieve your long term success Regularly review- What gets measured gets managed & what gets managed improves!