In this episode of NextGen Industrialists #podcast host Belinda Ephraim speaks with Jenn McCabe, a partner at Armanino LLP, exploring the parallels between #skydiving #sellingabusiness and #mergersandacquisitions
Jenn shares her journey from being a national skydiving champion to a seasoned financial expert and post-exit founder, emphasizing the importance of #riskmanagement, networking, decision-making under pressure, and meticulous preparation in both fields.
TAKEAWAYS
Skydiving teaches valuable lessons about risk management
Hard work and networking are crucial for success
Fear can hinder decision-making in business
Know your number before considering an #exitstrategy
Preparation is essential for successful M&A deals
Having a backup plan is critical in business
Building a sellable business requires investment in training and #technology
Networking is vital for finding potential buyers; your investment banker can facilitate this
#industrialautomation can significantly impact business valuation
#cashflow management is vital for business sustainability
Quality of Earnings reports are crucial for accurate #valuation
CHAPTERS
00:00 Introduction to the Podcast and Guest
02:20 Jenn's Journey: From Skydiving to M&A
14:26 The Psychology of Skydiving and Business
30:02 Planning for Success: The Importance of Preparation
35:04 Building a Strong Business Foundation
38:18 Understanding Your Value and Exit Strategy
41:36 The Importance of Advisory Teams
45:47 Networking as a Strategic Tool
51:31 Cash Flow Management and Its Impact
01:05:37 Quality of Earnings: Ensuring Accurate Valuation
01:10:00 Building Trust in Business Transactions
01:11:39 The Role of Technology in Business Transformation
01:13:36 Navigating Technology Investments for Growth
01:15:58 The Importance of Proper Technology Implementation
01:17:28 Valuation Impact of Technology in M&A
01:20:09 Communicating Change to Clients During Transitions
01:21:36 Cultural Integration Post-Acquisition
01:24:52 Emotional Challenges After Selling a Business
01:27:11 The Need for Post-Exit Support
01:30:02 Finding New Purpose After Selling
01:32:28 Advice for Future Entrepreneurs
01:35:36 Courage and Risk in Entrepreneurship
01:38:23 The American Entrepreneurial Spirit
01:39:50 Leaving a Lasting Legacy
01:41:43 Defining the NextGen Industrialist
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