Finish Big 1.0 w/ Mark Dorman

Pivoting as a Business Owner With Craig Sturgill Ep. 43 - S1

In the realm of exit plans, things don't always go as planned. Sometimes they happen smoothly the first time, other times they face delays. But that's the thing: there's no one right way. Each exit is its own journey, with its own ups and downs. Join Mark Doman as he sits down with Craig Sturgill, COO, and Co-founder of Excel™, a company at the forefront of the InsureTech space. Craig, a U.S. Army veteran and successful entrepreneur, shares his journey from starting an insurance agency at 18 to co-founding Excel™. Follow along to learn about the challenges and strategic pivots he made, including an unsuccessful exit attempt, recalibration for growth, and the importance of surrounding yourself with the right people in order to execute a successful exit. Mark and Craig discuss: * Craig's journey from door-knocking insurance sales to co-founding an InsureTech company * How his business model shifted toward digital customer acquisition * Insights into the InsureTech space and Excel's innovative lead-generation strategies * Valuable lessons learned from an attempted business exit and how diversification and a strong leadership team can make all the difference * And more Resources: * Finish Big: How Great Entrepreneurs Exit Their Companies on Top by Bo Burlingham [https://www.amazon.ca/Finish-Big-Great-Entrepreneurs-Companies/dp/1591844975] * Medigap.com [https://www.medigap.com/] * BurialInsurance.com [https://burialinsurance.com/] Connect with Mark Dorman: * Succession Plus US [https://succession.plus/us/] * LinkedIn: Mark Dorman [https://www.linkedin.com/in/markjdorman/] * LinkedIn: Succession Plus [https://www.linkedin.com/company/succession-plus-usa/] * Facebook: Succession Plus [https://www.facebook.com/profile.php?id=61556260959516] * (330)-416-9271 * mdorman@succession.plus [mdorman@succession.plus] Connect with Craig Sturgill: * LinkedIn: Craig Sturgill [https://www.linkedin.com/in/craigsturgill/] * CraigSturgill.com [https://craigsturgill.com/] * Excel.com [https://excelimpact.com/] About Our Guest: At the age of 18, Craig Sturgill founded his first business. He built his Medicare-focused insurance agency, however, he was unable to find lead-generating vendors that met his standards for quality and high performance so in 2013 he partnered with 2 like-minded individuals to found Excel™ which he now acts as COO. He has since started multiple other businesses such as TruRidge, LLC and Stealth Ventures, LLC.

Exploring Opportunities Through SBA Lending With Tara Murphy Ep. 42 - S1

Many believe that SBA loans are only for startups or fraught with bureaucratic red tape. However, this week's guest, Tara Murphy debunks these myths, demonstrating the power of SBA lending in aiding successful business exits and transitions. Join Mark Doman and Tara Murphy, SBA Business Development Officer and Vice President of Huntington National Bank as they delve into SBA lending. They unveil how they work, changes that have happened to the process, and how they can be a powerful tool in your exit planning strategy. Whether you're contemplating selling your business or simply curious about the options available for a future transition, this episode is packed with insights and practical guidance to help you lead your business down the right path even after you leave. Mark and Tara discuss: * What SBA lending is and how it works * How business owners can leverage SBA loans for exit planning * The impact of careful succession planning on the value and saleability of a business * Common myths about SBA lending and how to utilize it effectively * And more Resources: * Finish Big: How Great Entrepreneurs Exit Their Companies on Top by Bo Burlingham [https://www.amazon.ca/Finish-Big-Great-Entrepreneurs-Companies/dp/1591844975] * What's the Value of Your Business? With Michael Carter [https://finish-big-the-podcast.blubrry.net/2023/07/11/whats-the-value-of-your-business-with-michael-carter-founder-and-ceo-of-bizequity-ep-16/] Connect with Mark Dorman: * Succession Plus US [https://succession.plus/us/] * LinkedIn: Mark Dorman [https://www.linkedin.com/in/markjdorman/] * LinkedIn: Succession Plus [https://www.linkedin.com/company/succession-plus-usa/] * Facebook: Succession Plus [https://www.facebook.com/profile.php?id=61556260959516] * (330)-416-9271 * mdorman@succession.plus [mdorman@succession.plus] Connect with Tara Murphy: * LinkedIn: Tara Murphy [https://www.linkedin.com/in/tara-murphy-a3b4189/] * Huntington National Bank: Tara Murphy [https://www.huntington.com/SmallBusiness/loans/find-an-sba-specialist/murphy-tara] About Our Guest: Tara Murphy is the SBA Business Development Officer and VP at Huntington National Bank with over 20 years in the finance industry. She possesses a strong focus on M&A financing and small business succession planning. Additionally, Tara brings years of experience in business expansion, commercial real estate, and debt consolidation to her role. She boasts a proven track record of success and harbors a deep passion for small businesses.

Packing the Parachute: Navigating Exit and Succession Planning with Jim Erben Ep. 41 - S1

Are you ready to secure your legacy and ensure your business thrives beyond your exit? In this enlightening episode, Mark Dorman is joined by Jim Erben, president of Erben Associates and a sought-after exit and succession planning specialist. Together, they delve into the crucial, yet often daunting, process of planning for business exit and succession. Tune in for invaluable strategies and actionable insights on how to prepare for a smooth transition. Jim discusses: * Why business valuation is a crucial starting point in planning your exit * The importance of aligning your business exit strategy with your personal wealth and estate planning * Keys to a successful executive retention plan * Contingency planning in case something unexpected happens to the business owner * What makes Erben Associates different from other firms * And more Resources: * Finish Big: How Great Entrepreneurs Exit Their Companies on Top by Bo Burlingham [https://www.amazon.ca/Finish-Big-Great-Entrepreneurs-Companies/dp/1591844975] * BizEquity [https://www.bizequity.com/] Connect with Mark Dorman: * Succession Plus US [https://succession.plus/us/] * LinkedIn: Mark Dorman [https://www.linkedin.com/in/markjdorman/] * LinkedIn: Succession Plus [https://www.linkedin.com/company/succession-plus-usa/] * Facebook: Succession Plus [https://www.facebook.com/profile.php?id=61556260959516] * (330)-416-9271 * mdorman@succession.plus [mdorman@succession.plus] Connect with Jim Erben: * 512-402-0250 * LinkedIn: Jim Erben [https://www.linkedin.com/in/jim-erben-454582/] * Erben Associates [https://erbenassociates.com/] About Our Guest: Jim Erben is a highly sought-after exit and succession specialist, keynote speaker, and President at Erben Associates. Under his leadership, Erben Associates earned a spot multiple years running on the INC. 5000 list for one of the fastest-growing companies in the country and is a highly sought-after exit and succession planning firm. As an international speaker, Jim shares his 30+ years of experience with thousands of business leaders annually. He is well-known for his straightforward approach to succession or exit planning, business continuity, and executive retention. A distinguished advisor to clients and organizations, Jim is one of 500 senior American business leaders representing the private sector in Business Executives for National Security, an invitation-only think tank to help our national security become more efficient and effective. Jim's proprietary process helps business owners navigate the complexities of succession and exit planning to help create an everlasting legacy.

De-Risking Your Business: Jim Doyle on Partial Sales and Full Exits Ep. 40 - S1

Many entrepreneurs start their exit journey with a partial sale to de-risk from a substantial portion of their wealth being tied up in the business. Doing so sets them up for an eventual full exit. In this episode, Mark Dorman speaks with Jim Doyle, who founded and sold Jim Doyle and Associates (now JDA.Media). Jim shares his experience of navigating ESOPs (employee stock ownership plans) and eventually selling his business to a strategic buyer. Jim discusses: * The process of making his business "sellable" * How the ESOP helped his employees develop an ownership mindset, enhancing the company culture * Leveraging consultants, mastermind groups, and new executive leadership in the firm * The emotional side of exiting a business (and how he dealt with it) * Why you should always be thinking about "What's next?" * And more Resources: * Finish Big: How Great Entrepreneurs Exit Their Companies on Top by Bo Burlingham [https://www.amazon.ca/Finish-Big-Great-Entrepreneurs-Companies/dp/1591844975] * Selling with a Servant Heart: Ten Lessons on the Path to Joy and Increased Income by Jim Doyle [https://www.amazon.com/Selling-Servant-Heart-Lessons-Increased/dp/1637551037/ref=tmm_hrd_swatch_0?_encoding=UTF8&dib_tag=se&dib=eyJ2IjoiMSJ9.8VBTigSnihbDIOLX_dV4RohsJmstid6JS5STM35wpjl1WFSgu3A8Jh1HPO2wy50WlsDOhBndUzQ0LkvtdE1qrXSjJOh_ZFQD3uHoJCQH8BIezEE-DsqSiYaxcdbg-U9_5o1Vz9RjVCFpzX5tY_5vPLSySeJRyo7VY-hgIiNVpf4yAhCLXEaaOYnl6RQd4_igPLQ4ya89c0MPr7AnF8l0EYOK1LyJO6oiUFKZq6kHf-0.J60vnmKvdQeDS3HSnmOif-wCjMD1ajLAxZRclkLo9_k&qid=1716033593&sr=8-1] * Trapped in the Family Business, Second Edition: A Practical Guide to Uncovering and Managing This Hidden Dilemma by Dr. Michael Klein [https://www.amazon.com/Trapped-Family-Business-Second-Uncovering/dp/0984949216/ref=tmm_pap_swatch_0?_encoding=UTF8&dib_tag=se&dib=eyJ2IjoiMSJ9.Fwu9FfuPV6B-5-klUO6bumtDCAySUPXLoyesNYjL-tMuIGQeM7KRNzbkPvkv5kiZk-Mg-Vv9SPHERtB99w8mlQVxeie4LinrUOJl2rBxwvwob6WF48_V1wOcTnXV2m1J3EkkHzKOlJcTmb74WUjM6bEA50XkIBbaLTZjyok23yn8JrsEmzWNjDBp5KsbAZAH19NzznJzIaq2WO4lU-DuXNn6ey-3J5UDu9mKQmHOrPE.qm0FhMHjTXGm-dpYyNWwKev76dR4DW2yYVM34CssdSQ&qid=1716035118&sr=8-1] Connect with Mark Dorman: * Succession Plus US [https://succession.plus/us/] * LinkedIn: Mark Dorman [https://www.linkedin.com/in/markjdorman/] * LinkedIn: Succession Plus [https://www.linkedin.com/company/succession-plus-usa/] * Facebook: Succession Plus [https://www.facebook.com/profile.php?id=61556260959516] * (330)-416-9271 * mdorman@succession.plus [mdorman@succession.plus] Connect with Jim Doyle: * LinkedIn: Jim Doyle [https://www.linkedin.com/in/tvjimdoyle/] * JDA.Media [https://jda.media/] About Our Guest: Jim Doyle loves sales, and he loves salespeople. He's been selling and leading salespeople for almost fifty years. In 1991, he founded Jim Doyle and Associates, which is now the leading training and revenue development company in the Television and digital advertising business. During his 30 years with JDA, Jim presented workshops on sales and marketing to audiences all over the United States. Jim stepped away from the day-to-day leadership of what is now called JDA.media in 2020. But he's quick to say he is a long way from being retired. He is still frequently speaking to salespeople and leaders about the principles in his new book, Selling with a Servant Heart.

Professional Management and Business Legacy with Joni Fedders Ep. 39 - S1

Are you ready to transform the way you run your business? Today on the Finish Big Podcast, Mark Doman introduces Joni Fedders, President of Aileron, and explores the unique nonprofit organization based in Dayton, Ohio. Together they explore how Aileron helps business owners and their teams embrace professional management to elevate their lives and organizations. Follow along to hear Joni's passion for professional management, and how it empowers businesses and their owners to articulate a vision, align their organization towards it, and successfully navigate ownership transitions. Joni discusses: * The importance of having an exit plan and how it affects the future success of your business * Aileron's DOC System of professional management and its impact on business success * The challenges of creating a thriving business and navigating transitions * How Aileron supports business owners in different ways to achieve long-term success * Aileron's mission and involvement in the community * And more Resources: * Finish Big: How Great Entrepreneurs Exit Their Companies on Top by Bo Burlingham [https://www.amazon.ca/Finish-Big-Great-Entrepreneurs-Companies/dp/1591844975] * Run Your Business, Don't Let It Run You by Clay Mathile [https://a.co/d/4nH9Vyr] Connect with Mark Dorman: * Succession Plus US [https://succession.plus/us/] * LinkedIn: Mark Dorman [https://www.linkedin.com/in/markjdorman/] * LinkedIn: Succession Plus [https://www.linkedin.com/company/succession-plus-usa/] * Facebook: Succession Plus [https://www.facebook.com/profile.php?id=61556260959516] * (330)-416-9271 * mdorman@succession.plus [mdorman@succession.plus] Connect with Joni Fedders: * Aileron.org [http://aileron.org/] * LinkedIn Joni Fedders [https://www.linkedin.com/in/jonifedders/] * (937) 669-6507 About Our Guest: Joni Fedders is the President of Aileron, a nonprofit organization that helps business owners and their teams embrace professional management to elevate their people and organization. Joni directs strategic vision, culture, and operations, inspiring both the team and the community to elevate private businesses. Recipient of the "Forty Under Forty" award, Joni holds a business bachelor's from Miami University and an MBA from Xavier University. With her husband Jim, she values family time, her dogs, and enjoys skiing, tubing, running, fishing, sports, and vacations with their three children.