Today’s episode of #PoisedForExit featured Bruce Werner, author, private equity investor and family business advisor. Bruce and I met through our book publisher “Indie Books International” a couple years ago. Bruce recently published “Your Ownership Journey” that highlights his expertise in scaling your business during various stages of growth, ending the book with exit planning advice.
He spent his first 20 years in business working in his multi generational family business that eventually sold, whereby he moved on to becoming an entrepreneur once again, but this time consulting for other family businesses.
He said when it comes to working with family businesses, either you get it or you don’t. Having lived in family business situations for my entire upbringing, I know what he means. When you’ve lived it, you understand better than others that family business has its another layer of complication that requires advisers who understand and can provide the right guidance at the right time. Bruce definitely ‘gets it’.
For more tips, stories and advice from Bruce, listen here to the episode
Some of the many services he focuses on with his clients is in Governance. He says that Business Governance is part of the overall Family Business Governance strategy, but not all of it. The family business shareholder wears many hats, so it’s important to differentiate between them and the role the member has in each area. This is where many families get into trouble.
Bruce says “the most important thing about my work is that it has to have impact. If it’s not making a difference and I’m not having fun, it’s time for me to find something else to do”. Well said, Bruce. I agree!
Poised for Exit Podcast Sponsors:
Sunbelt Business Advisors
Sunbelt Business Advisors is a proud sponsor of the Poised for Exit Podcast. The Poised for Exit podcast seeks to help entrepreneurs improve, grow – and successfully exit – their businesses.
Julie Keyes, a life-time entrepreneur and founder of KeyeStrategies, understands what keeps an owner up at night and the balancing act required to work both ‘in’ and ‘on’ the business. The firm’s mission is to help business owners increase enterprise value and prepare for a future exit.
Julie believes in providing outside perspective and mentoring, which made all the difference for her while spending years growing and improving her companies before selling and becoming a business adviser in 2011.