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2008 ANNUAL EXIT PLANNING CONFERENCE
AUGUST 15-16, 2008
THE INVERNESS HOTEL AND CONFERENCE CENTER
DENVER, COLORADO
Conference Schedule
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Wednesday Aug 13
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Thursday Aug 14
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Friday Aug 15
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Saturday Aug 16
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7:30 a.m. – 5 p.m.
Boot Camp for Advisors™
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7:30 a.m. – 2 p.m.
Boot Camp for Advisors™
8 a.m. – 12 p.m. Annual Golf Tournament
1 p.m. – 4 p.m. Practice Group Meetings
5 p.m. – 7 p.m. Welcome Reception
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7:30 a.m. – 5 p.m.
BEI’s 2008 Annual Exit Planning Conference
5 p.m. – 8 p.m.
Reception
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7:30 a.m. – 4 p.m.
BEI’s 2008 Annual Exit Planning Conference
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Conference Schedule
Wednesday and Thursday – August 13 and 14, 2008
Boot Camp for Advisors™
Thursday, August 14, 2007
Friday, August 15, 2007
| Session Time |
Session Type |
| 7 a.m. – 8 a.m. |
Registration and Continental Breakfast |
| 8 a.m. – 9 a.m. |
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General Session: BEI’s State of the Union
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John Brown, BEI’s president, will begin the 2008 Annual Exit Planning Conference: Reaching New
Heights of Exit Planning Success with this keynote presentation. John will provide organization
highlights from the previous year, as well as map the future direction of BEI and upcoming Member
rollouts in the annual State of BEI presentation.
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| 9 a.m. – 9:15 a.m. |
Break |
| 9:15 a.m. – 10:45 a.m. |
| General Session: Helping Your Clients Win the War for Talent |
2008 marks the beginning wave of Baby Boomer retirement and it also begins what experts are calling,
“The War for Talent” – a perfect storm of factors that will create a 20-year shortage of skilled workers
to replace them. Company owners are arming up for this coming war, and they’re looking for proven practices to
enhance value by snagging scarce talent. What advice and counsel will you give your clients to help them wage war
for this precious commodity? Mike Maynard will be returning again this year to the 2008 Annual Exit Planning
Conference to present this interactive general session, which will discuss the ten leading best practices for
acquiring and retaining talent, as well as look at case studies of leading companies to learn how they out-gun
their competition and get the best people.
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| 10:45 a.m. – 11 a.m. |
Break |
| 11 a.m. – Noon |
| Advanced Technical Breakout: Valuing Personal Goodwill in Sale Transactions |
Most practitioners are aware that substantial tax savings are possible if a portion
of the acquisition price for a business can be attributed to the owner of the business
for personal goodwill. This advanced technical session will provide an in-depth
discussion on defining personal goodwill and, more importantly, how to determine
its value. Using well-known and influential case studies such as the Martin Ice
Cream case study, this session also will look at goodwill strategies that can be
beneficial to your business owner clients.
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| Basic Technical Breakout: Exit Planning and Charity |
Many business owners have philanthropic objectives that they would like included in their overall
Exit Plan. This technical session will provide an overview of how to approach the creation of such
plans, as well as introduce the concepts of Charitable Remainder Annuity Trusts (CRATs).
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| Marketing Breakout: Personality Selling |
Because we all think, listen and process information in our own unique ways, selling to different
people and personalities requires us to change the way we present our ideas. By tapping into some
easy-to-learn techniques of relating to the client’s individual needs, wants and wishes, we can
raise our sales and improve our profits. This interactive session will give you the tools to
recognize and connect with the four major personality styles, as well as make selling easier and a \
pleasant experience for all parties.
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| Noon – 1:15 p.m. |
Lunch |
| 1:15 p.m. – 2:15 p.m. |
| Advanced Technical Breakout: Family Business Consulting |
Family businesses are ubiquitous. Some are mom and pop shops and some are multibillion dollar
enterprises. Each has its own set of intertwined business, ownership and family issues. Many of
these issues turn themselves into exit and succession planning obstacles and terminators. This
comprehensive session will discuss how Exit Planning practitioners can accomplish their advisory
goals, while the family navigates the behavioral and emotional realities of family-owned businesses.
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| Basic Technical Breakout: The Role of a Business Coach in Exit Planning |
Establishing business continuity and building business value are integral components for
structuring a business exit. Business Coaches have grown in prominence and usage over the years in
helping businesses in these areas and positioning a business for sale. This session will provide
insight into how Business Coaches can be a valuable member of an owner’s Exit Planning advisory team
and when it is appropriate in the process to bring them onboard.
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| Marketing Breakout: Branding Your Exit Planning Practice |
Building a strong brand is an ongoing activity that is reliant on consistent messaging and
delivery. It also is important to build your brand with both online and print initiatives. By
complementing both mediums, you not only are able to reach a broader audience, but you also are
able to easily increase your touch points with potential clients. This session will discuss the
importance of aligning all of your marketing material with your firm’s top three key messages.
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| 2:15 p.m. – 2:30 p.m. |
Break |
| 2:30 p.m. – 3:45 p.m. |
| General Session: Small Business Economic and Financial Outlook |
With millions of owners transferring out of their businesses in the next 10 years, the marketplace
for closely held businesses will be in flux over the next decade. This timely general session will
look at the impact of economic conditions on small businesses during this time period and the market
for owners looking to exit their businesses. Attendees also will gain insight into how to approach
planning for their business owner clients in a changing economy.
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| 3:45 p.m. – 4 p.m. |
Break |
| 4 p.m. – 5 p.m. |
| Advanced Technical Breakout: Financial/Insurance Advisor Panel |
The nature of Exit Planning solicits a multi-disciplinary approach with advisors working together
as a team to meet an owner’s overall exit objectives. Designed around real Exit Planning cases from
BEI Members in the financial/insurance professions, this panel will address the roles and
responsibilities of the Financial/Insurance Advisor in the Exit Planning Process and how Members
in other practice areas can leverage these professionals’ expertise and networking ability
throughout the process, when appropriate.
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| Basic Technical Breakout: Transaction Intermediary Panel |
A seasoned Transaction Intermediary can be an asset to your clients’ Exit Planning Advisory Team
when they are selling their businesses to a third party. This panel will highlight how to identify,
approach and develop a strategic relationship with a reputable Transaction Intermediary. Panelists
who know this market best also will offer differing perspectives by highlighting real-world case
studies that will discuss the role of a Transaction Intermediary in the Exit Planning Process, fee
structuring and when it is appropriate to introduce a Transaction Intermediary into the process.
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Marketing Breakout: Establishing Your Thought Leadership through Regional and
National Association Speaking Engagements
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Many BEI Members have found associations to be effective marketing venues. These firms have
determined how to identify the best business owner associations and effectively attract clients
through association speaking engagements. Presented by two seasoned BEI Members who have realized
great success by speaking to both regional and national associations, this session will provide
inside tips and techniques for getting the most out of your association marketing efforts and
establishing you as the thought leader and Exit Planning expert in your community.
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| 5 p.m. – 8 p.m. |
Evening Cocktail Reception |
Saturday, August 16, 2007
| Session Time |
Session Type |
| 7 a.m. – 8 a.m. |
Registration and Continental Breakfast |
| 8 a.m. – 9:15 a.m. |
| General Session: Converting Your Practice into an Exit Planning Business: Value-Based Pricing |
Ronald J. Baker, the leader of the Value Pricing Revolution and author of the Professional’s
Guide to Value Pricing, Sixth Edition, will kick off the second day of the 2008
Annual Exit Planning Conference by providing insight on alternatives to pricing
your services based on client-perceived value, rather than hours spent on a deal.
By learning to avoid the deleterious consequences of hourly billing, you will communicate
better with clients, be able to discover their expectations up-front, remove surprises
from their invoices, involve them in establishing the scope and value of your services,
speed-up accounts receivable collection, enhance loyalty and retention, and increase
your profitability. The major topics of this general session will include:
- The Importance of Pricing Before Work is Done
- Negotiating the Fixed Price Agreement
- When to use Change Orders
- What and How People Buy
- The Importance of Bundling your Services
- Offering Unlimited Access, a Service Guarantee and a Price Guarantee
- Overcoming Price Psychology
- Questions to Ask Before Setting a Price
- The Necessity of Appointing a Chief Value Officer and Pricing Cartel in your Firm
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| 9:15 a.m. – 9:30 a.m. |
Break |
| 9:30 a.m. – 10:30 a.m. |
| Advanced Technical Breakout: Creating Value for Departing Owners’ Businesses |
A certified valuation is an integral part of an overall Exit Plan in order for your business owner
clients to reap all of the value of their life’s work. This case studies-based session will discuss
the importance of establishing low value for Exit Planning purposes and what attributes can support
a low value. This session also will discuss the multi-step process of performing a typical valuation
engagement and what strategic alliance opportunities are available from working with CPAs throughout
the Exit Planning Process.
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| Basic Technical Breakout: Preparing a Business for a Transfer to Insiders: Bank Expectations and Role in the Process |
With bank financing playing an integral role in many sale to insiders Exit Plan scenarios, this
session will provide insight into the qualitative requirements (management skills, industry
forecasts, etc.) that banks typically have, as well as the quantitative elements (cash flow,
debt levels, trends, net equity value) that banks will evaluate for deals of this nature. This
session also will include a checklist for preparing for a future sale to insiders using bank
financing.
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| Marketing Breakout: Converting Your Practice into an Exit Planning Business: Value-Based Billing |
A spin-off from the earlier general session, this interactive marketing breakout session will
provide a more in-depth look at techniques for advisors to move away for the hourly billing method
to achieve a competitive differentiation. This hands-on session will show you how to create a
pricing model based on your firm’s specific structure.
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| 10:30 a.m. – 10:45 a.m. |
Break |
| 10:45 a.m. – 11 a.m. |
| Advanced Technical Breakout: The Uses, Benefits and Pitfalls of ESOPs |
Employee Stock Ownership Plans (ESOPs) can help business owners achieve a number of important
Exit Planning goals – namely, selling a business tax-free to employees for full market value.
This case study-driven session will discuss the details associated with advanced ESOP strategies,
as well as identify circumstances in which your Exit Planning clients might find them to be a useful
planning strategy. This session also will provide tools for leading your clients through the ESOP
analysis and implementation phase.
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| Basic Technical Breakout: Buy-Sell Agreements: Nine Traps for the Unwary |
All Exit Planning Advisors will encounter co-owned businesses that are in need of new or updated
buy-sell agreements. To provide value to your clients in this area, you will want to be aware of
the problems and pitfalls that you may encounter when reviewing existing buy-sell agreements or
helping to design new ones. A panel of three BEI attorney members will discuss a checklist of
business, tax and litigation issues that you can spot and/or avoid, and you do not have to be an
attorney to do so.
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| Marketing Breakout: The Six Spokes of Marketing |
Marketing is an umbrella term that encompasses six separate and distinct elements: Market Research,
Advertising, Public Relations, Promotions, Sales and Customer Service. An exceptional marketing
program is critical if your practice wants to recruit the best clients. This fast-paced session
will give you powerful tools to determine who your clients are and what they really want. Without
the proper emphasis, your wheel may begin to wobble. Balance your marketing wheel and watch your
profits soar.
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| 11:45 a.m. – 1 p.m. |
Lunch |
| 1 p.m. – 2 p.m. |
| Advanced Technical Session: EPIC™ Plan Designs: Case Studies |
Based on real-world Fact Finder results and business owner road maps, this in-depth
EPIC™ session will discuss fact patterns, common planning issues and EPICtrade; resources.
Attendees also will share ideas with each other in an open discussion regarding
strategies to recommend in certain planning scenarios.
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| Basic Technical Session: Minimizing Taxes in Designing the Sale of a Business |
This informative session will address the top tax planning techniques for reducing
taxes on the sale of a business to an outside buyer or key employee group. The program
will provide practical illustrations for an Exit Planning Professional to use both
when developing and implementing an Exit Plan.
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| Marketing Breakout Session: The Importance of Honing Good Listening Skills in the Pre-Engagement Stage to Open Doors for Exit Planning Opportunities |
Since each owner’s unique Exit Objectives drive the creation of an Exit Plan, it is essential for
advisors to achieve clarity in regard to owner objectives/values early on in the process. This
session will discuss strategies for asking probing questions in the pre-engagement stage that will
uncover what owners really want involved in their exit. The session also will provide examples of
how to understand the Exit Planning Process from the owner’s perspective, which will provide
valuable insight into how to approach and engage business owner clients with Exit Planning.
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| 2 p.m. – 2:15 p.m. |
Break |
| 2:15 p.m. – 3:30 p.m. |
| General Session: Business Owner Panel: Life After the Sale |
Business owners will share their experiences about what life after the implementation of an
Exit Plan looks like. These living case studies will give advisors good insight into what goes
through an owner’s mind before, during and after the exit from the business.
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| 3:30 p.m. – 4 p.m. |
Closing Session |
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“The technical and marketing presentations were excellent. The opportunity to network with all the other members face-to-face is the biggest
benefit and can only be achieved at a conference like this.”
–Hank James, WealthTrax™
2007 Conference Attendee
“The interaction with other advisors was paramount. This allowed me to see, first hand, that the system works, is being used effectively in
different disciplines and has given me the information to confidently move forward in building out my Exit Planning practice.”
–Michael J. Fleischhauer, CFP®, BB&T Wealth Management
2007 Conference Attendee
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