WHY SPEND MONEY ON PROFESSIONAL FEES?
Assembling your dream team may seem like a daunting task or an expensive one at first. However, given only 17% of business transitions are successful it is well worth the expense.
“To design and execute a great exit or transition strategy, you need to surround yourself with people who know more than you do.” Tom Bronson, Maximize Business Value
Again as said by Tom Bronson: “Exit strategy is good business strategy.” What Tom is really saying comes down to this: No one benefits from signing up for an event, spending money on the tickets and travel expenses only to miss the day of the event – the same way no business owner benefits by missing out on receiving the highest possible payout for a company they’ve dedicated so much time and energy to.
Listed below are 10 specialized roles that will optimize your business’s opportunities for growth and a successful exit:
ROLE 1: THE VALUE ADVISOR
As an essential part of your dream exit, your value advisor helps provide the foundation you will use to execute the transition. Having a value advisor who strategically quarterbacks the entire process is invaluable.
The Value Advisor offers support by:
- Working to control the pace of your transition and establishing a comprehensive plan of action.
- Providing expertise in tense situations and coaching you through the process.
- Offering strategy based on trained observation; the experienced Value Advisor will get to know your company and people and have the right words of advice at each critical juncture.
ROLE 2: THE M&A TRANSACTION ATTORNEY
Exiting is a complex subject matter; To exit successfully requires dedicated research and careful attention to current tax laws and implications. Finding a qualified M&A attorney will save you time and more than pay for itself in the resulting increase in proceeds.
The M&A Transaction Attorney offers support by:
- Acting as a negotiator and taking your personalized goals into account while working towards the best deal for your company.
- Providing clarity and support as you sign often incomprehensible legal documents and contracts.
- Aiding you by ensuring regulatory compliance and due diligence are smooth and effective processes for you and for your company.
ROLE 3: THE ESTATE PLANNING ATTORNEY
Your business exit will irreversibly affect your family. For better or for worse, the future of your legacy depends on your actions pre-transition. An Estate Planning Attorney will provide a framework for you to envision what your legacy will look like post transition.
The Estate Planning Attorney offers support by:
- Supporting you by setting up a smooth transition with minimized tax burdens.
- Providing a complete picture of your wishes and desires for the future, both personal and family related.
- Identifying successors and protecting your business’s assets.
ROLE 4: THE WEALTH ADVISOR
A fiduciary wealth advisor is imperative for a 360 degree view of your unique transition. Expressing your needs, wants, and goals is the baseline for a successful relationship with your wealth advisor. Your wealth advisor will be the link that allows you to achieve realistic goals.
The Wealth Advisor offers support by:
- Understanding and implementing your required outcomes and goals in regard to tax and financial planning.
- Strategically devising a retirement plan and helping you manage your investments.
- Building on their history of successful transitions to help you achieve the largest payout possible.
ROLE 5: THE TRANSACTION CPA
A key role in the due diligence process, your transaction CPA will be able to help you with a body of niche expertise your day-to-day CPA may not possess. This CPA will ensure you make it through due diligence with a fair valuation and speed in mind.
The Transition CPA offers support by:
- Proving accurate and by-the-book communication to all parties. Ensuring the same accurate numbers are aligned for all parties involved.
- Utilizing their history of successful transitions to get you the largest payout possible.
ROLE 6: THE INVESTMENT BANKER
The structure of your deal is often held together by your investment banker.
The ideal Investment Banker offers support by:
- Efficiently managing larger transactions where professional money is in play.
- Preparing the Confidential Information Memorandum (CIM), bringing the company to market, and assisting throughout the due diligence process.
- Aiding you in capital raise and acting as an intermediary as far as communication with potential buyers.
ROLE 7: THE BUSINESS BROKER
The Business Broker is a fee-based intermediary who will help you navigate your transaction. Business Brokers typically work on smaller transactions, usually under 10 million dollars. Offering a packaged program in most cases, the business broker can help guide you through your transaction and ensure your business is properly presented to the market.
The Business Broker offers support by:
- Helping establish your purchase agreement – from finance, due diligence, contingencies, and through your escrow.
- Strategically working through due diligence and the closing process of your deal.
- Using a predefined set of channels to shop your deal around.
ROLE 8: THE FAMILY LAW SPECIALIST
Directly handling aspects of a family related business exit, the Family Law Specialist will work closely with you to untangle you from work- related complex family situations. Equitable results for your situation can be achieved by seeking support from an expert in family law.
The Family Law Specialist offers support by:
- Providing expertise with a history of clients who may have had emotional situations or conflict involving a family held business.
- Aiding you from a legal standpoint in regard to family law.
- Acting as your guide through widely variable valuations and intermingled personal and business assets and desired outcomes.
ROLE 9: THE TRUST PROFESSIONAL
The Trust and Philanthropy Specialist is a certified professional who helps you with fiduciary responsibilities, financial advice, and trust expertise. A Trust professional will ensure your situation is optimized as they direct you towards the transition ahead.
The Trust Professional offers support by:
- Specializing in Creative Giving and Generational Planning.
- Holding Trustees responsible and advising you on the mechanics of a trust.
- Utilizing knowledge of interwoven tax strategy to help you through detailed and complicated aspects of your transition.
ROLE 10: THE ESOP ADVISOR
The Employee Stock Ownership Plan advisor helps achieve ownership diversification and retention of key team members. The ESOP is one vehicle to enable the sale of equity to the employee base.
The ESOP Advisor can:
- Help wade through the complexities of an ESOP,
- Determine if the ESOP is the proper vehicle for your situation
- Help retain key employees and provide a systematic way for the transfer of ownership to the employee base.
- Help manage the banking relationships required to set up and manage an ESOP.
Next Steps: Assembling Your Dream Team
Now that you understand the key players required for a successful business exit, it’s time to evaluate where you stand. Who’s already on your team—and who’s missing? If you’re not sure where to begin, start by completing this list to see who is missing, then follow up by talking with a Value Advisor. They can assess your current situation and help prioritize which experts to bring in first based on your goals, timeline, and needs, as well as, who to bring in from their vast referral network.
Remember, a poorly planned exit doesn’t just affect your bottom line—it can impact your legacy, your team, and your peace of mind. Surrounding yourself with the right experts is not an expense—it’s an investment in maximizing your life’s work.
This is just one aspect of getting your business future-ready. Want to know how prepared your business really is? Reach out to Dave Casey at Mastery Partners (dave@masterypartners.com) to start the conversation. Your ideal “what’s next” won’t happen by accident—it happens by design.
About Dave Casey, Certified Mastery Partner
Dave Casey is a seasoned business owner and advisor with deep expertise in organizational behavior, leadership, and operations. He’s passionate about helping business leaders solve complex problems, drive sustainable growth, and build high-performing teams. As a Certified Partner with Mastery Partners, Dave guides owners through strategic transitions that increase value and reduce dependency. Known for his insight and steady leadership, Dave brings clarity and confidence to the business growth journey.
