The ‘Built to Exit’ Accelerator
Three Months to an Exit Plan
Six Virtual, 90-minute to two-hour Sessions
Mentor: Promise Phelon
Co-mentor: Elizabeth “Liz” Caracciolo
Special Co-mentor: Steven Latasa-Nicks
WarriorX is for owners of companies with growing revenues and in business for at least three years, and a keen interest in preparing for an exit within the next 18-24 months. We are not bankers and have NO interest in selling your company. We will, however, help you build a thoughtful strategy and establish the key relationships you need to exit your company with confidence, or to “run it ready” for the right opportunity.
In this Mastermind, for six sessions over three months, receive mentorship from two serial entrepreneurs and exit’ers. Each power-packed session lasts 90-minutes to two hours. At the end of the Accelerator, have clarity on WHY, approximately WHEN, and your options for HOW to exit. Also, develop and deliver a Business Overview Presentation you can share with bankers, investors, your Board of Directors … or even your spouse.
Guest mentors include entrepreneurs who’ve exited through multiple methods, investment bankers, and finance and legal professionals. Again, we are not business brokers. We are former operators with experience buying and selling companies in the following industries: technology, hardware, tech-enabled services, professional business services and consulting, financial services, and billing and fintech, as well as companies using on-premises, e-commerce, and software-as-a-service (SaaS) business models.
Registration Begins: April 1, 2019
Next Session Stars: April 16, 2019
Cohort Size: 12
Meeting Schedule: Every 2 Weeks
1) Meeting of the Minds and ‘Built to Exit’ Intro. This session begins with a ‘Built to Exit’ presentation by Promise Phelon, followed by a two-part roundtable facilitated by Liz Caracciolo on “what’s your why.” Identify the drivers of your exit and refine your thesis around the core value in your business, or its number one value lever. Knowing ‘why’ and the qualitative and quantitative levers is essential to understanding who will be interested in your business and why. Isolate what’s driving you to want to take your next steps, and be able to articulate those drivers in a way decipherable by the outside world.
2) Buyer Perspectives and Shared Narratives. Timing, awareness, relationships and match between buyer and seller objectives drive deals; these elements are critical to any potential exit scenario. We begin with groups and types of buyers, and how to uncover your buyers’ interests. Explore buyer types: strategic, private equity firm, employees, venture capital, public markets. Go deep into how to focus on buyers’ current business realities, potential theses and drivers, and then shape a shared narrative. The goal is to have productive dialogs with your prospective buyer universes to assess where your business might fit with theirs, why a buy makes sense, and the urgency of that objective.
3) The Current State: Market and Business Landscape Assessment. Using a SWOT format and other tools, we assess the current state of your business across essential buying criteria: customers, cash, revenue, culture/team, succession, and more. Together, we translate and map your differentiation—your moat—to your competitors using a simple Harvey Balls Exercise, and then identify buyer categories interested in your value. At the end of this session, clearly understand your business from an objective perspective, see your strategic gaps, know which competitors are alternatives to your company, and how you compare from a buyer point of view.
4) Business Risk, Due-diligence and Integration. We go deep into possible areas of exposure in your business by reviewing Corporate Hygiene and identifying weak spots, and then recommend next steps. We provide a buyer’s point of view on how diligence works, and hot buttons and red flags that slow or minimize your chances of an exit. You then develop a plan to articulate, quantify and/or ameliorate those challenges.
5) Your Compelling Narrative, A Working Meeting: This session, we give you a framework for codifying and documenting the chapters of your business’ story. We look at your draft, and guide you to develop your Business Overview Presentation, a confidential document you can share with key constituents. Translate what you know about the market, the buyer, the competitive landscape and what makes you unique into a cohesive story you can present to prospective buyers, bankers and internal stakeholders.
6) Road Test. Using groups and buddy-teams, and working with your mentors, complete your “Built to Exit” plan and turn it into a presentation that captures your end-to-end narrative. With a refined presentation in hand, get feedback from corporate buyers, investment bankers with both buy- and sell-side experience, as well as other entrepreneurs who’ve been through the entire process.
Expect real-world examples, frameworks and tools.
At the end of WarriorX, you will know your why, your when, for whom, and how. After the Accelerator, you will either run your business ready, decide your company is too awesome to sell and start running it differently, or move aggressively down the path to transition. Do the work. Have fun. And be built to exit with power and confidence.
Meetings are 100% virtual, 100% confidential. Get access to a private Slack Channel for ongoing insight sharing and collaboration.
This format is for warriors—leaders who want a serious strategic advantage and to work with passionate, like-minded individuals. You don’t have to be perfect. Our mission is to help people like you experience breakthroughs. We over-deliver, work hard, and are committed to your success. We start each meeting 2-5 minutes early, and show deference and respects to peers and mentors. Members run non-competing companies. (Yes, we screen.)