
Episode #196
Episode 196: Exit Planning For Business Owners Using The Three-Leg Stool
A cancer diagnosis will reorder your priorities fast. I’m Greg Farrall, and after a recent prostate cancer journey, I’m grateful to say I’m cancer-free. That news is exactly why I open with a reminder that sounds simple but gets ignored: if you don’t have your health, what good is your wealth? I also share the practical side of what helped catch it early, including tracking PSA levels over time and paying attention to the trend rather than a single number. From there, we pivot to launching a new exit planning series for business owners, based on what I learned while earning my Certified Exit Planning Advisor (CEPA) credential through the Exit Planning Institute. The core idea is the one that changes how you run a company day-to-day: you are always selling your business. We talk about building toward an exit using 90-day sprints, how to keep culture and systems aligned, and why planning early gives you more options whether you exit to family, a strategic buyer, private equity, or an ESOP. We also get honest about what happens after the check clears. A huge number of owners feel profound regret after selling, often because their identity is wrapped up in the business. That’s where the “three legs of the stool” come in: business, financial, and personal planning. We dig into transferable value, business valuation, retirement planning, the wealth gap, and personal planning basics like estate planning, key person insurance, buy-sell agreements, and risk coverage that can make your company more attractive and your life more stable. Subscribe, share the show with a business owner who needs an exit strategy, and leave a review so more people can find these conversations. Securities and advisory services offered through LPL Financial, a registered investment advisor. Member FINRA/SIPC. The opinions voiced in this podcast are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which strategies or investments may suit you, consult the appropriate qualified professional before deciding.

