39. Creating An Exit Strategy With Russ Sky & Andy

In episode 39 of the Professional Builders Secrets podcast, we’re joined by Co-founders of the Association of Professional Builders Russ Stephens and Sky Stephens, along with APB’s Head Coach, Andy Skarda. Throughout this episode, the trio go over how professional builders can create their exit strategy. During this episode, Russ, Sky and Andy discuss the different types of exit strategies builders can use, as well as who actually needs to consider creating an exit strategy plan and when they should start. The trio explain what a successful exit plan looks like from a strategy perspective, and go over some of the key considerations you need to make when planning an exit strategy. Throughout episode 39, Russ, Sky and Andy also go over the many common mistakes builders make when trying to sell their business or create an exit strategy, and outline what buyers are actually looking for in a building company. Listen to the full episode learn the options you have in creating your perfect exit strategy. ABOUT RUSS STEPHENS Co-founder of the Association of Professional Builders, Russ is a data analysis expert who has introduced data-driven decision making to the residential construction industry. Russ is also a proud member of the Forbes Business Development Council. Connect with Russ: linkedin.com/in/russstephens ABOUT SKY STEPHENS Co-founder of the Association of Professional Builders, Sky specialises in taking complex business strategies and converting them into actionable step-by-step guides for building company owners. Sky is also a proud member of The National Association of Women in Construction and the Top 100 Women in the broader construction sector. Connect with Sky: linkedin.com/in/skycheristephens ABOUT ANDY SKARDA Head Coach at the Association of Professional Builders, Andy specialises in helping business owners in the building industry identify and implement the skills and systems they need to be successful, without needing to go back to school. Or more importantly, without going bust. Connect with Andy: linkedin.com/in/andy-skarda-92a6875/ TIMELINE 2:02 Why builders need an exit strategy. 3:39 Who should consider liquidation. 5:26 Who needs to consider creating an exit strategy plan and when. 6:36 What a successful exit plan looks like from a strategy perspective. 8:44 The different types of exit strategies. 13:33 Some of the key considerations when planning an exit strategy. 14:42 The mistakes builders make when trying to sell their business or create an exit strategy. 19:56 The necessity of leadership and communication in an exit plan. 23:10 The critical elements when selling a building company. 26:03 How to find the magic number when selling a building company. 28:11 What buyers are looking for when purchasing a building company. 34:58 The impact of intellectual property (IP) when selling a building company. 36:44 How legacy and succession planning factor in to exit planning. 42:01 The next steps after the exit? 45:34 The common outcomes for builders that have sold their businesses. 47:33 Some key learnings from the perspective of APB coaches when working with builders on exit strategies. 49:24 Available resources for builders who are considering their exit strategy. LINKS, RESOURCES &amp; MORE</p