EP.35 - The Exit Equation: Len Bruskiewitz on Preparing Your Business to Sell
In this episode of Retained Trust, host Karl Hughes speaks with Len Bruskiewitz, founder of Greater Heights Coaching, about how small business owners can better prepare for a successful exit. With decades of experience in tech and a background rooted in a third-generation family business, Len shares what it takes to move from running a business to exiting with clarity and value. They break down the emotional, financial, and operational components of a strong exit strategy—including the risks of poor planning, how buyers actually evaluate businesses, and the critical role of independence from the owner. Whether you plan to sell in three years or ten, this conversation outlines how to ensure your business is truly built to exit.
Key Points From This Episode:
[00:01:07] Len's early exposure to business through his family's funeral home
[00:03:21] First client story that sparked Len’s focus on exit planning
[00:04:32] The high-impact, multi-year process of selling a business
[00:05:46] Why exit planning is just business planning with an end date
[00:06:36] Common mistakes business owners make before selling
[00:08:28] The underestimated timeline of getting a business ready to sell
[00:10:25] Why clean books and recurring revenue matter to buyers
[00:12:33] The risk of having most of your net worth tied to your business
[00:14:54] Three-legged stool of exit readiness: business, financial, and personal
[00:16:04] What buyers actually value beyond financials
[00:17:18] Breaking down intangible capital: structural, customer, social, human
[00:20:24] How risk lowers business valuation
[00:24:20] The challenge with revenue-based valuations
[00:27:00] Advice on intermingling personal expenses in business
[00:31:10] The different types of buyers and their motivations
[00:34:57] Importance of aligning exit terms with personal goals
[00:38:42] Understanding cash at close, seller notes, and earnouts
[00:43:32] The emotional toll and regret of unplanned exits
[00:46:07] Why entrepreneurs struggle with life post-exit
[00:49:48] Book recommendations: Built to Sell and The E-Myth
[00:50:56] Where to find Len and access his free business valuation tool
Links:
- Len Bruskiewitz on LinkedIn: https://www.linkedin.com/in/lbruski/
- Greater Heights Coaching: https://greaterheightscoaching.com/
- Karl Hughes on LinkedIn: https://www.linkedin.com/in/karllhughes
- Production and editing by The Podcast Consultant: https://thepodcastconsultant.com
