BEI Founder John Brown on Mastering Business Continuity with Owner-Centric Planning

Summary

In this conversation, John Brown discusses the concept of owner-based planning and its importance in growing and protecting business value. He highlights the difference between exit planning and owner-based planning, emphasizing the need to focus on growing value rather than just planning for an exit. John also emphasizes the importance of developing a management team and protecting the business from employee departures. He discusses the collaborative nature of strategic planning and the role of different advisors in helping business owners achieve their goals. The conversation concludes with a focus on deep listening and avoiding jumping to solutions too soon.

Takeaways

Owner-based planning focuses on growing and protecting business value, rather than just planning for an exit.
Developing a management team is crucial for growing and protecting the business.
Collaboration between different advisors, such as financial planners, lawyers, and insurance advisors, is essential for comprehensive planning.
Deep listening and understanding the client's needs and goals is key to providing effective advice and solutions.

Chapters

00:00 Introduction and Background
01:02 Owner-Based Planning
02:18 Exit Planning vs. Owner-Based Planning
03:43 The Importance of Growing Value
05:06 Protecting the Business in Case of Owner's Absence
06:30 Collaboration with Other Advisors
07:00 Incentive Planning and Behavior
08:29 Different Approaches to Helping Owners
09:55 Sophistication of Strategic Planning
10:51 Protecting the Business from Employee Departures
12:45 The Consequences of Not Protecting Key Employees
13:43 The Importance of Developing a Management Team
18:26 Creating an Immortal Business
20:19 Collaboration Between Advisors
22:34 The Role of Business Advisors
24:02 Starting with a Growth Conversation
26:22 The Importance of Senior Leadership
27:44 Aligning Goals with the Senior Leadership Team
28:42 Incentive Planning for the Senior Leadership Team
30:11 Collaboration with Other Advisors
32:54 The Importance of Deep Listening
35:17 Avoiding Jumping to Solutions Too Soon