Exit Stage Left: Prepping for the Exit from Your Practice with JT Metzger  

  Hello, and welcome to this episode of 20/20 Money! As a quick reminder, if you’re going to be attending Vision West in Las Vegas in a couple of weeks and have a topic you’d like to discuss, I still have one more opening in my schedule to record an episode in person. If you’re interested, be sure to email me at [email protected] to share your topic. My guest on today’s show is JT Metzger. JT has a storied and tenured career of working to help businesses evaluate, strategize, implement, and measure changes in their business that will ultimately help them increase the enterprise value of their business. What’s unique about JT, though is that as a Certified Exit Planning Advisor, he’s worked with practices and businesses of all sizes with the common theme of helping them maximize the return that the owner sees when they sell. In this conversation, we start out talking about the two different groups that business owners can be lumped into and how each group thinks about their business. JT talks about how you can increase your EBITDA in a business through two filters of either growing revenue or reducing expenses (or a combination of the two) and how both the buyer and seller should think about the EBITDA and subsequent multiple used when selling the practice as it relates to being able to service the debt needed to buy the practice. We also spend a good amount of time talking about why it’s so very important for business owners to think about their identity post-sale and why selling your practice will actually cause you to go through a grieving process…but why that process can also allow you to think about what you want your life to look like post-sale, including the possibility of an “encore career.” And be sure to stick around to the end, where JT shares the top areas that business owners should focus their time and energy in the 2-3 years leading up to the sale and which buckets you can attack to drive revenue and what will help you in that process. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, you can also set up a 15min pre-discovery conversation to learn a little bit more about what it means to work with our firm or check out any number of ebooks that we’ve written and are available for download, including our most popular ebook called “Five Tips to Financial Freedom for Optometrists.” And with that introduction, I hope you enjoy my conversation with JT Metzger.   www.smartstreetconsultants.com —————————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Play Stitcher  —————————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!