Small Business ShowsThe RoadmapScaling your business for an exit: What do buyers look for? —...

Scaling your business for an exit: What do buyers look for? — Bryan Turner | Marsh McLennan Agency

On this episode of The Roadmap, host Lee Heisman is joined by Bryan Turner, managing director at Marsh McLennan Agency and serial entrepreneur, to discuss how business owners can prepare for their eventual exit.

Turner notes that his first health insurance business took roughly eight years to scale. In the last two years before his exit, the passing of the Affordable Care Act, and the uncertainty it caused in his industry, drove him to begin researching buyout options. He explains that his final years at the company were spent expanding and refining his company to the point where its growth would be attractive to potential buyers.

While his exit took two years to complete, Turner explains that his mergers and acquisitions partner was essential for ensuring a smooth transition. As in many cases, complications pertaining to logistics and due diligence arose during the buyout process but were ultimately resolved in a way that benefited all parties involved: buyers, employees and customers. His efforts were handsomely rewarded once the transaction was completed. Part of the reason he earned such a profitable deal was that his company had carved a niche for itself in the overall health insurance market. It was this niche that he worked so hard to create over his eight years heading the business.

Turner is not only a seller; he has also bought multiple businesses. He explains that he purchased several pharmacies following the passing of the Affordable Care Act in an attempt to diversify, protecting his health insurance company from any fluctuations in the market. He goes on to note that when he took over these companies, he made sure to keep familiar faces on staff for at least two years so that customers would not be impacted by a sudden change in service.

Turner’s story is one of success and careful management. By carefully cultivating his business’s future and protecting himself from economic conditions, he was able to secure an enviable payday. Entrepreneurs can model their exit strategies after Turner’s to more easily plan for and navigate their retirement.

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Lee Heisman
Lee Heisman
Lee Heisman is a x9 entrepreneur, renowned speaker, and elite business coach from Atlanta, Georgia.

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