Doescher Group Proven Process
As a business owner who advises business owners, I will be the first to admit that sometimes I haven’t been great at taking my own advice. Perhaps you too can come up with a million excuses under the general heading “TOO BUSY” to not do the things you know you should be doing. I’m trying to work on this and one way we are finding huge success in our own implementation of EOS, the Entrepreneurial Operating System.
We are nearly approaching a year operating as an EOS business and we cannot say enough positive things about how it has transformed the way we work together at Doescher Group. One of the important aspects of EOS is the need to define your customer’s journey through a one-page Proven Process document. As a team we went through many iterations of this, ultimately arriving at what we think is an entertaining and enlightening way to explain who we are and how we guide business owners toward their goals.
The Two Paths, But It All Starts with Discovery
At Doescher Group, we have two main client paths: Exit and Evolve.
As a business owner, you will one day exit your business. We are ready to walk you through this process every step of the way.
On the other hand, along the road to the eventual exit of your business, it will inevitably evolve as you work to meet customer needs and build value for yourself and your employees.
Regardless of which path you start down, everything begins with building a relationship through Discovery.
We never approach an initial conversation with a business owner with a predetermined outcome. Our purpose here at Doescher Group is to level the playing field for self-made business owners by helping them navigate this unfamiliar financial terrain with confidence. In our experience, likely a third of the business owners we advise will become a client. Regardless of our financial arrangement with you, we take Discovery seriously. We love to meet new business owners and learn their stories.
From there we move on to Initial Data. In this step, we may take notes through meetings and sometimes we might even receive some confidential documents to review regarding your circumstance. In our experience, it’s worth taking the time upfront to really get to know you, your goals, and your company before proposing a possible way to work together.
Once we’ve immersed ourselves in your world, and feel confident we can help you achieve your goals, it’s time to choose our path. Exit or Evolve?
The Evolve Path
Should you choose to Evolve your business, we enter an iterative process of prioritizing needs, defining scope & executing, assessing results, and deciding if we want to continue Evolving. This can take many forms, but ultimately it’s about assessing where you’re at as a business, comparing that to your ultimate goals, and undertaking real, tangible projects to move us closer to your goals. It’s a real privilege to walk the Evolve Training Grounds with our clients, as they build a stronger business.
Two common starting Evolve quests are an Exit Audit or the construction of a financial forecast (i.e. budget) for the business.
An Exit Audit might be an appropriate start if you’re looking to understand a baseline of where your business stands from an outside investor’s perspective and would like to identify what you can do about it.
The Exit Audit results can lead you to your next Evolve quest, which could involve addressing a weakness such as high owner dependence, customer concentration, weak financial controls, or any myriad of other issues.
A financial forecast could also be a first Evolve quest, particularly if you feel an acute financial need. For example, assume you need to make an investment to undertake some new business you recently won. Or perhaps you’ve fallen into a temporary business slump and are looking for investors to assist with a turnaround. In the event that you sense cash strain and think you need outside funding to resolve it, it’s critical to start forecasting the future right away. You will need to be able to answer questions that might come up in conversations with a banker or equity investor. This can lead to the next quest which may be arranging financing, for example.
Regardless of your specific situation, the key is to understand that our team is here to walk the Evolve loop with you for as short or as long as you need it.
The Exit Path
Whether through initial Discovery or the completion of an acceptable number of Evolve quests, the time comes for every business owner to Exit.
When you think you’d like to Exit, we move on to the Assess Exit Preparedness step in our Proven Process. This is the gateway to your Exit.
Through a variety of means, this step in the process involves us working with you to clarify your preferred exit path, with a lot of education along the way. While we learn your goals starting with Discovery, at this stage of the process we will get very specific about your exit path, be it internal, external, or anything in between. We will talk through potential valuation, but also the details of deal structures associated with different potential exit paths.
Upon completion of that step, we ask the all-important question:
“Are your expectations aligned with what we believe to be achievable?”
If yes, we can proceed to Facilitate Exit.
If not, we can return to the Evolve training grounds where we can take action to address the expectations gap.
When it comes to Facilitate Exit, we walk with you every step of the way along this path as your Chief Transaction Officer and trusted guide through this unfamiliar terrain. Just as in any competitive situation, we can train as much as we want, but nothing can completely prepare you for the actual game. We will remain in your corner all the way through your exit and beyond.
Our North Star: A Satisfied Client
In the end, our goal is a Satisfied Client. We want you to feel you got the absolute best out of your exit process. We want you to be happy the day the deal closes, but perhaps even more importantly, a year later and beyond. We know that regret can eat away at the best of us. Our Proven Process proactively addresses this seller’s remorse every step of the way.
To be blunt, most self-made business owners tend to skip straight to Facilitate Exit. Perhaps they touch on the question of expectations alignment, but for the most part, they walk into the exit process completely unprepared. This lack of preparedness can lead to avoidable calamities that leave you disappointed about how your life’s work is passed on to the next owner.
Don’t become that statistic. Consider joining up with us. Follow our Proven Process and enjoy the satisfaction of knowing you did everything you could to nail your exit.
We love talking to business owners like you. We’re honored to be a part of your story, however big or small. Do not hesitate to reach out. If you’re not ready yet, we are happy to point you in the right direction in the meantime. Our purpose and highest honor are to set you up for success.
If you own a business that’s looking to exit or evolve one day, our Proven Process is for you.
