John Ovrom: Business Owner Exit Strategy
A serial entrepreneur, John Ovrom founded his first company in 1991 and ran it along with several other companies for 14 years. After going through the process of selling his company, he realized other business owners needed the support of a service provider who could step into the business, develop a strategic exit plan, and manage their transition.
What started as John helping friends and business connections quickly evolved into a consulting business. John founded Exit Consulting Group, Inc. (ECG) on a simple principle – the desire to help fellow entrepreneurs. John has an entrepreneurial spirit and is constantly coming up with new, inspiring, creative, and innovative ideas for exiting business owners.
John is truly passionate about helping people and solving problems. His fearless persistence, openness, honesty, and intelligence make him an immense asset to his clients. In addition to his entrepreneurial work, John supports the Rotary Club International, serving his Coronado CA club in varying capacities. He has served as President, and as past president of the Coronado Chamber of Commerce.
In this episode, Dean Newlund and John Ovrom discuss:
- How to deal with the emotional side of a business
- Letting go of your business
- Exiting a business
- Owners can control the business but most deals get blown out because of the owner’s emotions. Your job as an advisor is to let them know that it’s a choice and not to tell them that’s wrong.
- You need some space to understand that letting go of a business is going to be hard, so allow yourself to process those emotions while knowing that you can always have someone to talk to and you are not alone.
- Exiting a business is more than a transaction, it’s a transition. So find something outside the business that will help you feel relevant like picking up a hobby, then create a life outside of it.
“We don’t think the business can live without us and yet, it’s really all about us that we need the business.” — John Ovrom
Get a copy of Exit & Answers: Navigate Your Business Exit Like an Expert by John Ovrom – https://a.co/d/ic1EQTg
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The Mission Statement E-Newsletter: https://www.mfileadership.com/blog/
Show notes by Podcastologist: Angelica Rayco
Audio production by Turnkey Podcast Productions. You’re the expert. Your podcast will prove it.