Who is Peter Hickey?
Ernst & Young New South Wales Entrepreneur of the Year in 1999. Bestselling author. Founder of multiple businesses.
Still, Peter Hickey has a confession: “I was a dumb business owner.”
Of course, he’s talking about his beginnings, not his endings. Early in his career, Hickey built a consultancy that included one of the first Windows-based planning software suites to automate business planning. Things were booming: leads, expansion, hiring multiple advisors.
“My head was stuck in the business, and it was growing rapidly,” Hickey recalls. “When I sold it, I had no idea about exit planning or readiness. I thought, ‘This is something I have to tell everyone about.’”
Supporting Systems
It was easier to tell everyone with the help of MAUS Business Systems. He came up with a process to develop attractiveness and exit readiness assessments, then developed software to support those processes. He met and shared notes with Peter Christman and later Chris Snider. Earning his Certified Exit Planning Advisor (CEPA®) credential, he leaned into the developing world of exit planning and expanded MAUS internationally, training hundreds of business advisors in the ways of exit planning.
“I learned so much about exit planning from my own early exit,” says Hickey.
That exit included a rollercoaster process that he negotiated himself. The company had a few offers from multinational corporations that fell through.
“I walked away crushed,” says Hickey. “I had to pick the business up—and myself.”
A year later, he found another buyer and negotiated the sale.
“I went from someone who knew nothing about exit planning to negotiating a highly successful sale.”
Now, Hickey focuses on developing advisors and guiding them on how to engage clients and present themselves—key areas that he says new advisors often overlook.
“Building empathy is critical,” he says of new advisors and their clients. “But as an advisor, the biggest gift you can give a client is to hold them accountable. That all starts with a standard of how you engage with clients and the processes you stick to.”
- Use The Elevator: Reflecting on advisors who aren’t doing well, Hickey says, “They’re usually clumsy with their elevator pitch. Know how much you charge and the process you’re going to use. You’re not a product—you’re selling yourself.”
- Connections: “Exit planning was a way of connecting with a business owner on a new level. They get stuck in the day-to-day. But exit planning is talking about dreams and making them happen. The harder things get in a business, the more important you become.”
- Ignore the Dollar: “If you’re thinking about the dollar signs, you’re not going to be a good advisor. You need to want to help people.”
- Don’t Carry That Weight: “There are parts of a process that you have to collaborate on. Don’t be the advisor who thinks they can do everything themselves.”
About the Circle of Excellence
The Circle of Excellence—a new yearly recognition of the people who have pioneered the exit planning profession—is meant to acknowledge the people who have built community and the body of knowledge we all use to advise business owners.
The Circle of Excellence inducted nine members in its inaugural year at the 2024 Exit Planning Summit.
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