Business owners wear many hats. From manager to financier to head of operations, an owner finds themselves in plenty of roles, whether they mean to or not. This stress can extend as the owner begins the exit process and has additional considerations in exit options, succession woes, and other potential due diligence flags that have gone unnoticed.
“At ELEVO, we believe a successful exit is not an event. It’s a collaborative process,” said Nick York, CEO and Co-Founder of ELEVO Advisors. “Collaborative teams dramatically increase the probability of success because they align all the moving parts of a complex transition into a cohesive strategy.”
ELEVO Advisors was founded on this principle. As a firm composed of former CEOs, business owners, and operators serving as strategic counsel, ELEVO provides legal insight, driving value for business owners. When legal, financial, and operational minds work in concert, business owners get more than advisors. They get strategic partners.
“We’re not just there to manage legal risk,” Nick said. “We’re there to help owners see around corners, prepare emotionally and structurally, and exit on their terms.”
Working together ensures continuity and establishes a stronger basis of trust. Together, lawyers, accountants, consultants, and more, create the core team for the owner, quarterbacked by the Certified Exit Planning Advisor (CEPA®) who can successfully guide them through the Value Acceleration Methodology™.
As a core leg in the Three Legs of the Stool Approach, the financial aspect of an exit is foundational. Despite this, the role of the accountant can often be underleveraged, according to Nick. Accountants bring a depth of relationship and trust that is critical in high-stakes transitions.
“Accountants are vital for assessing the current financial posture of the business and preparing it for due diligence,” he said. “But great accountants go further. They structure the deal, model the tax implications, and often have the deepest, longest-standing relationship with the owner.”
Their involvement brings stability at a time when owners are navigating uncertainty and the emotional aspects of exiting what often is their life’s work. Their insight, when shared proactively across the team, can power smart reflective decisions that directly increase financial and personal outcomes.
Legal counsel may be considered the most critical role in succession planning, but they should do way more than just drafting documents. “The ‘right’ lawyer will be a critical player in the Value Acceleration Methodology and can help ensure long-term enterprise value,” according to Nick.
“We look at the business more holistically. Because our team members have all been CEOs or business owners themselves, we bring a pragmatic lens,” he continued. “Owners appreciate that. We’ve been through it many times, so we understand the business and personal challenge of preparing a company and its owners for an exit. The best lawyers, especially if they are a CEPA, focus on both mitigating risk and increasing enterprise value. That process should start early on.”
The lawyer on the exit planning team, who can also be a CEPA, focuses on protecting value, mitigating risk, managing intellectual property, assessing compliance issues, and more. They protect various aspects of the owner and their business and drive value through the Value Acceleration Methodology through the de-risking process.
When they integrate and communicate openly with the broader team, legal becomes a value enabler, not just a cost center.
An owner can have the most elite cross-functional team, but if there is no communication between the professionals, there is no chance of a significant and successful exit.
“I’ve seen firsthand how misaligned assumptions or disconnected advisors can cost business owners time and money,” Nick said. “That’s why we champion what I call ‘radical clarity,’ which is open, proactive communication that keeps everyone aligned from day one.”
Consistency in communication is vital and establishing that cadence not only provides Nick’s described “radical clarity,” but also builds trust between the separate professions on the team. This shared framework and strategy enables legal, accounting, and operational decisions to be cohesive.
“The decisions are made in sync, not in silos,” Nick said.
York urges business owners to be intentional when selecting their advisors. The key is to work with experts who can simplify the complex and truly have your best interest in mind. He recommends asking three critical questions:
For Nick, having the right team moves beyond the credentials. “The right team isn’t just credentials, it’s cohesive,” he said. “When you align strategy, structure, and heart, your exit is not just successful. It’s transformative.”