Playing golf with a superior caddy is the best way to enjoy a round of golf. Having an extra set of eyes—and expert guidance—can help you reveal your own talents. In the same way, your business succession plan is much more prosperous when done with someone experienced in exit planning.
EPI has a network of caddies—called Certified Exit Planning Advisors, or CEPAs—to help you exit your business on your terms and in your timing. Like caddies, CEPAs offer business owners (aka, golfers) much more than you may expect.
Most think of caddies as the ones who carry the golf clubs and equipment and help keep score. That’s true, but a good caddy—one who has honed the craft—is prepared for a lot more. And that’s important because, without an experienced caddy, a golfer is simply guessing about how far the green is, what club to use, etc. A business owner without a CEPA can also fall victim to guessing, something you don’t want to do with what is likely your largest asset.
What Can a CEPA Offer?
Below are five skills a good caddy and CEPA offer:
- The course route: A caddy must be able to guide a player around the golf course, providing yardage to any target. In the same way, a CEPA guides the business owner by setting an exit strategy, outlining the course, and providing guidance on necessary steps to accelerate value and build a significant company ready for transition.
- The right equipment: Golfers routinely look to their caddy for advice on which club to use for a particular shot. Yet sometimes the caddy is unsure—the next move is tricky. Similarly, a CEPA provides advice on various aspects of the exit strategy. Yet, because a business exit is typically multi-faceted, a CEPA may not know all the answers. A good CEPA, though, has a network of advisors to partner with, ensuring the owner is properly guided in all areas—even those outside of the CEPA’s area of expertise.
- Distance to the green: Golfers frequently ask their caddies how far it is to the green because they’re expert at calculating it. Using the proven Value Acceleration Methodology, CEPAs also closely watch the “green” and the three legs of the value acceleration stool: business, financial, and personal. As the exit strategy is being executed, CEPAs use various markers to track location and distance from the hole, while guiding owners on when to lay up and when to shoot for the green.
- Golfer style: Caddies that caddy for the same golfers start to develop a sense of how the golfer golfs. That’s particularly helpful when handing clubs to the golfer and offering advice on various shots. Likewise, a CEPA must know an owner’s strengths and weaknesses and how best to encourage, counsel, and motivate them toward the 18th
- The thin line: In golf, the difference between a great shot and a lost ball can be a “thin line”—a few inches. Ensuring a great shot often comes down to one differentiator: practice, practice, practice. A CEPA must provide consistent counsel to increase value, decrease the margin of error, and keep the “cup” in focus.
How You Play Matters
Achieving the lowest score in golf takes proper guidance and patience. Caddies must know the course, rules, and equipment while understanding a golfer’s skill level, focus, and motivation. CEPAs apply the same principles as they guide business owners to move forward—leaving what often is a large part of their identity or life’s work—to an exit that allows them to achieve all of their goals, personally and professionally.
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