how to exit

Dawn Bloomer Interview on How2Exit Podcast

In this episode

Introduction to Dawn Bloomer:

  • Background as a veterinarian
  • Transition into business strategy and mergers & acquisitions

The Journey to Business Acquisitions:

  • Dawn’s early ambitions and career as a veterinarian
  • The shift from veterinary practice to business consulting
  • Involvement in business acquisitions and mergers

Challenges in Professional Services Practices:

  • The struggle of professionals in managing businesses
  • The importance of business knowledge beyond professional training

Exit Planning for Business Owners:

  • The lack of preparedness among practice owners for selling their businesses
  • Insights into the process of selling a veterinary practice

Trends in the Veterinary Industry:

  • The rise of corporate practice groups
  • Shifts in market dynamics during and post-COVID-19

Broader Industry Perspectives:

  • Similarities across various professional practices like chiropractors, lawyers, etc.
  • The importance of diversifying client reliance away from individual professionals to the brand

Technological Advancements in Service Industries:

  • Embracing technology for better business operations
  • Future trends in telemedicine and virtual consultations

Planning for an Exit:

  • The ideal timeline for exit planning
  • The significance of separating personal identity from business roles

Key Takeaways:

  • Professional service practice owners often lack the necessary business training to prepare their businesses for sale.
  • Building a strong brand and transferring goodwill to the brand instead of an individual is crucial for a successful exit.
  • Leveraging technology can help professionals scale their businesses and improve customer service.
  • The timeline for preparing a business for sale should ideally be 5 to 10 years to maximize options and value.

Listen here:

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