For over 30 years, Eugene Wallace has been a tremendous resource and trusted advisor to many family-owned businesses. At Family Business Advisers, Wallace specializes in succession planning for businesses transitioning ownership from one generation to the next. In addition, Wallace has expanded Family Business Advisers and now guides owners who are looking to sell their business. Working exclusively with family-owned businesses, Wallace understands the intricacies of succession planning and has become the go-to expert for many generations of leaders.
Business Challenges
Having built a strong foundation of succession planning for family-owned businesses, Wallace saw an emerging opportunity in another area, advising owners looking to sell their business. The team at Family Business Advisers could not ignore the growing demand for business owners seeking value building and exit planning consulting.
In order to focus on this new advisory arm of his business, Wallace searched for a tool that had a proven track record of helping owners build value and successfully sell their business. Additionally, Wallace needed an effective way to generate leads and increase awareness for this new service. Lastly, Wallace needed a coaching methodology to follow as he expanded his service. With these challenges in mind, Wallace was on a search for a platform that can help spearhead this new value building and exit planning arm of his business.
Why The Value Builder System™?
Utilizing The Value Builder System™ has fueled Wallace’s new value building advisory arm, spawned new programs, and helped grow the business in a number of ways. By strategically deploying The Value Builder System™, Family Business Advisers has increased revenue by up to 40%.
In order to solve his first issue, generating interest from prospects, Wallace leverages the Value Builder Questionnaire. By simply sending a web link to prospective clients, business owners are given an online assessment which takes 15 minutes to complete and provides them with a detailed report on the strengths and weaknesses of the business. This simple, yet powerful tool has helped Wallace convert two to three times more prospects into clients. The Value Builder Questionnaire effectively identifies areas of concern for business owners, giving them a starting point to improve the company.
Furthermore, with the data that comes from the assessment, Wallace is able to begin fruitful discussions with business owners about how building value will yield a much greater result when selling. When describing its impact, Wallace said, “The Value Builder System™ helps in the discovery process, determinie where they are, develop a plan and assist them critically in doing the work.” Wallace has been impressed with how all-encompassing The Value Builder System™ can be for business owners, beginning in the discovery phase, all the way to when a business is sold.
The Value Builder System™ has also helped Wallace apply value building principles to his core strength, succession planning. Once the Value Builder Questionnaire is completed, Wallace and each business owner have a clear understanding of where the business stands based on the 8 Key Drivers of Company Value. Wallace then works together with the owner and their children, delegating responsibilities to start improving their given key driver(s). This activity gives owners confidence that their business is in good hands, will increase in value and continue to thrive.
The Value Builder System™ has also been the source of a new program at Family Business Advisers which has boosted revenues. Wallace created a peer mentoring program where ten to twelve business owners gather monthly and together work through The Value Builder System™. Rather than traditional one-on-one sessions, this new group setting has enabled Wallace to take on more clients than ever before, as well as organize multiple groups. When discussing this new initiative, Wallace said, “The Value Builder System™ gives me more consistent and directed content to work with business owners.” With each session, Wallace does little planning but instead relies on The Value Builder System™ and its step-by-step methodology.
Results
With new group coaching sessions designed around The Value Builder System™, Wallace has seen revenue surge and increased his capacity to advise more clients. Without the need for a marketing resource to craft a presentation, Wallace uses the tools and exercises within The Value Builder System™ instead.
The Value Builder System™ has proven to be a worthwhile investment for Family Business Advisers. Wallace can now offer value building advisory in addition to his existing succession planning service. With a new platform in his arsenal, Wallace has a reliable tool for lead generation, succession planning, and group coaching.
