Welcome to the “Show Me The Way” podcast with David Seitter
In this episode of “Show Me The Way,” Dave sits down with Jim Hoggatt, Founder and CEO of Exec HQ, to discuss his unique approach to consulting, emphasizing the importance of a family-first organization and working closely with businesses to develop and execute growth, profitability, and exit strategies.
Ep. 22 — Maximizing Business Growth and Exit Value with Exec HQ’s Jim Hoggatt
In this episode of the Show Me The Way podcast, Dave Seitter speaks with Jim Hoggatt, founder and CEO of Executive HQ, a consulting firm that specializes in providing executives as a service solution to companies ranging from startups to $500 million in revenue.
Jim shares his background in the consulting industry, having worked with Price Waterhouse, and serving as a senior partner at a large CFO consulting firm before starting Executive HQ five years ago. He explains that his firm is different from traditional consulting firms in that it prioritizes the work-life balance of its executives and their families, and provides “executives as a service” rather than simply offering recommendations and writing reports. The Exec HQ team is composed of experienced C-suite executives who come in to help run companies, developing and executing strategies alongside the company and its team.
Increasing Business Multiples
The conversation then moves on to a recent success story in which Jim and his team at Exec HQ helped a service company increase its valuation from a four or five multiple on earnings to a seven or eight multiple. This dramatic increase in value was achieved by de-risking the organization and implementing a virtual C-suite, allowing the company owner to take a step back and let the business run smoothly without constant involvement.
Jim emphasizes the importance of focusing on both the EBITDA and the multiple sides of the valuation equation, as many CEOs tend to only focus on the former. By addressing both aspects, Exec HQ is able to help companies increase their value significantly and prepare them for a successful exit.
Advice for Business Owners Looking to Exit
When asked about his advice for business owners looking to transition their business or go through an exit, Jim recommends hiring a transaction attorney with a high level of experience and bringing in a firm like Exec HQ to assess the company’s current state and develop a long-term strategy that positions the company for a high-value exit. He also stresses the importance of always keeping a company in a marketable state, regardless of whether a sale is imminent or not, as opportunities can arise at any time.
This episode of the Show Me The Way podcast provides valuable insights and advice for business owners and entrepreneurs looking to grow their companies and maximize their exit value. Jim Hoggatt’s unique approach to consulting, with a focus on providing executives as a service and prioritizing the well-being of his team and their families, sets Executive HQ apart from traditional consulting firms. By working closely with businesses to develop and execute growth, profitability, and exit strategies, Hoggatt and his team are able to help companies achieve success and high exit values.
This podcast is provided for educational purposes. It does not constitute legal advice and is not intended to establish an attorney-client relationship. The recommendations contained in this podcast are not necessarily appropriate for every individual or business. In determining the best course of action, business owners should consult with an attorney on their distinct circumstances.