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As small business owners and leaders, we’re no strangers to the daily grind of comparison and competition. It’s easy to look at the success of others and wonder if we measure up. But this Thanksgiving, we’re taking a page out of Heather Holleman’s novel1, “Seated with Christ: Living Freely in a Culture of Comparison,” and the transformative words of Ephesians 2:6: “God raised us up with Christ and seated us with Him in the heavenly places in Christ Jesus.” In the hustle to prove our worth and carve out a place in the market, realizing that your seat at the table is already secured is revolutionary. This isn’t about your turnover, your team size, or the number of followers on social media. It’s about recognizing the value you bring to the table just by being you, backed by the firepower of your determination, creativity, and the unique vision only you possess for your business. The Overlooked Seats Comparison is the thief of joy in business, and it’s also the thief of innovation and growth. The environment of inauthentic seats fuels comparison, the moment you and your team stop eyeing the lane beside you is the moment you turbocharge your path forward. Your business isn’t like anyone else’s—for a reason. The individual strengths and talents within your team are your biggest asset, waiting to be unleashed. Recognize and harness the power of these unique capabilities to drive people-powered change. A Secure Seat on The Team Your team—the one you’ve built, trained, and grown—holds untapped potential. Just as we are seated with Christ in a place of honor and security, so too should our team members feel valued and vital to our mission. This Thanksgiving, let’s take a moment to express genuine gratitude for the diverse skill set each member brings to the table. When people feel valued, they’re more engaged, productive, and innovative. And that’s how a small business not only survives but thrives. The Power of People-Powered Change FIREPOWER Teams is founded on the belief that the power of a small business lies in its people. “Fuel your people power” isn’t just a motto; it’s a mission statement and a call to action. Reflect on how you can empower each team member to contribute their best this holiday season, fully aware that their seat at the table is as non-negotiable as yours. Thanksgiving is a time of gratitude, reflection, and community. As business owners, it’s a prime opportunity to reassess what we’re thankful for and how we express that gratitude through our actions and leadership. Let’s enter this season with a renewed commitment to value ourselves, our team, and all our unique contributions. Let’s reject the ceaseless comparison and instead focus on fostering an environment where everyone feels seated at the table—secure, valued, and ready to make a difference. The entrepreneurship journey is rarely easy, but with a team that genuinely feels like their efforts matter, there’s untold strength to be garnered. Your business, team, and vision have a secured seat at the table. Let’s give thanks for that incredible opportunity and the journey ahead. Conclusion Remember, the most sustainable growth comes from within. Thanksgiving is a time to rekindle our appreciation for the value we each bring to the table, reminding us that when we work together, there’s nothing we can’t achieve.
Halloween isn’t just a time for ghosts and goblins; it’s also a perfect moment to explore those spine-chilling hiring stories that haunt every small business owner’s dreams. At FIREPOWER Teams, we’re all about turning fears into cheers by empowering actionable strategies and strengthening teams. Let’s face the horrors—a bad hire can lurk in the shadows, embodying the kind of nightmares that disrupt teamwork and stifle growth. But fear not! As you learn about these ghastly characters, remember that each horror story comes with a silver lining: a powerful lesson to enhance your hiring process and bolster your team dynamics. The Vampire – The Energy Drainer Traits: This hire sucks the positivity and energy out of your team, often leaving colleagues drained. Impact: Reduced team morale and productivity. Prevention: During interviews, ask behavioral questions that help you gauge a candidate’s influence on team dynamics. Consider including team members in the hiring process to assess chemistry. The Zombie – The Disengaged Traits: Goes through the motions but lacks initiative and passion. Impact: Minimal contribution to team goals and lack of contribution to goals. Prevention: Look for candidates who ask questions about company culture and show enthusiasm for the role because the job description accurately reflects the role’s responsibilities and opportunities for growth. The Mummy – Stuck in the Past Traits: Resistant to change and new ideas, insisting on doing things “how they’ve always been done.” Impact: Hinders adaptation and progress. Prevention: Look for candidates willing to learn new things. Ask them about situations where they had to adapt quickly or change their approach to succeed. Hiring Doesn’t Have To Be A Nightmare Each of these eerie archetypes teaches us that hiring is not just about filling a vacancy but about enriching our teams and aligning with our core values. Hiring should be strategic, and at FIREPOWER Teams, we understand that the right people are the lifeblood of any thriving business. Each new hire should contribute positively to the team’s dynamics and the company’s mission. Remember, hiring doesn’t have to be a nightmare. With the right tools and insights, you can spot red flags early and attract talent that fits the role and elevates your entire team. Let’s turn these horrors into opportunities. Happy Halloween, and here’s to making every hire a treat, not a trick! Maria Forbes and
In recent years, workplace discussions around diversity and inclusion have gained unprecedented momentum. Unfortunately, one facet of this multifaceted issue often gets overlooked: ageism. By dispelling negative ageist cliches, we not only uphold the dignity of older workers, a fundamental aspect of respect, but also unleash the full potential of an experienced workforce. This shift in perspective can lead to a more inclusive, dynamic, and productive work environment where the wealth of knowledge that older employees bring is embraced and celebrated. The Reality of an Aging Workforce The statistics are clear 1. By 2031, workers aged 55 and older will make up over 25% of the U.S. workforce. Additionally, 41% of American workers plan to work beyond 65. These figures underscore the urgent need for a shift in perspective, as many companies overlook the wealth of experience and knowledge this demographic can bring to their team. The Impact of Negative Ageist Cliches Ageism, stereotyping, prejudice, and discrimination against individuals or groups based on their age are particularly pernicious in the workplace. Older workers often battle stereotypes that paint them as being out of touch, slow to adapt to new technologies, or less productive than their younger counterparts. These misconceptions can have profound effects for an individual and lead to an imbalance of problem-solving wisdom. Bias of any kind will hurt the organizational bottom line. Without a diverse workforce, an organization has too much of a good thing. Leaders must be cognizant of the potential loss of valuable institutional knowledge, a crucial factor in organizational continuity. 1. Detriment to Team Member Morale and Motivation Persistent undervaluation of older workers can significantly impact their motivation and engagement. When employees feel dismissed or underestimated because of their age, morale, productivity, and ability to connect with their teams, decrease. This is harmful to both the individual and the organization. Age discrimination is real 2. Two out of three workers between ages 45 and 74 say they have seen or experienced age discrimination at work, and job seekers over age 35 cite age discrimination as a top obstacle to getting hired. If you happen to work in the high-tech industry, your chances of experiencing age discrimination are even higher. 2. Lost Opportunities for Knowledge Sharing One of the most significant losses when older workers are sidelined is the missed opportunity for cross-generational knowledge transfer. Seasoned employees possess a wealth of experience, insights, and skills honed over years of service. This depth of knowledge is invaluable, particularly when paired with the fresh perspectives and tech-savviness of younger employees, creating a powerhouse of innovation and problem-solving capabilities. 3. Diminished Diversity and Inclusivity True diversity and inclusivity extend beyond ethnicity, gender, or sexual orientation and should encompass age. A workforce that appreciates and leverages the strengths of employees across the age spectrum is more representative of society and is better positioned to respond to the needs of a diverse customer base. Older Workers: A Valuable Resource 1. Rich Experience and Expertise Older workers bring an unparalleled level of expertise and experience. Their years in the workforce equip them with a nuanced understanding of their industry, a comprehensive knowledge of company history, and a network of connections that can be leveraged for strategic advantages. 2. Stability and Reliability Older employees can often be depended on to present greater stability and reliability than their younger counterparts. They tend to have lower turnover rates, which translates to reduced hiring and training costs. Their dedication and loyalty to their roles contribute to a stable workforce, which is critical for long-term planning and growth. 3. Mentorship and Leadership Older workers are invaluable resources for mentorship and leadership within organizations. Their insight and guidance can help nurture the next generation of professionals, ensuring a legacy of knowledge and skills that support the company’s future success. In Conclusion, Embracing an Age-Diverse Workforce is a Competitive Advantage As the American workforce continues to work later into life, employers must make a concerted effort to create a workplace that values and promotes age diversity. Debunking negative ageist cliches and recognizing the invaluable contributions of older workers are essential steps toward building more inclusive, innovative, and successful organizations. By tapping into unique strengths and perspectives across the employee age spectrum, companies can enhance their competencies and competitiveness and foster a culture of respect and appreciation for a workforce rich in diversity of knowledge. Citations Article by Growthspace: The hidden potential of older workers: A strategic advantage
ROBS – or use funds from their existing personal 401(k) or other retirement accounts as capital for buying a business. In addition to creating cash flow and minimizing the use of debt, ROBS are an attractive source of funds unlocking value from an individual’s retirement savings to fund a business, what are the tax advantages that make considering a ROBS strategy worthwhile? First, there is the aspect of tax deferral. Financing through ROBS avoids the early withdrawal penalty normally incurred when funds are withdrawn from retirement savings prior to retirement. When you use the capital from your 401(k) to fund a new income taxes or penalties, more money is available to go into the business, thus maximizing your available capital. In addition to increasing capital efficiency, you avoid loan obligations because ROBS is not a debt product. It’s simply accessing the equity you already have built up in your retirement plan, so there’s no monthly repayments or interest like you would incur with a loan. Accessing Business Capital Through ROBS Here are some points to remember about how the flow of money works when using a ROBS strategy: The new business entity to be funded must specifically be established as a C-Corp. After a new 401(k) or profit-sharing plan is the business advisory space and how to implement a ROBS strategy. For a consultation on your business plans and objectives, please contact us at 770.740.0797 or email info2@SJGorowitz.com.
As a small business owner, your instinct might tell you to seize every opportunity that knocks on your door. Let’s face it: saying yes can be a thrilling ride into new ventures. Sometimes, you need to remind yourself of your organizational Sweet Spot. Does your team have the bandwidth, the people power, and the infrastructure to take it on? Sometimes, saying no is not just the better option; it’s a powerhouse move that aligns your business with your growth goal. Here’s the lowdown on when, how, and why flexing your “no” muscle is your smartest play. The Unmanageable Yes When you’re overcommitted and under-resourced, every additional yes is like adding more weight to an already overstretched team. If saying yes means sacrificing the quality of your work, spreading your resources thin, or burning out your team, then it’s time for a firm, resolute “no.” Remember, quality over quantity isn’t just a great saying – it’s the golden rule for sustainable growth. The Misaligned Opportunity Some opportunities seem golden on the surface, but they won’t help you achieve your business mission, vision, or values. Listen up: Your business is your compass; every decision should steer you to your true north. If it doesn’t fit, say no. It’s not just about avoiding the wrong turn; it’s about staying true to your course and your team’s potential. The Power of Prioritization Here’s a reality check—you can’t do it all. When you say no to less important things, you say yes to more focus, energy, and time for what truly matters. Embrace the art of prioritization because knowing what to decline is as vital as knowing what to pursue. Make your yes count! Cultivating Respect Saying no isn’t just about protecting your time and energy; it’s about setting boundaries. Assertiveness isn’t rude; it’s a sign of respect – for yourself, your team, and your business’s vision. When you respect your limits, others will follow suit. It signals to the world that your time, team, and resources are valuable. Conclusion Saying no is a tough decision. It’s not a negative judgment; it’s a selective choice. Think of the word no as a complete sentence and a powerful tool to guide your business to where it truly belongs. So, the next time you’re faced with a request that doesn’t feel right, plant your feet, take a deep breath, and remember that saying no is not just okay—it’s essential for your business’s health and ongoing success. Do you need to get in your Owner Sweet Spot?
There’s a huge demographic shift happening in the United States, as Rollovers as Business Start-ups. ROBS are rollovers that utilize your existing 401(k) retirement funds to finance a new or existing business without incurring early withdrawal penalties or buy a business, and you may not want to take on debt. The ROBS mechanism is a way to utilize your 401(k) savings to access the capital you need without incurring early withdrawal penalties. Advantages of ROBS Advantages of the ROBS financing method include: Debt-free financing. With ROBS, you’re not borrowing money to put as a payment, a down payment or principal payment on a business. ROBS funds are equity you already have that ordinarily can’t be accessed because of the distribution rules of retirement plans. Preserved cash flow. Using saved capital eliminates concerns about high interest rates that can hinder business growth. Improved business success rates. ROBS may contribute to a business’s success compared with traditional methods of financing. Owners using ROBS are fully vested and perhaps more incentivized to make the business work. In addition, there’s no impact on personal credit. Steps to Using ROBS to Fund a Business Here’s how ROBS work and how to start the process. The first step is establishing a retirement plan like a 401(k) or profit sharing plan for the acquired C-Corp business. The third step is rolling over funds from your personal 401(k) into the new corporate 401(k). The new retirement plan purchases stock in the corporation, which provides it with the capital needed. You can continue to make ongoing retirement contributions to the tax-advantaged retirement account as the business grows. Points to Know about ROBS Whenever money goes back to the 401(k), there’s a sale of the business, or the business declares dividends, that money will pass back directly to the shareholder’s 401(k) plan. There’s the potential for a total loss. If the business fails, your stock in your C-Corp could go to zero, providing a loss to your 401(k). There’s a cash flow and business financing options can help you set up your C-Corp and determine how to make the ROBS strategy work for you. Having a professional help you navigate ROBS’ complexities ensures compliance and
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