Welcome to XPX Houston
We launched the Houston Chapter in early 2023 with a focus on educating owners along their journey. Although we are the exit planning exchange, the biggest part of exit planning is growing businesses so that owners are better armed to exit on their own timing.
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About XPX
XPX is a multi-disciplinary community of professional advisors who work collaboratively to help owners build valuable businesses and assist them in preparing and executing a successful transition. Private company transitions require a broad view of the entire life cycle of a private company including:
- Business value growth
- Business value transfer
- Owner life and legacy
Our community includes advisors and owners in all stages of this process. Our members have specific areas of expertise as well as a holistic understanding of the breadth of challenges an owner faces throughout the stages of the private company life cycle. This helps XPX members to work in the best interest of their clients.
We have a clear set of shared principles for advisor excellence. Each of the 12 professions involved in XPX has specific ethics and practice guidelines. Our members take this a step further, adhering to a set of principles that guide collaboration and long term thinking (see our five Advisor Principles)
We are unique in that we are the only open advisor network in the private company/business value transfer market. This means that we do not advocate a single approach or vendor. Instead, we endeavor to be a place where all advisors, owners and vendors can interact and collaborate.
Each XPX Chapter is a locally-controlled non-profit organized by national and regional leaders in the private company market. The first XPX chapter was launched in Boston in 2007. Today, we have Chapters across the U.S..
The Chapters are supported by XPX Global, an entity that provides capital, intellectual property and administrative support to Chapter operations. This model takes care of the administrative tasks that are the bane of the boards of most professional organizations. It leaves to the Chapters the key tasks of events, membership and sponsorship—the most visible and high value activities for volunteers interested in an increased profile in the private company market.
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If the value of your company would suffer in your absence, the biggest threat to its marketability might be you. “Buyers generally aren’t interested in paying top dollar if the business is overly reliant on the owner for its success.” That excerpt from a long-ago IBG Business article (“article on industry rollups), the company may be worth its book value and little more. Solutions in Print. While Gerber does a masterful job of describing the problem, the real value of The E-Myth and its progeny is that they provide therapeutic steps that can help an entangled business owner execute a pivot, breaking free of their comfort zone and morphing into a more valuable leadership role, maximizing business viability and value separate from their incessant presence and hands-on involvement. In addition, Gerber’s 1995 sequel, The E-Myth Revisited, provides a business development process that serves as a framework for developing turn-key systems throughout an organization to produce predictable results and grow in a sustainable way. Guidance in Person. It should go without saying that we think the E-Myth series is a valuable read for business owners who, looking to sell some day, have decided to get serious about preparing their business to stand on its own two feet. And that’s where IBG often enters the story. For us, the business is the product. To help shape a good company into an attractive acquisition target, we often start our preparatory work two years before the company is ready to go on the market, focusing on such priorities as: cleaning up and recasting financial information; improving cash flows; selling off or disposing of unproductive assets, product/service lines, and inventory; diversifying client and vendor concentrations attracting and developing key employees and fostering an effective management team on which a new owner can rely; identifying and protecting intellectual property and other intangible assets (trademarks, patents, copyrights, and any other proprietary information) that set your company apart from competitors; documenting key processes; and identifying and building on the business’s competitive advantages and attractiveness to the best-fit buyer. In the process, we invariably invest time and energy in the owner, helping them prepare mentally and emotionally for the rigors of the sale experience, and identifying roles in the company’s management and operations that the owner should no longer fill if the business is to achieve optimum value. As a business owner, it’s important to recognize that the value of your company lies not just in its assets and profits, but in its ability to exist independently of its owner. This means taking steps to establish a structure, management environment, and culture that can thrive with or, ultimately, without you. That’s a tall order, one that you don’t need to tackle on your own. To find out how we might help, contact an
In my work with family-owned businesses and various enterprises, I’ve observed a recurring theme: the unexpected pitfalls during the acquisition process. And let me tell you, nothing derails a potential deal faster than financial surprises. So, how do you ensure transparency and trust from both sides of the table? The answer lies in a Quality of Earnings (QoE) report. For buyers, the due diligence phase is akin to peeling back the layers of an onion. You want to uncover the core, understand the real financial health of a company, and ensure there are no hidden liabilities. A QoE report does precisely that. It provides a deep dive into the company’s earnings, highlighting any non-recurring items, assessing the sustainability of earnings, and giving a clear picture of the company’s financial trajectory. Simply put, it’s your roadmap to making an informed decision. But here’s a perspective many sellers often overlook: Why wait for the buyer to dictate the narrative? As the owner, you’ve poured your heart and soul into your business. You know its value, its potential, and its challenges. But perception is a powerful tool. By proactively conducting a QoE report, you’re not just preparing for the sale; you’re controlling the narrative. You’re ensuring that the story told is accurate, fair, and representative of your business’s true value. Imagine the scenario: You’re in a negotiation, and the buyer presents a list of financial concerns. But instead of being caught off guard, you’re a step ahead. You’ve already addressed these in your QoE report, providing clarity and, more importantly, solutions. This proactive approach not only builds trust but also positions you in a place of authority. It says, “I understand my business, and I’ve done my homework.” In my experience, the most successful transitions are those where both parties come to the table informed, prepared, and transparent. A QoE report is not just a document; it’s a testament to your commitment to a fair and successful acquisition. It eliminates the “what-ifs” and replaces them with “here’s how.” To my fellow business owners, I urge you: Don’t wait for the buyer to shine a light on your financials. Take the reins, be proactive, and ensure that the story told is the one you’ve lived, nurtured, and grown. After all, who better to tell your business’s story than you?
There is no “I” in team. It is a phrase often cited and not attributed to anyone. So, I am going out on a limb to say there is an “I” in team and it is the most critical aspect of a high-performing team. No, this is not a reference to Michael Jordan’s quote of “there is an “i” in win.” Common knowledge is that a team of self-focused “I” performers does not make for a high-performing team, because they never become a team. What do I mean that “I” is the most critical aspect?
The first bit of concrete feedback I recall receiving in the workplace was from a fellow colleague, a much more experienced person than I. The feedback was not part of a review, he was not my supervisor, but someone I worked with daily. I don’t know what prompted him to share the feedback. I am so grateful that he did. His exact words escape me, but the sum of the feedback focused on my lack of warmth and the perception of being an “ice maiden”. I was shocked.
Stress. You know the feeling, the drop or churning in your stomach, the sweaty palms, the flushing of the face. Full-on signs that something or someone has just sent you on a path of worry, frustration, fear, or panic. While not always appreciated, our bodies send us instantaneous signals of our state of being. The trouble with these reactions is that they served us well when we needed to outrun the saber tooth tiger. Most of us are not living in that environment today, yet our brains have not evolved with our change in circumstances. The outsized reaction is referred to as an Amygdala highjack. This is where Adam Smith’s wisdom can help us evolve beyond our caveman days. But we have to get to that place to step outside ourselves. How do we do that?
The single biggest problem in communication is the illusion that it has taken place. George Bernard Shaw, a famous Irish playwright is credited with this quote which so aptly captures the issue. Communication is the most common organizational challenge cited by clients, whether as part of a team or as individual leaders. Why is that? Let’s start by understanding what communication means. The Latin base of the word is communicare, which means to share. To share something, you must hold or know it, and recognize that sharing will benefit you and the other party. It then needs to be presented in a way that others will want to partake or engage. If the other party is not interested or does not know why they should be, the message will fall on deaf ears. This gives us three distinct components necessary for the start of effective communication.
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