The reality of what it takes to sell a title business has hit home for many in the past several years, whether the motivation was retirement, market pitfalls, career changes or simply a lucrative opportunity. At some point, owners have to decide what to do with their operations when it’s time for them to make life changes. These decisions have to be made more often — and more unexpectedly — than one might imagine. And when the decision is made to have a business valuation conducted, it is often too late for companies to fix issues that could significantly affect the outcome of the transaction.
The Title Report is hosting a Webinar on Thursday, July 19 at 2 p.m. ET to assist title professionals in taking a hard look at their business structure and processes to ensure a better financial future in the short term, and ultimately lay the groundwork for optimizing the business valuation process when the time comes.
Two professionals from the title insurance industry, Joe Piernock, a business valuation professional, and Donna Martin, an executive coach and former title agency owner, will instruct Webinar participants on how to prepare now, for what is for some, the biggest business transaction of their life.
Piernock will talk about how changing some basic fundamentals of a business can significantly impact the value of the business and how it looks on paper. He will cover:
- Ways to preserve your agency’s value now;
- What title owners can do now to have a better outcome before it’s too late;
- Best practices for selling a company; and
- Corporate paperwork, underwriter agreements, and financial and legal behaviors.
The other side of the coin is preparing yourself mentally and emotionally for a valuation or sale. According to the speakers, the biggest pitfall of a deal failing is that the owner’s uncertainties, hesitations and unknowns get in the way. That is where Martin comes in. Martin will offer real life advice on how to get your mind around separating yourself from your business in order to have a successful outcome when it’s time to sell. She will talk about things a title business owner can do to relieve the anxieties around business valuation and how to prepare mentally for this major life-changing transaction. She will cover:
- Discovering ways to round out a lopsided life;
- Dealing with the fear of the unknown; and
- Answering the question, “What will I do when I don’t do this anymore?”
Martin will share with participants steps to take to relieve their anxieties and embrace the opportunities beyond the sale, so that once the deal is set on paper, there is nothing standing in its way.
Martin and Piernock are title industry experts who help companies with changes and advise on how to enhance their businesses for optimum results. Join them for this unique instructional opportunity and see if you are doing all the things now to ensure a successful business transaction in the future, whether it is the near or distant future. Because, it’s not a matter of if, it’s a matter of when you will exit the title business. Don’t wait until it’s too late. Tune in on July 19.
Executive Coach, Change Engine
Donna Martin began her career as co-owner and manager of a Toledo-based real estate service business. Over 17 years, she grew that business from a handful of people to a staff of more than 60 with five offices, managing an annual budget of $6.5 million in her final year. After successfully running her business, she sold it to a Fortune 500 firm in 2000. They hired her to continue running the operation for them, and she stayed on as chief executive officer for five years. In 2000, she was elected president of the Ohio Land Title Association, representing 300 title businesses in the state. In that role, she helped develop state laws to govern her industry. Besides leading, motivating and marketing her business, Donna also created and delivered continuing education training to Realtors and attorneys. A Competent Toastmaster, she has spoken to both small and large groups.
Recently, Donna diverged from this career path. She wanted a new vocation where her work would impact people's lives. As a result, she created Change Engine LLC after attaining a Certificate of Coaching Skills through the international coach training school, Results Coaching Systems of New York. She chose Results Coaching Systems because it differs from other coaching processes — it's based upon recognized psychological principals and neuroscience. This scientific foundation helps Donna better understand her clients and gives her tools to more effectively help her clients change behaviors that hold them back from success. Donna will soon be certified through the International Coaching Federation while also continuing her training through Results Coaching Systems.
President, Corporate Development Services
Joe Piernock is the president of Corporate Development Services (CDS). CDS specializes in business valuation and expert testimony for the title insurance industry, and has completed over 450 valuations for all sizes of title agencies, insurers and plants. In addition to business valuation, Joe tackles those projects whose circumstances require advanced analysis
Prior to consulting, Joe spent 20 years with ARCO, where he conducted dozens of large and complex "buy" and "sell" valuations. The total value of these analyses totaled many billions of dollars over all sorts of industries and jurisdictions. Joe also held positions in marketing, finance, business development, manufacturing, governmental affairs and engineering, which explains his "all business" approach to valuation. He holds a Master of Business Administration degree from the Wharton School at the University of Pennsylvania, a Master of Science degree in engineering from Carnegie Mellon and a Bachelor of Science degree in engineering from Villanova.
Editor, The Title Report, October Research, LLC
Chris Crowell is the editor of The Title Report, a publication of October Research. Chris brings tremendous research and social media skills to his position as editor, and also acts as a moderator for October Research Webinars. He received a bachelor's degree in communications from Walsh University in Canton, Ohio, and a master's degree in magazine journalism from Kent State University. He has been a trade journalism editor for more than three years.