My name is Holly Magister. I am a CPA and the founder of ExitPromise.com
I am very pleased to meet you…
If you’re wondering how ExitPromise.com became a resource for business owners, I am happy to share our story with you.
In the summer of 2008, I had been operating my tax and financial planning practice for nearly twenty years when we began a research project with a college student intern. We wanted to learn more about the possibility of delivering financial services to business owners via the internet.
It took us a couple of years before launching the website which is based on what many of my business clients secretly told me in their conference rooms.
Here’s how we got there…
In the early 2000s while working with business owners as their tax and financial advisor, I also handled many business sales in a supporting role to other advisors. Eventually, I began representing clients as their lead advisor or business broker as well.
It was through these experiences I recognized how virtually all of them would make very similar statements to me.
It would go something like this:
“Oh no, we’re going to have to change this deal. I promised two employees …”
You may replace the words ‘two employees’ with ‘my wife’, ‘my partner’, ‘my children’ or whomever you like. While they were selling their businesses, the conversations would be about the ‘promises’ they made to others when they started and/or while they grew their businesses.
During those years, many business owners also expressed their deep desire to sell a valuable business when the time was right for them. In fact, they would tell me they ‘promised’ themselves they would ultimately sell a valuable business. And their ability to retire comfortably depended on it!
For many business owners, it was equally frustrating to discover the sad fact that their businesses were financially broken when they ultimately decided to sell. I found many business owners, regardless of the size of their business, didn’t know the root cause of their financial struggles or why their businesses were not valuable to buyers.
It became very clear to me that most business owners do not have the financial, tax, or M&A education and experience to capitalize, grow or sell a valuable business.
Despite their good intentions, keeping their promises would never be possible. So, I set out to change this.
After careful deliberation, I sold my tax and financial planning practice in 2009 so I could devote myself exclusively to helping business owners fund, grow and ultimately prepare for the sale or transfer of their business.
And in 2010, we launched ExitPromise.com to help business owners achieve the same goals by offering access to accredited investors, professional advisors, and other resources they need via the internet. Since then, several hundred accredited investors and professional business advisors have contributed to ExitPromise.com and collectively we have assisted more than one million business owners.
Today, Exit Promise offers many free tools, several hundred articles and Q&A with our investors and advisors who are eager to help business owners succeed.
We strive to be a valuable resource to every business owner who raises their hand and asks for help. Join today.