Business owners preparing to sell, transition, or pass on their companies often face a harsh reality: the difference between the value they receive and what they could have achieved with proper planning can stretch into the millions. Dan Conklin, a Certified Exit Planning Advisor and founder of Bizical Fitness, addresses this gap in his new book, Business Strong, Beyond the Trap. The book provides a roadmap for owners who want to ensure their life's work yields the financial reward it deserves.
Conklin, who holds both CEPA and Certified Employee Ownership Advisor credentials, frames the problem bluntly: "The gap between what an owner receives and what they could have planned for is frequently measured in seven figures," he said. "This isn't a failure of ambition. It's a failure of preparation." That preparation deficit is what the book seeks to eliminate.
At the core of Business Strong is the V.R.T. Going Vertical methodology, a framework built on three pillars: Valuable, Repeatable, and Teachable. These principles help distinguish a sellable company from one that primarily functions as the owner's high-income job. The book identifies eight value drivers that can transform a business into a transferable asset, making it attractive to buyers or successors.
The book is structured around six stages of an owner's journey: The Calling, The Training, The Crossroads, The Close, The Legacy Path, and The Champion Mindset. This structure allows readers to start wherever their business currently stands, rather than forcing them through a linear progression. Practical tools include a 24-week owner sprint, exit planning worksheets, and a glossary of exit-planning terms, giving owners actionable steps to increase value.
Conklin's advisory practice, Bizical Fitness, works with companies generating between $900,000 and $15 million in annual revenue. He has guided owners through a range of exit structures, including stock sales, ESOPs, family transitions, and employee ownership arrangements. This breadth of experience informs the book's practical, scenario-based approach.
For owners considering employee ownership as an alternative to a private equity sale, Conklin's dual credentials as a CEPA and CEOA provide a unique perspective. The book does not advocate for a single exit path but instead equips owners to evaluate their options strategically. As Conklin writes in the introduction, "You built something most people would never attempt. This book makes sure it's worth everything you put into it."
The implications for the small and mid-sized business market are significant. With millions of baby boomer-owned businesses expected to change hands in the coming decade, a lack of exit preparation could result in substantial lost wealth and unnecessary closures. By offering a structured, educational resource, Conklin aims to shift the odds in favor of owners and their communities.
Business Strong, Beyond the Trap is available through major retailers and at bizicalfitness.com. The book's release signals a growing recognition that exit planning is not a last-minute task but a discipline that should begin years before a sale.
