Tag: Succession Planning

Our recommended title: How to Exit Your Business on Your Terms with Paul Cronin (Ep. 184)

Our recommended title: How to Exit Your Business on Your Terms with Paul Cronin (Ep. 184)

You’ve built a business with care, grit, and vision. But what happens when the finish line is in sight and you realize you’re not ready to cross it? 

For business owners nearing retirement, the decision to sell is about far more than spreadsheets and valuations. It’s personal. It’s strategic. And it can be overwhelming.

In this episode of Retirement Unlocked, Larry Heller sits down with Paul Cronin, a seasoned entrepreneur and M&A advisor with Touchstone Advisors, to walk through how and when to start planning for your exit, on your terms.

What you can expect from this release:

  • The real (and often underestimated) timeline for selling a business
  • Why your business must be ready to sell before you are
  • The “Holy Trinity” of trusted advisors to involve early
  • Common mistakes that derail deals and how to avoid them
  • And more!

Resources: 

Connect with Paul Cronin:

Connect with Larry Heller: 

About Our Guest:

Paul Cronin has over 30 years of professional experience in sales, management, consulting, and entrepreneurship. He has owned three businesses, including a data analytics business, a golf training business, and an exit planning/consulting business. He has been part of the M&A world since 2009, initially in the exit planning field before moving to transactional work at several firms. Paul joined the M&A practice at Touchstone Advisors in 2025

Paul’s background includes being part of the team that grew Eden Toys, a small NY-based toy manufacturer, into a $100 million company serving thousands of US retailers, including TJX, Macy’s, and Nordstrom. Paul led a team of 16 salespeople (both field reps and inside sales reps,) generating $20 million/year and serving 6,000 customers.

As a speaker, Paul has presented at law firms, CPA societies, professional associations, and colleges such as Harvard Business School, Northeastern University, Babson College, Bentley University, Wheaton College (MA), Emerson College, Wellesley College, and Salem State University (MA).

Paul has a Bachelor of Science from the D’Amore-McKim School of Business at Northeastern University in Boston. Paul is an avid golfer, splits his time between Boston and Cape Cod, and is married with two adult daughters.

ESOPs Explained: Bridging the Wealth Gap with Chris Coates [Ep. 155]

ESOPs Explained: Bridging the Wealth Gap with Chris Coates [Ep. 155]

What if your employees could help drive your business to new heights while investing in their own financial futures? 

Uncover the power of ESOPs now!

Join host Larry Heller, CFP®, CDFA®, as he discusses the intricacies of ESOPs with Chris Coates, a skilled professional in business transition strategies. With over 30 years of experience, Coates offers an in-depth look at how ESOPs work, the benefits they provide, and why they are a compelling option for many business owners. 

Key Points Covered:

  • Understanding ESOPs, including their basics and role as retirement benefits for employees
  • Significant tax advantages of ESOPs for both C and S corporations, including potential legislative changes
  • Ways ESOPs foster employee loyalty and incentivize employees to act like owners
  • The role of ESOPs in leadership succession and long-term business sustainability
  • How ESOPs enhance employee retirement benefits alongside existing 401k plans
  • A balanced look at the pros and cons of ESOPs for business owners and employees
  • Plus, additional insights into maximizing the benefits of ESOPs!

 

Connect with Chris Coates:

Connect with Larry Heller: 

About Chris Coates:

In his role as Vice President, Chris advises companies, owners and other stakeholders on business transition strategies, with a particular focus on ESOP ownership transactions. He has extensive deal shaping, negotiation and operational management experience that provide him with a unique perspective on the opportunities and challenges of companies seeking to implement employee ownership.

Prior to joining SES ESOP Strategies, Chris was a Managing Director with Accenture, a global consulting firm. During his 30-year career he has worked with various industries, including life sciences, utilities, consumer products, financial services and health and public service. In his most recent role as Commercial Director, Chris oversaw all operational aspects of sales and delivery to large, complex and global clients. This included oversight for the financial, legal, human resources and business operations aspects of the relationship.