Why Most Consultants Retire Broke (And How to Avoid It)
In this episode of The Art of Succession podcast, host Barrett Young interviews Stephanie Hayes, exit strategist and investor in multiple businesses. Listeners will discover how to transform their business from a revenue-chasing hamster wheel into a valuable asset that can eventually be sold.
The Revelation That Changed Everything
Stephanie's journey began during a client retreat in Texas when she had a powerful realization while staring at a wall of her accomplishments. Despite years of consulting experience and advanced degrees, she felt like she wasn't building anything of lasting value. After losing her house in a divorce and facing expensive real estate markets, she recognized that her service-based business left her constantly chasing revenue without creating transferable wealth. This moment sparked a complete shift in how she approached business building.
From Revenue Focus to Asset Building
Rather than continuing the exhausting cycle of trading time for money, Stephanie developed a framework around nine types of business assets that most owners completely overlook. She discovered that businesses could build valuable assets through productized services, creative work, audience lists, recurring revenue streams, intellectual property, strategic partnerships, and brand value. This wasn't just theory - Stephanie began acquiring businesses herself, including purchasing a company from one of her former clients for strategic assets rather than traditional equipment.
The Nine Assets That Transform Business Value
Stephanie's approach helps business owners identify hidden value within their existing operations. A content creation agency's internal processes become licensable frameworks. Marketing materials transform into sellable creative assets. Client relationships become valuable audience assets. Even a simple subscriber list represents eyeballs that buyers will pay for. The key insight is shifting every business decision through the lens of asset creation rather than just immediate revenue generation.
🎙️Full show notes, guest information, and video version of this episode available at https://gwcpas.com/blog/aos-stephanie-hayes
✍️ Leave feedback for the show. I’d love to hear your input https://quark-fir-a64.notion.site/1d9dd04222f380ae96c9caae27bc1c66?pvs=105
The Art of Succession Podcast is brought to you by GWCPA. Twice a month on https://www.youtube.com/@gwcpas, CPA and Partner Barrett Young explores the emotional and strategic challenges of leadership transition, offering honest insights and actionable advice for successors and founders.
If you've enjoyed this episode, please share it with others. It truly helps.
Disclaimer: This podcast is for informational purposes only and does not constitute legal, tax, or accounting advice. You should consult your own advisors before making decisions related to your situation. If you don’t have an advisor yet, reach out!
