Succession Strategy for Founders to Exit Right and Start Their Next Venture with Jon Morris Part 2

This GPT has already supported hundreds of multi-generational businesses through complex transitions, and I’ve translated that experience into a free Custom GPT available on our website. Explore it here: https://bit.ly/art-of-succession-our-GPT ------------------------------------------------ Want to be a guest on our podcast? Apply and share your expertise with our audience at https://www.podmatch.com/member/artof... ------------------------------------------------ Welcome to Part 02 of The Art of Succession Podcast. Host Barrett Young, CPA, continues his conversation with Jon Morris, Chief Executive Officer at Fiscal Advocate, Inc., and Founder and Executive Director at The Professional Service Community. In this episode, Jon shares why he started a new company soon after exiting Rise and why building and advising businesses remains exciting for him. He explains how companies can move from financial stress to strong profits by focusing on cash, margins, and clear benchmarks. Jon also discusses why many owners struggle to follow financial guidance, the importance of honest planning and realistic growth goals, and how new tools like AI are changing the way financial insights are delivered to business leaders. Jon explains why he chose to start another company shortly after exiting Rise and why building and advising businesses continues to motivate him. He and Barrett discuss how detailed financial analysis and clear benchmarks help companies move from financial stress to stronger profits. Jon shares how breaking down expenses and focusing on gross margin helps leaders understand where their business is losing money. He also talks about why many owners struggle to follow financial guidance, how careful vetting helps him work with the right clients, and why focusing on building a great business is more important than planning an early exit. Key Takeaways: 1. Jon says companies improve profits by focusing on clear benchmarks and cost control. 2. He explains that breaking down expenses helps leaders see where money is being lost. 3. Jon stresses that owners must follow financial guidance and make tough decisions. 4. He highlights the need for realistic revenue planning instead of optimism. 5. Jon believes building a strong business matters more than chasing a quick exit. Here are a few quotes from the episode: “I get into granularity and analyse what you should be spending across the business.” - Jon Morris “The ultimate boss is the income statement.” - Jon Morris “Focus on building an amazing business and the exit will take care of itself.” - Jon Morris Join Jon Morris, Chief Executive Officer at Fiscal Advocate, Inc., and Founder and Executive Director at The Professional Service Community, as he shares why he chose to start another company after exiting Rise and why building businesses still excites him. He explains how clear financial benchmarks, careful analysis, and disciplined decision-making can help companies move from financial stress to stronger profits and long-term growth. Episode Highlights [00:00] - Welcome to Part 2 with Jon Morris [01:09] - Starting a new company just three weeks after exit [04:19] - Turning around a near-bankrupt company [08:17] - Unbundling payroll to find true costs [11:29] - Transitioning from $40M CEO to startup founder [15:37] - The importance of vetting clients [18:15] - Operating in a low-growth industry [20:39] - Creating wind in a low-growth industry [25:06] - Why you shouldn't start with the exit in mind [29:04] - Lightning round begins [33:16] - Legacy and doing the right thing [35:25] - Where to find Jon online FOLLOW THE GUEST: Jon Morris - LinkedIn:   / jonmorrisramsayinnovations   Company Website (Fiscal Advocate, Inc.):   / fiscal-advocate-inc   Company Facebook (The Professional Service Community):   / the-professional-service-community   Email: [email protected] FOLLOW THE HOST: LinkedIn:   / barrettyoung   Company LinkedIn:   / gwcpa   Website: https://gwcpas.com/ Email: [email protected] FOLLOW THE PODCAST: Apple Podcast: https://podcasts.apple.com/us/podcast... YouTube:    / @artofsuccession   Spotify: https://open.spotify.com/show/7uhogBx... LinkedIn:   / art-of-succession-podcast   Website: https://gwcpas.com/podcast