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Welcome to the Washington Avenue Advisor's Legacy Lab,  a comprehensive toolkit designed to guide

entrepreneurs and business owners through the intricate journey of building, scaling, and ultimately

leaving a lasting legacy with your business. This six-part toolkit offers invaluable resources and

strategic insights, ensuring that you're well-equipped to navigate the complexities of entrepreneurship.
 

Embark on your entrepreneurial journey with the Washington Avenue Advisor's Legacy Lab, and empower yourself with the knowledge and tools needed to create a lasting impact with your business.

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1. Introduction to Legacy Lab

This foundational component helps entrepreneurs identify potential growth opportunities within their business. Through comprehensive assessments, it guides users in evaluating their readiness for an exit, the attractiveness and preparedness of their business, and their personal readiness for the transition. 

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2. Understanding Value

Dive into the intricacies of business valuation with this component. View your business from an investor's perspective, understand the distinction between driving income and driving value, and explore various valuation methods. This section sheds light on financial aspects such as EBITDA, industry-specific multiples, and the identification of gaps in key areas like Profit and Enterprise Value.

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3. Maximizing Value

As a business owner, every decision you make has a direct impact on the future of your company. In a world full of competing priorities, it’s essential to identify which choices are most effective in driving long-term value. Your business is more than just a paycheck—it’s an investment that should ultimately yield a return for you and your future. Maximizing that return requires a clear understanding of what truly makes your business valuable.

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4. Keep or Sell

Delve into the decision-making process of whether to keep or sell your business. Understand the types of buyers, explore the specifics of inside and outside sales, and evaluate options such as generational transfer, management buyout, ESOP, and more. This component guides users in contemplating deal structures, including holdbacks, financing, non-compete agreements, and considerations for personal life legacy after business.

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5. Leaving a Legacy

Explore "Leaving Your Legacy" in the Legacy Lab toolkit, where business transcends finances. This component encourages entrepreneurs to reflect on a personal life legacy through a stimulating blog. Acknowledging legacy building as an ongoing journey, it emphasizes annual resets with the toolkit, reinforcing that a lasting impact requires continual effort, reflection, and strategic planning.

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6. Stay Connected

Entrepreneurs can find support and resources in this component. Connect with advisors and explore strategic partners for guidance. Engage with the Leadership Talks Series and Flying with Founders Podcast for insights and inspiration. Participate in WAA Focus Groups, register for webinars on various business topics, and subscribe to Legacy Lab alerts to stay informed about the latest updates.

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© WAA 2023

Tel: 844-678-1842

Headquarters:
1146 South Washington Avenue

Lansing, MI 48910

Raleigh Office:

2500 Regency Pkwy

Cary, NC 27518

Las Vegas Office 
2300 W Sahara Ave #800

Las Vegas, NV 89102 

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