You’re going to exit your practice someday. The real question is: will it be on your terms?
In NSA’s recent webinar “Plan Your Best Exit for You and Your Clients,” Jim Haviland and Scott Sommers of FirstOS walked members through the emotional and financial realities of succession planning—and the often-overlooked distinction between building revenue and building value in a business.
Why Exit Planning Starts Now (Even If You’re Not Ready to Sell)
Too many small firm owners spend decades growing a practice only to discover—too late—that it’s not worth what they thought. As Haviland bluntly put it: “You’re going to exit—vertically or horizontally.” Planning ahead is what gives you options.
According to the presenters, 80–90% of an entrepreneur’s personal wealth is often tied up in their business. If the business isn’t positioned as a transferable asset, the outcome can be a disaster for both owner and family. That’s why the duo emphasized the importance of thinking about value creation long before you’re ready to exit.
What Builds Value in a Business?
Value isn’t just about the numbers. FirstOS focuses on eight core dimensions of business value, including:
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Human, structural, customer, and social capital
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Recurring revenue and systemized processes
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Clarity of financials and growth potential
Quarterly check-ins to improve these areas—“rocks,” in the EOS/90OS methodology—can meaningfully increase both profitability and salability over time.
The 3-Step Framework for Planning
The FirstOS team breaks down their exit planning assistance into three digestible phases, offered to NSA members at discounted rates:
What: A self-service valuation tool that benchmarks your business and highlights gaps across eight dimensions.
So What: Personalized insights about what that data means for your business and goals.
Now What: Actionable strategies and resources to close the value gap—and if needed, referrals to trusted advisors for further help.
And yes, the tools can be used not just for your own firm, but also for clients who may be nearing retirement and haven’t yet faced the realities of succession planning.A Free Member Resource and Support Network
NSA members have access to a free introductory course on exit planning from FirstOS which can be found here. The course covers the fundamentals discussed in the webinar and introduces the full set of support tools available to you. You can also refer clients to these same resources via affiliate partnerships (coming soon).