We provide a broad range of services to business owners to support their business transition objectives.
For most Business Owners, their business is by far their largest investment. Yet, many spend very little time and effort in preparing for the eventual transition of their business. Unlike selling other major assets like a house or other real estate, the planning for a sale or transition of a business needs to begin many years in advance. Many of the key decisions in the life of a business should take into account the exit objectives.
Why do so few businesses that go market never sell or fail to meet the Business Owner's objectives? It comes down to Readiness--both Business Readiness and Business Owner Readiness.
Exit Planning entails a review and development of a business transition plan taking a holistic approach. It needs to address both the business and the Business Owner(s)' personal and financial goals. We address both of these critical components in our Exit Planning Process.
Most Business Owners vastly underestimate the complexity of preparation required to move from the development of an Exit Plan to the ultimate execution of a sale or other business transition transaction.
An Exit Strategy and associated plan should typically address the following (among other things):
The price and value of a business is what a willing and able buyer is prepared to pay. It is not what the business owner thinks the business is worth. As such, we encourage and help Business Owners look at their business from a Buyer's perspective. Among other things, this entails a look at the following:
Once a business is ready to enter the transaction phase, we assist with many of the facets of managing the transaction process, including the following:
Building and Executing an Exit Plan requires input and involvement from several different professionals. We help coordinate the activities of the various professionals to facilitate consistency and efficiency (and hence cost effectiveness).
One of the risks to be managed once a Business owner has decided to sell the business, and is entering the transaction phase, is remaining focused on the business. A substantial amount of value can be lost if the owner gets distracted physically and psychologically during this process. We help ensure that there is an appropriate balance between attention to the transaction vs attention to the business.
Why would a successful owner with so much to gain from an orderly exit bury their head in the sand? The answer is, they have not answered the critical questions to take their exit seriously. Discover the 5 essential questions every Business Owner should address upfront to ensure a happy and successful Exit.
PREScore™ (or Personal Readiness to Exit Score) is a short online questionnaire that evaluates a business owner’s readiness to exit their company on a personal level.
Using an exclusive algorithm, PREScore™ calculates an owner’s readiness by identifying their status on 4 drivers
of a satisfying exit. PREScore™ determines the at-risk areas and provides personalized recommendations for improvement, helping owners create a personal plan that ensures a happy and lucrative exit.
If you’re like most business owners, your desire for freedom is hardwired into your psyche. Selling your business may seem far off into the future, but if exiting your business now would give you the financial resources to do whatever you want, it may be worth considering sooner than feels natural.
This eBook offers a simple methodology you can apply to reach financial independence – what we call The Freedom Point
Sooner or later, every owner leaves his or her business. Whether you anticipate selling the company to a third party, transitioning to employee ownership, or a family succession, every strategy results in your eventual exit. The complexities of tax law, combined with the expectations of buyers of any type, lend themselves to careful structuring of a transfer.
For most owners, transfer of ownership represents the biggest single financial transaction of their lifetime. In our experience, no owner has ever said, “I spent too much time planning.”
Why start now? There are two good reasons to begin the planning process, even for those who believe they are ten or more years from their eventual exit. 1. Once you know your exit objective, it will influence all of your business decisions, from your organizational and hiring plans to your business strategy and operating practices, and 2. Many tax reduction strategies, such as business structure conversions, certain trusts and others, take years to fully implement
How do I get started?
Set aside 15 minutes to take the first step by completing an Assessment here. The Assessment is a multiple-choice questionnaire which does not ask for confidential or financial information. We respect your privacy and will not share your information.
The Assessment looks beyond your retirement goals. Helping you reach your objectives requires a knowledge of your business and the state of your company.
What will I get when I take the Assessment?
1. A 12-page summary of your responses will be emailed to you within one business day. It is organized into four key areas of exit readiness: planning, finance, revenue/profit and operations.
2. A 40 page detailed Analysis of your responses will be provided as part of your complimentary debriefing.
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