When a client chose a date ten years out for her expected exit, she asked about next steps for developing and working an exit strategy. We started by documenting foundational information about her company and her desire to sell to an outside third party. She had the value of her company assessed and determined what …
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My first suggestion to business owners who want to start exit planning is to pick a target date for their exit. Their next question is, “Now what?” My advice – get an accurate determination of the current value of your business, forecast the amount needed to meet your financial objectives upon and after your exit, …
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Last month I was one of three presenters at a Lunch & Learn for business owners. The content focused on maximizing the value of one’s business, either in preparation for sale or exit, or as part of a growth strategy. Along with two colleagues, Ken Galecki and Rick Arthur, we shared our expertise for takeaways …
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Accurate, timely financial statements are critical to all aspects of business, from day-to-day operations to informing major decisions. Yet even the most thorough financial documents are of little benefit if you don’t understand how to read and interpret them. Developing the skills needed to decipher your financial statements was the focus of discussion at our …
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Bryan Schwartz, founder of Schwartz Law, LLC, was our guest speaker at a recent Exit Planning Peer Advisory Board meeting. He spoke to the group about the benefits of a legal audit and how to prepare for one. A legal audit, which equates to a legal check-up for your business, is recommended at various stages …
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The Tax Cuts and Jobs Act (TCJA) of 2017 was signed into law on December 22, 2017. Some provisions have expired, some are set to expire in 2025, and others will endure through this year, assuming the TCJA is not renewed. An understanding of these provisions will be helpful as you navigate 2025 and do …
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If maximizing the value of your business is on your mind in 2025, you’re undoubtedly working to set and measure goals. Since you aren’t alone in this quest, we kicked off our first Exit Planning Peer Advisory Board meeting of the year with a focus on Key Performance Indicators (KPIs). The members of the group, …
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Reserve your spot today for the January 15 KPI Planning Session!! For quite a few years, I’ve facilitated an Exit Planning Peer Advisory Board (PAB) of business owner peers. Through those years, it has evolved significantly based on the needs of participating business owners. We’ve flexed our focus based on what companies prioritize and what …
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2025 is just around the corner and business owners are busy planning for a new year, again facing unknowns – politically, economically, and globally. Here are three critical elements of your business that deserve your focus. STRATEGY As you plan for the new year, take time to reflect upon what is at the foundation of …
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Whatever your business or its size, tracking progress against your goals can help you better understand where to focus your attention. Taking time to identify the critical levers that drive your business is the first step. Key Performance Indicators (KPIs) are measurable objectives that align with specific strategic goals for a defined period of time. …
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