I’ve recently had several clients successfully exit their businesses by transferring to a family member or key employee. Is transferring to an insider a consideration for you? The benefits are many. Most important is that this choice gives you a great deal of control over the exit process and therefore your ability to define your …
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After completing assessments and documentation, choosing her exit date, and working with me to develop an exit strategy, one of my clients is now in the process of executing that strategy. Her primary focus at this stage is on evaluating and optimizing the performance of the value drivers that impact her business. Enhancing performance in …
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One of my clients wants to sell her business and retire in 10 years. She completed our online Owner Planning Checklist which got her thinking about next steps. Since then, she has chosen her exit date, thinks she’d like to sell to an outside, third party, and has documented foundational information about her company and …
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All business owners know they will eventually exit their business, and most understand that making it happen on their terms is a process that typically takes years. Yet, as is the case with any complex project, sometimes the hardest thing to do is start. Yet, starting is as simple as choosing your exit date! I …
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If your exit plan includes selling your business, you can likely expect the potential buyer to request a Quality of Earnings Report. Obtaining a Quality of Earnings Report (QER) is one of the major steps in due diligence that a prospective buyer will perform to determine the quality of assets and identify financial shortcomings of …
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Regardless of the industry, number of employees, annual revenue, or the product or service you offer, if you own a business you have three things in common with every other business owner: You don’t want to pay more taxes than you absolutely must. At some point, you WILL exit your business. When you exit your …
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The challenges we’ve faced throughout 2020, both personally and in business, are unprecedented. We’ve all invariably met struggles but have found opportunities as well. I’d like to share three things I’ve learned during this crazy year that relate to business, but that also speak volumes about the human spirit. These insights arose primarily from the …
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Many business owners feel shaken by the impact of the pandemic on the business climate and may be questioning whether their vision of the future is still possible. One of the best antidotes to uncertainty is having a solid plan! It’s never the wrong time to start exit planning, and the more lead time you …
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The Exit Planning Peer Advisory Board (PAB) provides a safe place for business owners to discuss their challenges and offer support and insights to their fellow members. A look back at the last few meetings reveals another layer of the group’s value. The events of this year have put businesses and their leaders to the …
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“Expect the best. Prepare for the worst. Capitalize on what comes.” – Zig Ziglar At our July Peer Advisory Board (PAB) meeting on Exit Planning, the discussion was around what business looks like as we re-emerge and get back to business in this phase of the COVID-19 pandemic. We focused on addressing what responsibilities business …
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