Whether your focus is on building your business now or planning for an exit down the road, there’s obviously a lot you need to know. As a business owner juggling a multitude of priorities, you may wonder… where do I even begin? Every business owner needs a guide when it comes to planning for what …
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Whether you are focused on growing your company in the present or preparing for your eventual exit, your success on both fronts hinges on maximizing the value of your business. Every business owner will eventually exit – whether it’s planned or not. Savvy business owners recognize this truth and work towards closing the gap between …
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We kicked off our most recent Peer Advisory Board meeting with a special presentation focused on four topics that can help business owners hone their most valuable asset: people. Our guest speakers, Scott Barth and Leeanne Super, shared their expertise about ways a multi-generational workforce, motivation, recognition, and ownership thinking play into the success of …
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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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Exit planning is focused largely on optimizing the value of the business, which means you need an understanding and a focus on value drivers. Why is this necessary? The initial steps in an exit plan are straightforward: Choose an exit date. Document foundational information about the company and your exit objectives. Obtain a current valuation …
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A look back at this year brings to light three significant areas in which – as a result of their participation in the Exit Planning Peer Advisory Board (PAB) – our members saw positive differences in their companies and in their growth as business owners. Consider these elements as you build a solid foundation for …
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Maximizing the value of your business is the focus of a good exit strategy. It logically follows that a focus on value optimization should be built into your overall business strategy and how you run your business. Leading management consulting firm, McKinsey & Company, has developed a model for a comprehensive approach to value-based management (VBM). They assert …
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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, not only as they relate to exit planning but to their businesses today. A look back at the past year brings to light three significant areas in which …
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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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