Exit planning is essential to your success

The way you exit your company is one of the most important decisions you’ll ever make. Do you want to feel confident that all of your hard work paid off and that you received a fair value for your business? It is quite common for small business owners to get caught up in working in their business rather than actually working on it. This translates to tax overpayments, lower prices for their businesses, or both.

The Power Of Planning 

An exit plan is a clearly defined strategy that identifies the actions to be taken so that you can exit your business successfully and without regrets. It also maximizes your company’s value, minimizes the taxes, makes the business more attractive to potential buyers, and ensures a seamless sale process. 

An exit plan increases the value of a business by identifying areas that can be improved and clarifying those that cannot. 

Our exit planning includes the specific strategies that need to be put in place when a business owner is preparing to exit the business: 

1. Business owner’s objectives & goals
2. Exit strategy 
3. Business valuation 
4. Business operations review
5. Strategies to increase business value 
6. Clean up financial statements 
7. Address potential buyer concerns: a high concentration of revenue in a few customers; outstanding lawsuits; business depends excessively on one employee; low customer retention/satisfaction rates; employee turnover;
8. Strategy to increase business value 
9. Business continuity plan
10. Wealth preservation

Additionally, exit planning is important in order to anticipate and prepare for any issues or risks that could arise during the exit process. The business seller will have to overcome these issues before the exit can be completed, causing delays in the exiting process.