The Business Owner's Dilemma: Exit on Your Own Terms
Every Business Owner's Dilemma: You will leave your business someday. It is inevitable. That departure will be the largest and most critically important transaction of your life. It will be complex and intensely personal - and you only get one chance to do it right.
Exit Planning is a multi-disciplinary process for creating and executing a strategy for you to transition out of your business on your own terms, i.e.:
At the time you choose;
With the cash to support your chosen post-business lifestyle;
With the business in the hands of your chosen successor(s);
With your "value-based" goals achieved, e.g., keeping the business in the community.
For more information read the Exit Planning FAQs.
7-Step Exit Planning Process
Using a proven 7-Step Exit Planning Process™, I lead a team consisting of the other professional advisors whose expertise is necessary to design and implement a plan that will meet the owner's needs. Issues are identified and solutions are proposed. Those that "make the cut" are consolidated into a "Business Owner Roadmap," a detailed strategy which includes specific recommendations for achieving the owner's goals. (If you are a professional advisor interested in how this process can benefit you, see Opportunities for Professional Advisors.)
Benefits to Owner
Benefits to Owner Include:
Maximum value for life's work;
Tax and other risks of the transfer minimized;
Controls business until financial objectives met;
Controls process but is freed to focus on exit decisions and continued operation of the business.
Learn more about the 7-Step Exit Planning Process.
The Exit Planning Review© is a twice monthly e-newsletter for business owners and their advisors. Each issue discusses a topic affecting business owners who must plan for likely the single most important financial event of their lives - the transition out of their business.
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