Planning Your Exit

As a business owner, when should you start planning for transition? or, what you might have previously called “business succession planning”? Well, it is never too early. Don’t put it off until the time you finally think about retiring or selling. It can take years to get all the pieces in place, depending on your personal financial situation and the quality of life you desire after business. Like any form of wealth creation, the more time you have to build your assets the more wealth you can accumulate.

The same principles apply to your business, but rather than simply relying on dividends or other investment income you should focus on building the value of the business, so that when you are ready to transition out, you can fully monetize your asset. In our experience, many business owners think that they know what they want but they typically haven’t sat down to discover their value drivers what they really important to them post business exit. Use the resources on this site or better yet contact one of our experts to begin the process.

PLANNING RECENT ARTICLES

When to think about your business exit?

Written By: Stephen Reisler

It may seem counterintuitive to joke about throwing in the towel with the business success you’ve enjoyed thus far, but the truth is that not every business is able to succeed forever. So many business owners seek the advice of others on how to try harder, work smarter, or to do things differently in order that their businesses remain resilient and are more relevant.

Business Continuity – being prepared in case something happens to you

Stephen Reisler, BusinessExit.com

What happens to your business tomorrow if something were to happen to you today? Life happens and we cannot stop it – accidents, sickness, disease, and death happens daily. None of us are protected against ‘life’ but you can take the necessary steps to protect the business by creating a documented CONTINUITY PLAN.

Selling Your Business – Be One of the Rare Winners!

Terry Shepherd, BusinessExit.com

According to Chris George from George & Company, an intermediary located in Worcester, less than 10 percent of business owners who contact his company have sufficiently planned ahead. The contact is usually spurred by an event, such as death, illness, partner disagreement, etc. His experience is pretty consistent with national surveys our company has conducted over the years.