Exit Planning

What is An Exit Plan?
An exit plan is a comprehensive road map that spells out the exact steps you must take to successfully exit a privately held business.  It asks and answers all the business, personal, financial, legal and tax questions involved in selling a privately held business.

Its purpose is to maximize the value of the business at the time of exit, minimize the amount of taxes paid and ensure that the business owner is able to accomplish all his or her personal and financial goals in the process.

Step One — Establishing Owner Objectives
1. When do you want to exit

2. How much money you want when you leave

3. Who you want to leave the business to

Step Two — Establishing Current Business Value
Step One establishes what you want or need in order to leave your business in style. Step Two determines what you have — how much is your business worth? If you’re selling to a family member, key employee or co-owner, future cash flow (for reasons you will learn) of the business after you leave it, is even more important than value.

Step Three — Increasing the Value of Your Business
What features, or characteristics, are necessary to make your business saleable and valuable? These features (Value Drivers) either reduce the risk associated with owning the business or enhance the prospects that the business will grow significantly in the future. Find out what they are.

Step Four — Sale to a Third Party For Top Dollar
If your goal is to sell to a third party, learn how to do so for top dollar.

Step Five — Transfer To Management or Family Members
A sale to insiders does not end with the closing. Only when your price is paid in full does the transfer end. Learn how to orchestrate a successful sale to insiders who often lack sufficient cash.

Step Six — Developing a Contingency Plan for the Business
But business continuity is much more than simply making sure there is a new owner. If you die or become disabled before your exit is complete, your dream of financial security will become unattainable. Learn how Business Continuity is done whether or not you have a co-owner

Step Seven — Wealth Preservation Planning
The sale of a business generates cash. Cash for you, your family and the IRS. Learn how to minimize the IRS’s share.

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