Exit planning
Align your business, financial, and personal goals, while working to harvest the wealth from your business.
The Three Legs of the Stool
Exit Planning requires a thorough analysis of your business, your finances, and your goals.
Your Business:
- Is it ready to sell?
- Does it require changes before selling?
- Is the due dilligence info in place?
Your Finances:
- Do you have a personal financial plan in place?
- Will the sale of your business complete your financial plan?
- Are there gaps in the value of your business or your personal finances, that need to be addressed before selling?
Your Goals:
- What are you going to do next?
You have spent a long time working and running your business — this last question may be the most important question of all.
Call us and let’s start a discussion today.
The three areas of Exit Planning all require a thorough and honest approach, if you want to have a successful transition from your business. If any one of the three areas is not addressed completely, you may end up with a transition that fails to meet your expectations.
Your business needs to be ready to sell. There is a difference between wanting to sell and being ready to sell. The books must be in order, the due diligence gathered and in place, a trasition plan for the next owner should be laid out and a valuation should already be done.
Are all the decision makers on board? Are all interested parties in alignment on the goals?
Have A Personal Financial Plan
Your personal financial plan should be complete. An accountant and financial advisor should have already provided their input so that you maximize your earnings and your return on those earnings moving forward. Any gaps in your financial plan should be addressed well in advance of your transition.
The First Day of the Rest of Your Life
And while it may not seem as important; the final question of your personal goals may be the most important part of the plan. Many a transition has taken place only for the seller to realize that they don’t have a good idea of what they want to do next. You absolutely must have an idea of what you are going to do on the day after you make the transition, also known as the first day of the rest of your life.
Get In Touch
Jim's Cell: 770-757-5431
Phone: 513-755-4400
Location
5700 Gateway Blvd.
Ste. 200
Mason, OH 45040
bizcrebroker@outlook.com