Exit Planning

Once you have an understanding of the value of your business, you can better plan and prepare for life beyond the business. The sale of your business is typically a once in a lifetime event and it should be approached as such. However, the statistics show that owners have not approached it in this manner. According to the Exit Planning Institute through their State of Owner Readiness surveys:

50% of owners have done no planning at all (business or personal)

60% of owners do not understand their exit options

30% of owners have no transition plan in place

80% of owners have not formed a transition advisory team

An advisory team comprises experts in distinct fields all working towards your successful transition. Financial advisors can provide guidance on the amount of after-tax liquidity needed to live the desired lifestyle. Estate planners can help to effectively provide for dependents and loved ones. The M&A attorney will guide the transaction and ensure your interests are represented and protected. An exit planning advisor serves to bring the team together so that everyone is communicating and working together towards the same goal on the owner’s timeline.