Exit on Your Terms
When it comes to Business Planning, only one outcome is 100% certain – you will leave your business one day. The question simply is through which door?
- Sell or transfer it to an insider (partner, family member, or key employee).
- Sell it to an outsider (a strategic buyer, Private Equity firm, etc.).
- Keep it until death and have it pass according to your estate plan.
You may have a preference, but it’s important to consider that this may not materialize. Therefore, it’s important to be ready for more than one option. And when you do sell, what’s next?
- Have you positioned the business and the new owners for success?
- Have you considered how to minimize the tax consequences of the sale?
- Will you be able to use the net proceeds to fill in your wealth gap?
- Perhaps most importantly, do you have a plan for your life after the sale?
Many businesses don’t sell for their ideal value because the owner didn’t spend enough time on all three legs of the stool: Business Planning, Personal Planning, and Financial Planning.
Let us help you figure these out so you can realize the full potential of your life’s work.