Don’t Let Your Key Employees Jump Ship
Monday, 23 November 2020
by Business Exit Planning
Next-level management teams are the drivers behind building business value. But how can you and your advisors attract and keep next-level management teams? The answer lies within incentive plans. When incentive plans are properly designed and implemented, your business has the potential to grow well after you sell. Well-executed incentive plans can motivate each member
- Published in Exit Planning
If You Don’t Uncover the Skeletons in Your Closet, Your Buyer Will
Monday, 23 November 2020
by Business Exit Planning
Starting the preparations to sell your business is never easy. Selling or buying a business comes with mixed emotions and hard decisions. There are a lot of variables to consider. One action item to discuss early is the process of due diligence. In order for you to attract a buyer to your company, you must
- Published in Exit Planning
Growing Business Value When Times Are Tough
Thursday, 22 October 2020
by Business Exit Planning
In times of great uncertainty or disruption, some business owners will panic and bury their heads in the sand. Some will sit tight and wait for things to settle down. But others will try to create opportunity and future growth. Which will you be? We’re here to help you be the latter. Minimize Tax Exposure
- Published in Exit Planning
Does Your Spouse Feel Left Out of Key Business Decisions?
Thursday, 22 October 2020
by Business Exit Planning
Sometimes when planning the next chapter in your life, the most important people somehow feel left out. Deciding to transition out of ownership of your business is one of the most important decisions a business owner can make, so it only makes sense to include your loved ones in that planning. How Will Your Spouse
- Published in Exit Planning
Realistic Timelines
Thursday, 22 October 2020
by Business Exit Planning
Global economic disruption uniquely affects each business. Whether you are being hit with a hammer or expect to suffer a slow burn, your reaction to changes and proactive planning will play a major role in how your future unfolds. Signals indicate that once we start to get COVID-19 under control, the world economy will begin
- Published in Exit Planning
Identifying “The Gap”
Thursday, 22 October 2020
by Business Exit Planning
Business owners have a lot of information at their fingertips. There are calculators and assessments available for just about every aspect of your business and personal situation. As a result, many business owners think they have an accurate idea about the value of their business. They may even think they have an idea of where
- Published in Exit Planning
Where Transferable Value Comes From
Thursday, 22 October 2020
by Business Exit Planning
One of the most important elements of a successful business transition is transferable value. No matter what an owner sees for the future of the business, transferable value can be the common denominator that makes all goals more achievable. What is Transferable Value Transferable value, for a closely-held business, is most simply what a business
- Published in Exit Planning
Where to Start
Thursday, 22 October 2020
by Business Exit Planning
When we start any important project, it is common to choose to plan in phases. Sometimes we choose to plan in phases because there is a certain aspect of the project that we consider to be more urgent than others. Maybe it can be overwhelming to try to focus on the big picture. Regardless of
- Published in Exit Planning
Rethinking Cash Flow
Thursday, 22 October 2020
by Business Exit Planning
While there are many uncertainties when planning for the future, one factor that is almost always essential to the success of your future plans is cash flow. Measuring your company’s cash flow and knowing what aspects of your business can be affected by the health of your cash flow are even more crucial in today’s
- Published in Exit Planning
Ingredients to Jumpstart the Planning Process
Thursday, 22 October 2020
by Business Exit Planning
Taking on any large project can be manageable when you have a reliable process in place. When deciding to exit your business, for example, you will need a proven process in place to ensure you have covered all the bases. Just like baking, without following the specific process or recipe, you could end up setting
- Published in Exit Planning