Ten Exit Planning Benefits
Someone’s sitting in the shade today because someone planted a tree a long time ago. — Warren Buffett
Few would argue that a successful retirement takes more planning for a business owner than it does for other people.
Whether you intend to transfer your business to family, management or a third party, an exit plan is usually intended to produce a more successful exit and retirement. Here at Exit Strategies, an “Exit Plan” (or succession plan) means analyzing your business and planning how and when to exit ownership and employment, while maximizing value, reducing risk, and preserving wealth.
Ten Exit Planning Benefits
- Clarifies your best transfer option and timing
- Identifies value and marketability gaps
- Increases shareholder value
- Positions the company to attract more and better buyers
- Ensures business continuity
- More seamless leadership transfer
- Increases cash proceeds
- Minimizes taxes
- Minimizes financial risk
- Prevents costly mistakes
On a personal level, an exit plan re-energizes you and gives your work greater purpose. It clears and settles your mind, focuses your attention, and reduces your stress and anxiety.
In Exit Strategies’ experience, business owners rarely have the time or expertise to tackle this on their own. This is where we come in. To start with, we’ll objectively analyze your business and help you increase its value and marketability if gaps exist. We’ll coordinate with your tax, legal and estate planning advisors. Then, when the time is right for you and your family to sell, you’ll be ready, and the outcome will be successful. Ideally, we’ll start working together two, three or even five years before you’re ready to sell. The earlier we get involved the more impact we can have.
For more information on our exit planning services, and the approximate costs, timeframes and the typical return investment involved, Email or call Al Statz at alstatz@exitstrategiesgroup.com or 707-781-8580. Our discussion will remain confidential.
