Good Exit Planning gives business owners control over how and when they exit their businesses. It puts the Business Owner in the driver’s seat to maximize the value of the business and turn that value into wealth beyond income.
The exit planning process seeks to address all the business, personal, financial, legal, and tax questions related to the eventual ownership transition of the business. Businesses transition for various reasons, including retirement, burnout, illness, divorce, partner disputes, acquisition, mergers, and death of the owner. All businesses will transition in some manner, at some point. Smart owners get ahead of that eventuality with forward thinking strategies to maximize the value of the company, minimize unnecessary tax burdens, and aligning their own personal and financial goals with those same strategies.
An Exit Planner works with an Owner, and often the Owner’s advisors, to coordinate efforts toward the common goals. In measurable processes, the Exit Planner works to improve the value, market attractiveness, and readiness to sell.
If you are like most Business Owners, your business means everything to you. Your business is your most important asset, and it is vital to plan ahead before its time to sell or exit. If you want to achieve the optimal outcome, the first step is to consult with a Certified Exit Planning Advisor.