Get The Most Out Of Your Business
Business Exit Planning and Strategy
A transition plan is a comprehensive blueprint for successfully transitioning out of the operations through succession planning or ownership by the sale of a privately held business. A transition plan asks and answers the business and personal questions inherent to transitioning out of a privately-owned business on your terms. The purpose is to maximize the value of the business, minimize taxes, and ensure the business owner accomplishes his or her personal goals for being in business in the first place.
The steps included are a current evaluation of the personal and business situation, business valuation, personal and business goal assessment, alignment, and value enhancement.
Even if you do not want to transition out now, you should be developing an exit strategy for that time. The average duration of transition – including planning, value enhancement, and positioning – could take 3 to 5 years to complete. Shortcuts can drain value and reduce the proceeds available for life after business. Getting an early start preserves value, creates opportunity, and allows you to transition on your terms.
Let’s begin by discovering the roadmap necessary to position your business and you for a smooth transition out of your business.