Exit strategies for your family business

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After many years of hard work and most likely plenty of sacrifices, many family business owners look to reap the rewards of their efforts over the years. While many will be ready to move on to the next phase of their life, there are a myriad of issues that will need to be considered first in relation to their business:

Sourced through Scoop.it from: kpmgsa.smh.re

KPMG delivers a good exit checklist for family business owners. Need a guide and coach? EGS is ready.

Exit Planning: A Process NOT an Occurrence

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Successful leaders of companies are often said to be visionaries. The pioneers who have empowered their companies and employees with objectives and values from which the companies were built. Why is it so often that these so-called visionaries lack the sagacity to treat exit planning as a multi-stage process as opposed to an occurrence?

 

Sourced through Scoop.it from: www.exitplancapital.com

Short piece underscores the wisdom of colleagues. At EGS, we treat exit planning as a process. Contact us to learn more at no charge.

 

What to Expect When Transitioning Your Business to a New Owner

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An understanding of the transition process will go a long way to making selling your business smooth and amicable. While each business owner chases success in his or her own unique way, there are some things nearly all owners have in common. Hard work, determination, a vision of what could be, and the will to make it happen—these are the stock and trade of anyone who starts a business. There’s also another common factor that binds together all business owners: The need to someday transition your business to its next owner.

Sourced through Scoop.it from: www.eidebailly.com

When Eide Bailly talks, I listen. This respected accounting firm share their insight in an interesting quasi-case study. EGS is ready to apply this insight to your specific goals. Use our new Contact page to get started.

 

Exit Strategy: Know How You Will Leave Your Business | Investopedia

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Yes, starting, scaling, running and now exiting your business is a ton of work. But as with most things in life, if done well and planned for, the things we put our heart and soul into tend to work out better than if we just shoot from the hip.

 

Sourced through Scoop.it from: www.investopedia.com

At EGS, I’,m partial to simple, easily understood opinions based on experience. Here’s one. I’ll give it a little air time because it repeats good advice.

 

A One Year Exit Strategy Plan – Quiet Light Brokerage

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Planning matters. Even if you have no intention of selling your website, positioning it correctly in the event that you one day need to sell can result in a significant difference in your overall value. Having an exit strategy can actually improve your business. Learn how one client used their exit strategy play to increase their website value by nearly 20%

Sourced through Scoop.it from: www.quietlightbrokerage.com

Here’s a fairly long, detailed article with only one problem: one year is not sufficient lead time for many businesses. Directed at website owners, you’ll find plenty of solid advice here for any business. And, most companies will need a guide who has been around the block several times. That would be EGS.

 

Canadian View: How should startups approach an exit strategy?

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There’s a strange dance that startups weave when it comes time to think about exit strategy. If you actually approach buyers and say you’re for sale, often buyers wonder what’s wrong. Why does this company want to sell? Are their best days behind them? Do they have no ambition? Are they not able to raise money?

 

Sourced through Scoop.it from: betakit.com

We like this short article. It offers advice to startups in Canada, noting that most exits for young firms take the road labelled “acquisition.” EGS has the best road maps for SME’s, young, mature or old.

 

Hold on to Employees By Letting them Go

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Leaders can do a better job of hanging onto workers by focusing on their development rather than on their retention. To retain top talent, companies might want to make it easier for people to go — to another role or department that is.

Sourced through Scoop.it from: www.clomedia.com

Employee job satisfaction is a top value driver. During our complimentary consultation, EGS will impart wisdom that goes beyond this short article.

How to Plan an Exit Strategy | Start a Business – | Startup Business

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It might sound odd to plan to sell a business before it’s even started, but it makes good financial sense, according to entrepreneur Duncan Bannatyne, formerly of Dragons’ Den, who says: “All my businesses are always for sale at the right price.”

 

Sourced through Scoop.it from: www.startupbusinessuk.net

Once again, our colleagues in the U.K. offer solid insight the “begins with the end in mind.” Established businesses without a plan can still do well. Contact EGS to learn more.

 

What Does Your Succession Plan Look Like? (Part I)

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Ownership transfer isn’t an easy subject for electrical distribution firms that know they should be thinking about the next generation of ownership… .   owners of small to mid-sized companies as a whole tend to have a tough time when it comes to succession planning.

 

Sourced through Scoop.it from: www.tedmag.com

I discovered this excellent article in a magazine directed at electrical parts distributors. And it applies to many markets, so enjoy the content. Then give EGS a shout-out for a consultation.