Ten Things to Do To Prepare To Sell Your Business

If you want to sell your business, be sure to check the items on this list prepared by Loren Schmerler, CPC, APC the founder and president of Bottom Line Management. Loren is a founding member of the Georgia Association of Business Brokers as well as an experienced business broker.

Sourced through Scoop.it from: gabb.org

Just 10? Actually, this is a good review of the tactical thinking process that should go into getting a business ready for sale. At EGS, we advocate a lot of this as strategy, years ahead of the need.

Planning Succession In Family Businesses

What makes family businesses more complicated than normal businesses is the fact that relationships are often emotional. Below are some tips to plan a proper succession of your family business:

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

This short article includes good insight and advice. EGS understands family dynamics. Let’s consult beginning with a free initial evaluation.

Succession planning: new ownership for your business | Business Link

Find the exit strategy that’s the best fit for your business and situation.Three common options for exiting a business:
– Passing the business on to a successor
– Having managers or employees take over ownership
– Selling

Sourced through Scoop.it from: businesslink.ca

Short check-list article includes clear think. That’s what we do at EGS, and we start with a courtesy consultation.

Four Tips for Developing Your Business’s Exit Strategy

1. Always plan well ahead

…you must plan your exit strategy from the outset. This helps shape the way your business unfolds. There will be a day when you plan to stop running the business. It’s better to leave the business voluntarily, rather than an exit being forced upon you, and preparation is important.

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

EGS applauds step 1. And commends the three other steps to your reading enjoyment.

5 Reasons to Work With a Small Business Coach to Form Your Exit Strategy

Ideally, you should have at least a one-year head start on forming an exit strategy. That’s how long it takes to create a comprehensive succession plan, set up all the proper paperwork, and turn things over to the next leader. Don’t have a year? You need extra help.

 

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

EGS doesn’t use the word "coach" to describe our one-stop exit services. But coaching is often a key part of the job. We begin with a courtesy consultation.

Protecting Yourself in a Business Partnership

Exit Strategies

Discords that are unable to be resolved can lead to the voluntary or forced exit of a participant. Plans should be established to handle the occurrence of such events. Additionally, accidents can happen to anyone and must be considered in a partnership. An exit strategy should be outlined in the unlikely circumstance that one of the partners is no longer able to continue due to disability or death.

Sourced through Scoop.it from: kelleylawoffice.com

How to Put in Place an Exit Strategy To Maximise Value – Business Achievers | Extend your business network and get support to help your business grow

The exit challenge requires a choice to be made between two fundamentally different exit objectives:

  1. The business as a vehicle for creating wealth for many generations to come or in other words for ‘family succession’ or
  2. The business ready for ‘value realisation’ within a planned period of time via an exit mechanism such as a Trade Sale.

Sourced through Scoop.it from: www.business-achievers.com

Good checklist article to begin the year. There’s a lot here. Take advantage of EGS’ initial courtesy consultation to cut through the noise.