Entries by Murry Shohat

Developing a Business Exit Strategy: An 8 Point Check List to Get Started Today! 

In business terms, the transition out of the business for an owner is referred to as an “exit,” while the plan for a defined ending is called an “exit strategy.” Having a business exit strategy conveys that you’re in control of your business; that you’re aware and goal focused, and that you have a plan for an organized and profitable ending. Remember, it’s inevitable – all businesses must transition at some point; all owners must exit the market.

Sourced through Scoop.it from: blog.truelytics.com

A good checklist here. Let’s make it 9 points: add contact EGS for a courtesy consultation to build a custom exit.

Signs that your company is struggling financially

More new businesses than ever before are being started by inexperienced owners who don’t appreciate that a high volume of sales, doesn’t necessarily mean that they are doing well financially. It’s important to be aware of these early warning signs and take immediate measures to turn things around before it’s too late.

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

Consider this short article as a pre-exit notice. Pay attention to these signs, then add an Exit Strategy beginning with a courtesy consultation with EGS.

Preparing for businesses succession: Four actions every owner should consider

Preparing for businesses succession is critical to ensuring business continuity. Here are four key actions to consider when preparing your business succession exit strategy.

Sourced through Scoop.it from: blog.umb.com

Let us praise this bank for insight. These four actions make sense, but none more than the advice to get started now. And that’s what we do at EGS beginning with a customized courtesy consultation.

Exiting Your Business: How To Conquer Your Fear

Fear holds us back. For some, fear prevents them from ever starting a business in the first place. For others, fear stops them in their tracks when it’s time to exit their business. Today let’s look at three of the most common fears and how to confront them. Conquer your fear, and start living your real dreams.

Sourced through Scoop.it from: mindshift.money

Interesting article dives into the psychological component of exit strategies. When EGS counsels clients, psych is always an up-front component on our menu.

Your Business Exit Strategy-Sink or Swim? 

 The biggest reason why businesses fail to establish a system to assume a smooth exit from their business? Lack of planning! With proper planning, you can create a successful and effective strategic plan. Here are key steps which will guide you on a path of a successful exit.

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

Another checklist from a respected large accounting firm serving the Northeast U.S. The key point is planning, EGS’ speciality. We’ve got a courtesy consultation available to help you get started.

Passing your business on to your family FAQs | Business Law Donut

1. How far in advance should I start planning to pass the business on?

Most people find that it takes at least a couple of years to prepare. Although it is possible to pass a business on at short notice, it can take several years to handle activities such as training your successor effectively. The sooner you can discuss your plans with your advisers, the better.

Sourced through Scoop.it from: www.lawdonut.co.uk

Here are 18 FAQ’s that will enlighten any firm contemplating a family succession exit plan. EGS has many more A’s for your Q’s.

Using an Employee Stock Ownership Plan to Exit Your Business

According to the National Center for Employee Ownership, as of March 2017 there were 6,717 ESOPs in the United States, holding total assets of more than $1.3 trillion. These range from small private companies to large public companies, and just about every type of company in between. Depending on the size of your company, timeline and long-term business goals, this exit strategy could be a viable option. In deciding the best approach for your business, take these factors into consideration.

Sourced through Scoop.it from: www.53.com

Cinncinati’s Fifth Third Bank offers excellent insight into ESOPs. EGS offers quick, clear guidance to develop this exit strategy.

Exit Strategies for a Family Business

A business exit must be custom fitted to your financial situation and your desires for management succession. The following are some possible strategies that you may want to consider — with the help of your professional advisors.

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

You can tell this brief article was written by someone who has been around the block several times. Family exit strategies can be an emotional minefield. EGS knows how to defuse the mines.