Exit Strategies Tactics to max out your end game

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Each day, EndGame Success considers dozens of breaking hard- and soft-news stories, selecting only the most important and reliable for inclusion. Watch for illuminating comments by our curators.

Business Sale to Employee Part 1: Six Reality Checks

Are you considering a sale to a key employee among your succession plan options? If so, make sure to walk through the following reality checks:

 

  1. Would the employee make an effective business owner? The person you choose to take over your business should possess the motivation, risk tolerance, personality attributes and leadership qualities required of a business owner.

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

Can't wait for the next part. This is clear thinking. EGS believes in reality checks, and we start with courtesy consultation.

Building Company Value To Prepare It For Sale

Valuing a company is the easy part; creating that value in the first place so you can measure it is a more formidable task. Determining value is more art form than science. True value can only be established at the time of a transaction, where willing buyer tenders payment and willing seller accepts it in exchange.

Sourced through Scoop.it from: chiefexecutive.net

Here's a hard, cold view of business value. EGS will warm it up for you starting with a courtesy consultation.

10 Reasons Why Your Exit Strategy Is as Important as Your Business Plan

  A research study by Securian Financial exposed that 72% of small company owners have no exit method at all. The truth is it can take years to perform an effective exit, so the endgame requires to be in your mind from the start.

Sourced through Scoop.it from: tyoungsystems.com

EGS agrees with the headline. Don't procrastinate. Skip the article and get in touch with us to swifly move the needle on your exit strategy.

Is it important to put an exit strategy in startup pitch presentation? - Quora

There are mixed views on the subject. I’ve came across multiple pitch decks where the exit strategy was outlined and decks where it was not. Did the quality of the entrepreneurial team change because of that? No not really…

 

Once it is decided to put in the exit strategy considerations it is best reflected to show how the market transactions within the space you are building your startup, this shows that you track the market and does not necessarily imply that you as an entrepreneur want a fast exit.

 

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

Pro's and cons are presented in this series of Quora answers. EGS advises the inclusion of an exit strategy in the business plan, not necessarily in the first pitch deck. Subsequent rounds? High visibility.

8 Questions You Most Likely Will Be Asked When Selling Your Business | BizBen Blog & Articles | BizBen.com

When selling your small business, you'll be bombarded with questions - from the brilliant to the ridiculous. You need to be prepared. Here are some of the key questions you can expect to be asked.

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

Interesting questions. But businesses need to prepare for the professional questions, too. EGS has your back, starting with a courtesy consultation.

It's Never too Early to Plan Your Exit Strategy 

When you're still experiencing the exhilaration of founding a new business, planning an exit strategy may appear counterproductive and pessimistic. Still, it's possible to argue that your very first business plans should include your exit plans. An exit strategy doesn't have to invoke negative feelings at all. Instead, it can help you cement and realize your vision for your business better.

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

We're resurrecting one of our favorites because it delivers solid insight. EGS is ready to build your exit strategy even if you are starting late..

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.

An exit strategy should be part of your small business tax planning

... you need to develop an exit strategy so that taxes don’t trip you up when you retire or leave the business for some other reason. An exit strategy is a plan for passing on responsibility for running the company, transferring ownership and extracting your money from the business.

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

Here's an appropriate quick read that is completely useful for the end of the year, when tax rises like cream to the top of business thinking. Enjoy! EGS will continue to offer courtesy initial consultations in 2019.

Is 2019 Your Exit Year?

EGS has high hopes for 2019.

Is 2019 Your Exit Year?

The "Earnout" as an Exit Strategy

Commonly used to either bridge a funding gap or when the future performance of a business is uncertain, an earnout allows the current business owner to receive a share of the future profits of the business for a specified period – usually between six months and two years.

Sourced through Scoop.it from: www.bealbusinessbrokers.ca

Although usually best to avoid, an EARNOUT can be a useful tool in certain situations. Learn more with a courtesy consultation at EGS.

Planning a good exit: 5 Year Effort

In our experience, business owners should start getting their house in order five years before they intend to leave their business.

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

Five years lead time is a minimum for most robust businesses. EGS preaches "begin with the end in mind." But if you haven't, we know how to bootstrap a powerful exit. Courtesy consultation, anyone?

Execution Strategies For Your Exit Plan Business Valuation

There is a lot of chatter in the IT community about exit strategies, M&A, and business valuations involving earnings before interest, tax, depreciation, and amortization — and they’re important discussions.

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

This article is a genuine gift, appropriate at this time of year. Enjoy! Then start the New Year with a call to EGS for a courtesy consultation leading to a highly effective exit plan business valuation... and a great deal more.

Within 10 years, 72% of small business owners plan to exit

Eighty-one per cent of owners intend to sell or transfer their business to retire, although only a fraction of them have started planning for their departure. The survey says 51 per cent have no plan at all, while only eight per cent of respondents have a formal written plan and 41 per cent have an informal plan.

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

This Canadian small business survey is also accurate for the U.S. If you are like a majority of small business owners, you don't have an exit plan. EGS will fix that fast, starting with a courtesy consultation.

Today’s the best day to plan for the future of your business

If you’re a small business owner, don’t underestimate the time required for succession planning. Reliable resources and professionals are available to help.

Sourced through Scoop.it from: www.freedom55financial.com

Written for the farming community, there's sage advice here for  family businesses. EGS fully understands succession. Contact us soon.

Why Selling A Startup For $20 Million Can Be Better Than Selling It For $200 Million

It sounds impressive when a founder sells a startup for tens of millions of dollars. But it sounds really impressive when a company sells it for hundreds of millions of dollars. As a founder, which option is better? For many, a smaller exit should be the desired outcome.

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

Counterintuitive, right? Keep reading this interesting article. Together with EGS planning, we can help you make the right exit decisions.

The Biggest Mistake Business Owners Are Making Right Now

Perhaps the biggest mistake owners are making right now with regard to their exit planning is not having an answer to this question: "What are you waiting for?" Learn about the two potential ways to interpret this question, and find out why so many owners struggle to exit smoothly and happily.

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

"What are you waiting for?" EGS encourages business owners to overcome their own inertia. EGS hits the ground running for you, starting with a courtesy consultation.

How to Build a Business with an Exit Strategy in Mind

Want to build a business and cash out big? Here's a small business exit strategy example that starts before the first day you open your doors.

Sourced through Scoop.it from: smallbiztrends.com

Here's a business that began with the end in mind. This is an interesting case study, worth your time. Also worth your time is a courtesy consultation with EGS to bootstrap your exit plan.

The ins and outs of a good exit strategy

Exiting your business should allow you a good retrospective look at what you have done over the years - and so planning the strategy early on will set you up in regards to what you hope to achieve. Upon exit, you should be able to say that you have done what you set out to do, financially and socially, and you have some energy left to do more elsewhere.

Sourced through Scoop.it from: www.iol.co.za

South African business insight here. We like it even though it's merely a fresh spin on our ongoing advice. Let EGS advise you now, beginning with a zero-cost consultation.

Businesses carry a lighter tax load in 2018

The Tax Cuts and Jobs Act (TCJA) will help reduce the 2018 tax burdens of many businesses and their owners. For C corporations and personal service corporations, it creates a low, flat tax rate and makes other changes. Exit planning is also discussed.

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

Worth reading as we head into the last month of 2018. Be sure to catch the chapter on Exit Planning. Then contact EGS to move toward the goal posts.

Why the Sale of a Business Fails

Pino Bacinello, president of M&A and Business Brokers Ltd., adds: “Our experience has been that business owners who do some planning—even if limited—and are realistic in their expectations, will typically receive 100 percent of their expected value at time of sale.”

Sourced through Scoop.it from: www.bcbusiness.ca

Eye-opening facts here, in the $500K - $5M small business segment. EGS provides a very direct and swift methodology to overcome failure.

Selling A Business Doesn't Have To Be A Headache

Conclusion: A Long-term Strategy Combined with Proper Legal Representation Goes a Long Way.

It is nearly impossible to create an exhaustive list of advice about issues that may arise for the seller of a small business; however, preparing for these major issues far in advance of a sale gives the seller the ability to focus on the transaction instead of distractions. The seller will maintain much better control over the transaction and be in a position to handle any smaller issues more smoothly, within the framework of a well-prepared sales strategy.

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

Solid legal advice here, from a nationally-recognized group. The article's conclusion amplifies EGS' position: failing to plan is a plan to fail.

The Succession Planning Preparedness Quiz

Effective succession planning involves building the value of the business during your period of ownership and management, and having a plan in place when you are ready to step down. It means that management authority and control are delegated responsibly.

Sourced through Scoop.it from: ubcutah.com

We like this short article at EGS. Take the quiz, record your answers. Then give EGS a call to begin converting your responses to an action plan.

Younger generation poised to benefit as boomers exit businesses | Stuff.co.nz

Those in the business of selling businesses are mindful that a wave of baby boomers is getting ready to retire, which theoretically means a wave of businesses will flood the market.

There's no sign of this yet but in theory, this would be great news for would-be entrepreneurs who don't want to start from scratch themselves.

Sourced through Scoop.it from: www.stuff.co.nz

From way down under comes this intimate view of businesses that fail to plan, with advice to get started. That's what we do at EGS, and we do it quickly and well.

Exit Strategies 101: The Importance of Planning Ahead by @DrRKayGreen

One of the most dreaded questions in job interviews may be this: “Where do you picture yourself in five years?” But this is the very question that business owners and entrepreneurs need to ask themselves. The people who succeed in this lifestyle have a plan for where they want to be in five years, ten years, fifteen years, and so on.

Sourced through Scoop.it from: sheownsit.com

EGS likes this short piece. Enjoy, then contact us bootstrap your planning starting with a courtesy consultation.

Why an Exit Strategy Is a Critical Component of Your Business Plan | ProfitBlitz

By planning for an exit as soon as you start building your company, you ensure that when your firm comes to an end, it does so on your terms.

Sourced through Scoop.it from: profitblitz.com

Good checklist here. The writer is a valuation specialist. So is EGS, and we're ready to get the ball rolling.

Exit strategy: five options which could work for your business

For business owners devising an exit strategy, there are a number of options, public or private. Here are five scenarios

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

Quick and punchy options. But EGS offers way more than 5 options. Learn more now.

Next Generation: How Family-Run Wood Flooring Companies Succeed Across Generations - Wood Floor Business Magazine

Case Studies: How wood flooring companies have survived and transitioned to new generations running the business.

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

EGS does not often recommend long-form articles. Here's an exception worth the reading time, especially if you are part of a family-run business seeking a succession strategy.

Has your business got a succession plan?

You won’t often hear a financial planning business owner complaining that they have too little to do. Between advising clients, keeping up with regulatory requirements, and running a business day to day, there aren’t many hours left in a week.

Long term tasks, such as succession planning, can easily drop to the bottom of the to-do list.

Sourced through Scoop.it from: www.apexinsights.anz.com

This check list article covers the basics. When you contact EGS for an initial free consultation, we'll customize for you.

The HR View: Succession Planning in Small Organizations

Aside from exit strategies, succession planning should take into account both the short-term and long-term stability and sustainability of a company’s human resources, as well as the individual development of its employees.

Sourced through Scoop.it from: dbpcstaffing.com

The HR perspective is human resource-based. At EGS, our perspective is much broader. Learn more.

Entrepreneurs! It's Never Too Early to Plan Your Exit Strategy

At the start of your business, you have the opportunity to look ahead and consider how you will exit your business?The questions your exit strategy needs to answer are: How will I receive the value of my blood, sweat and tears as well as retrieve my financial equity in this business?

Sourced through Scoop.it from: www.smesouthafrica.co.za

Ready for some South African insight? It only takes 2 minutes to read this advice. EGS is in tune with its precepts, and we're standing by for your call.

Why Every Small Business Owner Needs to Start Their Succession Planning Now

As business owners approach retirement age, it's never too soon to outline a succession plan. But retirement is far from the only force pushing proprietors out of ownership. Unexpected life events can happen at any age, and a succession plan ensures the right people inherit the business, operations continue to run smoothly and owners are able to exit under fair circumstances.

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

New twist on advice that EGS pushes regularly. Enjoy this brief piece then call EGS for a custom courtesy consultation.

A Strategic Plan Should Also Include a Succession Plan

Developing a succession plan should be a part of your strategic plan. Successful succession is one of the most important goals for any business.

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

Sage advice. EGS won't let you fail to plan. Call now.

Exit Strategies - What Women Business Owners Should Do About the Retirement Crisis1

...women are less retirement-ready than their male counterparts due to lower lifetime earnings, breaks from the workforce and longer life expectancies. Women business owners have additional challenges with exit strategies and succession planning.

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

EGS has a sharp eye and capable brain for women-centered exit strategy issues. Contact us for a courtesy consultation.

Succession Planning for Financial Advisory Practices

As a financial advisor who acts as a fiduciary, it is vital to have a plan in place. This may already be taken care of internally if you are an employee, partner or owner in a larger firm. But in a smaller firm, or one where you are the only advisor, it may present more of a challenge. The reality is, no matter what size your firm is, it is important to have a plan in place.

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

Whaddya know. An exit strategy for people like me. As an exit strategy maven, you gotta know I have one for EGS. Go ahead, ask me to prove it.

Doing it Right: Key Tips for Not-for-Profit Ownership Transitions

Not-for-profit organizations aim for many of the same goals and objectives as a privately held business, but instead of focusing on a financial event, they seek a plan to ensure the success of the organization for many future decades. However, without the financial incentives, it is not uncommon for high-level employees to simply retire, without the proper thought and planning that may be required.

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

EGS blends market knowledge with long-term objectives to meet the unique needs of non-profits.

What to Do When Your Kids Don't Want to Take Over Your Business

Many small business owners dream about the day when they can add "and daughter" or "and son" to the name of their company. Of course, sometimes reality sets in, and that's not possible because their children might not want the business.

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

This is from Motley Fool. Expect an ad at the end. But it's good stuff. EGS can help you sort-out the options.

OPINION: Make sure you have an exit strategy from your business | IOL Personal Finance

A leader must know when it’s time to exit. I was working in our family business for 20 years. My daughter, Amy, was slated to take over. However, to my surprise, Amy decided to become a teacher instead. Yes, there are risks to generational succession: it only works 30 percent of the time.... Suddenly, I needed a new plan for my future.

Sourced through Scoop.it from: www.iol.co.za

Keen insight from this individual opinion. EGS is ready to build your strategy, including contingencies that offset the issue discussed in this article.

Why Every Business Owner Needs an Exit Strategy

Establishing an exit strategy – a plan for eventually leaving or selling the business – is a common-sense part of smart entrepreneurship, and it lends a sense of safety and peace of mind to what is inherently a risky proposition.

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

Congrats to the writer of this short, punchy article. For our regulars, it's a fresh spin on the EGS theme of beginning with the end in mind. For new readers, know that EGS is offers a courtesy consultation where we listen hard to your needs.

How to exit your startup

The goal of many startup entrepreneurs is to eventually exit their company at a point where they can secure a great payout from themselves and investors. Sounds harsh and calculated, doesn’t it? Well, it is a business, so get used to it.

Sourced through Scoop.it from: techcollectivesea.com

Southeast Asia is the source? Yep, and the advice is basic but solid. Are you involved with a startup? EGS has exit answers and game plans.

Daniel Pessin’s 5 Golden Rules for a Successful Business include #3: Have an Exit Strategy

Ideally, you should have an exit strategy in place before you even start your business. An exit strategy is a strategic plan to sell the ownership of your company. Not only will having an exit strategy help you increase your future sale price, but it will also give you concrete goals to work towards.

Sourced through Scoop.it from: medium.com

EGS suggests promoting Rule 3 to Rule 1. Let's do it, beginning with a courtesy custom consultation.

Do you have an exit plan for your small business?

Whether you intend to leave your business in one, five, or twenty years, you would be wise to make a plan now, like right now. You can even run your business differently and set it up for a buyer and command a higher price. It takes years, not months, to prepare a business for a new owner. The better the exit plan the higher the price you are likely to get for your business. How do you exactly plan an exit strategy?

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

Sweet and short. Take a minute to read, then contact EGS to get proactive.

Planning your exit from your business - key facts | Legal Resource Centre

Poor planning, poor result

Sourced through Scoop.it from: gardner-leader.legalresourcecentre.co.uk

EGS agrees: poor planning, poor result. This quick read from the U.K. is your reason to call EGS for superb planning, better results.

5 Tips for Selling Your Business and Retiring

Historically, only 25% of businesses up for sale actually sell. Those odds are likely to become worse as millions of baby boomers attempt to sell their businesses over the next decade in the Exit Bubble®.

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

EGS agrees with the concept of "The Exit Bubble." We are ready to help you beat it, starting with a strategic courtesy consultation.

Almost a quarter launch businesses with a sale in mind

Almost a quarter of entrepreneurs starting their own businesses do so with the aim of selling the business at a later date.This is according to a new study.

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

This means that more than 75% of entrepreneurs DO NOT build an exit strategy into the business plan. EGS is ready to fix that, starting with a courtesy consultation.