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.

What’s your exit strategy? From Tony Robbins’ Business Mastery

Do you run your business like you could sell it? Or are you on a course to crash and burn?

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

I like this short video from powerhouse motivator Tony Robbins. So I'm sharing it as a kick in the pants if it applies to you. EGS is ready to build and implement your clear exit strategy beginning with a courtesy consultation.

Impact of Tax When Selling a Business - Google Partner Team-The Trusted Google Experts

The tax implications happen at two levels. The first level is the tax consequences preparing the business for sale. The second level is the impact on taxes when the business moves from the current owner to the buyer.

Sourced through Scoop.it from: googlepartnerteam.com

Tax implications usually come near the end of all other exit strategy thinking. But tax should be up front. You need expert help and you can get it at EGS beginning with a no-cost consultation.

Aging small-business owners unprepared for retirement: survey

The majority of [Canadian] small-business owners don't have a detailed retirement plan in place despite little interest in expanding their business, according to recent study conducted on behalf of Toronto-based Canadian Imperial Bank of Commerce. In fact, 78% of aging business owners haven't prepared any sort of formal plan to prepare for an upcoming retirement or in the event of an unexpected emergency, the report says.

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

What happens in Canada doesn't stay there. This Toronto bank-sponsored report is quite accurate for small U.S. businesses, as well. EGS stands ready to help, beginning with a complementary consultation.

How to Sell Your Business - Transition360 Business Development & Broker

One size does not fit all…
Every company is different, so as a result various phases are used depending on the need to optimize the value and the transition of a business from the owner to the buyer with little or no stress.

Sourced through Scoop.it from: www.transition360.com

Here's a quick but clean view into the selling process from a Seattle agency. We're particularly fond of the short section on Exit Planning. It's some of what we do best at EGS.

Biz Tips: Planning a Successful Exit from Your Business

Bob Gellman details how business owners can grow and protect the value of their business, transition that value into personal wealth and then grow and protect that wealth for this and future generations.

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

Strong video insight and advice from a celebrated consultant. Take 6 minutes to watch, then call me (Alan Mischler) or Bob to gear up for a successful exit.

The four essential questions CEOs must ask before hiring a part time CFO

Prior to onboarding a part-time CFO, companies can prepare all tasks that less experienced personnel would be able to handle. For example, migrating the company’s financials to an accounting system. This will free the part-time CFO up to immediately dig in and spend their time on high-impact initiatives, such as building out the internal finance team, connecting with investors, analyzing bolt-on acquisition opportunities, and developing exit strategies.

Sourced through Scoop.it from: thenextweb.com

Good insight and advice in this article. At EGS, our Lease a CFO program is ready to tackle your specific situation.

What is Exit Strategy Planning?

What is exit strategy planning? The definition lies within the exit planning process of preparing a business for sale or transfer while maximizing enterprise value.

Sourced through Scoop.it from: exitpromise.com

OK, here's an Exit Planning 101 article for folks embarking on the voyage for the initial time. Good content if you are completely green on this important topic. EGS can take it from here.

Never too early for an exit strategy – Business Finders Canada

Thinking through your exit strategy and taking clear steps toward succession – even when you’re more focused on growth than transition – is the best way to ensure you have a well-run and well-prepared business when it’s time to move on to your next journey.

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

It's worthwhile to repeat solid advice. And this short article is solid but incomplete. Contact EGS for the missing content - it's specific to your situation.

ESOP: An Exit Strategy | Family Business Resource Center

ESOPs are one among several exit strategies that business owners should be aware of, but they are not for everyone. While there are real benefits to converting a privately held company into an ESOP, there are also complications and drawbacks.

Sourced through Scoop.it from: upflow.co

Lots of twists and turns. EGS will help you navigate.

Got IP? Licensing is One of the Best Exit Strategies

Your IP signals investors that your startup has a greater chance of success. Research studies from MIT and WIPO confirm that startups with patents are more attractive to investors, tend to grow faster, have more revenue options, higher valuations and better exit opportunities.

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

If your firm has intellectual property assets -- patents, for example -- your best exit strategy may be licensing according to this article. EGS will help value and actualize your IP.

EXIT STRATEGY. A business white paper

Retirement will only be good for you as a business owner if you retire ‘to’ something new, rather than ‘from’ something old. Retirement from your business will be a happy, fulfilling, time only if you have first determined what you want to do with the rest of your life and what you still want to achieve. Then go for it!

Sourced through Scoop.it from: castnetcorp.blogspot.com

Here's a thoughtful blog-style review of exit thinking. You may find yourself in these paragraphs. EGS concurs with the advice to craft an exit plan early. You haven't done it? We will help bootstrap.

"Lease a CFO"  Introduced by EndGame Success

Most small to mid-size businesses cannot afford a full-time CFO. Many business owners attempt to shoulder the responsibility, acting in the capacity of CFO. In our experience, more often than not critical functions get neglected. Learn about our newest service.

 

Sourced through Scoop.it from: endgame-success.com

EGS now offers CFO services. Many smaller clients ask for it. We are pleased to add it as a regular service offering.

 

Reaching Financial Goals | Needs vs. Wants Pyramid | Exit Strategy

Very early in the process of deciding whether or not to exit your business, as a business owner you must determine how much money you need or want to live out your quality of life and accomplish financial goals. Working with a financial planner like EndGame Success, start with an analysis of wants vs. needs to help settle on a desired level of annual spending.

Sourced through Scoop.it from: anderscpa.com

Here's a new spin on exit strategies for business owners. We like the recommendation to reach out to EGS for professional help.

5 Steps in Creating a Business Succession Plan | Tompkins-Law Estate Planning Attorney

Business succession planning is the process of identifying and developing a plan of how you want your business to operate and who you want to run your business after you retire or pass away. Similar to estate planning, if the proper plan is not put into place, it can cause a lot of time, fees and headaches for your loved once.

Sourced through Scoop.it from: tompkins-law.com

This is straightforward stuff. After you've perused the 5 steps, add a 6th: call or write EGS for a courtesy custom consultation.

Six best practices for an exit - New Hampshire Business Review

Unexpected events like the sudden death, disability or unplanned retirement of a co-owner can be incredibly stressful and frequently negatively impact a company’s business. Here are six best practices business owners should follow to avoid these uncertainties: 

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

Good advice from an attorney. EGS adds a 7th best practice: contact us for a fully custom analysis and plan.

Exit Planning Guide for Startup Companies

The startup company IPO is a much rarer creature than it used to be, so most early stage companies return maximum value to their shareholders through some form of acquisition. Planning for such an exit is an ongoing responsibility for both the CEO and the board. Download this sample exit strategy template for early stage founders and directors. Includes key questions to expect from potential acquirers.

Sourced through Scoop.it from: seraf-investor.com

Here's an interesting and rare view into the world of startups, where exit planning is required by early stage investors. It includes a downloadable exit strategy template that contains useful thoughts for any kind of small - medium business. With EGS guidance, your own custom exit strategy is assured.

Paradigm Shift: Business Model or Exit Strategy

This entrepreneur will create a paradigm shift. There is, however, a major issue.

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

Very short video contains a powerful message. Watch it (41 seconds) then give Alan Mischler a shout-out: alan.mischler@endgame-success.com.

How to Maximise the Value of your Business for Sale

...it’s always a good idea to seek the advice of a professional outside advisor who can help you to prepare your company for a successful sale. An advisor can give you the guidance you need to prepare for a sale, give you a realistic idea of valuation and deal structures that will be available, help generate competition for the business by running a competitive process, and manage the process through to completion, allowing you to focus on the ‘day job’.

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

Worth your time to read this short article. Then take the advice to seek pro help by contacting EGS. We begin with a courtesy consultation specific to your business.

Older business owners urged to plan exits as a fifth of directors hit retirement age

Over a fifth of SME directors are now over the usual pension age of 65, as accountancy and advisory firm warns that many business owners are failing to put exit strategies in place ahead of their retirement.

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

Highly focused article highlights the pitfalls of failing to plan. EGS has your back on customized planning. Get in touch now.

Licensing is One of the Best Exit Strategies for Your IP-rich  Startup

In today’s IP intensive marketplace, your IP is your startups’ exit strategy. It provides an asset for a larger player to license and integrate into their product or technologies as part of a broader IP strategy. At some point during the licensing term, if your IP is generating significant royalties, your licensing partner will most likely want to buy you out.

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

Got intellectual property? IP is clearly a startup's prime exit strategy. Learn how to bake it in from the beginning by contacting EGS for a courtesy consultation.

Closing Up Shop: Top 5 Tips When Ending or Exiting a Small Business

Entrepreneurs are optimists. And even those with a long-term view on their startups often don't envision leaving those companies, much less failing or being forced to close. But ending a business is as much a reality as starting one, and planning for the worst is as essential as hoping for the best.

Sourced through Scoop.it from: blogs.findlaw.com

This simple article is actually an annotated outline. Each topic title clicks to a richer article. Collectively, this is pretty good stuff. EGS can help you customize the content to your specific situation.

3 Top Notch Exit Strategies for Your Small Business Plan

As an entrepreneur just entering the world of business it probably sounds counterintuitive to include an exit strategy for your business. Realistically, however, it is just as important to have a plan to retrieve your capital as it is to have a plan to find that capital in the first place. Exit strategies aren’t just for owner’s peace of mind, after all.

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

This very brief but accurate article provides strong encouragement to contact EGS for a robust customized exit approach. You'll start with a courtesy consultation.

Is it Time for a Professional Business Valuation?

The value of your business depends on many factors, including the timing of the transfer of ownership, the manner of transfer, the circumstances surrounding the transfer, and other factors which vary depending on the business you operate. For example, if you sell your business to a third party, the value of the business will likely be higher than the value of the business if it is transferred to current employees or to your children.

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

Business valuation is one of the key specialities at EGS. You may benefit from our Company Valuation article. As they say, "it's complicated." EGS is ready to uncomplicate your specific value.

5 Ways to Lead Your Company to a Successful Exit

A blockbuster exit is something of a fantasy for Silicon Valley entrepreneurs. In an industry where so many companies fail, an exit is a powerful symbol of success. However, that does not mean it’s a good idea to focus on an exit strategy from Day One.

Sourced through Scoop.it from: feedproxy.google.com

This writer is trying to say that a day one exit strategy is to focus on building the business. We agree. The best exit is a great offense that develops company value. Don't have that strategy? We'll begin building one at EGS, starting with a courtesy consultation.

Why You Should Plan to Break Up with Your Business Partner from the Start

While it's important for you to safeguard your investments and interests, it's equally important that any business partners do the same. This is why it's so helpful to establish an exit plan at the very beginning of your relationship.

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

Guest opinion in Inc. Magazine resonates with EGS. We're ready to build your custom exit plan now.

Reaching Financial Goals | Needs vs. Wants Pyramid | Exit Strategy

This issue takes on additional significance for the business owner who is considering selling their business. Very early in the process of deciding whether or not to exit your business, as a business owner you must determine how much money you need or want to live out your quality of life and accomplish financial goals.

Sourced through Scoop.it from: anderscpa.com

From a St. Louis exit practitioner comes insight structured like Maslow's heirarchy. Digest this then contact us to start your wants/needs courtesy conversation.

5 Critical Factors That Affect Business Exit Strategy Timelines

A finely honed business plan should include a detailed exit strategy. This, often overlooked element clearly outlines the owner's plan to get paid for their sweat equity at a designated point in time.

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

Brief article is to-the-point. Honing your exit strategy will begin with a courtesy consultation at EGS. Contact us to get the ball rolling.

Why Business Owners Need a Succession or Exit Plan | Investopedia

If you want to get the most from your business, as Dr. Stephen Covey said, start with the end in mind. Picture what a success plan and exit strategy would look like and then work backwards.

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

Good material here. Are you ready to build a plan? Begin with a courtesy EGS consultation.

Biz Tips: Planning a Successful Exit from Your Business

To accompany his book, Seven Keys to Unlocking the Door to Your Dreams: Exit Strategies for Business Owners, Bob Gellman details how business owners can grow and protect the value of their business, transition that value into personal wealth and then grow and protect that wealth for this and future generations. Click here to see the book online.

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

Good stuff here! Short video is also part of the EGS playbook. Contact us now to get your successful exit underway, beginning with a courtesy consultation.

A One Year Exit Strategy Plan - Quiet Light Brokerage

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.

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

Although this article is about preparing a WEBSITE for sale, many of the enumerated tasks apply to all businesses. It's complicated, too. EGS is your ally to de-complicate.

Why you should create an exit strategy before you need it

Don’t wait until you want out – plan ahead and you’re more likely to get what your business is worth. This short article explains why you need an exit strategy.

Sourced through Scoop.it from: geca.co.nz

From colleagues in New Zealand comes this well-thought-out advice to plan your business exit. Good stuff here and at EGS. Our initial consultation is fee-free. And the phone call is free.

7 Lethal Threats To Your Business That Come From Inside

You've paid dearly to start and grow your business; the steep tuition of success that only an entrepreneur will ever understand. So, you would never do anything to sabotage your businesses, right? Well, not intentionally. But in my own personal experience and in working with hundreds of startups it's clear to me that there are at least seven critical areas where entrepreneurs make mistakes that may cost them their business or severely limit its value and chances for growth.

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

We like how this thinker weaves an exit strategy into the mix of internal threats. This is a good article, worth reading repeatedly as you strive to build business value. Need help? EGS is ready.

Your small business exit strategy | Xero

You’re running a business that you love. You’re passionate. You’re the boss. You’re making a difference. But have you considered what your endgame is?

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

Brief but good checklist article. No worries on remembering these bullets. That's our job at EGS, beginning with a courtesy consultation.

The One Principle That Will Keep Your Best Employees From Quitting

Watch company morale soar with this approach to employee engagement. Losing employees can be a pretty expensive habit. If your company is in a turnover phase, you're not alone. According to data from Harvard Business Review and the CEB:

 

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

High business valuation as part of any exit strategy relies on low turnover among top employees. Here's a short article that offers clear guidance on retention.

 

Selling The Business - A Checklist

Selling the business to employees or ivnestors is another exit strategy option. There are Pro's and Con's to this option. Here is what you need to know.

Sourced through Scoop.it from: www.s-b-z.com

Another checklist article demonstrates the complexity of selling your business. EGS will listen to your needs and cut through the complexity. We are the "EZ Button".

 

How to Protect Business Value in a Tricky Economy

If you're thinking about selling your company in the next few years, have you considered the impact that changing economic conditions could have on business value? Better yet, have you considered what you will do to protect the value of your business if key economic indicators go south?

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

Good insight in this Inc. article. EGS is ready to adapt it to your specific situation beginning with a zero-cost consultation.

The puzzle

Why an Acquisition Might Be the Best Growth and Exit Strategy for Your Business (No Matter What Size It Is)

Ready to exit, or ready to grow? M&A may be the answer, but only if you find the right partner. Acquiring or merging with a like-kind company can create opportunities for small companies to accelerate their growth... and for someone to exit. And, no, this method is not just for the big guys, small businesses can produce serious results with a calculated acquisition strategy.

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

It's fairly rare, but a merger can offer both growth and exit opportunities. Here's a useful case study about two small firms. EGS is eager to offer solid guidance.

 

Exit Strategies of the Rich and Famous

Estate conservation is too important to put off. Do you have a smart [personal] exit strategy? This is a short video.

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

Here's a fun and interesting video to kick-off your weekend. And it's also a topic that EGS loves to consult on: your personal exit strategy whether you are famous or not.

Sharing the wealth: ESOPs offer business owners an exit strategy, if they plan ahead

When Mark Lindquist purchased Rapid-Line Inc. in 1989, he completed the transaction with a strategy for exiting the business already in mind. Shortly after signing the paperwork to acquire the Wyoming-based contract manufacturer, Lindquist established an employee stock ownership plan (ESOP) to cement a clear path for his eventual retirement.

Managing the Emotional Toll of Selling Your Small Business

Many buyers desire that the previous owner remain with the business, on a consulting basis, for three to six months after the transaction, to help ease the transition. Make sure that you're emotionally prepared to play this role in a professional manner.

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

Here's an interesting look at the emotional side of selling your small business. EGS practices positive reinforcement to maximize smart decisions. Our insight is waiting for you during a courtesy consultation.

Exit Planning | The Vantage Group, Inc.

“An exit plan asks and answers all the business, personal, financial, legal and tax questions involved in transitioning a privately owned business. It includes contingencies for illness, burnout, divorce or death. Its purpose is to maximize the value of the business at the time of exit, minimize taxes, and ensure the owner is able to accomplish all his or her personal and financial goals in the process.”

– Exit Planning Institute

Sourced through Scoop.it from: vantagegroupinc.com

Solid insight in this article by The Vantage Group in Michigan. Contact EGS to actualize the advice beginning with a courtesy consultation.

When Divorce Involves a Business Split

Divorce can be a difficult time and whilst many presume correctly the main concern is children, on many occasions, there are many other important factors such as business ownership.

Sourced through Scoop.it from: businessnewswales.com

We owe thanks for this short piece on a topic encountered (too) frequently. EGS knows how to handle the situation well in advance. Contact us now to get a courtesy consultation.

Employee ownership could be answer to exit of baby boomer owners

Nexus, teamed up with a group called Project Equity out of Northern California, has embarked on a new effort to get the word out about the economic benefits to workers who manage to take over ownership of these businesses from their retiring bosses. What makes this at least worth hearing about, for business owners, is that a better buyer than their own workers may not come along.

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

Enjoyable article! Is the author describing your business? Contact EGS to get the ball rolling on an employee ownership exit plan.

Cashing Out: 3 Tips for Valuing and Preparing Your Business for Sale

The grind that goes into building a business and creating a book of happy clients is remarkably hard. The perception of overnight successes that fill the airwaves betray the long, lonely hours and meager rewards. After years of carefully caring for an idea that becomes a business, many entrepreneurs feel exhausted and begin to consider selling - here's how.

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

Read this brief article first. Then ask "Do I resemble this guy?" If you've procrastinated on an exit solution, EGS can quickly get you up to speed.

Making a gracious exit from your business and finding a successor

It’s come to that moment. You feel like it’s the right time to leave your business that you’ve put so much work into over the years.

Sourced through Scoop.it from: www.altusfinancial.com.au

Gracious exits take planning. Here's good advice from an Australian firm. Planning? That's what we start with at EGS.

How to Break Up With Your Business Partner the Right Way

The average startup breakup rate can be 20-30% higher than marriage divorce rates. If the pairing at the heart of a joint venture starts to fail, knowing how to end the relationship can save the business from a PR nightmare. You want a fresh start, not a new enemy.

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

Partnership-based companies should consider breakup contingencies in exit strategy planning. You just never know, so plan for it. EGS can quickly add a plan.

Who Needs a Succession Plan? Maybe You

Monetizing a closely held business is often a long and difficult process, so business owners may benefit by developing an exit strategy.

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

Short, sweet read. You do need a plan. 

Succession planning can give you and your family security and confidence

Succession planning is one of the more important safety nets for a business owner who wants to build their business with the end goal of selling their business for the maximum value, be it in one, five or 10 years’ time. Yet, as important as this is, many businesses fail to implement a successful exit strategy for their eventual transfer of ownership.The reality is that every business owner will need to exit at some stage.

Sourced through Scoop.it from: mvpfinancial.com.au

Short, sweet message from across the sea. Contact us now to get your plan rolling.

What You Need to Know Before Selling Your Business

Selling a business is a multi-faceted process. How do you determine what it's worth? How do you find a buyer? How do you keep your competitors, customers and employees from knowing it's for sale if secrecy is critical? What are all the steps involved?

Let's look at these questions and more with eight tips for maximizing the sale of your business.

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

This article is simple enough. For most firms, however, simple it isn't. You need a guide, an experienced hand-holder to steer you.

Begin With the End in Mind

“Begin with the end in mind” – sounds really simple but unfortunately most people lose sight of the strategic management of their business.  This vital habit ends up not being followed by business owners who are so entrenched in running their business day to day – they don’t allocate the time and energy to planning and designing the method to help them maximize the value of the business and achieve a successful exit.

Sourced through Scoop.it from: smallville.com.au

The title is one of our favorites slogans. And it bears repeating. This is a useful article from down under. Want to begin? Contact EGS.