Exit Strategies Tactics to max out your end game

News / Views / Insights / Commentary

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.

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.

What is succession planning? A key talent strategy for business

Succession planning is a talent management process that builds a pool of trained workers who are ready to fill key roles when leaders and other key employees step down. Organizations with succession planning programs in place foster a talent-oriented culture by recruiting skilled workers and top talent.

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

This CIO article gets our vote for Best exit strategy article of August. The skilled writer covers the bases. At EGS, succession planning is strategic and tactical, and we begin with a courtesy strategic consultation.

Owners Need an Exit Plan in Addition to a Business Plan

When business owners start their businesses, they often create a written business plan to guide them toward success. However, many successful owners don’t mimic that process when they begin to approach the end of their business ownership. They should begin with the end in mind!

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

EGS begins with a courtesy strategic planning session. We want to get the ball rolling on your exit plans.

Exit Planning is Long-term Business Planning

Of all the businesses that are put up for sale, only 20 percent are sold. And, only about a third (30 percent) of all family owned businesses make it to the next (2nd) generation. While a meek 12 percent make it to the third generation.

 

These percentages are low, for the simple reason of lack of planning and preparation.

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

EGS agrees: Now is the time to move forward to give yourself plenty of time to explore and envision all the potential [exit] possibilities, while setting a course for yourself based on what is important to your business and yourself.

2018 Insights on Wealth and Worth - Business Owners

The 2018 U.S. Trust Insights on Wealth and Worth survey examines the impact that people and relationships have on business ownership, from initial funding to exit planning....

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

The Succession Plan section (Figure 4, shown) provides deep insight worth your attention. EGS is ready and able to walk you through to build your custom plan.

When entering a business, consider your exit - Propelify Innovation Festival

The right time to be thinking about selling a business is before you start it, because decisions you make early on can help maximize your future value and attractiveness to potential buyers. Some areas you should be thinking about are (1) entity structure, (2) operational structure, and (3) books and records.

Sourced through Scoop.it from: propelify.com

Clear thinking here. This brief piece should convince you to pick up the phone and ask EGS to schedule a courtesy consultation to get the ball rolling.

Whilst you were lying by the pool (probably sending work emails), did you think about your exit strategy?

Our experience has shown that vendors who approach the sales process in a controlled and structured way are far more likely to achieve a more satisfactory result on completion of the sale. 

Sourced through Scoop.it from: blog.aab.co.uk

"Controlled and structured" in this timely article describes the EGS approach to exit planning and business valuation. Begin with a courtesy consultation.

Why Small Businesses Prefer To Be Acquired

...it is important to know the fundamentals of what an exit strategy is, what acquisition is and why it is highly desired. Thus, it is also important to be aware of the implications of acquisition and the steps that are needed during the acquisition period.  

Sourced through Scoop.it from: linkilaw.com

Here's a heads-up article out of the UK. Much of it applies on this side of the Atlantic. If the author is describing your company, contact EGS to begin the acquisition process at no cost.

4 business exit planning factors you should consider

Business owners get caught up in the day-to-day challenge of establishing & growing a business, and it often doesn’t feel like the right time to think about your next move. Yet an exit strategy should be a core part of your business exit planning.

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

Solid advice from the U.K. These 4 factors are also part of EGS approach. Begin a conversation with us to learn more.

Your Business Exit Strategy In 9 Steps

Exiting your business is inevitable. It will happen whether you’re in control of it or not. So make a plan now and start getting your business ready for the next owner. It’ll help you command a better price, and increase the chance that your business survives.

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

Whether you are ready or not, EXITS HAPPEN. Here's a simple checklist artice, a four minute read. What to do when finished? Call EGS to implement a custom, value-driven exit strategy.

How to Value Your Businesss

As the seller, you will have worked hard over years, maybe even decades, and will want to maximize the amount you receive. As the buyer, you will want to ensure you’re receiving maximum value for your dollar, and feel reasonably secure in the eventual profitability of the transaction.

Sourced through Scoop.it from: us.businessesforsale.com

This may be the longest article (three parts) we/ve recommended. Solid content here. One method not discussed is the outside consultant. With a storied track record, EGS is ready for the hard work of setting the highest possible valuation.

How entrepreneurs should plan to leave their business behind

Another external resource to consider is an external advisor or broker — someone with expertise in your industry — to help navigate the process and get you the best possible deal. And finally, if you don’t want to be a part of the acquisition after it happens, you need to make yourself needed but not necessary so they’re buying your team and your company, not you.

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

You may find your situation in the case study included in this article. No? Ask EGS to evaluate then recommend a course of action for your specific business.

Start-ups: How to get your exit strategy right

You’ll need to be clear on your exit strategy,’ says Cordrey. ‘That means being upfront about whether you intend to stay on and help take the business to the next level. And whether you want to take all of your cash off the table, or defer some of the payout.’

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

Kind of an interesting case study here. Every exit plan is unique, and calls for expert guidance. it's what we offer at EGS, starting with a courtesy consultation.

Exit Strategy Definition - Entrepreneur Small Business Encyclopedia

The planned exit of an owner from their business

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

Emphasis on planned. No plan? EGS has your back. We have short cuts to bootstrap your strategy.

The Most Important Steps to Getting Your Business Ready to Sell

If you're planning to sell your business, it's a good idea to "dress" it for success to help attract the best suitors. Just like selling a house, preparations need to be made. As you transition from business builder to owner to seller, we at MGA urge you to ask yourself these questions:

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

These MGA guys out of Houston offer several good questions to cue-up a business selling effort. Digest, then contact EGS to ramp-up your effort.

“Failing to plan is planning to fail” - Put your succession plan and exit strategy in place today

As a business owner, you will spend years developing your business. From concept and your first ever business plan, through to applying for investment and forecasting your business takes on a life of its own. 

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

Although this British firm likely won't be able to directly assist with an exit strategy, their insight helps. EGS is your go-to for quick succession planning and an exit strategy.

Before you start your new business, think about your exit strategy.

...A good business plan is long-term, with both a start and a finish. By planning your business exit strategy before you begin, your journey will be more rewarding, and your business better equipped to deal with future challenges.

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

Here's a revised favorite, repeated for your benefit. EGS is 100% on-board with this advice.

Engineering Business Owners, Plan Your Business Exit Strategy?

A business exit strategy is vital for anyone looking to cease involvement with their company. Here's why you need to take your time and develop a solid plan.

Sourced through Scoop.it from: insights.executiveheadhunters.co.uk

Solid stuff here. Contact EGS to get started.

Engineering Business Owners, Plan Your Business Exit Strategy

Nobody wants to be caught out if they’re faced with a sudden unexpected scenario, and by developing a business exit strategy you can help ensure that should you or another senior manager or director have to leave the company on short notice, you aren’t left in a difficult situation.

Sourced through Scoop.it from: insights.executiveheadhunters.co.uk

We sometimes come across an article that pretty much gets it right, as this one does. EGS has lots of experience with tech firms and will get the ball rolling swiftly.