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.

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.

Why Investors Are Asking About Your Exit Strategy (And What You Should Say)

Investors put money into risky startups to drive a superior return versus other investments. Investing in private companies has the additional risk of an illiquid stock, but implies some amount of patience with these investments. Ultimately, in order to have liquidity, there needs to be an exit.

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

Investor-fueled startups need an exit strategy from day one. Inc magazine details, in general, why and what to offer. EGS will get specific with your during our courtesy consultation.

There's Never a Great Time to Plan Your Succession

... just to be clear, since the most critical choices are the ones we make with our hearts rather than our heads, you'll know it's time to go when your fears are greater than your dreams.

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

I like this emotion-driven article from Inc. It addresses the avoidance factor that we often encounter at EGS. Our free initial consultation will help move the ball forward.

Succession Planning Part 1: Establishing an Exit Strategy

Do you want to sell the business to an outside party and completely remove yourself and your family from future operations? If so, working with a consultant to maximize the value of the business can be invaluable. He or she can help get systems in place that will make your operations attractive to specific types of buyers.

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

Here's exit advice from wealth management experts. EGS agrees with much of it. Good, short read. Then give EGS a call to begin the exit strategy process.

Planning for Business Succession - Jacobowitz and Gubits, LLP - Counselors at Law

A properly planned exit strategy ensures that the benefits of your hard work and your vision for that the business continues to thrive.  It is a natural succession and necessary step toward achieving your goals and protecting your assets.  Additionally, it helps ensure business continuity. The sooner you start to plan, the more options and flexibility you will have.

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

This New York law firm provides clear insight. Short, good read. When you finish, consider a courtesy consultation to adapt the insight to your specific situation.

6 Legal Issues Your Business Succession Plan Should Address - Biz Epic

One of the important and necessary parts of your organization’s business strategy is succession planning. A succession plan can help protect a business in case of retirement, a divorce or the death of the owner or key executives in the business. In other words, succession planning is all about laying structures of how business is going to proceed once the owner is not around.

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

Separate from an actual exit strategy, a succession plan provides contingent guidance. Contingent on what? Contact EGS for a courtesy evaluation of your needs.

How to Retire When Your Business Partners Are Sticking Around

It's easy if you and your partners plan to retire at the same time: You can sell the business to outsiders all at once. But if you don't expect that to be the case, you'll need a system in place to allow you or any of your partners to sell shares at a fair price, without damaging the business.

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

This is a good argument favoring buy-sell agreements. EGS fully supports them and is ready to illuminate the benefits. Read our popular article here.

Exit strategies for your family business

After many years of hard work and most likely plenty of sacrifices, many family business owners look to reap the rewards of their efforts over the years. While many will be ready to move on to the next phase of their life, there are a myriad of issues that will need to be considered first in relation to their business:

Sourced through Scoop.it from: kpmgsa.smh.re

KPMG delivers a good exit checklist for family business owners. Need a guide and coach? EGS is ready.

Exit Planning: A Process NOT an Occurrence

Successful leaders of companies are often said to be visionaries. The pioneers who have empowered their companies and employees with objectives and values from which the companies were built. Why is it so often that these so-called visionaries lack the sagacity to treat exit planning as a multi-stage process as opposed to an occurrence?

 

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

Short piece underscores the wisdom of colleagues. At EGS, we treat exit planning as a process. Contact us to learn more at no charge.

 

What to Expect When Transitioning Your Business to a New Owner

An understanding of the transition process will go a long way to making selling your business smooth and amicable. While each business owner chases success in his or her own unique way, there are some things nearly all owners have in common. Hard work, determination, a vision of what could be, and the will to make it happen—these are the stock and trade of anyone who starts a business. There’s also another common factor that binds together all business owners: The need to someday transition your business to its next owner.

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

When Eide Bailly talks, I listen. This respected accounting firm share their insight in an interesting quasi-case study. EGS is ready to apply this insight to your specific goals. Use our new Contact page to get started.

 

Exit Strategy: Know How You Will Leave Your Business | Investopedia

Yes, starting, scaling, running and now exiting your business is a ton of work. But as with most things in life, if done well and planned for, the things we put our heart and soul into tend to work out better than if we just shoot from the hip.

 

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

At EGS, I',m partial to simple, easily understood opinions based on experience. Here's one. I'll give it a little air time because it repeats good advice.

 

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. Having an exit strategy can actually improve your business. Learn how one client used their exit strategy play to increase their website value by nearly 20%

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

Here's a fairly long, detailed article with only one problem: one year is not sufficient lead time for many businesses. Directed at website owners, you'll find plenty of solid advice here for any business. And, most companies will need a guide who has been around the block several times. That would be EGS.

 

Canadian View: How should startups approach an exit strategy?

There’s a strange dance that startups weave when it comes time to think about exit strategy. If you actually approach buyers and say you’re for sale, often buyers wonder what’s wrong. Why does this company want to sell? Are their best days behind them? Do they have no ambition? Are they not able to raise money?

 

Sourced through Scoop.it from: betakit.com

We like this short article. It offers advice to startups in Canada, noting that most exits for young firms take the road labelled "acquisition." EGS has the best road maps for SME's, young, mature or old.

 

Hold on to Employees By Letting them Go

Leaders can do a better job of hanging onto workers by focusing on their development rather than on their retention. To retain top talent, companies might want to make it easier for people to go — to another role or department that is.

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

Employee job satisfaction is a top value driver. During our complimentary consultation, EGS will impart wisdom that goes beyond this short article.

How to Plan an Exit Strategy | Start a Business - | Startup Business

It might sound odd to plan to sell a business before it’s even started, but it makes good financial sense, according to entrepreneur Duncan Bannatyne, formerly of Dragons’ Den, who says: “All my businesses are always for sale at the right price.”

 

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

Once again, our colleagues in the U.K. offer solid insight the "begins with the end in mind." Established businesses without a plan can still do well. Contact EGS to learn more.

 

What Does Your Succession Plan Look Like? (Part I)

Ownership transfer isn't an easy subject for electrical distribution firms that know they should be thinking about the next generation of ownership... .   owners of small to mid-sized companies as a whole tend to have a tough time when it comes to succession planning.

 

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

I discovered this excellent article in a magazine directed at electrical parts distributors. And it applies to many markets, so enjoy the content. Then give EGS a shout-out for a consultation.

 

Time to Move On? Here Are 7 Strategies for Exiting Your Small Business

An exit strategy is something that every investor in a small business looks for. But even if you are running a one person sole proprietorship, you need an exit strategy. For you, as for any investor in a business, the questions are the same when it's time to move on.

 

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

Although the guy in the photo looks like he might be wearing prison stripes, this is actually a decent article with some fresh insight. Contact EGS to get insight specific to your business.

 

Why Shareholder Agreements Are Important to Startup Businesses

Starting up a new business is exciting and stressful. You are all optimism and energy as the new company starts to take shape. You and your co-founders or investors may not want to think about anything negative happening or slow down to plan daily operations, founder exits, or share valuation. You must, for the protection of your startup. 

 

Sourced through Scoop.it from: info.vethanlaw.com

Good article! At EGS we not only agree with 100% of this lawyer's counsel, we've prepared our own guidance. When you arrive on our landing page, travel down to the free Stockholer Agreements article (PDF download).

 

When Is The Best Time To Sell Your Business? - SWAAY

When is a good time to call it quits and hand over the business to someone else?  That is a complicated question with even more complex answers.  I’ll try to simplify it for you a bit in this article by offering you some cues that will help you identify the best time to sell your business.

 

Sourced through Scoop.it from: swaaymedia.com

Charming article tickles your emotional attachment to the business, whether start-up or mature. The article really says "it's complicated" to sell a business. EGS is ready to help de-complicate.

 

Developing an Exit Strategy | BizFilings Toolkit

Barely 30 percent of family businesses survive into the second generation and fewer than 15 percent endure into the third. If the business of succession is not done by process (through planning), it will be done by crisis (a failure to plan), with perhaps disastrous results.

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

This relatively short article has a lot going for it. I particularly like "If the business of succession is not done by process (through planning), it will be done by crisis (a failure to plan), with perhaps disastrous results." During our free consultation, EGS will discuss the process to avoid crisis.

"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.

 

Selling Should Be an Item on Every Business Owner’s To-do List

Even if you don’t plan on making an exit for 20 years, there are many benefits to keeping your exit in mind as you build your enterprise. There are very few situations where the owner gets to throw the next owner the keys. In most cases, it’s simply not that easy. But there are steps you can take throughout the life of your business which will make transition and succession easier while also contributing to your legacy and the business as it grows.

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

Our colleagues in Canada present a quick but accurate article explaining why an exit strategy is essential. Essential? You bet, and it's how we roll at EGS.

| Myth #4: I’ll Be Able To Sell When I’m Ready

First, read about the myth. Reality: Successfully selling your business can take years of preparation, as well as the right timing for you, your business, your industry and the economy. It’s not like selling a house. You need a pro to navigate your specific circumstances.

 

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

The folks in Perth (Western Australia) have their heads screwed on right. This is a charming short article that could have been ripped from the EGS playbook. Are you being misled by Myth #4? EGS will set you straight, fast.

 

Quality advice on selling a business. - Hull Accounting

Here are a number of ways that we are able to form a part of your team to assist to sell you business.

 

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

Even certified accountants recommend building a team to value and sell a business. Here's a checklist article from a U.K. firm that is largely applicable in the U.S. Heed the advice to build a team: at EGS, we provide the full team including CPA services.

 

Tips for Selling Your Small Business

It’s easy to make mistakes when you’re selling your business, especially if you’ve never gone through the process before and didn’t have an exit strategy in mind since the beginning. Check out the following tips for selling your business fast and for high profits.

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

I'm not sure if I curated this because of the graphic or the message. Actually, it's the message. I disagree with the advice to start with a broker. At EGS, we help owners start with a strategy, and it may include the use of a broker. First, let's get the strategy established. Then, you'll know the real valuation.

 

What to Consider When Planning Your Business Exit Strategy, Part II

Many bad exits happen because people act out of emotion, not logic and fact. The more you do to prepare and make sure you don’t get into a situation where you are making a decision without guidelines and fences in place, the more likely you are to get the outcome you truly desire.

Sourced through Scoop.it from: rlotraining.tumblr.com

The emotional side of exit strategies is the topic of this short article. It includes a checklist on "non-negotiable" elements to consider. At EGS, we'll help you develop a fully custom checklist to propel your interests.

Exit strategies for family business

Fully preparing the business for your exit is not a small task – it’s a stressful and risky undertaking, with tax implications as well – and many family business owners benefit from professional advice. As you contemplate this major life change and consider your options to exit the family business, you need to understand what drives value in business in today’s market and what potential buyers and investors are looking for.

Sourced through Scoop.it from: kpmgsa.smh.re

KPMG in South Africa assembled this checklist article. It paints a realistic picture and we agree with nearly all of it. EGS will help you understand business value drivers and features that will improve the attractiveness of your operation.

Inside-out Succession Planning - Part 1

What motivates a successful plan? Only about one in three first-generation family-owned businesses successfully transfer to the children. A quarter of those businesses fail to transition to a third generation. Why such dismal results?

In my experience, it's because the founder did not adequately plan for succession. The succession program was not anchored by a clear "inside out" reason.

 

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

Is your exit strategy actually a succession plan to keep the business in the family? Here's Part 1 of a series that provides ample food for thought. And, EGS can help you convert thought to action beginning with a courtesy consultation.

 

When Is the Right Time to Sell Your Business?

As with any long-term relationship, a person’s attachment to their business may deepen or diminish over time. But if starting and maintaining a business demands profound emotional effort, leaving one is even more fraught. Whether you know in your heart that it’s time to move on, or are only starting to think about it, breaking up is hard to do.

Sourced through Scoop.it from: linkis.com

Short article reveals the basics and dives into the emotional components of the end game. This is often strange territory for owners. EGS helps big time with the navigation and decision process.

Tips to Make Succession Planning a Snap for Your Family Business

Sooner or later, everyone wants to retire. But if you own a family business, retirement isn't just a matter of deciding not to go into the office any more. Besides ensuring that you have enough money to retire on, the whole question of what happens to the business becomes paramount. Who's going to manage the business when you no longer work there?

 

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

Good tips here. Get all the right tips and more with a complimentary consultation with EGS.

 

How to Use Business Valuation for Exit Planning

Need to develop a business valuation for exit planning purposes? We can help. Read more about how a business appraisal helps you get the most from your sale.

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

This brief article delivers solid advice. EGS practices business valuation appraisal as a planning tool to set the stage for the best possible outcome. Get our customized insight beginning with a courtesy evaluation.

 

5 Mistakes to Avoid During Exit Planning

Selling an online business is an attractive prospect for many business owners; but if you're the seller and your exit strategy lacks forethought and cohesion, you could end up making mistakes that cost you.

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

This article from a San Antonio source is an interesting read. It reinforces the idea of planning early. At EGS, we can help you avoid the mistakes detailed in the article and a lot more. Call for a courtesy consultation.

Business Exit Strategies for Small Business Owners - The Accountant's View

Business Exit Strategies for Small Business Owners in a 32-minute video

 

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

Got a spare half hour? This YouTube video by a Texas firm will take you through the basic considerations of small business exit strategies. A useful primer, you'll then want to contact EGS for a courtesy consultation leading to a custom plan fitted to your exact needs.

 

Make your exit a success - Haines Watts

When you are growing your business, it may not feel like the right time to think about your exit strategy. Download our advice.

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

From our colleagues in Great Britain comes this on-target guidance in downloadable form. About 98% of it is accurate for the U.S. market. EGS is your partner for implementation (and we'll customize our approach to your specific needs).

Startup to succession – Sean Elliot’s story - a Case Study

For owner managers, succession planning is often a double edged sword; there are the twin issues of how the business will be owned, and who will lead the company once the owner steps down.

 

Sourced through Scoop.it from: www.scottish-enterprise.com

Here's an interesting case study out of Great Britain. Sean Elliot paid attention to the need for lead time, and it paid off. At EGS, we believe in lead time and have solutions if you don't have any.

 

Planning Your Exit Strategy | Wells Fargo Advisors

An exit strategy involves developing a plan to pass on responsibility for running your business, transferring ownership and extracting the money.

Sourced through Scoop.it from: www.scl.bz

Wells Fargo delivers solid advice in this well-written article.

 

You built the company, now you are retiring

Four million baby boomers currently own and operate American companies, representing roughly 66 percent of all domestic businesses with employees. What happens to their companies and employees when these owners retire?

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

Here's an ESOP-centered article that focuses on shifting demographics in exit strategies. It's a good read. You'll get custom attention to ESOPs and all other tactics when EGS consults with you.