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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.