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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.

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.

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.

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.