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The Business Owner’s Checklist Includes Exit Strategy

Regardless of when you eventually exit, it’s important to plan ahead so it can be done smoothly, with as little financial impact to the business as possible. Start thinking about succession management sooner rather than later – it’s a good opportunity to evaluate your business and identify its future leader.

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

Take notes because they guys understand the future. They recommend planning ahead. EGS is your plan-ahead ally, and it starts with a courtesy consultation.

The sweet taste of succession planning | Virginia Business 

Planning the next steps for your company helps ensure stability for your brand and its stakeholders and can also provide a source of income for your family. By outlining next steps through succession planning, you can stay ahead of the competition and maintain the legacy of your family business.

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

Written with the wine industry in mind, this succession planning argument rings true and provides incentive to get your exit plan up to snuff. Vintage stuff? You be the judge. Or contact EGS to get it right. We’ll toast together for 2018.

Exit Plan: How a succession plan can save your business (and protect your family)

At some point, you may want to pass the business on to your children, or to someone else in the company. You may want to sell your share to your business partner. Or you may want to sell the business to another person or company, and retire on the proceeds. Ideally, you will choose the timing and method of your exit from the business. However, the way life unfolds sometimes, business owners do not always have a choice in what happens, or when.

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

Good advice and insight. Your best Next Step is to contact EGS for a powerful and free consultation.

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.

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.

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.

 

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.

 

Who Needs a Succession Plan? Definitely You

…about 10 million baby boomers plan to sell or close their businesses during the next decade. And even though 78% of small-business owners are counting on the proceeds of a sale to meet 60% to 100% of their retirement needs, only 30% of owners have a formal succession plan. That’s a pretty big wave of prospective retirees, many of whom have not put much thought into how they might step away from their businesses.

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

There are some things in life that take time, no matter how much you want to rush them. Making your business sellable often requires significant changes; and a prospective buyer is going to want to see how your business has performed for the three years after you have made the changes required to make your business sellable. Therefore, if you want to sell in five years, you need to start making your business sellable now so the changes have time to gestate.

Succession planning – Thomas International

If one of your key employees resigned tomorrow, would you be prepared? We work with smart businesses to identify and develop pools of talent at every level of the organisation, keeping you one step ahead and creating competitive advantage.

 

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

World class consulting firm provides checklist for succession planning within your exit strategy. We agree will all of it but EGS is ready to add ideas unique to your business.

 

Advice for succession planning – Articles and tools

When the time comes for you to leave your business, will you be ready? Find out how you can make a smooth transition to new ownership and management.

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

From a key Canadian bank comes this checklist article. It demonstrates the complexities of exit planning. We’d like you to think of EGS as your GPS for setting the right strategy and tactics, cutting through the complexity.