Business Exit FAQ: (1)
Why should every business owner develop an exit plan?
It makes no difference if your business has just started or has been in operation for 15+ years. It is important that every business owner formulates a business exit plan. Why? Because every owner will eventually exit. It may be this year or sometime in the future. But you will eventually exit.
What you want to avoid is an exit that results into a financial loss. An exit plan that works alongside your business plan sets the goals you need to maximize the financial benefit upon exit.
Hopefully your exit will be for retirement. But if age, illness, or simply being burned out speeds up an exit, you will have a plan in place that allows you to exit with your financial goals in-tact.
- why should every business owner develop an exit plan?
- what if I don't have long-term financial and estate planning goals, can the Novars Group help?
- what if the valuation of my current company position is below my financial goal?
- what are the next steps after you complete an assessment of the business fundamentals?
- how long will the implementation of the plan take before I can see my valuation go up?
- can we move to the exit (direct sale) regardless of the current valuation?
- introduction: exit planning model
summary introduction of the exit planning model with FREE download
- review the long-term financial & estate planning goals
reviews the long-term financial and estate planning goals and objectives
- start the exit plan with a business valuation
discuss the exit planning process that begins with the business valuation
- does the valuation meet owner objectives
does the valuation meet the financial and estate planning goals of the owner
- if no: revamp operations to increase the valuation
if no: move down the model to review the business fundamentals
- if yes: decide family succession, ESOP, or direct sale exit
if yes: decide on the type of exit - family succession, ESOP or direct sale
- choosing the direct sale as your exit plan
reviews the direct sales process as an exit plan
- M&A/brokerage services
reviews our business brokerage, business selling and M&A services
- current listings
list of current businesses that we represent including buy side
- exit planning design
review of the exit planning process with advisory points
- valuation services
finding the value of your company using 3 key approaches
- business advisory
not ready to sell until the value is up - we provide the tools
- business listings services
selection of services for business owners selling on their own
- tools & other stuff
helpful tools to help you make decisions