Exit Planning Secret #4 – Involve the Executive Team
Effective exit planning entails a team effort. Who’s on your team?
Effective exit planning entails a team effort. Who’s on your team?
Step four of the exit planning process is the point at which we gauge our progress, revisit our inputs and ensure we’re still on track with our future exit goals.
How to cascade long-term strategic goals down into an annual plan, business operating system, and risk reduction program to drive value creation.
It is not only possible to stand out from your exit planning peers, it’s critical to do so – both for the health of your business and your own sanity!
In the 1st step of the Exit Planning 2.0 Framework, we have gone through the business value baselining process. We defined needs and measured wants via a financial needs analysis and goal articulation. Now, for instance,
Many business owners are ill-prepared to exit their business when the time comes. CPAs are uniquely positioned to help clients plan for their future transition early and often by providing exit planning services.
To start an exit planning process we need to be clear where we’re starting from and where we’re trying to get.
From undervaluing, to missing life goals, and personal burn-out, not having an exit plan can be a source of significant risk for the business owner and their families.
To be highly successful at this work you have to develop a thorough understanding of how your clients’ businesses actually work – how they generate sales and turn it into cash.
Owners lean on attorneys at all stages of planning and successfully achieving a transition.