written plan

Creating a Written Plan Is Crucial for an Exit

It’s very useful to create a written business plan when starting a business or growing a business once it is established and profitable. Creating a written plan forces the business owner to think about goals and the steps necessary to accomplish those goals. It’s equally useful to have a written plan when exiting the business,…

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buy-sell agreement

A Buy-Sell Agreement: Do You Need One?

If you are a business owner in a family or multiple owner business, you may have heard of buy-sell agreements. You may be unsure of what they involve or if they are helpful. Here we will discuss what a buy-sell agreement is and why your company needs one. What Is a Buy-Sell Agreement? A buy-sell…

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third-party sales

Unexpected Challenges to Third-Party Sales

Many business owners will assume they will sell their businesses to a third party when they exit the company. Some owners even start their businesses intending to find a larger, more capital rich company to purchase the business and allow them to retire early. One of the real advantages of third-party sales is the potential…

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family conflict

Family Conflict in Exit Planning

Exit planning is a process that must be handled carefully in order to insure the best outcome for the business owner. When exit planning involves a transfer from one family member to another, there can be additional layers of complexity. This is especially true if any sort of family conflict is present either in the…

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results

Getting the Results You Want

When you begin to consider exiting your business, you may find the process somewhat overwhelming. This is normal. You may also decide that the professionals you are used to consulting about matters relating to your business aren’t of as much help when it comes to transitioning it to a buyer. This is also normal. A…

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transferable value

Exit Readiness: What Is Your Company’s Transferable Value?

What is your company’s value? This is a key question for any business owner who intends to sell his business at some point in the future. It may seem like there should be a simple answer to this question, but value is actually a complex issue. The value of the business to the owner can…

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two-pronged approach

Exit Planning Goals: a Two-Pronged Approach

Too often business owners do not begin exit planning far in advance of when they expect to transition their businesses. These owners miss out on the two-pronged approach to exit planning that can be helpful in multiple ways. When given enough time to work with clients, exit planning advisors can help them meet general exit…

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business attractiveness

Business Attractiveness: Preparing for a Sale in Advance

If you’re a business owner who has spent your time and energy building a company, it’s very likely you will want to sell that company eventually. This is an understandable and financially necessary goal for most owners. Selling a business is much more complex than selling a house, however, and there is far more at…

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value drivers

Increasing Business Value by Installing Value Drivers

The majority of business owners will attempt to gain financial security when they exit their businesses. They need that money to finance their future goals, whether that be retirement or another business venture. It’s far better when owners understand how important it is to grow that value far in advance of when they need to…

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compensation

Tie Compensation in Family Businesses to Market Value

Family businesses have many strengths, and there are definitely benefits to family members working in and for their family business. However, the relationships family members have with each other and non-family coworkers make this business type more complex both emotionally and financially. Combine this with the always sticky issue of compensation, and there will be…

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