A Strategic Planning Driven Exit Strategy
to Achieve Your Ultimate Goal
Within the framework of a process that advances the owner’s overall thinking about their exit, Your Comprehensive Strategic Plan must include:
Contingency planning:
What happens to the business and your families if you die unexpectedly?
Business planning:
Including short-term and long-term planning on an annual basis, focus, accountability, KPI, the timing of the sale of your business, or the strength of your cash flows, and the value drivers of the business.
Succession planning:
Assessing your management team to make sure that you become operationally irrelevant to the business. Keeping you focused on instilling leadership into the next generation of managers and leaders.
*Financial planning:
Identifying criteria and options for replacing your income after you leave the business, with the distinct focus on your primary asset, the illiquid business, to meet your future financial needs.
*Estate planning:
Planning how the business is going to transfer to your children and future generation, incorporating the unique attributes of a privately-held stock into your overall planning discussions or the form of assets derived from exiting the business and how they will be structured for future generations.
Transition planning:
At a personal level, addressing how to achieve the owner’s personal goals and how you are struggling with delegating and transferring control that you perceive you need, to fulfill your life and make you feel significant in the world. An advisor who will not or cannot have this conversation with you as the owner as a part of your exit plan is remiss. – This is the Mental Readiness piece necessary to get to your ultimate goal of the exit plan.
*Tax planning:
Covers the tax implications of a business sale within the specialized field of business transfers.
Comprehensive strategic planning is essential to optimize your exit strategy.
