To most small business owners, their business is one of their most significant assets. They are depending on a successful sale to fund the next chapter in their lives. By not knowing the answers to key questions about their business they are putting their future at risk. Avoiding these issues becomes their elephant in the room.
Achieving a better exit — a more strategic succession — starts with due diligence, done early. Discovery, planning and action makes it so.
Owner of a profitable company? Here’s how to reduce taxes & safeguard wealth. Because of changes to Canadian tax laws combined with lower than optimal returns on fixed return asset classes like GIC’s or bonds savvy investors looking to participating insurance as a way to get their money working for them in more ways than one.
If you’re anything like the average mid-market business owner, chances are you don’t have a formal exit plan. Or, it is incomplete. You are not alone and there is help.
A business owner’s net worth is made up of 2 things: their personal wealth and the value of the business. The easiest way to increase net worth is to build value in the business. Not doing this well before selling means that sale proceeds won’t be maximized or even worse, the business is unsellable. The result, the owner doesn’t end up with any gain in net worth upon departing the business.
When the owner is not ‘the business’, but has a great team and strong business drivers, the company will have greater value to a buyer. Once you are inconsequential in your business, you have successfully taken one of the key steps to building value in your business. Learn more from John's blog including an article share: Building Value is the Win-Win-Win of Exit Planning.
Our experience with business owners who have completed a transaction reinforces that being prepared operationally and emotionally can avoid derailing the sale.
Can your business operate without you? Put systems and protocols in place to ensure your business will be successful in your absence...
The most successful accounting firms will readily admit to desiring additional revenue streams. Based on the present demographics and research, Exit Planning is the obvious market for them...