Should you sell your company now? Not only does the answer depend on you (how much fire you’ve got left in your belly) and on your exit goals (can a sale achieve your retirement needs?), it also depends on what you’ve got to sell, what industry you are in and M&A market conditions in your [...]

When you started your business, you may have had issues on your mind other than choosing the best corporate entity form for an eventual sale. Now that you are thinking about your exit, however, entity choice (C or S corporation) has become critically important. That’s because selling your company’s assets inside the wrong entity can [...]

“I can’t play golf every day.”
“My wife wants to see more of me — but not at every breakfast, lunch, and dinner!”
“What do other ex-owners do after they’ve sold out?”
Failing to answer these concerns can create vacillation, reluctance, and ultimately, an unwillingness on the part of many owners to proceed with planning for their business [...]

What is a good way for you to get top dollar for your business?
First, consider selling to an outside third party, not to an insider such as a child, key employee or co-owner. Outside third parties typically have the cash and the ability to pay a higher earnings multiple for your business.
Secondly, proceed through planning [...]

A number of years ago, I met with Diana Duff, the owner of Major Machining, Inc. (MMI), a machine shop. She wanted out. I suspected that her severe case of “early onset burnout” was due to the departure of her three-person management team six months earlier. These employees had not just left the company, they [...]

Business owners often ask, “How much is my business worth?” The question may be irrelevant and a much better question is: “What is the most I can get for my business under the most favorable terms and conditions?” Answering this question in a more practical manner requires following one of two approaches. The first is [...]

We’ve talked about some important steps in developing a successful business exit plan: Setting a tentative Departure Date so that Advisors can put all planning efforts in context;  assessing your post-retirement financial needs because meeting them is a key measure of your Exit Plan’s success; choosing a successor to give structure to your Exit Plan. Keep in mind, it is not [...]

 
What exactly is a Business Exit Plan and how do you create one that allows you to leave your business in style. There are an infinite variety of businesses and business owners. Each owner’s exact Exit Plan will vary, yet most all contain common elements. 
The following questions will serve as a framework to develop a Business Exit Plan. [...]