What do I need to consider?
Business owners need to consider several important questions and seek answers as early in their business careers as possible:
- What is my “life plan” after my business career has ended?
- Do I ever want to really retire and yield control of my business, or do I seek liquidity?
- How do I protect by business and my family if anything happens to me or my key employees?
- How do I maximize the value of my business before sale?
- Who will run the business after me?
- What are the mechanics of an effective, tax-efficient transition?
- How do I extract maximum value from my business after so many years of hard work?
I Want an Exit Plan – Where do I Start?
To help you answer your questions, we co-authored a book, Get Out Alive!, as a crash-course in business succession and exit planning. Our book will walk you through the seven steps to a successful conversion of business equity to personal wealth
- Determine Exit Objectives
- Establish Value
- Protect Against the Unexpected
- Make the Business more Valuable
- Select Exit Strategy Model
- Create Wealth Preservation Plan
- Build Estate and Legacy Plan
© 2015 by The Damer Group, LLC dba Eighty20 Books
You can order your copy of the book and find other helpful resources under the Succession Planning Resources tab.