Exit Planning Benefits California

Exit Planning Benefits

Your retirement and transferring your life's work should not be left to chance.

Exit Planning Benefits

Someone’s sitting in the shade today because someone planted a tree a long time ago. — Warren Buffett

For business owners, exiting right and retiring well takes planning. Their company, a complex and illiquid asset, represents a substantial portion of their net worth. Coordinating all of the financial, legal, tax, estate, personal, family, business, market and legacy considerations is complicated and emotional for them. Exit (or succession) planning allows owner to control how and when they exit, while maximizing value, preserving wealth, and protecting their legacy.

Exit Planning Benefits

  1. Uncovers value and marketability gaps – an important starting point
  2. Sets your exit priorities, strategies and time frame
  3. Increases value for all shareholders
  4. Makes the company attractive to more and better buyers
  5. Insures business continuity and seamless management transition
  6. Minimizes your financial risk
  7. Minimizes your taxes
  8. Prevents costly mistakes

Whether you intend to transfer your company to family, management, or a financial or strategic buyer, exit planning produces a more successful exit. On a personal level, exit planning settles your mind, re-energizes you and reduces your stress by focusing your efforts and giving your work greater purpose. See Exit Planning Process.

Failure to Plan

Few business owners have the time or training to tackle exit planning on their own, therefore many owners procrastinate when it comes to exit planning. Failing to plan can result in a business owner …

  1. being forced by unplanned circumstances to sell on an uncontrollable time table
  2. undervaluing their business and leaving money on the table in a bargain sale or liquidation
  3. giving up more of the proceeds in taxes than was necessary
  4. wasting time and money on one or more sale transactions that fail to close
  5. failing to achieve his or her retirement goals
  6. missing an opportunity to leave a lasting legacy
  7. burdening his or her family with matters they were unprepared for

Fortunately, you don’t have to spend your time learning the ins and outs of succession planning. This is where Exit Strategies comes in! Contact Al Statz or Ron Mills for an initial conversation. Everything we discuss will remain confidential.