Exit Planning

/Exit Planning

Turning a Lifestyle Business Into a Business Enterprise

2019-07-04T11:01:13-04:00

Many business owners start their companies as lifestyle businesses to support a certain kind of lifestyle that they want. Some found businesses because they have an urge to create and build. Others want to be their own bosses. Still others want to control their own destinies. Whatever the reason, many businesses start as and evolve [...]

Turning a Lifestyle Business Into a Business Enterprise2019-07-04T11:01:13-04:00

A Planning Process for Future Success

2019-06-25T10:36:17-04:00

Do not act as if you had ten thousand years to throw away. Death stands at your elbow. Be good for something while you live and it is in your power. –Marcus Aurelius, Meditations Building a successful business likely took you years of deliberate planning. From your initial business plan to now, you’ve built something [...]

A Planning Process for Future Success2019-06-25T10:36:17-04:00

Protecting What You Care About: Business, Family, & Employee

2019-06-05T11:22:22-04:00

As a business owner, you’re likely the most important person in your business. You’re probably the breadwinner for your family. Your employees rely on your leadership and success for their livelihood. A lot of people depend on you. What would happen if, without warning, you were to die or become incapable of running the business? [...]

Protecting What You Care About: Business, Family, & Employee2019-06-05T11:22:22-04:00

Maintaining Control, Minimizing Risk, and Rewarding Your Best Employees

2019-05-24T15:14:58-04:00

For many small-to-mid-market business owners, there are few things more important than maintaining control of the company, minimizing risks for the company, and rewarding the employees that make the company successful. Ownership transfers to the company’s most valuable employees can do all of these things with proper planning, but there is a caveat. While it’s [...]

Maintaining Control, Minimizing Risk, and Rewarding Your Best Employees2019-05-24T15:14:58-04:00

Eight Ways to Exit Your Company

2018-09-21T14:24:59-04:00

According to Paul Simon, there are 50 ways to leave a lover. Not being as creative as Mr. Simon, we’ve only come up with eight ways for owners to leave their companies: Transfer the company to a family member Sell the business to one or more key employees Sell to key employees using [...]

Eight Ways to Exit Your Company2018-09-21T14:24:59-04:00

DIY vs Expert Planning

2018-06-10T14:25:51-04:00

Some business owners believe that once they understand the basic Exit Planning process, they can develop and implement their Exit Plans by themselves. They feel that the idea of bringing in a team of professional advisors is both time-consuming and expensive. After all, they’ve built a successful business, why can’t they do an Exit Plan [...]

DIY vs Expert Planning2018-06-10T14:25:51-04:00

Common Errors of Omission in Business Continuity Arrangements

2018-06-10T14:27:33-04:00

Business continuity and buy-sell agreements go hand-in-hand. For many advisors a buy-sell agreement is business continuity planning. Indeed, buy-sell agreements are a staple of business continuity planning, but they are only one part of that planning. Today we’ll look beyond buy-sell agreements and discuss the planning omissions that can be fatal to the continuity of [...]

Common Errors of Omission in Business Continuity Arrangements2018-06-10T14:27:33-04:00

Begin with the End In Mind

2018-06-10T14:28:54-04:00

The Importance of Establishing Goals “To will is to select a goal, determine a course of action that will bring one to that goal, and then hold to that action ‘til the goal is reached. The key is action.” –Michael Hanson Philosophers, business owners, and successful people from all walks of life appreciate the importance [...]

Begin with the End In Mind2018-06-10T14:28:54-04:00

Common Problems With Business Transfers to Children

2018-06-10T14:30:06-04:00

Many business owners instinctively gravitate toward transferring ownership to their children.  However, they must be mindful of the common, sometimes devastating, problems that go along with a transfer to children.  While disagreement in third-party sales and sales to management can affect owners' business lives, those same disagreements can have wide-ranging effects on the personal lives [...]

Common Problems With Business Transfers to Children2018-06-10T14:30:06-04:00

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This Is A Custom Widget

This Sliding Bar can be switched on or off in theme options, and can take any widget you throw at it or even fill it with your custom HTML Code. Its perfect for grabbing the attention of your viewers. Choose between 1, 2, 3 or 4 columns, set the background color, widget divider color, activate transparency, a top border or fully disable it on desktop and mobile.