The Business Owner Succession Strategies (BOSS) Group provides training specifically designed to help business owners recognize the challenges of succession planning and implement appropriate solutions.
Too many business owners make the mistake of thinking that the time to prepare and develop an exit plan is when they are ready to exit their business, Unfortunately, once they reach that point, most of the value that could be generated by developing and implementing a productive exit plan has already been lost.
So begin today. It will require a significant investment of your time and resources. But if you chose to take that step, you are likely to look back at it as one of the wisest investments you have ever made in your business.
What is an Exit Plan? How do I start?
There are three parts to an Exit Plan:
- Personal Preparedness
- Financial Preparedness
- Business Attractiveness
You will begin by taking an Exit Assessment.
We need to know where you are now.
Work with a Certified Exit Planning Advisor
A CEPA advisor can help you review your assessment and help create a map of where you want to go.
- When to exit
- How much do you need
- To whom do you want to sell
Business Attractiveness
How attractive is your business?
You may think it is great, but what does an outside buyer see?
- Financials
- Processes
- Management Team
- Recurring revenue streams
- A lack of owner centricity
Would the value of your business be in jeopardy for you or your family if you became a victim of the 5 D's?
- Death
- Divorce
- Disability/Incapacity
- Disaster
- Disagreement
A lifetime of hard work and investment can be jeopardized, leaving the other owners and the deceased’s family in the difficult position of sorting things out. A properly structured and funded Buy-Sell agreement permits an orderly transfer of the business.