Exit/Transition Planning

  In our last article about life after the sale we discussed identity. Even when business owners are comfortable with who they are, however, there is still the nuts and bolts issue of activity. A business owner spends 20, 30, or (not uncommonly with Boomers,) 40 years focused on running a business. Unless they’ve built a substantial…

As a long-time business consultant and value growth advisor to middle-market companies, I frequently met business owners who didn’t recognize the urgency to plan for an eventual business ownership transition.  Such business owners commonly find themselves catastrophically unprepared when the time comes to sell their business, costing them millions of dollars in lost value.  I…

Life after the sale is often both the most important and most neglected factor in exit planning. Although (according to two different surveys in 2013 and 2022,) 75% of owners report regrets or unhappiness a year after the transition, exit plans continue to be constructed primarily around financial targets. In the event you haven’t heard…

Planning an optimal business sale requires careful consideration and understanding of various sale options and structures, as well as a thorough understanding of the sales’s effect on the business owner’s personal financial planning. Many owners leave money on the table during a sale while they stay focused on growing their business or finding the right…

As a business owner, it’s important to start planning for your eventual exit from the company as early as you can. Whether you plan to sell the business, pass it down to family, or find new leadership, how well you onboard new managers and prepare your successors plays a key role in a smooth transition….

Since 2013 I’ve updated this piece about the underappreciated and forgotten boss of A Christmas Carol, Mr. Fezziwig. I hope that you enjoy it. Merry Christmas! Last week was the 180th anniversary of the publication of Charles Dickens’s A Christmas Carol (December 17, 1843). The immortal words of Ebenezer Scrooge are ingrained in the memory of the entire…

FocusCFO Area Presidents Michael Stier and Darren Cherry join Scott Snider of the Exit Planning Institute for this special episode of the Exit Is Now podcast. You already know that a Chief Financial Officer (CFO) is a key part of the senior management team, responsible for overseeing and managing the financial aspects of the business. What you may not know, is that…

One of the most common concerns I hear about retirement is the fear of being bored.  Given the weeks, months, and years ahead that need to be filled with something other than your job, it’s understandable.  To make matters worse, many of us know a relative or friend who was aimless and miserable in retirement….

Defining the role of a coach on your exit planning team doesn’t just happen. Like any other aspect of working with consultants, you need to set expectations upfront. Many advisors like to characterize themselves as the “quarterback” of a transition planning team. I’ve always objected to that. We regard the business owner as the quarterback…

Delegation and depth are critical when presenting your business as a buying opportunity. For many business owners, exit planning means getting the company ready for sale to a third party. There are a number of approaches to enhancing preparedness for a third-party sale. Assessing Readiness Some planning software products begin with a comprehensive survey of…

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  In our last article about life after the sale we discussed identity. Even when business owners are comfortable with who they are, however, there is still the nuts and bolts issue of activity. A business owner spends 20, 30, or (not uncommonly with Boomers,) 40 years focused on running a business. Unless they’ve built a substantial…

Work from anywhere has been a necessity, an epithet, an obstacle, and an opportunity over the last 3 years. To paraphrase Aristotle’s axiom about Nature (“Horror Vacui”), business abhors a vacuum. Where one occurs, it is quickly filled. Work from anywhere started as a COVID-induced necessity. During the lockdowns of 2020-2021 (and longer in some…

The Annual Government Contractor Awards celebrate Small Emerging Contractors Advisory Forum (SECAF) members and other government contracting organizations that have demonstrated a commitment to industry excellence. Award categories showcase companies of all sizes, plus key projects and outstanding executives. Your clients and exit prospects  in the GovCon industry can benefit from the exposure that comes…

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