At first thought, most business owners might consider Exit Planning as “the beginning of the end.” In fact, though, it is one of the most important and strategic efforts of the many plans an owner implements in the life of a successful business.
There are many resources available to help entrepreneurs get into business, but few to help you get out. And sooner or later, every business owner will exit his or her business.
CoEfficient Consulting is affiliated with Business Enterprise Institute Network of Exit Planning Professionals, which utilizes a proven proprietary SEVEN-STEP EXIT PLANNING PROCESS™ to guide you, the business owner, through the design and implementation of your comprehensive action plan.
Exit Planning involves answering "Yes" to seven questions:
- Do you know your exact retirement goals and what it will take—in cash—to reach them?
- Do you know how much your business is worth today, in cash?
- Do you know the best way to maximize the income stream generated by your ownership interest?
- Do you know how to sell your business to a third party and pay the least possible taxes?
- Do you know how to transfer your business to family members, co-owners, or employees while paying the least possible taxes and enjoying maximum financial security?
- Do you have a continuity plan for your business if the unexpected happens to you?
- Do you have a plan to secure financial independence for your family if the unexpected happens to you?
If you answered "No" to any of these questions, please contact me to schedule your Exit Planning assessment.