It’s Never Too Early to Think About Business Exit Planning
It’s never too early to think about ‘exit planning’.
You should have an idea of how you want to exit your business, and we've put together an ultimate guide to exit planning.
Know what you want and why
As a business owner, consider the impact of selling your business on your personal happiness and the different options you have for exiting your business.
You can sell your business to a stranger, family member, or existing management team. If you want to keep your business, you can keep it but let others do the work.
Preparing the business, and yourself, for the sale
When preparing for sale, you need to know what your business is worth. Different types of transactions take different lengths of time, have different costs associated with them, and offer different ways for the seller to realize their value.
We help business owners identify how valuable and saleable their business is, and provide recommendations on how to improve it.
What to consider when developing a business exit plan
A suitable succession plan
If you want to leave the business in good hands, you need to have a succession plan in place.
You need to have a plan and assign a timeline to it, and consider tax efficient management incentive schemes to help motivate management towards reaching your target value of your business.
Why your business needs a succession plan
How to prepare for post-exit life
The post-exit life includes emotional, practical, financial, relational, occupational, physical and bucket-list considerations. It may also include staying in touch with old colleagues (if desired), avoiding loneliness, avoiding withdrawal, and ensuring a sense of achievement for those who value it.
We are a financial advisory firm, wealth management firm, asset management firm based in South Barrington, Illinois and servicing the Chicago area offering retirement planning, investment consulting, financial planning, business valuation, ESOP consulting, estate planning and more.
Areas of practice: ESOP consulting, Financial solutions for business owners, Business exit strategies, Business succession planning, Maximizing business value, Investment strategies for blue collar industries, Tax planning for business owners, Risk management for businesses, Estate planning for business owners, Business asset protection, Retirement savings for business owners, Business owner financial advice, Business owner insurance planning, Financial security for blue collar entrepreneurs, Wealth management for business owners, Financial planning for blue collar businesses, Exit strategies for business owners, Succession planning for blue collar businesses, Retirement planning for business owners, Investment management for small business owners, Estate planning for business owners, Business valuation services, Tax planning for blue collar businesses, Risk management for business owners, Employee benefit plans for business owners, Wealth preservation for blue collar businesses, Business sale and transition planning, Legacy planning for business owners, Financial security for business owners, Customized wealth management solutions, Investment consulting, Financial planning services, Financial advisor, Estate planning, Insurance planning, Investment strategies, Financial solutions, Retirement strategies, Wealth preservation, Financial experts, Retirement advisors, Investment management, Financial guidance, Financial services, Comprehensive financial planning, Financial advisory, Wealth management, Retirement planning, Investment consulting, Financial planning, Financial services, Estate planning, Tax planning, Insurance services, Financial advice, Retirement strategies, Investment management, Financial solutions, Financial goals, financial planning services, wealth management for business owners, financial planning for business owners, exit planning for business owners, exit strategies for business owners, business exit planning, business exit strategies, investment strategies, financial advisor illinois, financial planning illinois
