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There
is a structured process for exiting a business. First and foremost, you have to
decide what you want. This is outlined in our goals
area. Once you have decided what your goals are, your options
come into focus.
This
is usually the time to review your wealth
management plans. You are turning an illiquid asset (your business)
into tangible wealth that usually needs to be managed by a professional who can
deliver a credible wealth preservation strategy designed to meet your particular
goals - whether it's retirement, philanthropy, family transfers, etc.
The
first question we hear most from our prospective clients is, "What is my
company worth?" Our valuation
section is designed to help you understand how the answer to that question can
depend on a number of factors.
Once
we have determined your baseline value (what your company is worth today) and
what your desired value is (depending on your exit goals), we can begin to build
a strategy designed to maximize your outcome.
No
matter the strategy employed, there are some common processes that need to
occur. You will need all of your legal and corporate documentation reviewed by a
competent attorney. You need your financials reviewed by an outside CPA, and
usually those financials will need to be audited. A risk management review needs
to be done. Management processes and systems need to be reviewed.
When
your company is ready and your are prepared to begin the actual execution of an
exit, we will work with you to undertake a successful transaction.
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