100% of business owners will stop being business owners at some point whether they have planned for that day or not.
Generally speaking, a business owner's company is the largest financial asset that the owner has. More often than not the business owner is relying on the sale of the company to fund his or her retirement, With proper planning, the owner can successfully transfer or sell the business to the chosen successor, within the owner's desired time frame and for the money the owner wants or needs to provide a financially secure post-business lifestyle.
At LA Business Pros, we utilize the proven Seven Step Exit Planning Process™ developed by Business Enterprise Institute, Inc. to help business owners maximize their business value and exit the business on their terms and conditions.
Over the past ten years, we have worked with hundreds of business owners that wanted to sell their businesses. From that experience, we know that a successful exit requires that the business owner establish three key exit objectives before moving forward towards the business exit.
- How much cash do you need when you exit to support the lifestyle you desire?
- When do you want to leave the company?
- To whom do you want to sell or transfer the company?
If you are contemplating transferring or selling your business within the next 3 to 10 years, now is the time to begin your exit planning process. The Seven Step Exit Planning Process™ will help you to:
- Identify your exit objectives
- Quantify the gap, if any, between your business' current value and the value needed to align with your objectives
- Assess the Value Drivers that exist in your business as well as those that are missing, and take action to build and protect the business value.
- Determine the optimal transfer structure based on your desire to transfer the business to your children, key employees, a competitor, a third party, etc.
- Implement a series of recommendations that will allow you to sell the business when and to whom you want, for the money you want or need.
Every business owner's situation is unique. If you have questions or would like to discuss your specific situation, please give us a call at 818-781-0082 or Contact Us Today!