Thinking about what comes next?
The crossroads are endless.
Business Exit Strategies
Which exiting method is right for my company: Employee buy-out, third-party, or ESOP?
Have I done a competitive analysis to know what my company is worth?
Are my accounting records and financial statements up-to-date and accurate?
Have I created a five-year history of my financial statements?
Have I assembled a team to sell my company (lawyer, accountant, insurance, valuation company)?
Value Gap 1.0
Have I reviewed all the major drivers of value in my company?
Have I received a current valuation?
Value Gap 2.0
Have I identified the value gap in my company and the dollar amount attributed to it?
After I have closed the value gap, what will my valuation be?
Have I identified potential buyers?
Am I ready for the buyer’s due diligence team?
Tax Strategies for Selling
Am I getting capital gains treatment or ordinary income rates?
What is my federal income tax rate going to be? What state tax rate am I going to incur?
Is my will up-to-date?
Have I considered transferring shares and business interests to family members or trusts?
Do I have enough money to retire and am I ready to exit my business?
What contingency plans do I have in place if needed?
How far do you want to go?
Thought starters to get the ball rolling