Effective exit planning involves understanding your financial goals, preparing for potential challenges, and enhancing your business's value. By defining your "Freedom Point" and addressing the "Five Ds," you can navigate the complexities of the exit process.
Learning Objectives:
- Understand Exit, Succession and Continuity Planning and how they fit together
- How much is enough? What is your Freedom Point? How do you calculate this number? Too much is risking what you have and need, not enough is selling yourself short for the rest of time
- How do you deal with things that come up in your quest? How can you be prepared for the Five Ds?
- How attractive is your business when will you be ready to sell? What makes one company more valuable than another?
About the Presenter:
Hear from industry expert, Mark Hegstrom
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Event Details
Who Should Attend?
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Attorneys
You have close relationships with clients, and can benefit from being the first advisor to introduce the idea of exit planning.
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CPAs/Accountants
Owners participating in the State of Owner Readiness research continue to indicate that you are the No. 1 "Most Trusted Advisor." You are a natural fit to lead the exit planning team and deepen your relationship (and retention) of next generation owners.
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Wealth Managers
You’re a skilled relationship person. Being entangled into your clients’ professional lives matters as you build a strategy to manage their wealth upon them harvesting it from their business. Exit planning allows you to build a deeper relationship with your client, expands your COI network, while giving you an early seat at table well before the liquidity event.
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Financial Advisors
One of the critical ‘legs of the stool’ is personal financing planning. An owner must have a strong financial plan & contingency plan post-transition to enable them to thrive in the next act of the lives personally and financially. Exit planning brings this future mindset into the present. Exit is now.
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Valuation Analysts
Valuation is both a billable engagement AND an opportunity to provide owners some perspective on how to accelerate value drivers (and deal with value killers). Use exit planning to make that valuation into a longer term value acceleration engagement.
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Investment Bankers
Only 2 of every 10 businesses that come to market actually sell. Learn how exit planning can bring attractive AND ready business to your purview.
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Estate Planners
Exit planning is a natural fit for estate planners who want to operate more holistically with their owner clients.
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Strategic Consultants
One of the most critical roles in exit planning is building transferable value. Strategic consultants have the ability to expand options and drive rapid business value that affect performance today.
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Insurance Professionals
Exit planning addresses the 5 D's. So do you. Approach the risk conversation differently with exit planning.
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Mergers & Acquisition Advisors
Proper exit planning causes less deals to fall through at the last minute. Connect with CEPAs to build your healthy deal flow network.
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Commercial Lenders
One of the best relationships a business owner makes is with their banker. How can you help your corporate clients think about the future and ensure financial continuity? Answer: exit planning.
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Family Business Advisors
More than 50% of lower middle market business owners would prefer to transition to the next generation. Help them succeed with exit planning strategies.
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Other Professional Advisors
Regardless of your unique specialty, there is seat at the exit planning table for you. Learn more at www.EarnCEPA.com.
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Private Business Owners
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Members of Family Business Boards
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Professional Advisors
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Business Consultants
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Other Business Professionals
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Business Owners
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Business Owners & Their Trusted Advisors
EXIT PLANNING IS GOOD BUSINESS STRATEGY
The Exit Planning Institute, provides Financial Advisors, Accountants, Consultants, and other advisors of business owners with the critical education to differentiate themselves and add value to their existing client relationships through a credential, conference, courses, and content. Download the CEPA brochure for more information.
ABOUT THE PRESENTER
I remember when my dad said to me back at the turn of the century, he asked if he should renew his lease? Dad was a dentist and had a great practice. By leaning forward and saying “open wide,” he began to suffer from bone degeneration in his neck and back that led to a sudden decline in his health. He was going to turn 62. We talked about his health and his age, and whether he should get started with his retirement, or should he extend his lease for five years. Without any real choice, he was forced into a decision that resulted in his selling the business, and that his days of saving for retirement suddenly came to a halt.
This is why I became an Exit Planning Advisor. I wanted to help business owners to create an exit plan so that they were ready even if something happened that was beyond their control. Exit planning is about contingency planning and succession planning.
It is also about the process of deciding when to exit, to whom to transfer or sell the business and knowing how much you need to net from the sale of your business to fund your retirement. This helps you to know how much you need gross from the sale and how much you should be saving. When we put all these together, this is your exit plan. This is what we do.
Business Owner Succession Strategies (BOSS) is an exit and succession planning firm. We help business owners that are 3-12 years out from exit to develop a customized plan. We assist the owner to develop a plan around the three legs of the exit planning stool: business owner financial plan, personal plan post-exit, and business attractiveness. Get started today with an assessment to see where you are now and where you need to be at exit; after all, every business owner will exit his or her business. That is why we think: exit planning is simply good business planning.