Your Order Has Been Received!
Our office will process your book order request within 24-48 business hours and get it shipped out to you as soon as possible.
- Standard shipping is a 3-5 day delivery time once shipped.
- International shipping will vary depending on location.
If you are interested in other books on the topic of exit planning, visit our online bookstore.
Need something to do while you wait for your book?
While you wait for you copy of Walking to Destiny, get a head start and dive into four of our most relevant past webinars.
Four Key Metrics to Double your Business
Key Strategies for Three Types of Exit Planning Advisors
How to Start the Exit Planning Conversation using the State of Owner Readiness
Grow Your Circle of Influence
WANT MORE EXIT PLANNING EDUCATION?
Contact our business development team to create a custom professional development plan that will give you a competitive edge in the marketplace.
EPI MythBusters – I Don’t Need a CEPA because I am not Planning on Exiting My Business Soon…
You, like most business owners, probably do not like to talk about your future beyond your business. Maybe you think your business is your future and planning an exit strategy can seem like you don’t care about the success of the company in the short term. Exit planning is something that you will begin considering when you are ready to retire, so as not to have your employees think you are getting ready to leave the business sooner than they thought. In reality, not planning for your eventual exit from your business is more detrimental to your success and the success of your company after you depart. An important role for a CEPA is to showcase the steps every owner can take to plan for their future successfully.
Exit Strategy is simply good business strategy integrated with personal and financial goals and objectives. An owner does not need to be actively in the process of exiting their business to begin planning for their life after their exit. In planning for a business exit or transition, you also build value in your company, mitigate risks associated with your business, and makes the timing of your future exit irrelevant. According to Chris Snider in Walking to Destiny, “By focusing on your approach to building a business with characteristics that drive value and integrating your personal and financial objectives into it now, you will have lots of options to exit on your timeline and terms”. Successful businesses can sell at any time and working with a CEPA vastly increases the value of your business at the point of sale.
A CEPA is part of a diverse team of advisors that assist you, the business owner, during your exit planning process. CEPAs, along with a financial planner, attorney, accountant, and potentially your spouse or family member, help coordinate business assets and determine your best exit option. It is nearly impossible for an unprepared owner to time the market correctly for a valuable sale. CEPA’s provide the resources to manage business value by using the Value Acceleration Methodology as well as a vast network of advisors in a variety of related fields.
There is no one “Right Time” to exit a business. But to be ready to exit your business at any time and receive the most capital from a potential buyer, you need to have a solidified exit plan in place. Find a CEPA near you and get planning for your future today!
EPI MythBusters – You Can Solve Issues in Your Business During the Sale Process
Over the years, it is common for your businesses to develop issues. Whether the issue seriously impedes on your business or is just a small nuisance, they can often get pushed to the side to be dealt with later. During the sale process these issues have a negative impact on the value of your business or ultimately, will kill the sale all together.
Big red flags in your business can scare buyers away and ultimately become ‘deal killers.’ Because business owners can become blinded by what they believe the value of their business is, they can overlook these deal killers until it comes time to sell their business and is already too late. According to Walking to Destiny, “By simply removing risk from your personal situation, your personal finances, and your business, you increase value. Remember, any risk decreases value.” Risk and underlying issues in your business have a direct correlation to the overall value.
The truth is, buyers do not want to buy problems, they want to buy the solutions to problems. According to Entreprenuer, “Just like a home, a business must have a strong foundation to survive. Standard operating procedures, policies, and the right employees are only a few to name.” When going through the due diligence process, buyers and their teams will actively be looking for any skeletons in the closet or warts on your business that you as the owner may be blinded to.
So, as an owner, how can you go about solving these issues? It starts with talking to your advisors about the Value Acceleration Methodology and derisking your business before you even begin to think about exiting your business. A CEPA provides an impartial perspective on your business and help you solve ‘deal killers’ proactively.
It can be hard to objectively see the imperfections your business may have and know how to solve them, but waiting until it is time to sell is the wrong solution. Make sure you maximize your exit options by getting the skeletons out of your closet.
