The nicest thing about not planning is that failure comes as a complete surprise, rather than being preceded by a period of worry and depression.
- Sir John Henry James
As Steven Covey, author of the Seven Habits of Highly Effective People says, "Begin With the End in Mind!"
Exit Strategy Planning (ESP) gives you ESP! It sounds like something a business owner would do when they're ready to sell their business. So...
So, why do ESP if your NOT planning on selling?
- The Dismal D's! Unexpected things can happen! Death, Divorce, Disability, Disaster, Disputes, etc. Do you have a plan if something unexpected happens? ESP is something every business owner should consider, even when your business is new. Because every owner leaves his or her business - Voluntarily or Otherwise!
And, do these statements sound familiar?
- Gee, I'm not going to live forever. I'd sure like to get out of this someday and enjoy life.
- Hummm, all my wealth is tied up in this business! (Most business owners can relate to the fact that a majority of their families wealth is tied up in the business! As Enron demonstrated, this may NOT be prudent financial planning)!
- I've heard it's a buyers market for business sales with 4+ million "good" businesses coming on the market in the next few years! How do I distinguish my business from the rest?
- Oh oh, the situation has changed - energy prices, interest rates, tax rates, terrorism. Can I maintain the value of the business and thus my families wealth?
- If it weren't for my stupid partner, I would be meeting the company goals!
- Wow, revenue has doubled! How can I manage this? And, how can I fund this growth!
- I can't believe it! Less then 80% of the businesses listed for sale ever sell! What do I have to do to make sure my business sells?
- How can I sell to insiders/family and minimize the risk this involves? What are the alternatives?
- I want to sell to my family, but I don't want them at risk with all their family's wealth tied up in the business like it is for me! Is there a way to sell to them while still allowing for their prudent financial planning and diversification of their wealth?
When it is time to leave your business - voluntarily or not - every owner wants to receive the maximum amount of money while accomplish personal, financial, and estate planning goals. This takes Exit Strategy Planning!
Exit Strategy Planning is Just Good Business!
At SBAdenver, we firmly believe in ESP! We have to tell business owners "we can't help you" too many times! So, we have teamed up with another company to provide ESP seminars! Check out our seminars at Speaking & Siminars
7900 East Union Avenue, Suite 1100, Denver, CO 80237