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Business Exit Plannng

Why You Need to Know the Value of Your Business Today

In today’s economy, no one wants to spend money on something they don’t need today. So why do you need an estimate of your company’s value when you don’t expect to leave for several or many years? You don’t — if you fall into one of two groups: Owners who are sure that their business … Continue reading »

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First Things First: Prioritize Your Objectives

“You’ve got to be very careful if you don’t know where you’re going, because you might not get there.” — Yogi Berra It is not always easy to interpret Yogi. In this case, perhaps he is advising you to figure out just where you are headed in your business. As you near the time when … Continue reading »

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Indecision: The WRONG Decision

“I haven’t decided what I ultimately want to do with my business, or when I want to exit, or how much money I’ll need, or whom to sell to, so how can I plan my exit? Besides, I don’t want to exit right now.” If you’ve said this, or thought it, you are not alone. … Continue reading »

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Getting Started in the Exit Planning Process

Nora Chapman’s story was typical of most business owners who have made the tough decision to leave their companies. At age 54, she was confident in finding a meaningful second act and was ready to leave her 25-employee advertising business. Nora was thinking of selling to one or two of her key employees and when … Continue reading »

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The Road to Irrelevance: Transferring Your Responsibilities to Management

Longtime readers of this newsletter know that one of our favorite instructions to business owners is: Make Yourself Irrelevant! Newer readers may find that recommendation off-putting so let us explain. Unless your business can run without you, your business has little value to a prospective buyer. If making yourself irrelevant is the goal, how do you … Continue reading »

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Overview of Captive Insurance Companies

For the small business owner, captive insurance companies may provide several advantages in risk-management, income taxation, and generational wealth transfers. Background on Insurance Companies Insurance companies make money by pooling premiums in excess of underwriting costs and investing them for the company’s profit. The principal belongs to the insured premium-payers (it is what is used … Continue reading »

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When to Sell your Business – Merger and Acquisition Market

You have decided to sell your business to a third-party, but aren’t sure when the right time to sell is, or if it really makes a difference. The merger and acquisition market can dramatically affect the price you receive for your business. The difference between selling at a low point verses a high point in … Continue reading »

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Maximizing Business Sale Value With Charitable Strategies

The Basic Sale Of The Business It is difficult to imagine that one might end up with more money by giving something away.  But recall the saying: you can’t receive if your hands are full.  Indeed there are many strategies in business exit planning and estate planning that leave a family with more money when … Continue reading »

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Your Buy-Sell Might Be Great If You Die, But What Happens If You Live?

  Few owners (or their advisors) give much thought or analysis to the likelihood of a lifetime transfer. Instead they focus all of their attention on dealing with the least likely event—an owner’s death. Yet, in our experience, lifetime transfers occur much more frequently, and when they do can cause huge problems. Typically, owners create … Continue reading »

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Lifetime Buyout of a Co-Owner

When co-owners are united in striving toward common business goals such as growing revenue, building business value and increasing cash flow, the business dynamics can be wonderfully positive and strong. These owners move together to reach common goals. Contrast that bright picture with what can happen when, suddenly perhaps, the goals of the owners diverge. … Continue reading »

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