Can you answer “Yes” to these 10 questions?
- Have you decided when you are going to exit your business?
- Do you know how long it will take to transition your business?
- Have you determined the amount of cash you desire?
- Do you know what your business is worth today?
- Do you know the key value drivers and how they impact the value of your business?
- Do you know to whom you want to transfer your business?
- Do you know the best way to sell your business, while maximizing your price, minimizing your taxes and limiting your liability?
- Do you know how to transfer your business to family, employees, or co-shareholders, while securing your financial position and limiting your tax exposure?
- Do you have a plan for your business if something unexpected happens to you?
- Have you taken care of the security of your loved ones, if you pass away or can no longer fulfill your position with the company?
