Are you a business owner who:

  • Seeks to exit at some point in the not-so-distant future, typically several years from now?
  • Actively works in your company?
  • Cares about the legacy you leave behind?
  • Feels an obligation to people impacted by your exit: co-owners, key employees, valued customers?
  • Desires to reach financial freedom, but you have the majority of your net worth tied up in the business and its assets?
  • Wants advice and assistance?
  • Recognizes you have one shot at success?
  • Lacks time and experience to do this yourself?

Consider that you may want or need an exit plan.

If you answered “YES” to any of these questions, NOW is the time to start planning for your successful exit. Consider these seven questions and how you will address them.

  1. How will you exit? There are four ways to exit a company. You can sell to an outside buyer, which is the most common. You can pass to a family member. You can sell to insiders. Or you can simply liquidate your assets (our least favorite).
  2. When will you exit? The most common answer is “as soon as I can find a buyer.” However exit preparation for maximum value takes time. How long to build a solid management team? If a C Corporation, how long to migrate to an S Corp and reduce taxation?
  3. How much do you need? NAVIX’s Exit Magic Number calculation helps you determine that number. It’d be a shame to sell for less than you need, and have to go back to work.
  4. Where will it come from? Are you taking tax advantaged withdrawals from time to time, or would you prefer to get hit with a monster tax bill when you close the sale?
  5. What risks do you face prior to exit, and how will you mitigate those risks?
  6. What will you do after exit? You’d be surprised how many owners feel totally lost when they wake up Monday morning absent their long standing identity as a business owner.
  7. Finally, who is your exit planning team? We at NAVIX act as the architect of the exit coordinating your team of trusted advisors. Consider though, that the accountant that prepares your taxes may not have the experience and horsepower to handle M&A.

Answers to these and other questions can be found at the NAVIX website. Yes, you will be asked to provide an email address, but GUARANTEED no spam. Just lots of good information at no cost to you.