Preparing the Business
A well-designed exit plan requires clean, reliable business data. This information needs to be gathered years in advance to construct a comprehensive business evaluation that will lead to the marketability of the business. Velocity Business Advisors’ Profit Enhancement and Value Growth Services will create and execute a plan to put your business in the best position for the greatest return on your investment at the current state, and in future planning.
This preparation also establishes a professional contingency plan in case of unplanned business exits.
How much cash will I have to live my life and secure my legacy?
When formulating your exit plan, it is instrumental to think about the financial facets of the transition. Your financial resources are affected by the structure of a deal, the tax impact on the proceeds, and what obligations and exposures you retain after the deal is done. We work with you to pinpoint the financial goals after the exits, and then layer your plan to meet those goals.
It is important to acknowledge and incorporate the emotional complexities that come with exit planning. Similar to financially preparing for your life’s next chapter, there is a need for personally preparing as well. As an owner, your business is an extension on your pride and effort. For this reason, a well-established exit plan is necessary to protect your legacy. Know that when you are ready, or if something unforeseen happens prior to that, your business will be in a secured position to lead your family into the next chapter, and leave your legacy with the business.