Exit Planning: Preparing yourself and your business for transition

PREPARING YOURSELF AND YOUR BUSINESS

FOR TRANSITION

Kimberly DeasBusiness Transfer Specialist

Murphy Business and Financial Services

www.SellYourBusinessFlorida.com 1

My Story• Ran $16M Marketing Business• Burned Out• Equity was Negative• Walked away from Multi-Million Dollar

Business• Decided business owners deserved to know• GOAL: Educate you on business value and

transfer processwww.SellYourBusinessFlorida.com

Everyone EXITS their Business

Business Transfer Cycle

From Rob Slee, author Private Capital Markets

U.S. Ten Year Transfer Cycle

Deal Recession Prime Selling Time Uncertainty

1980199020002010 BUYBUY

1983199320032013 SELLSELL

1988199820082018

1990200020102020

Baby Boomer Bulge is Coming

Creating a Plan

• What do you want to achieve with your exit?– Continuation of business– Financial Security– Asset Diversification– Reward Key Employees– Orderly Transition to Family – Fast sale (forced out)

To Prepare:•Are you addicted to your business?•Is your business a job or an investment?•How involved are you with the day-to-day running of the business?•Do you know what you would do if you weren’t in business?•Are you ready to let go and let someone guide you through the transition?

• What % of your total net worth is tied up in your business?

• What is your “Value Gap?”– The difference between what you need to fund your

post exit/transition lifestyle and your current savings.

To Prepare: Meet with your financial planner NOW

Sell ZoneSell ZoneUnsellable ZONEUnsellable ZONE

To Prepare: - Review Checklist to Add Value-Get Valuation (ASAP)-Clean Up Books and Records

• How are you going to Exit?– Gift the business to family member– PEG Recapitalization– Sell the business

• Outside buyer / • Management / Employees (ESOP)

– Liquidate the assets – Take it with you to the grave– Win the lottery and just walk away from it all

Creating a Plan

It’s never too early to begin this type of

planning, but it could be too late.

Next Steps

Online Sellability Test (message me)and

Download our free report on “7 Critical Points Every Business Owner Must Know Before

Selling Their Business”

http://bit.ly/LxKnN8

Exit Planning: Preparing yourself and your business for transition

Business

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