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Exit Planning Process

Our 7-step process helps a business owner maximize their financial return, minimize their tax liability, plan for contingencies,
and successfully transfer their business.

Exit Planning

OVERVIEW

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1. Do you know your exact retirement goals and what it should take - in cash - to reach them?

Please rate how important this area is to your overall business outlook.

2. Do you know how much your business is worth today, in cash?

Please rate how important this area is to your overall business outlook.

3. Do you know the best way to maximize the income stream generated by your ownership interest?

Please rate how important this area is to your overall business outlook.

4. Do you know how to sell your business to a third party and pay the least possible taxes?

Please rate how important this area is to your overall business outlook.

5. Do you know how to transfer your business to family members, co-owners, or employees while paying the least possible taxes and enjoying maximum financial security?

Please rate how important this area is to your overall business outlook.

6. Do you have a continuity plan for your business if the unexpected happens to you?

Please rate how important this area is to your overall business outlook.

7. Does your family have financial contingency plans if the unexpected happens to you?

Please rate how important this area is to your overall business outlook.

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1 OF 7: IDENTIFY OWNER OBJECTIVES

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1:1. Have you identified your exit path and/or successor?

Please rate how important this area is to your overall business outlook.

1:2 Do you know how much money you may need on an annual basis, after you leave your business to live comfortably in your post-business life?

Please rate how important this area is to your overall business outlook.

1:3 Have you established the date (ex: Jan 15, 2025) you wish to stop working in and for your business?

Please rate how important this area is to your overall business outlook.

1:4 Have you quantified and prioritized your Exit Objectives and goals?

If you answered yes, please list your additional Exit Objectives and rank their importance (0-N/A, 1-Not Important, 2-Somewhat Important, 3-Important, 4-Very Important, 5-Crucial)

Please rate how important this area is to your overall business outlook.

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2 OF 7: IDENTIFY BUSINESS AND PERSONAL FINANCIAL RESOURCES

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2:1. Has your business been valued in the past year?

Please rate how important this area is to your overall business outlook.

2:2 Based on future cash flow, do you know how much your business is worth today?

Please rate how important this area is to your overall business outlook.

2:3 Do you know the projected cash flow your business will generate in the next 5 to 10 years?

Please rate how important this area is to your overall business outlook.

2:4 Do you know what value you want or need from your business in order to leave it on favorable terms?

Please rate how important this area is to your overall business outlook.

2:5 Is there a shortfall between the value you need from your business and it's current value, do you have a written plan to achieve the growth in value needed in order for your to leave your business in style?

Please rate how important this area is to your overall business outlook.

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3 OF 7: MAXIMIZING AND PROTECTING BUSINESS VALUE

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3:1 Do you have a key employee?

Please rate how important this area is to your overall business outlook.

3:2 Is your key employee incentive to increase the value of your company?

Please rate how important this area is to your overall business outlook.

3:3 Is your key employee "handcuffed" through vesting of performance incentives?

Please rate how important this area is to your overall business outlook.

3:4 Do you have an incentivized management team operating the business?

Please rate how important this area is to your overall business outlook.

3:5 Is there a plan in place to transition management responsibility that aligns with the timeline of your business exit?

Please rate how important this area is to your overall business outlook.

3:6 Have you done any Key Employee Insurance planning?

Please rate how important this area is to your overall business outlook.

3:7 Do you have a covenant not to compete in place?

Please rate how important this area is to your overall business outlook.

3:8 Have you separated business assets from business operations?

Please rate how important this area is to your overall business outlook.

3:9 Have you completed an employee compensation review and analysis?

Please rate how important this area is to your overall business outlook.

3:10 Is there a qualified retirement plan in place?

Please rate how important this area is to your overall business outlook.

3:11 Do you have an established and diverse customer base?

Please rate how important this area is to your overall business outlook.

3:12 Do you have a realistic growth strategy that aligns with your overall business and Exit Plan?

Please rate how important this area is to your overall business outlook.

3:13 Do you have efficient financial controls?

Please rate how important this area is to your overall business outlook.

3:14 Do you have a tax efficient business structure in place?

Please rate how important this area is to your overall business outlook.

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4 OF 7: OWNERSHIP TRANSFERS TO THIRD PARTIES

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4:1 Have you been approached by a third party to sell your business?

Please rate how important this area is to your overall business outlook.

4:2 In your best estimation, is your industry experiencing consolidation from large competitors?

Please rate how important this area is to your overall business outlook.

4:3 If you sold your business today, could you get all the money you want?

Please rate how important this area is to your overall business outlook.

4:4 Have you prepared your company for sale by completing a pre-sale due diligence?

Please rate how important this area is to your overall business outlook.

4:5 Have you reduced the company's debt in preparation for the sale?

Please rate how important this area is to your overall business outlook.

4:6 Have you conducted any pre-sale tax planning?

Please rate how important this area is to your overall business outlook.

4:7 Have you identified a list of potential buyers that would be suitable for your company?

Please rate how important this area is to your overall business outlook.

4:8 Do you have a sale bonus plan in place for your key employees?

Please rate how important this area is to your overall business outlook.

4:9 Have you conducted any pre-sale real-estate planning?

Please rate how important this area is to your overall business outlook.

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5 OF 7: OWNERSHIP TRANSFERS TO INSIDERS

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5:1 Do you know how to transfer your business to insiders (family, employees, or co-owners) while paying the least possible taxes and enjoying maximum financial security?

Please rate how important this area is to your overall business outlook.

5:2 Do you have family members active in the business?

Please rate how important this area is to your overall business outlook.

5:3 If they had money, would you sell your business to insiders?

Please rate how important this area is to your overall business outlook.

5:4 Is your company free of any family succession issues?

Please rate how important this area is to your overall business outlook.

5:5 Do you have an ownership skills development plan in place for your desired successor?

Please rate how important this area is to your overall business outlook.

5:6 Have you planned on any financing arrangements including bank loans, cash or carry-back notes?

Please rate how important this area is to your overall business outlook.

5:7 Are you planning on using a bonus or gift of ownership interest transition technique?

Please rate how important this area is to your overall business outlook.

5:8 Have you thought about using a Non-Qualified Deferred Compensation Plan for the new owners?

Please rate how important this area is to your overall business outlook.

5:9 Have you thought about implementing a Grantor Retained Annuity Trust (GRAT)?

Please rate how important this area is to your overall business outlook.

5:10 Have you thought about implementing a buy-back agreement for minority owners?

Please rate how important this area is to your overall business outlook.

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6 OF 7: BUSINESS CONTINUITY

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6:1 Do you have a plan for your business if the unexpected happens to you?

Please rate how important this area is to your overall business outlook.

6:2 Have you identified who can operate the business in your absence?

Please rate how important this area is to your overall business outlook.

6:3 Have you identified who can control the financials in your absence?

Please rate how important this area is to your overall business outlook.

6:4 Have you communicated a written business continuity plan to senior management?

Please rate how important this area is to your overall business outlook.

6:5 Do you have business continuity insurance in place?

Please rate how important this area is to your overall business outlook.

6:6 Do you have a stay bonus plan to keep key employees during the transition?

Please rate how important this area is to your overall business outlook.

6:7 Do you have a current buy-sell agreement in place?

Please rate how important this area is to your overall business outlook.

6:8 Have you established a salary continuation plan?

Please rate how important this area is to your overall business outlook.

6:9 Do you have plans for retaining key employees after you are no longer able to run your business (i.e. death, disability, etc.)?

Please rate how important this area is to your overall business outlook.

6:10 Do you have a plan for establishing financial independence of your company?

Please rate how important this area is to your overall business outlook.

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7 OF 7: PERSONAL WEALTH AND ESTATE PLANNING

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7:1 Have you taken any steps to protect your family's wealth?

Please rate how important this area is to your overall business outlook.

7:2 Have you thought about how your Exit Plan will affect your Estate Plan?

Please rate how important this area is to your overall business outlook.

7:3 Have you done any planning to ensure that your family receives full value of the company if you don't survive?

Please rate how important this area is to your overall business outlook.

7:4 Have you developed estate planning documentation that outlines your overall personal, financial and Exit Plan objectives?

Please rate how important this area is to your overall business outlook.

7:5 Do you have a plan to protect your personal assets?

Please rate how important this area is to your overall business outlook.

7:6 Do you have personal and family insurance in place?

Please rate how important this area is to your overall business outlook.

7:7 Do you have a plan in place to transfer specific non-business assets?

Please rate how important this area is to your overall business outlook.

7:8 Do you have a personal wealth management plan in place?

Please rate how important this area is to your overall business outlook.

7:9 Do you have a plan in place to allocate business cash flow after your death?

Please rate how important this area is to your overall business outlook.

7:10 Do you have a plan in place to transfer your business real estate after your death?

Please rate how important this area is to your overall business outlook.

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