Clients in and around Portsmouth, NH and the greater Seacoast often come to us for help planning their business exit or succession strategy from a company they have spent their lives building. Exit planning is personal. It’s also a complicated and lengthy process. Having an advisor to walk you through all the steps can really help achieve your desired outcome. Without an exit plan, people can get a little lost in the exit journey. Determining your exit plan or strategy early on will help protect the value of your business, set you up for a smooth transition of ownership, accomplish your goals personally, financially, and business-related, minimize your tax-burden, all while ensuring the growth of the business you’ve worked so hard to create, nurture, and grow. Each business exit plan is unique and is based on the type of business, your particular situation, and requirements.
It all starts with knowing your worth.
Of course, you want to sell your business for the best price, and an exit plan will help you do that. We start by understanding how much your company is currently worth based on fair market value. It’s important to get a professional valuation and we can help with the value creation process and then analyze your business valuation report to find out where your company is lacking. This information lets you find solutions and start to compensate for those areas. When your business valuation matches your exit goals, that’s when you can sell your business for the best price.
If you’re thinking about retiring from your business, we’d love to hear from you. Meanwhile, here are some things to think about.
What is your greatest challenge when you think about planning for the future?
Do you see your role in the business changing or evolving as time evolves?
What do you want to do after you leave your business?
So you have plans to pass along or sell your ownership interest?
What do you need from your business to achieve financial freedom?
Are there any obstacles you believe may affect your personal or business goals?
Learn more about Business Continuity & Exit Planning in Portsmouth.
Let’s talk about your options, schedule a call with Joe Guyton today.
