Tag Archives: ExitMap
The 3 Percent Problem in Advisory Work
The 3% Problem in Advisory Work Business owners represent only 3% of the population, yet many advisors approach them with the same frameworks they use for executives, other professionals, or retirees. That’s the first mistake. Owners are not simply high-income … Continue reading
Posted in Blog, ExitMap Articles
Tagged 3 percent problem in advisory work, Business Coaching, Business Transition, ExitMap, Trust-Based Relationships
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Layers of Disclosure
Layers of Disclosure For the owners of a privately held business, disclosure in a sale process is about layers of disclosure, not just a checklist exercise. It is a sequencing discipline. The timing, depth, and framing of information release can … Continue reading
Posted in Blog, ExitMap Articles
Tagged Advanced Disclosure, Business Coaching, business owners, Exit Plan, ExitMap, Layers of disclosure, Potential Liquidity, Trust-Based Relationships
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Exit Planning: If Not Now; When?
Exit Planning: If Not Now; When? When should an owner begin exit planning— if not now? The most common response advisors hear from owners is some variation of “Talk to me in five years.” Exit planning is cognitively demanding and … Continue reading
Posted in Blog, ExitMap Articles
Tagged CEPA, CExP, exit planning, ExitMap, Talk to me in 5 years, When to Exit Plan?, When to Plan a Business Exit, Who should plan their business exit?
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The Inexperienced Advisor – An Exit Planning Horror Story
This is a cautionary tale about an inexperienced advisor or, as they say in the movies, it’s “based on a true story.” The facts are real, although I can’t be certain of how the sequence of events would be regarded by the Internal Revenue Service. Continue reading
Posted in Blog, ExitMap Articles
Tagged Business Advisor, double taxation, Employee Stock, Entrepreneur, Exit Planning Horror Story, ExitMap, inexperienced business advisor, Selling a business, selling a company
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Decisions Made From Fear
For many business owners, the last time they overcame their fear of the unknown—or of a bad outcome—was the day they decided to go into business. They had little to lose, and their vision was fixed on the possible gains. Since then, it’s been a struggle just to hang on to what they have. Elon Musk was once asked, “What words of encouragement would you give to an entrepreneur?” He responded, “If you need words of encouragement, don’t become an entrepreneur.” Continue reading
Posted in Blog, ExitMap Articles
Tagged business decisions, Business Exit, decisions from fear, Decisions Made From Fear, exit planning, ExitMap, fear
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Missed Opportunities
Your client’s business is doing pretty well. He adds to his personal savings every month and is far more concerned about tax savings on his profits than making payroll. What are indicators that he may not be maximizing opportunities? Some indicators are obvious, while others are less so. One of the easiest to identify is stagnation. Businesses are like organisms—they either grow or die. Flat or declining sales are inherently unhealthy, as they limit opportunities for top employees. Additionally, customers may “age out” of current offerings and become tempted by competitors’ new, innovative solutions. What is the company’s growth rate compared to the market or industry? If everyone else is growing, standing still is falling behind.
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Posted in Blog, ExitMap Articles
Tagged Business Advisor, Business Technology, CEPA, CExP, ExitMap, Human Resources, missed business opportunities, Technology External and Internal
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What is “Holistic” Planning?
Financial planners use the term “holistic planning” frequently. It’s meant to indicate that they consider the client’s short- and long-term life goals and the future they visualize. According to Fidelity Investments, holistic wealth planning is continuous and considers two dozen aspects of client wealth objectives. Continue reading
Posted in Blog, ExitMap Articles
Tagged Business Advisor, Business Owner, CEPA, exit planning, ExitMap, holistic planning
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Addressing the Value Gap – Truth in Pricing
Addressing the value gap and truth in pricing are common issues when discussing the sale of a business. The selling price of their company is a point of pride for any owner. When they are willing to share the price they were paid, they usually include everything listed in the purchase agreement. While there is nothing inherently dishonest about that, it’s often not exactly the truth either. Continue reading
Posted in Blog, ExitMap Articles
Tagged Business Advisory, Business Transition, ExitMap, Life After Business", Liquidity Planning
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Addressing the Value Gap – Living Expenses
What is a Value Gap?
The Value Gap is one of the most used phrases in exit planning. Simply stated, it’s the difference between what a business owner would realize if he or she sold the company today, and what they need to embark on a financially secure “next act” after business ownership. Continue reading
Posted in Blog, ExitMap Articles
Tagged Business Coaching, Business Transition, ExitMap, Living Expenses, Value Gap
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Who Gets the Office?
Who Gets the Office? One of the most sensitive questions in a family transfer is “Who gets the office?” Dad’s (or Mom’s) office is often perceived as the center of authority by employees and other family members. It’s where you got called on the carpet, where you were informed of promotions, or where you took on an insolvable problem. Continue reading
Posted in ExitMap Articles, Blog
Tagged Business Exit, ExitMap, Family Business Transfer, Who Gets the Office?
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