ATTENTION BUSINESS OWNERS:
Do You Have An Exit Strategy?
Would You Like To Sell Your Business One Day?
How Much Is Your Business Worth and …
Will Someone Buy It?
For Business Owners who want to maximise the sale value of their
business, retire with more cash in the bank… and enjoy more
lifestyle choices… the time to act is now!
Business Succession Planning
Business Succession Planning in Melbourne
Business succession planning is important for all business types, but especially for the family business. When formulating succession plans for a family business, it is important to remember that there is a distinction between ownership and executive control.
Painful as it may be to admit, your own family members are not always the most appropriate people to assume executive control.
Family Business Succession Planning
If your purpose in building the business was to ensure that your family would always have a reasonable amount of wealth, then handing over executive control to an incompetent family member could rapidly lead to business collapse.
Therefore it is vital in family business succession planning to always ensure that executive control is passed to a competent person who can manage the business without destroying it. The actual shares in the business are a different story.
These can usually be transferred without remorse and will, if the rest of your business has been established appropriately, provide a continuing source of income for your family.
Of course if the family members have demonstrated competence in managing aspects of the business already, you should be able to feel confident in handing over the reins. You should be sure to consult the family members to make sure they actually want the responsibility that comes with running a business, however.
Small Business Succession Planning
When you have a small business that is not a family business, there are different considerations that will be active in your small business succession planning.
In this case, you’ll mainly wanting to be thinking about things like:
- Do you intend to derive a portion of your retirement income from the business?
- Do you want to retain any executive control?
- Do you want to remain the majority shareholder?
- Are you prepared to continue accepting liability on behalf of the business?
These are just a few of the many considerations that are very important in succession planning for small business owners.
As you can see, there is quite a lot of work involved, and this work should not be avoided because mistakes in succession planning can be very costly later on.
Business Succession Planner
The good news is you don’t have to take on this burden all by yourself. The Exit Strategy Group provides a service as a business succession planner in Melbourne.
Succession planning for Melbourne businesses are made easier with help from our expert advisors. We will work with you to assess the key points of your business exit strategy, your goals, and the state of your business as it currently stands.
Once a clear picture of your intentions is formalised, it is a simple process to develop a succession plan that will fit your needs.
The Exit Strategy Group can assist in working out how to calculate what your business is worth, how to value your business, business succession planning, how to sell a small business and transition planning.
In this breakthrough book, you will discover there’s more to a profitable
exit strategy than just selling your business…with answer to these and
many more myths believed by countless business owners :
Myth #1: I don’t need an exit strategy until I’m ready to sell my business
Myth #2: I can’t afford to dedicate the time involved with exit planning
Myth #3: The wealth of my business is defined by how much I earn
Myth #4: If I have a growth strategy, why do I need an exit strategy?
Kerry Boulton, CEO and Founder of The Exit Strategy Group and NEXUS Business
Coaching, is Australia’s most respected exit strategy advisor. With over 20 years in
business as an entrepreneur, transformative coach and consultant, sought-after
speaker and talented facilitator, Kerry wrote The Uncensored TRUTH About Exit
Strategies to help as many business owners as she can to monetise the wealth that’s lying in their businesses.
The Uncensored TRUTH About Exit Strategies details how to build a strong and
successful exit plan, which is an absolute must if you want to get full value from
any sale. Kerry exposes and debunks many myths and gives you practical advice. She
walks you through what most people don’t know – or refuse to believe – about the
process of planning their exit.
Kerry believes exit planning is a process, not a destination. She helps you overcome
challenges you’re likely to face as a business owner and most important, the steps to
ensure you find financial freedom and do not become just another statistic.
The Cold Hard Facts You NEED to Know If You Want To Sell Your Business Someday
81% of Australian business owners plan to retire in the next 10 years
53% of them have no exit strategy
22% will shut shop*
How To Increase The Value of Your Business By Up To 71%* In Just 24 Months …and Have the Biggest Pay Day of Your Life
*Based on actual client results to date
Are you ready for the huge wave of business sales looming on the horizon and a lot of potential competition? Buyers will be picking and choosing only the best. Email info@TheExitStrategyGroup.com.au and ask for your FREE Value Builder Report.
AND…when you order your FREE copy of my book, The Uncensored Truth About Exit Strategies” you’ll find out …
…there’s a lot more to your Exit Strategy
than a succession plan or just selling your business…
You’ve worked hard for years building your business. You know how much value you’ve created and it’s worth plenty to someone who can take it to the next level.
The question is – how do you even start thinking about your exit plan when you aren’t anywhere near ready to exit or sell your business?
The gap between the idea of selling – or creating any sort of succession plan – and actually getting the deal on the table on your terms and at the time you want – can be very wide and very deep.
The fact is…only 20% of business owners who say they plan to sell their business ever make it their ultimate pay day.
That’s a very sobering statistic. Will you be in the 20% who do?
Many business owners simply don’t know what they need to know to prepare for succession, transition of ownership and exit. Exit strategies are not just about making money, Business owners often have other goals such as establishing a legacy, ensuring the business remains in their family, or continuing to have a say in what happens in the business.
…No matter what exit strategy you choose – you can guarantee your best outcome by simply this: PLANNING IN ADVANCE. There are immediate benefits to getting started preparing your exit strategy. You don’t have to wait for the exit date before claiming more of your wealth!
Exit strategies are something every investor looks for… The questions are the same – no matter what the size of the business. How am I going to get my money out?And how much are you going to get as the owner?
Having an exit strategy worked out in advance helps ensure you like the answers to those questions and gives you some control over your business’s future.