The document outlines a 7-step exit planning process to help business owners exit their business successfully and retire with peace of mind. It discusses identifying exit objectives, quantifying business value, maximizing business value, transferring ownership to third parties or insiders, business continuity planning, personal wealth and estate planning. Working with advisors throughout this structured process helps owners make informed decisions and achieve their financial goals from exiting their largest asset.
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Exit Planning For Business Owners
1. "Exit Your Business with a Plan in Hand and Retire with Peace of Mind" February 24, 2010 CenterPoint Business Advisors Michael F. Coyle and Jeffery Paquet
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14. The Concept of An Exit Planning Framework From The Endless Focused Work in Building a Business....
19. “ When a man does not know which harbor he is heading for, no wind is the right wind.” - Seneca Step One: Identify Exit Objectives
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24. “ Beauty is in the eye of the buyer.” Step Two: Quantify Business and Personal Financial Resources
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26. “ Making a silk purse from a sow’s ear.” Step Three: Maximize and Protect Business Value
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29. “ Making a mountain out of a molehill.” Step Four: Ownership Transfer to Third Parties
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33. “ Making a molehill out of a mountain.” Step Five: Ownership Transfer to Insiders
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35. “ Making sure the business continues when the owner doesn’t.” Step Six: Business Continuity Planning
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39. “ When the ‘slings and arrows’ of outrageous fortune befall you, fight back.” - William Shakespeare (Hamlet) Step Seven: Personal Wealth and Estate Planning
43. The vast majority of owners are unaware there is a specific planning and implementation process that can help ensure they achieve their objectives. Most business owners spend more time planning a family vacation than how to exit from their business. This is not due to a lack of desire or intelligence. It is simply because they don’t know how or where to begin.
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48. A must read reference guide for today’s Business Owner about Exit Planning
Notas do Editor
Jeff-
Jeff - Introduce examples of current engagements in MA and VT. Emphasize that each client and business will have a different set of needs.