Ten Questions with Which to Start Your Exit Planning

1. What is the date upon which you’d like to exit the business?

2. How much money do you need to get out of the business to meet your needs and plans?

3. Have you had serious discussions with your family about exit or succession?

4. Do you know how to build your business’s value to meet your exit needs?

5. Have you built your exit plan timeline and identified critical milestones and what it will take to meet them?

6. Have you consulted with estate planning/tax specialists about how to structure the exit for greatest tax efficiency?

7. Have you obtained third party opinions as to the approximate real market value of your business (not the Fair Market Value)?

8. Have you consulted with an investment banker about how to structure an exit for the maximum value and the minimum risk?

9. Do you have a succession plan in place to protect the value of your business in the event of an involuntary exit: Death, Divorce, Disability, and Departure (of key talent or customers)?

10. Do you have a plan for what you will do after you exit the business, which now takes so much of your time?

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