In 2023 I have decided to provide a series of articles on the many aspects involved in the execution process of Exit Planning for a business: from where to start to how it ends and all of the things an owner needs to do to prepare themselves and their business for successful exit. At the time of this writing, I have already prepared over thirty (30) articles. I invite you to follow me on the journey this year to see all of the things you must consider in building your business for a successful exit. I have decided to kick off this year with an Exit Planning Institute case study to highlight that Exit Planning is not a one size fits all process.
Selling a business can be a complex exercise. Understanding the owner's personal and financial goals from the sale are two of the most critical parts in determining what must be done in preparation for that sale. In understanding what you, as an owner, want from the business sale (freedom, lifestyle, philanthropy, family legacy and so on) will drive the decisions and actions to deliver the outcomes needed to fulfil those goals.
Exit Planning is a strategic planning process, but one which focuses on more than just the business. It integrates business outcomes with the personal goals of the owner, with the owner's desired, or necessary, financial outcomes, and the business strategic goals, to ensure ultimate success: a sale that ensures that all three goals (personal financial, personal legacy success, and business success) are achieved.
In the following case studies, you will see how the exit planning advisor and owner(s) achieved the goals, with each owner having a different goals and objectives for how they wanted to exit their company. ENJOY!
