Our Business Succession and Exit Planning methodology has been developed over a decade, consisting of 21 steps. Our approach is designed to assist business owners in optimizing the value of their enterprise and accomplishing a successful exit.
To initiate the process, it is crucial to start with the end goal in mind, which includes determining the exit strategy, such as the desired selling timeframe, the required retirement funds, succession plan for business leadership, identifying potential strategic buyers, and planning for post-exit endeavors.
By considering these aspects, our comprehensive approach can ensure a smooth and rewarding exit from your business.
We understand that the exit process can be daunting and overwhelming for business owners. Therefore, our approach is meticulously crafted and refined to cater to the unique needs of each business. Our methodology emphasizes identifying, protecting, and maximizing the value of your business before extracting the value through a strategic sale.
Our team of associated advisors can guide you through each step of the process, ensuring that you are well-informed and confident in your decision-making.
Our goal is to provide you with a tailor-made solution that will result in the best possible outcome for your business, enabling you to accomplish a successful exit while maximizing its value.
With our Business Succession and Exit Planning methodology, you can be assured of a seamless and efficient exit process.
The five stages we use in our process are important milestones – all focused-on VALUE:
Identify Value – Assess your business’s current status by determining its actual value, sale feasibility, and identifying critical risk factors.
Protect Value – Protect your business assets and minimise risks by establishing contingency plans for unforeseeable events such as serious illnesses or accidents.
Maximize Value – Ensure that your business does not rely on you, and lock-in, retain and motivate your team. Establish a corporate governance structure that guides decision-making and strategy and set up a sales and marketing plan to generate leads and maximise your business’s financial model.
Extract Value – Determine the best way to sell your business by conducting buyer research instead of relying on broker-style advertising. Select a strategic buyer that will maximise the business’s value, manage the transaction, due diligence process, legal contracts, warranties and securities, as the terms of sale are as significant as the price.
Manage Value – After selling the business, hold assets in the correct entities for asset protection, tax minimisation, and long-term wealth management. Review your estate plan and ensure that the right people manage your affairs going forward. By following this comprehensive approach, you will achieve a successful exit strategy with maximum value, asset protection, and the best possible opportunity for your business to succeed after you exit.
With our methodology, business owners can be assured of a tailor-made solution that will result in the best possible outcome, enabling them to accomplish a successful exit while maximizing their business’s value.
Are you ready to implement the 21-step process for your small business?
We invite you to click here and get in touch with us today to schedule a free 30-minute call to discuss your exit options.
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ABOUT THE AUTHOR
Tim Fawcett CEPA, CAP, CMEA
EastWind Business Solutions Inc.
https://calendly.com/tim-fawcett/30min
Tim Fawcett, the founder and managing director of EastWind Business Solutions, Inc., a merger and acquisition advisory firm that specializes in strategic sales of SMEs with revenue between $2M-$100M+, has provided strategies to over 2000 baby boomer business owners in Canada and the USA, helping them accelerate value and prepare their businesses for sale and guiding them through best practices in exit planning.
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