When we talk about planning for the future, we often talk creating a plan. The idea of creating something as big as a plan for the future can imply a ton of from-scratch work (as is often the case), which can cause you to want to put that ton of work off to another day.
Read More »August 30, 2019
If you're like many business owners, your business plays a large role in supporting your family's lifestyle. As you plan for your business' future, you may run into questions about how to treat family members fairly in your plans.
Read More »August 2, 2019
Many business owners aren't exactly sure what their businesses are worth. More commonly, many business owners overestimate the value of their businesses, based on rules of thumb, comparing what outwardly similar businesses have sold for, or simple gut feeling.
Read More »March 15, 2019
When thinking about business planning, one aspect you may be tempted to overlook is the contributions of your key employees. Key employees are the lifeblood of well-run businesses, and they play an important role when owners begin to plan for their businesses' futures.
Read More »February 15, 2019
Planning for major events can sometimes cause a sense of dread. Whether it's planning a honeymoon, a long family trip, or a business exit, it's easy to say, "I'll do it later, when I'm less busy."
Read More »December 3, 2018
Exit Planning can be complex. Between setting your exit goals and transferring your business, you'll attempt to build business value, find an appropriate successor or buyer, navigate perplexing tax implications, and keep your key employees onboard.
Read More »August 2, 2018
Planning a business exit can seem like a lot of work at first. From building business value to developing capable successors to figuring out exactly what you want to do with your life after you leave, Exit Planning might look like too much work for one person to do.
Read More »June 13, 2018
If you're considering transferring your business ownership to family, you might be tempted to put your family's wants over your own goals. While this altruism may be admirable, it can also cause more problems than it solves. Consider the case of Darnell Orie.
Read More »May 22, 2018
After building a successful business, many business owners decide that they want to transfer their ownership to their children. Too often, those owners assume that a transfer to children will go smoothly and simply, requiring little more than informing their kids of the date they'll be taking the reins.
Read More »May 22, 2018
For business owners, the idea of exiting their businesses, which for many owners define their professional lives, can seem like a gigantic undertaking. They ask themselves, "How can I possibly do all of this? Where can I go for help, and what do I need to know?"
Read More »March 6, 2018
When we ask business owners about the possibility of installing an employee incentive plan, we often hear many different responses. May I suggest that these two motives are not nearly self-serving enough?
Read More »March 1, 2018
As owners approach their business exits, one topic that's often overlooked is unexpected death or permanent incapacitation. One reason owners gloss over this topic is because it injects an uncontrollable element into a controlled process.
Read More »November 21, 2017
A fundamental aspect of a successful business exit is assuring that your business has enough value to allow you to exit with financial security. This, coupled with wisely invested non-business assets, gives you the best chance to pursue the Exit Path you want on the timeline you want.
Read More »September 20, 2017
Cash flow is one of the most important factors in a business exit. Today, we look at why securing a professional estimate of your company's cash flow is crucial to the success of your Exit Plan.
Read More »August 31, 2017
The ideal Exit Plan (one that provides the business exit you desire) includes a strategy to help you preserve your hard-earned wealth from unnecessary taxation when it is transferred to your family.
Read More »July 11, 2017
For many owners, the answer to one question determines whether they can leave their companies: "How much money will I get when I sell?" This question is critical and answering it is Step Two of The Seven Step Exit Planning Process™.
Read More »June 29, 2017
As the leader in Exit Planning, BEI sets industry standards with an established, systematized process with a host of tools and services including plan-implementation software along with continuing and advanced education of the changing planning landscape.
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