Why Exit Does Not (and Should Not) Mean Retirement Many people assume that when the subject of “exit” comes up with a business owner, we are discussing the owner’s retirement. This is not always true, and assuming it is true creates problems for owners, their companies, and their families. Exit does not have to mean retirement. Separating exit and retirement (and approaching them differently) makes for better exit planning, a smoother transition for the company, and happier l

Ever Hear of ZBB? It Can Make You $$$ If you intend to exit by selling your company, either to an outside buyer (a competitor, private equity group, etc.) or an inside buyer (one or more employees), the price you receive at the sale will likely be closely tied to the company’s earnings. The higher the earnings, the higher the likely sale price. As we know, there are two potential ways to grow earnings — increase revenue and decrease expenses. Both methods can maximize earning

The Simple Little Org Chart Can Produce Big Value at Your Exit Few business tools are as overlooked and underappreciated as the organizational (“org”) chart. Likely, you have diagramed one for your company. We tend to pull them out at specific moments such as when we need to meet with a third party like a vendor, customer, lender, or new hire. If out of date, which they often are, we quickly update them. Then, after the meeting, the chart gets put away, forgotten until the ne

3 Financial Needs Business Owners Must Address to Exit Happily While everybody’s dollar amount is different, reaching financial freedom is practically a universally-held goal. To have a good chance of reaching this goal, it is not enough to merely calculate the target number you need at exit. Most owners have three distinct needs they must meet to attain and maintain a financially happy life at exit and beyond. Fail to address any of these needs, and you may not be able to ex