What’s the Risk of Doing Nothing?

Lack of Planning Leaves Money on the Table

The biggest risk of not planning your exit strategy early enough is that you will not be properly prepared to take full advantage of the methods and strategies that are available to:

  • reduce taxes
  • improve the performance and value of your business to increase the net after tax proceeds of the sale
  • determine the true value of your business prior to the sale
  • position your business for sale to get the full value of the profit drivers of your business.

Without this knowledge, you run the risk of leaving money on the table.   Mistakes can be costly – hundreds of thousands of dollars or more.

You Only Get One Chance to Get It Right

For most business owners, this is a once in a lifetime event; you can’t afford to get this wrong!  For most owners, 90% of their personal wealth is tied up in their business.  Deciding how and when to exit a privately owned business is perhaps the single most important financial and personal decision in a business owner’s life.  Despite this fact, most owners spend more time planning their next vacation than planning for their eventual exit or developing a succession plan.

Convinced yet?  OK. Now, when should you actually start your exit planning to allow enough time to implement it in time to meet your goals?