Prepare for Your Future Harvest
Have you thought about how you intend to exit your business? Do you have a written plan to guide how you will maximize return on your investment of time and money in your business?
Planning your eventual exit is just as important as the plans you made to start your business. Every entrepreneur needs to think about their eventual exit. After all, it will come one way or the other, on your terms or someone else’s terms. The late Stephen Covey said it best, “begin with the end in mind.”
Components of a Viable Exit Strategy
- Succession Planning: This calls for you to answer some challenging questions. When would you ideally like to sell? After 20 years? When you turn 60? And who would you ideally like to sell to? A family member? An outside interest? Once you establish a succession plan, be prepared to change and refine it as the industry, economy, and even your personal life dictate.
- Estate Planning: Take steps to minimize taxes now as well as at the time a sale will conceivably occur. If you intend to retire after selling, will you have enough money to maintain your lifestyle? The answer to that question will dictate when you will ideally sell.
- Value Maximization: How much money do you want to make when you sell your business? It is worth that today? If not, what needs to done to get you to that desired outcome?
Smart entrepreneurs manage their business with a sharp eye focused on the future.
Work With Us
At Tennessee Valley Group, Inc. we support your future success and that of your business via:
- Tax minimization strategies
- Value enhancement
- Smooth organizational transition
- “Life-after” planning
Getting Your Business Future Ready
Jim Cumbee and his team draw on years of experience working with business owners to address the following key exit planning areas:
- Establishing the current market value of your business with a comprehensive business valuation
- Helping you stabilize your business assets by managing risk
- Setting goals and objectives for your exit date
- Finding the right buyer for your company
- Planning for unforeseen events during the sales process
- Negotiating the sale to a successful close
- Putting your exit plan into action
One Size Does Not Fit All
When it comes to exit planning, we believe that only one point of view matters to you, your’s.
Every stage of your exit strategy is created with your input. Transaction value is maximized consistent with your goals. While we provide direct support and both operational and financial modeling, our strategy centers on your value drivers.
Experience suggests that business owners who sell their companies without an exit plan usually get less than maximum value. It’s even worse if the business is sold due to some unforeseen circumstance (death, disability, divorce, etc). A thoughtful exit plan that defines your wishes can be your best legacy.
If you are looking for a Nashville business broker to create an exit plan for your business, please fill out our contact form or call 615.390.9966 for a confidential consultation. Your harvest awaits!