Exit Planning is a very broad term that you'll hear a lot more of in the coming years. The concept has been around for many years but recently gained momentum through Exit Planning Institute's CEPA program.
The goal of exit planning is to ensure your personal, financial, and business goals are aligned so all three are fulfilled when you're ready to make a change (retirement, sell your business, transfer to kids, etc.).
There's a few thousand advisors with the designation. Most play in the wealth advisory, legal, accounting, or business transaction space.
I'm what's often called a Value Advisor (among many other things). I focus on the following:
👉 Identifying your Personal Goals
👉 Ensuring your Financial Goals are in alignment
👉 Assessing your Business' Attractiveness to the market/buyers
👉 Assessing your Business' Readiness to sell
👉 Valuating your Business so it fulfills your 1st 2 goals when you do sell
I'm sort of like a quarterback for the process. I work with the owner, their family, the leadership team, and more to bring in the right advisors as needed to ensure a successful exit when the time is right.
If the current state of the business doesn't fulfill the goals, we get to work on the highest impact initiatives to increase the valuation in the fastest timeframe possible.
The timing depends on the 5 factors mentioned above. It could take 12 months (including time to sell) or it could take 2-3 years or longer.
There's a lot more to it but this is a highlight. If you'd like to learn more, feel free to reach out to me or other CEPA's you may encounter.
Rich Hall
Business Advisor | Exit Planning Advisor