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Maximizing the Value of Your Business

There is a large group of baby boomer business owners that are reaching retirement and yet 78% of them have no formal transition team, 83% have no written transition plan and 49% have done no planning at all. Succession and exit plans ask and answer all the business, personal financial, legal and tax questions involved in transitioning a privately-owned business.

Succession and exit plans aren’t a single event – they are a process of maximizing the value of the business while the owner is still at the helm. Such plans are a way to exercise control over the future of the business and achieve financial freedom in the process. Create a business strategy with the end in mind. Step back and focus on what’s important and consider the following in accelerating the value of your business:

  1. Integrate best-in-class practices into daily operations;
  2. Obtain a current, accurate business valuation;
  3. Identify company values;
  4. Determine what investments are necessary for business improvements;
  5. Assess business risks.

It is difficult for most business owners to independently create and execute a transition strategy.  Trained advisors bridge the gap for the owner, helping them create a master plan to accelerate the value of their business.

Need help in developing an exit strategy? SST has a team of advisors that can help you achieve you goals while maximizing your current and future wealth. Contact Ron Salmon (rsalmon@sstcpa.com) or Rachel Alexander (ralexander@sstcpa.com) for more information.