Go Out a Winner Rich Foster Ken Saddler Partners B2B CFO® May 5, 2009
B2B CFO®Rich Foster – partner since 2006Ken Saddler – partner since 2008Kevin Cattoor – partner in 2009
GOAL CLARITY1. Do you believe it’s important to plan for a successful exit from your business?2. Do you have a clear vision for your exit?3. Do you have a written plan with financial expectations for your exit?
Increased Sales – Finder Impact20151050 T1 T2 T3 T4 T5 T6 Sales (Millions)
How to get back to Finding1. Determine the percentage presently spent in Finding Activities2. Set a realistic goal for increasing time in Finding Activities3. Write down your Finding Activities a. Must increase sales b. Must increase market share c. Must bring in money You must be passionate about these4. Meet with Key Staff and ask for their help – create a list of their ideas and suggestions – you need a strong management team to keep you in Finding
Who’s on the Exit Team?• Attorney • Tax advisor / CPA• CFO / Business • Banker advisor• Business coach / TAB facilitator
Elements of a Successful Exit Plan1. Life insurance2. Retirement plan – Start plan-full horizontal diversification!3. Company valuation4. Transition plan5. Marketing plan6. Legal protection7. Sale? What type?8. Financial sale structure – flexibility will increase sales price9. Tax considerations10. Employees
Definition of a successful exit1. Integrated into business strategy2. Provide for financial transition3. Eliminate exit barriers4. Adapt to changing conditions5. Minimize tax consequencesDon’t just go where your company leads you, lead the company where you want it to go.