Exit Your Business in Style <ul><li>Paul E. Honeycutt and Ronald F. Smith of Honeycutt, Smith & Associates </li></ul>Honey...
Why Exit Planning? <ul><li>“ ...71% of small and mid-sized enterprise owners plan to exit their businesses within the next...
Business Owners  |  Exit Planning Basics <ul><li>Without exception, every owner leaves his or her company. Whether you do ...
Exit Planning is a customized process of setting goals and deciding how best to achieve them. <ul><li>Whether your success...
 
The Seven Step Exit Planning Process TM <ul><ul><li>Step 1 –   Identify Exit Objectives   </li></ul></ul>Step 2 –   Quanti...
Exit Planning helps business owners set, sort through, and pursue their exit objectives.   <ul><li>It enables owners to le...
The Value To You
<ul><li>By completing our Value Driver brochure we will assemble information about your goals and how you currently measur...
<ul><li>The value of your business will determine not only the quality of your life once you leave your company but how lo...
Exit Planning involves answering “Yes” to seven questions: <ul><li>1. Do you know your exact retirement goals and what it ...
<ul><li>80% of business owners sell their business to retire. </li></ul>
<ul><li>50-75% of a business owner’s Net Worth is typically in their business assets. </li></ul><ul><li>Business owners us...
<ul><li>We help our business owner clients plan for the single, most critically important financial event of their lives –...
FIVE STAR  Wealth Managers <ul><li>Financial advisors Paul Honeycutt and Ron Smith of Honeycutt, Smith & Associates have b...
<ul><li>Paul E. Honeycutt, CFP® Practitioner, and Ronald F. Smith, CLU, ChFC are Registered Representatives and Investment...
 
 
Honeycutt, Smith & Associates - Exit Planning
Honeycutt, Smith & Associates - Exit Planning
Honeycutt, Smith & Associates - Exit Planning
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Honeycutt, Smith & Associates - Exit Planning

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Honeycutt, Smith & Associates - Exit Planning

  1. 1. Exit Your Business in Style <ul><li>Paul E. Honeycutt and Ronald F. Smith of Honeycutt, Smith & Associates </li></ul>Honeycutt, Smith & Associates 4225 Executive Square Suite 955 La Jolla, CA 92037-9122 Phone San Diego: (858) 200-0900 Las Vegas: (702) 892-9911 Email [email_address] Website www.honeycuttsmith.com
  2. 2. Why Exit Planning? <ul><li>“ ...71% of small and mid-sized enterprise owners plan to exit their businesses within the next ten years, strongly highlighting the growing importance of enhancing business value. However, the challenge is that few organizations genuinely understand what actions they must take to achieve this goal...” </li></ul><ul><li>-Deloitte & Touche LLP </li></ul>
  3. 3. Business Owners | Exit Planning Basics <ul><li>Without exception, every owner leaves his or her company. Whether you do it in style depends on the specific exit planning actions you take before you leave. </li></ul><ul><li>If you see ownership change in your future, we can help you plan towards a successful business exit. </li></ul>
  4. 4. Exit Planning is a customized process of setting goals and deciding how best to achieve them. <ul><li>Whether your successor will be your children, a key employee or an outside buyer, Exit Planning strives to help you maximize your financial return and minimize your tax liability when you transfer your business. If you die or become disabled before you retire, Exit Planning will help the business survive your departure—enabling your family to receive its full value. </li></ul>
  5. 6. The Seven Step Exit Planning Process TM <ul><ul><li>Step 1 – Identify Exit Objectives </li></ul></ul>Step 2 – Quantify Business and Personal Financial Resources Step 3 – Maximize and Protect Business Value Step 4 – Ownership Transfer to Third Parties Step 5 – Ownership Transfer to Insiders Step 6 – Business Continuity Step 7 – Personal Wealth and Estate Planning
  6. 7. Exit Planning helps business owners set, sort through, and pursue their exit objectives. <ul><li>It enables owners to leave their companies when they want, to the successors they want, and with the amount of cash they need. </li></ul>
  7. 8. The Value To You
  8. 9. <ul><li>By completing our Value Driver brochure we will assemble information about your goals and how you currently measure and grow value. We’ll review your answers to determine: 1) if there is a gap between current business value and the value you will need to exit and 2) identify ways for you to close that gap. You will then have the tools you need to measure growth in value and to understand and determine what actions you can take to increase value. </li></ul>
  9. 10. <ul><li>The value of your business will determine not only the quality of your life once you leave your company but how long you will have to stay in the business before you can leave. </li></ul>
  10. 11. Exit Planning involves answering “Yes” to seven questions: <ul><li>1. Do you know your exact retirement goals and what it will take—in cash—to reach them? </li></ul><ul><li>2. Do you know how much your business is worth today, in cash? </li></ul><ul><li>3. Do you know the best way to maximize the income stream generated by your ownership interest? </li></ul><ul><li>4. Do you know how to sell your business to a third party and pay the least possible taxes? </li></ul><ul><li>5. Do you know how to transfer your business to family members, co-owners, or employees while paying the least possible taxes and enjoying maximum financial security? </li></ul><ul><li>6. Do you have a continuity plan for your business if the unexpected happens to you? </li></ul><ul><li>7. Do you have a plan to secure financial independence for your family if the unexpected happens to you? </li></ul>
  11. 12. <ul><li>80% of business owners sell their business to retire. </li></ul>
  12. 13. <ul><li>50-75% of a business owner’s Net Worth is typically in their business assets. </li></ul><ul><li>Business owners usually have one chance to transfer their largest asset. </li></ul>
  13. 14. <ul><li>We help our business owner clients plan for the single, most critically important financial event of their lives – the transition out of their business. </li></ul>
  14. 15. FIVE STAR Wealth Managers <ul><li>Financial advisors Paul Honeycutt and Ron Smith of Honeycutt, Smith & Associates have been named 2011 FIVE STAR Wealth Managers SM by San Diego Magazine. </li></ul><ul><li>San Diego Magazine partnered with Crescendo Business Services and surveyed over 68,000 high-net-worth households within the San Diego area to find wealth managers who scored the highest in overall client satisfaction. </li></ul>
  15. 16. <ul><li>Paul E. Honeycutt, CFP® Practitioner, and Ronald F. Smith, CLU, ChFC are Registered Representatives and Investment Adviser Representatives with/and offering securities and advisory services through Commonwealth Financial Network, member FINRA/SIPC, a Registered Investment Adviser, CA Insurance License No. 0728831, 0688599.  Financial Planning offered through H.S. Financial, Inc. in the States of CA and NV.  </li></ul><ul><li>Contact Us </li></ul><ul><li>Honeycutt, Smith & Associates 4225 Executive Square Suite 955 La Jolla, CA 92037-9122 Phone San Diego: (858) 200-0900 Las Vegas: (702) 892-9911 </li></ul><ul><li>Email Website </li></ul><ul><li>[email_address] www.honeycuttsmith.com </li></ul>

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