Savings and Investing are the foundations of a strong financial future for every individual. You can place a good foundation effectively with the Financial Planning exercise. But many of us find it difficult to put this into practice and are therefore faced with numerous difficulties in achieving financial goals. Most of us find it hard to understand the variety of financial products available in the market. Thus are unable to take informed decisions. This results in delaying or putting of the financial decision which can lead to unfulfilled goals and hurdles.
This presentation helps in understanding the basics of Financial Planning.
Presentation summarizing the stages of owning a business and how to properly navigate from the initial stage of maximizing revenue to finally exiting the business with confidence and security.
netwealth educational webinar - Better client outcomes and conversations thro...netwealthInvest
During a netwealth educational webinar on August 11 2016, Rainmaker Group's Director of Research and Compliance, Alex Dunnin shared key findings from their latest research on managed accounts and what it means for financial advisers.
Savings and Investing are the foundations of a strong financial future for every individual. You can place a good foundation effectively with the Financial Planning exercise. But many of us find it difficult to put this into practice and are therefore faced with numerous difficulties in achieving financial goals. Most of us find it hard to understand the variety of financial products available in the market. Thus are unable to take informed decisions. This results in delaying or putting of the financial decision which can lead to unfulfilled goals and hurdles.
This presentation helps in understanding the basics of Financial Planning.
Presentation summarizing the stages of owning a business and how to properly navigate from the initial stage of maximizing revenue to finally exiting the business with confidence and security.
netwealth educational webinar - Better client outcomes and conversations thro...netwealthInvest
During a netwealth educational webinar on August 11 2016, Rainmaker Group's Director of Research and Compliance, Alex Dunnin shared key findings from their latest research on managed accounts and what it means for financial advisers.
A Veterinarian's Guide To Future Financial Planning & Retirement, Part IIMcGaunnSchwadronCPA
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What's it like to work with The Independent Financial Group? Founding Principal Jim Lorenzen talks about how IFG may be different from other wealth management advisory firms.
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Business Succession and Exit planning - found out how to maximise the value of your business with our 21 step process, fund your retirement and make sure your business continues !
Recently published article on Employee Incentive plans - How to attract, retain and motivate employees - by Craig West, CEO & Founder of Succession Plus.
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With the current up-tick in the economy and the demographic realities of baby boomer business owner transitions, estate planners have a client base that may be seeking to monetize their investment in their closely held businesses. Many business owners immediately assume that means an outright sale. However, there are other liquidity options to consider.
This session, presented at the recent 2015 Heckerling Institute on Estate Planning, covered various liquidity options including dividend policy, partial sales to insiders, employee stock ownership plans, private equity investors, as well as third party sales.
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With the current up-tick in the economy and the demographic realities of baby boomer business owner transitions, estate planners have a client base that may be seeking to monetize their investment in their closely held businesses. Many business owners immediately assume that means an outright sale. However, there are other liquidity options to consider.
This session, presented at the recent 2015 Heckerling Institute on Estate Planning, covered various liquidity options including dividend policy, partial sales to insiders, employee stock ownership plans, private equity investors, as well as third party sales.
Financial Planning Process
Planning Horizon - divide decisions into short-run decisions (usually next 12 months) and long-run decisions (usually 2 – 5 years)
Aggregation - combine capital budgeting decisions into one big project
Assumptions and Scenarios
Make realistic assumptions about important variables
Run several scenarios where you vary the assumptions by reasonable amounts
Determine at least a worst case, normal case and best case scenario
We are a Health & Wellness Holding Company (HWHC) vertically integrating health and wellness Companies & Products from farm to market. Focused on Nutraceutical products at the core, we integrate growing of known crop varieties rich in extractable proteins, lipids, and fibers. We process them into various isolated and refined products which are blended and mixed into 100's of nutraceutical brands. All are sold and marketed through multiple channels globally.”
Stepping into a role which requires business finance knowledge? Here is a short guide offering advice, tools, and expertise that you will need to equip yourself with to be successful. Check out our Diploma in Business Finance for more.
Structuring for Succession - Who owns what?Craig West
What is Asset Protection?
Asset Protection is a means of using business practices and structures to create barriers between your assets and the risks faced by your business or yourself. It’s part of an insurance strategy to make sure that everything you build is protected.
Why would I need an asset protection strategy?
Who is at risk and what are we protecting ourselves against?
What are the sources of potential risk?
What is the most effective form of asset protection?
When is the right time to start thinking about an asset protection strategy?
Nicola Wealth Specialty Series: The Business Owner's Path to TransitionCharis Whitbourne
An interactive half-day workshop designed specifically for business owners, their business partners, and their close advisors. This workshop focuses on the challenges and solutions faced during the business transition; whether you are preparing to sell your company or pass it to the next generation.
Featuring a panel of seasoned experts, we review a real-world business transition scenario, providing valuable discussion and insight around the complexities of transitions.
Similar to Maximise the value of your business dec 2012 (20)
The latest survey that measures the succession readiness as well as the important areas that impact the growth, performance, governance and transition of Australian family businesses.
For many business owners, the major source of retirement funding is the sale of their business or assets owned by the business. Fortunately, there are a number of capital gains tax (CGT) concessions available to small business that reduce or even eliminate the capital gain on the disposal of certain assets. It is important to understand the concessions available and the eligibility requirements to ensure entitlements are maximised.
"Arranging a valuation is both easy and a great investment. It gives you peace of mind as well as a clear plan outlining what you should do to maximise your business now and in the long term."
With business valuation, business owners can identify and correct any gaps undermining their business value, be ready if opportunities arise, and gain confidence by knowing how saleable their business is right now.
One of the largest issues faced by Australian small and medium business owners is dealing with their Business Succession and Exit Planning.
Have a view of the slides to find out the latest research and the learn about the M3 Framework and the Psychology of Succession.
For many businesses, attracting, retaining, motivating and rewarding employees are key issues that can be the difference between success and failure. It is also a vital issue for any potential buyer (internal or external) and has a direct impact on business risk, and also value.
As part of our strategic advisory work with clients, we are able to offer a range of solutions to manage these issues and provide easy to implement solutions for business owners to encourage employees to think and act like business owners.
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This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
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involves recognizing relationships between elements of the marketing mix (e.g.,
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Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
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3. 51%
Of business owners plan to use their
business as their primary source of
funding retirement
43%
Aim for a lump sum and a third expect an
ongoing income stream
4. The average age of a family business
owner is 56 years.
61%
Would seriously consider selling if
approached.
6. Since 2008, almost half of
business owners over age 50
have delayed their retirements
due to the GFC.
7. If you turn 50 today, your life
expectancy is now 32 more years.
31%
of retired business owners do not
have an adequately funded retirement.
8. Why Business Succession
and Exit Planning?
55% of all business exits are
due to death, disability,
bankruptcy, receivership,
liquidation or simply closing
the doors.
9.
10. Covey says “ if you want to have
a successful enterprise, you clearly
define what you‟re trying to
accomplish…. the extent to which
you begin with the end in mind
often determines whether or not
you are able to create a
successful enterprise.”
11.
12. Australia‟s mid-range market of
companies, with revenues ranging from
$10 million to $250 million are actually the
biggest contributors to our economy .
27,000 businesses.
3.2 M full time jobs.
Generating 33 % of total revenue and
accounting for 1 in 5 dollars borrowed .
13. Business Survival Rates – 2008/09
TOTAL
Non-employing
Micro/Small
Mid-Range
Big Business
Total Number of Businesses
Exiting the Market: 319,867
14. Business Succession
and Exit Planning
Combining the
Business, Financial and
Personal goals of business
owners to design and
implement a strategic exit.
47. Secure Funding
• Many plans fall over at this point
• Age & Financial situation?
• Internal succession funding
• Equity Partner / Investor
48. Did you know that over 72% of Gen Y
want to own their own business…
but not on their own!
49. Ladder to Equity
1. Income
2. Incentive – commission
3. Profit Share - % profits
4. ESOP – Equity
5. Control / Management
50. Peak Performance Trust
A structure to allow
employees to think and act
like business owners by
matching the performance of
the business with their ability
to build equity.
51. Peak Performance Trust to fund:
• Profit share based on performance
• Profit used only to fund purchase of
business by same key employees
• Employee retention
• Improved performance and increased
value
56. August 2011 –
Archer accepts $1.2B for MYOB
The acquisitive private equity fund bought MYOB in February 2009
for about $500 million, and then boosted earnings by stripping out
costs, raising prices and aggressively growing its customer base.
The deal is understood to have been valued at
a multiple of 11.3 times EBITDA.
MYOB is used by more than 1 million SME’s in Australia and NZ.
57. Siri wasn’t made in Cupertino. It was
actually acquired in a deal rumoured to be
worth close to $200 million.
It only took only one phone call to
turn Siri's Dag Kittlaus's life around.
Before the call, he was the head of a
Silicon Valley start-up and
afterwards, he was a multimillionaire
working with Apple.
62. Offshore buyers
The total value of transactions increased 35% over the
previous year to US$736 billion.
8.8 * EBIT average
63. AUSTRALIAN
BUSINESS
PTY LTD
$500K Profit
EXIT
TRADE SALE
@ 2 x = $1 million
STRATEGIC SALE
@ 4 x = $2 million
SALE TO LISTED CO @
7 x = $3.5 million
To achieve a higher sale price, it‟s much
smarter to focus on HOW to sell and
WHO to sell to, rather than trying to
increase profit.
64. Net proceeds is the important $
CGT – small business concessions.
Structures – who owns assets – before and after
Other costs - legal, accounting, other fees.
74. Communication Strategy
• Implementation Success
• Shareholder / Key Management Communication
• Buyer Communication
• Staff Communication
• Client Communication
76. Client Case Study:
Real Estate
Real estate office in NSW
Combined commercial office and residential sales : Central Coast
3 owners
Not in a rush to exit
Business Value approx. $2.4 m
14 employees
77. Client Case Study:
Outcomes
• Implemented Peak Performance Trust
• Engaged and motivated 5 key staff with equity plan
• Reduced risk – staff retention
• Restructured
• Asset protection & risk management
• Tax and CGT advice
• Wealth outside business structure
• SMSF to hold appreciating assets
• Risk minimization
• Insured for unplanned events
78. Recent Typical Project:
Insurance Brokers
• 5 month time frame
• 3 existing partners, one potential, two possible
• 5 year plan to sell down
• Accelerate sale by partial sale to VC / Private Equity
• 18 months of ongoing coaching/consulting
79. Outcomes
• Pre-documented sales programmed over 8 years
• Maximum Equity Value for outgoing shareholders
• Motivated Staff – with a predetermined program to transition
- Ladder to equity
• Recruitment / retention tool
• Accelerated thru initial sale to Austbrokers
80. Client Case Study:
Manufacturing
C-Mac GM Steve Grylak, with the national
award for best ESOP for SME’s /
Succession at the Employee Ownership
Conference and awards dinner last Thursday
10th May. C-Mac has bucked the growing
national SME trend to wind up on owner
retirement (The Exit Generation Needs Help
– SMH 19 Sept.2011) with the introduction of
an employee owned share plan ( ESOP)
offered to all its employees. The engagement
of employees as owners has already seen an
18 % hike in productivity at the plant.
81. Client Case Study:
Clearwater Filter Systems
Sale of a family owned private company at 9.5 times earnings to JWI.
Key Factors:
• Listed company as buyer.
• Offshore buyer .
• Strategic sale – expansion from NZ to Australia.
• 5 year exit strategy.
82. Client Case Study:
Sydney Software Business
• 60 year old owners - focused on reducing involvement and gradual sale.
• Peak Performance Trust involving 8 key staff.
• GM now running business – “semi retired” owners.
• Business Value now over $6 Mil.
• All other assets separated and protected.
• “truly a good story of transitional management”
83. Strategic Advisory
At start of engagement ( August 2011 ):
• Heavily reliant on the three owners
• Owners frustrated at staff disengagement
• Unclear about the vision and future of the business
• Owners goals - semi-retire while continuing to grow the value of their business
• Owners personally exposed to potential liability
84. Strategic Advisory
Key Actions:
• Overall strategy & vision defined
• Improved people management & communication
• Ownership Thinking implemented – move towards a business of business
people
• Non-owner GM appointed to take the business to the next level and reduce
the reliance on owners
85. Strategic Advisory
Outcomes:
• Staff understand and are aligned with the vision and
• Management and staff are clearer about what‟s expected of them
• Staff are in the loop of what‟s going on in the business through monthly company-wide
information sessions
• The two owners who are closest to their planned retirement age have appointed and are
grooming their successors
• All employees have been educated in business ownership, are now receiving information
about the performance of the business and will soon have a self-funded incentive plan to
replace their „christmas bonus‟
• Less „me‟ focus and more „we‟ thinking in the culture: phasing out entitlement and bringing
staff on-board to a culture of purpose, visibility and accountability
• Employees are sharing the insomnia and stress of running the business
86. What Next?
Further information on our website:
www.successionplus.com.au
Complete feedback form to be added to our newsletter
Arrange a free 90 minute review
87. Craig West
1300 665 473
cwest@successionplus.com.au
Visit www.successionplus.com.au
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Editor's Notes
Most Are badly underprepared if and when approached they don’t have the right information ready or available they haven’t considered their tax position etc.
The first baby boomer turns 65 in 2011 and the birth rate continues to increase until 2028.
The baby-boom waves made much worse by the fact that the three years preceding the boom were the GFC and many people delayed retirement or selling their business or other assets
Improved medical science and healthier lifestyles et cetera have increased our life expectancy – this dramatically increases the amount we need to successfully fund retirement.
More than half of business exits in Australia are a failure of some sort
Steve covey’s second habit was begin with the end in mind – that means we should map every single business decision to our exit strategy and ensure that we are always moving closer to (rather than further away from) our exit strategy
Succession and exit planning for the average business owner can be a very complicated issue and without the right advice and a coordinated strategic approach the ability to extract maximum value from your business (for many the largest asset) may be compromised.
Succession plus is Australia’s leading business succession and exit planning advisory firm and we have designed a unique 21 step process to ensure business owners design the most viable strategy to extract maximum value from their business when they retire.
Use This graphical analysis to identify areas where improvements can be implemented and to ensure our financials remain on track going forward
All this analysis identifies areas of substantial risk within the business areas where the value of the business could be threatened or where our multiple will be lower because of the high risk inherent within the business.
Allows business owners to easily identify areas of over or underperformance and in conjunction with the financial and non-financial analysis allows us to focus our attention when working with clients to maximise value
The profit Invariably highlight areas where the business is underperforming and profit could be improved in this particular example we can see that they have almost exactly the correct number of people engaged to generate a $3 million turnover (fairly unusual normally) but that they overspent on overheads by proximally $408,000 and that if this was reduced to the industry average for high profit firms would represent a substantial increase in profit.
Most business owners don’t have this information at hand up to date or easily available and in any due diligence exercise this would represent a significant issue documents are often outdated for example employment agreements that went into 10 years ago when the employee first joined have never been updated and are now most likely illegal.
In valuing any business there are obviously several different methods however they all come back to a very simple formula return or profit and the risk satiated with generating net profit. The higher the risk the lower the valuation multiple this is true of businesses listed on the ASX and small privately held companies.
Protecting assets is generally about separating or quarantining risk (and any business contains various risks some more than others all have some level of risk involved and the assets we are trying to protect.For example many businesses are still structured as two dollars shelf company’s with mum and dad being the only shareholders and both operating as directors this is high risk in terms of asset protection inefficient in terms of taxation and it is often made worse when the two dollars shelf company acquires other assets for example the premises or factory the business operates from.
Most business owners are so caught up in the day to day they simply don’t devote enough time to looking strategically at what they actually want from their business.
There are varied exit options available to business owners as we move up into the right to become more complicated more expensive more risky and typically take longer though they do maximise value.
These are the preferred options actually used by business owners to exit.
Income versus equity unless you’re a soccer player for Manchester United your job has no equity value and therefore can’t be sold.Robert Kiyosaki believes J O B stands for just over broke
Solution – proactive and holistic adviceAsk your accountant – what is my business worth today, if I sold it how much CGT will have to pay – is there anything I can do to reduce the tax payable.Small business concessions have a $6 million threshold so if you are approaching that level will consider very carefully whether it’s worth doing something before you exceed the threshold.
Smaller piece of a larger pieTo unlock value you must unlock equity.
Paperless Warehousing Sydney2 owners now working 3 days per week