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Your Business: How Will You Exit
The document discusses different exit strategies for business owners, including transferring the business to family or selling it. It provides statistics on the most common exit strategies business owners are considering and their typical success rates. The document also identifies some of the key roadblocks that can derail plans to transfer a business to family or sell it. It provides tips for overcoming these challenges, such as preparing early, communicating effectively, and running the business for growth and marketability to maximize its value upon exit.
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Your Business: How Will You Exit
- 1. YOUR BUSINESS: How WillYou Exit
- 2. ROCHELLE CLARKE CEO, BizONCEO,Succession Strength NUNZIO PRESTA Your Speakers!
- 3. Content! • Introduction • Business Transfer • Business Sale • KeyTakeaways • Call to Action • Q&A
- 4. 1. What really happensto businesses 2. What derails business owners’ plans to transfer to family or sell 3. How to give your company the best shot at survival What You Will Learn!
- 5. TRANSFER TO FAMILY DON’T KNOW SELL CLOSE POLL:What Exit Strategy Are You ! Considering For Your Business?!
- 6. 29% 25% 35% 11% Intent TRANSFER SELL DON’T KNOW CLOSE 30%! 25%! +100%! N/A! Success Rate1 Sources: 1. Intent:BMO Wealth Institute survey by ValidateIt Technologies Inc., July 2016. 2. Success Rate: www.OhioBusinessHelp.com/business-transition/. Transfer refers to transition between gen 1 and gen 2 Source: KPMG 2014 M&A Outlook Survey Report, Dec 2013 Transfer at no cost to family member(s)! Sell to family member(s)! 22%! 7%! Sources: BMO Wealth Institute survey by ValidateIt Technologies Inc., July 2016. BUSINESS EXIT STRATEGIES SELL TRANSFER 1Success rate of businesses intending to execute exit strategy
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- 9. What Is AFamily Business! “…a company where the voting majority is in the hands of the controlling family; including the founder(s) who intend to pass the business on to their descendants.” IFC Mom and Pop Conglomerate Start-up
- 10. Why Work InFamily Business! Financial security for the family! Personal challenge, satisfaction and rewards! Quality of life outside work ! Quality of life at work ! Family cohesiveness, support and loyalty!
- 12. Roadblocks to Succession! Problemswith Communication and Trust (60%)! Lack of Preparation of Next Generation ! (25%) ! Other (Poor tax/financial planning, legal advice) ! (15%)!
- 13. How To Overcome! PREPARATION COMMUNICATION 02 01 03EXECUTION ANTICIPATE >> PLAN >> FOLLOW-THROUGH!
- 15. Why Buy AnExisting Business! LESS RISK R.O.I. IMPACT
- 16. Why Sell AnExisting Business! RETIRENEW JOURNEY BUYER INTEREST
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- 18. How To MaximizeValue!
- 19. 1. Plan: Businessexit is a process, not an event. Prepare early for the outcome that you want. 2. Act: Run your business like a business and always ensure that you’re growing a sellable and marketable business. 3. Advise: Seek an advisor when necessary. Key Takeaways!
- 20. Call To Action! #SearchOnBizONor #SellOnBizON https://www.mybizon.com For Succession Communication and Preparation Needs www.successionstrength.com
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