"Exit Or Escape: Planning for Your Best (or Worst) Day in Business

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As financial planners, we see too many businesses that aren't prepared for the future.

To address this, we have released this presentation (and the accompanying research paper found at our website) to address some of the issues that can complicate planning for ownership succession in a small business

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  • Ladies and gentlemen, thank you again for coming tonight. Tonight I’ll be talking about the choice that all of us, as business owners, will have to make at some stage or another - do we wish to leave our business in an orderly exit, or via a chaotic escape?
    All of you will find on the discs in your packs a copy of this presentation, as well as the research paper we’ve written that covers it in a bit more detail.
    So tonight will be an overview of some of the issues that I’ve seen in this area, and it’ll be divided into four main parts - essentially the what, how, why and who of succession planning for your small business
  • Of course, tonight is not meant as financial advice in any form, so please don’t go ahead with any financial decisions based on what we’ve talked about today. As is always the case, get professional advice before taking any steps.
  • now, I have two questions for all of the business owners here tonight:
  • On a scale of one to ten, how important is your business to you?
  • On a scale of one to ten, how important is your business to you?
  • On a scale of one to ten, how important is your business to you?
  • On a scale of one to ten, how important is your business to you?
  • And, when the time comes for you to leave your business, would you rather leave it in a hurry, forced to by ill health or would you prefer to leave in a structured, predictable process that’s done on your terms?

    Because the reality is that as the owner of your own business, these options are both in your control. The choice is yours.
  • And, when the time comes for you to leave your business, would you rather leave it in a hurry, forced to by ill health or would you prefer to leave in a structured, predictable process that’s done on your terms?

    Because the reality is that as the owner of your own business, these options are both in your control. The choice is yours.
  • And, when the time comes for you to leave your business, would you rather leave it in a hurry, forced to by ill health or would you prefer to leave in a structured, predictable process that’s done on your terms?

    Because the reality is that as the owner of your own business, these options are both in your control. The choice is yours.
  • And, when the time comes for you to leave your business, would you rather leave it in a hurry, forced to by ill health or would you prefer to leave in a structured, predictable process that’s done on your terms?

    Because the reality is that as the owner of your own business, these options are both in your control. The choice is yours.
  • And what we’re talking about tonight is how we can make that decision, and what some of the issues we need to be aware of could be.

    Broadly speaking, this sort of business planning is known as Business Succession planning and it covers a range of different possibilities, arrangements and parties.

    But what is ‘succession’ planning?
  • I’ve taken this definition from our research paper, that you’ll find on our website or on your disc. Succession planning is many things and it’s normally simplified to ‘buy/sell agreements’ or ‘insurance arrangements’ or a ‘will for your business’. Again, it’s more complex than that. As professional advisers, we work with business owners to find out:
    - what their plans are for the business
    - who those plans might involve
    - how those plans might be funded
    - what are the risks, what are the opportunities
    - what are the ‘current and possible circumstances’ that can see
  • When we’re talking about people leaving their business - which they have often built from scratch and have a very strong attachment too, there are two broad groups of reasons - the voluntary reasons, like retirement or a seachange, and the involuntary reasons - like disability, death, dispute, divorce or a major, severe illness

    the good news is that we can prepare and plan to manage the consequences of each of these situations. But we need to start planning now.
  • When we’re talking about people leaving their business - which they have often built from scratch and have a very strong attachment too, there are two broad groups of reasons - the voluntary reasons, like retirement or a seachange, and the involuntary reasons - like disability, death, dispute, divorce or a major, severe illness

    the good news is that we can prepare and plan to manage the consequences of each of these situations. But we need to start planning now.
  • When we’re talking about people leaving their business - which they have often built from scratch and have a very strong attachment too, there are two broad groups of reasons - the voluntary reasons, like retirement or a seachange, and the involuntary reasons - like disability, death, dispute, divorce or a major, severe illness

    the good news is that we can prepare and plan to manage the consequences of each of these situations. But we need to start planning now.
  • When we’re talking about people leaving their business - which they have often built from scratch and have a very strong attachment too, there are two broad groups of reasons - the voluntary reasons, like retirement or a seachange, and the involuntary reasons - like disability, death, dispute, divorce or a major, severe illness

    the good news is that we can prepare and plan to manage the consequences of each of these situations. But we need to start planning now.
  • When we’re talking about people leaving their business - which they have often built from scratch and have a very strong attachment too, there are two broad groups of reasons - the voluntary reasons, like retirement or a seachange, and the involuntary reasons - like disability, death, dispute, divorce or a major, severe illness

    the good news is that we can prepare and plan to manage the consequences of each of these situations. But we need to start planning now.
  • When we’re talking about people leaving their business - which they have often built from scratch and have a very strong attachment too, there are two broad groups of reasons - the voluntary reasons, like retirement or a seachange, and the involuntary reasons - like disability, death, dispute, divorce or a major, severe illness

    the good news is that we can prepare and plan to manage the consequences of each of these situations. But we need to start planning now.
  • When we’re talking about people leaving their business - which they have often built from scratch and have a very strong attachment too, there are two broad groups of reasons - the voluntary reasons, like retirement or a seachange, and the involuntary reasons - like disability, death, dispute, divorce or a major, severe illness

    the good news is that we can prepare and plan to manage the consequences of each of these situations. But we need to start planning now.
  • When we’re talking about people leaving their business - which they have often built from scratch and have a very strong attachment too, there are two broad groups of reasons - the voluntary reasons, like retirement or a seachange, and the involuntary reasons - like disability, death, dispute, divorce or a major, severe illness

    the good news is that we can prepare and plan to manage the consequences of each of these situations. But we need to start planning now.
  • If you don’t have a strong Succession Plan in place, then you run the risk of being confronted with these issues - you won’t be in control of when you retire, the value of your business will plummet, the wealth you and your family have tied up in the business will also fall, and, far too many times we’ve seen this one, you may very well fall out with your business partner - a personal and professional minefield.

    But if you have a plan in place, and you’ve done the yards upfront, then you can look to reap the rewards that come with control, certainty and clarity. These all translate into maximum value for you, when YOU decide to exit the business.
  • If you don’t have a strong Succession Plan in place, then you run the risk of being confronted with these issues - you won’t be in control of when you retire, the value of your business will plummet, the wealth you and your family have tied up in the business will also fall, and, far too many times we’ve seen this one, you may very well fall out with your business partner - a personal and professional minefield.

    But if you have a plan in place, and you’ve done the yards upfront, then you can look to reap the rewards that come with control, certainty and clarity. These all translate into maximum value for you, when YOU decide to exit the business.
  • If you don’t have a strong Succession Plan in place, then you run the risk of being confronted with these issues - you won’t be in control of when you retire, the value of your business will plummet, the wealth you and your family have tied up in the business will also fall, and, far too many times we’ve seen this one, you may very well fall out with your business partner - a personal and professional minefield.

    But if you have a plan in place, and you’ve done the yards upfront, then you can look to reap the rewards that come with control, certainty and clarity. These all translate into maximum value for you, when YOU decide to exit the business.
  • If you don’t have a strong Succession Plan in place, then you run the risk of being confronted with these issues - you won’t be in control of when you retire, the value of your business will plummet, the wealth you and your family have tied up in the business will also fall, and, far too many times we’ve seen this one, you may very well fall out with your business partner - a personal and professional minefield.

    But if you have a plan in place, and you’ve done the yards upfront, then you can look to reap the rewards that come with control, certainty and clarity. These all translate into maximum value for you, when YOU decide to exit the business.
  • If you don’t have a strong Succession Plan in place, then you run the risk of being confronted with these issues - you won’t be in control of when you retire, the value of your business will plummet, the wealth you and your family have tied up in the business will also fall, and, far too many times we’ve seen this one, you may very well fall out with your business partner - a personal and professional minefield.

    But if you have a plan in place, and you’ve done the yards upfront, then you can look to reap the rewards that come with control, certainty and clarity. These all translate into maximum value for you, when YOU decide to exit the business.
  • If you don’t have a strong Succession Plan in place, then you run the risk of being confronted with these issues - you won’t be in control of when you retire, the value of your business will plummet, the wealth you and your family have tied up in the business will also fall, and, far too many times we’ve seen this one, you may very well fall out with your business partner - a personal and professional minefield.

    But if you have a plan in place, and you’ve done the yards upfront, then you can look to reap the rewards that come with control, certainty and clarity. These all translate into maximum value for you, when YOU decide to exit the business.
  • If you don’t have a strong Succession Plan in place, then you run the risk of being confronted with these issues - you won’t be in control of when you retire, the value of your business will plummet, the wealth you and your family have tied up in the business will also fall, and, far too many times we’ve seen this one, you may very well fall out with your business partner - a personal and professional minefield.

    But if you have a plan in place, and you’ve done the yards upfront, then you can look to reap the rewards that come with control, certainty and clarity. These all translate into maximum value for you, when YOU decide to exit the business.
  • If you don’t have a strong Succession Plan in place, then you run the risk of being confronted with these issues - you won’t be in control of when you retire, the value of your business will plummet, the wealth you and your family have tied up in the business will also fall, and, far too many times we’ve seen this one, you may very well fall out with your business partner - a personal and professional minefield.

    But if you have a plan in place, and you’ve done the yards upfront, then you can look to reap the rewards that come with control, certainty and clarity. These all translate into maximum value for you, when YOU decide to exit the business.
  • If you don’t have a strong Succession Plan in place, then you run the risk of being confronted with these issues - you won’t be in control of when you retire, the value of your business will plummet, the wealth you and your family have tied up in the business will also fall, and, far too many times we’ve seen this one, you may very well fall out with your business partner - a personal and professional minefield.

    But if you have a plan in place, and you’ve done the yards upfront, then you can look to reap the rewards that come with control, certainty and clarity. These all translate into maximum value for you, when YOU decide to exit the business.
  • If you don’t have a strong Succession Plan in place, then you run the risk of being confronted with these issues - you won’t be in control of when you retire, the value of your business will plummet, the wealth you and your family have tied up in the business will also fall, and, far too many times we’ve seen this one, you may very well fall out with your business partner - a personal and professional minefield.

    But if you have a plan in place, and you’ve done the yards upfront, then you can look to reap the rewards that come with control, certainty and clarity. These all translate into maximum value for you, when YOU decide to exit the business.
  • When it comes to succession planning, not enough Australian businesses have taken the plunge and put one in place. Part of this is because most business owners don’t know what a succession plan necessarily is and if they do, they sure as hell don’t have time to put one in place.
  • To help with this, at Tangram, we follow a clear five step process.
  • Step one - we encourage our clients to identify what they want to achieve. It’s not good us dictating to them what needs to be done - they’re the ones this will affect the most so we believe they need to drive the entire process. The biggest part of this is identifying their own goals.
    When do they want to retire? How do the different owners define success in the business? How do they value the business? What do they want to happen when one of them falls ill? What level of security are they looking for?
    Once our clients have taken this step, we move onto step two-
  • Step one - we encourage our clients to identify what they want to achieve. It’s not good us dictating to them what needs to be done - they’re the ones this will affect the most so we believe they need to drive the entire process. The biggest part of this is identifying their own goals.
    When do they want to retire? How do the different owners define success in the business? How do they value the business? What do they want to happen when one of them falls ill? What level of security are they looking for?
    Once our clients have taken this step, we move onto step two-
  • Identifying the contingencies.
    This is where we, as financial planners, or accountants, come in and play devils advocate. Mr Business Owner, let’s say that hypothetically your business partner is diagnosed with cancer tomorrow and cannot work for twelve months - what would you want to happen, and what do you think would actually happen?
    And we continue to work through these hypothetical situations. Say your business partner passed away suddenly, due a car accident. How comfortable would you be working with their spouse each and every day? Would you want their spouse involved in a business which they may not have any involvement in - ever?
    Say you wanted to retire by the end of the year - do you have a successor in mind? Do they know your plans? how will they pay for the business? Are you sure they will stay on?

    This step is about working through the variety of issues and problems that can come up, putting them on paper and making sure we all know what they are. Once we’ve done that, we can move onto step three -
  • Identifying the contingencies.
    This is where we, as financial planners, or accountants, come in and play devils advocate. Mr Business Owner, let’s say that hypothetically your business partner is diagnosed with cancer tomorrow and cannot work for twelve months - what would you want to happen, and what do you think would actually happen?
    And we continue to work through these hypothetical situations. Say your business partner passed away suddenly, due a car accident. How comfortable would you be working with their spouse each and every day? Would you want their spouse involved in a business which they may not have any involvement in - ever?
    Say you wanted to retire by the end of the year - do you have a successor in mind? Do they know your plans? how will they pay for the business? Are you sure they will stay on?

    This step is about working through the variety of issues and problems that can come up, putting them on paper and making sure we all know what they are. Once we’ve done that, we can move onto step three -
  • Protecting the Downside.

    Remember how we spoke about the voluntary, involuntary options we’re looking at? Well, each contingency we’ve uncovered in step two will have a downside. It might be the fact that we need to replace a key earning owner, or we might need the funds to buy out a partner when they pass away. It might be not communicating to a key staff member that you’d like them to take over the business one day. It may even be the unsuitability of certain staff for their pending responsibilities.

    Whatever it is, we need to protect it to make sure your business isn’t at threat. How do we do this?

    First step is putting together a shareholder exit agreement that details all of the planned exit options. We then need to draft a buy/sell agreement that will explain what happens when a certain trigger event will occur - death, disability, serious illness and so on. Finally, we need to make sure that the business and its owners have the funding to cover this downside risk.

    We normally use insurance to do this, but it can also involve debt, equity or gradual buyouts.

    This is where your professional advisers will get involved. As we show later in this presentation, you will need the assistance of your accountant, solicitor and financial adviser when constructing your business succession plan.

    But once we’ve protected your downside from the risks we’re all aware of, then we can move onto step four-
  • Protecting the Downside.

    Remember how we spoke about the voluntary, involuntary options we’re looking at? Well, each contingency we’ve uncovered in step two will have a downside. It might be the fact that we need to replace a key earning owner, or we might need the funds to buy out a partner when they pass away. It might be not communicating to a key staff member that you’d like them to take over the business one day. It may even be the unsuitability of certain staff for their pending responsibilities.

    Whatever it is, we need to protect it to make sure your business isn’t at threat. How do we do this?

    First step is putting together a shareholder exit agreement that details all of the planned exit options. We then need to draft a buy/sell agreement that will explain what happens when a certain trigger event will occur - death, disability, serious illness and so on. Finally, we need to make sure that the business and its owners have the funding to cover this downside risk.

    We normally use insurance to do this, but it can also involve debt, equity or gradual buyouts.

    This is where your professional advisers will get involved. As we show later in this presentation, you will need the assistance of your accountant, solicitor and financial adviser when constructing your business succession plan.

    But once we’ve protected your downside from the risks we’re all aware of, then we can move onto step four-
  • Growing the Upside.

    What we’ve found as we’ve worked in this area is that the previous three steps, and the process that is required to work through them, helps a business to grow - often exponentially.

    We think this is because all of the owners are now on the same page with the goals for the business, and they’re more aware of what they each need the business to do for them to reach their personal goals.

    Either way, it leads to them reviewing their business plan and working with the financial adviser and accountant to grow their business to even greater heights - secure in the knowledge that their bottom line is protected.
  • Growing the Upside.

    What we’ve found as we’ve worked in this area is that the previous three steps, and the process that is required to work through them, helps a business to grow - often exponentially.

    We think this is because all of the owners are now on the same page with the goals for the business, and they’re more aware of what they each need the business to do for them to reach their personal goals.

    Either way, it leads to them reviewing their business plan and working with the financial adviser and accountant to grow their business to even greater heights - secure in the knowledge that their bottom line is protected.
  • The final step is critically important - like all plans, you need to review your succession plan on a regular basis. We suggest annually, because this allows for the changes that might occur - changes in staff, partners and the business’ operating environment.
  • The final step is critically important - like all plans, you need to review your succession plan on a regular basis. We suggest annually, because this allows for the changes that might occur - changes in staff, partners and the business’ operating environment.
  • But why have a succession plan? Things will work out - we don’t need to have it all written down. We know how we want things to go.

    These are some of the things we hear when we start discussing succession planning. What we say in response is that there four possible outcomes when you have to leave your business.
  • This table shows what these four possibilities are. Across the top we distinguish the voluntary and involuntary exits. So retiring is a voluntary exit, but having a major illness would be an involuntary way of leaving a business.

    On the side, we then split your options between a planned exit, or an unplanned escape.

    In the event of a voluntary exit that you’ve planned for, we term this an Ideal outcome because you’re leaving on your own terms and because you’ve planned for it, you’ll have maximised the value you will get for your business. This, to my way of thinking, is the aim of a good succession plan - to increase the number of ‘Ideal’ outcomes possible.

    The next outcome is a planned, but involuntary exit. This is what we term those situations where you need to leave your business for reasons out of your control. Perhaps you’ve fallen ill, or need to care for a family member, or in the worst case, passed away. However, because you’ve taken the time to put in place a clear succession plan, we have an acceptable outcome because while you’re being forced to leave, you’re still getting fair value for your business.

    We also call a Voluntary Escape acceptable. In this case, you may decide to retire on a whim and move down to the country. While you haven’t planned for it, because it’s a voluntary exit you have the time and resources to find the best value for your business and optimise the terms you leave on. This, to us, is also an acceptable outcome.

    The final outcome is one that keeps most business owners up at night and it’s also the outcome that we spend most of our time preparing for - the Unplanned Involuntary Escape. The combination of these two factors - an involuntary event forcing you to leave (such as illness, disability or even death), without a plan in place - will lead to nothing short of the destruction of the majority of value in the business. The value of the business will fall, employees will leave, customers will depart, business partners will fall out and those plans we all have in the back of our mind will fall apart.

    When we talk about protecting the downside, this confluence of events is the worst-case scenario.
  • This table shows what these four possibilities are. Across the top we distinguish the voluntary and involuntary exits. So retiring is a voluntary exit, but having a major illness would be an involuntary way of leaving a business.

    On the side, we then split your options between a planned exit, or an unplanned escape.

    In the event of a voluntary exit that you’ve planned for, we term this an Ideal outcome because you’re leaving on your own terms and because you’ve planned for it, you’ll have maximised the value you will get for your business. This, to my way of thinking, is the aim of a good succession plan - to increase the number of ‘Ideal’ outcomes possible.

    The next outcome is a planned, but involuntary exit. This is what we term those situations where you need to leave your business for reasons out of your control. Perhaps you’ve fallen ill, or need to care for a family member, or in the worst case, passed away. However, because you’ve taken the time to put in place a clear succession plan, we have an acceptable outcome because while you’re being forced to leave, you’re still getting fair value for your business.

    We also call a Voluntary Escape acceptable. In this case, you may decide to retire on a whim and move down to the country. While you haven’t planned for it, because it’s a voluntary exit you have the time and resources to find the best value for your business and optimise the terms you leave on. This, to us, is also an acceptable outcome.

    The final outcome is one that keeps most business owners up at night and it’s also the outcome that we spend most of our time preparing for - the Unplanned Involuntary Escape. The combination of these two factors - an involuntary event forcing you to leave (such as illness, disability or even death), without a plan in place - will lead to nothing short of the destruction of the majority of value in the business. The value of the business will fall, employees will leave, customers will depart, business partners will fall out and those plans we all have in the back of our mind will fall apart.

    When we talk about protecting the downside, this confluence of events is the worst-case scenario.
  • This table shows what these four possibilities are. Across the top we distinguish the voluntary and involuntary exits. So retiring is a voluntary exit, but having a major illness would be an involuntary way of leaving a business.

    On the side, we then split your options between a planned exit, or an unplanned escape.

    In the event of a voluntary exit that you’ve planned for, we term this an Ideal outcome because you’re leaving on your own terms and because you’ve planned for it, you’ll have maximised the value you will get for your business. This, to my way of thinking, is the aim of a good succession plan - to increase the number of ‘Ideal’ outcomes possible.

    The next outcome is a planned, but involuntary exit. This is what we term those situations where you need to leave your business for reasons out of your control. Perhaps you’ve fallen ill, or need to care for a family member, or in the worst case, passed away. However, because you’ve taken the time to put in place a clear succession plan, we have an acceptable outcome because while you’re being forced to leave, you’re still getting fair value for your business.

    We also call a Voluntary Escape acceptable. In this case, you may decide to retire on a whim and move down to the country. While you haven’t planned for it, because it’s a voluntary exit you have the time and resources to find the best value for your business and optimise the terms you leave on. This, to us, is also an acceptable outcome.

    The final outcome is one that keeps most business owners up at night and it’s also the outcome that we spend most of our time preparing for - the Unplanned Involuntary Escape. The combination of these two factors - an involuntary event forcing you to leave (such as illness, disability or even death), without a plan in place - will lead to nothing short of the destruction of the majority of value in the business. The value of the business will fall, employees will leave, customers will depart, business partners will fall out and those plans we all have in the back of our mind will fall apart.

    When we talk about protecting the downside, this confluence of events is the worst-case scenario.
  • This table shows what these four possibilities are. Across the top we distinguish the voluntary and involuntary exits. So retiring is a voluntary exit, but having a major illness would be an involuntary way of leaving a business.

    On the side, we then split your options between a planned exit, or an unplanned escape.

    In the event of a voluntary exit that you’ve planned for, we term this an Ideal outcome because you’re leaving on your own terms and because you’ve planned for it, you’ll have maximised the value you will get for your business. This, to my way of thinking, is the aim of a good succession plan - to increase the number of ‘Ideal’ outcomes possible.

    The next outcome is a planned, but involuntary exit. This is what we term those situations where you need to leave your business for reasons out of your control. Perhaps you’ve fallen ill, or need to care for a family member, or in the worst case, passed away. However, because you’ve taken the time to put in place a clear succession plan, we have an acceptable outcome because while you’re being forced to leave, you’re still getting fair value for your business.

    We also call a Voluntary Escape acceptable. In this case, you may decide to retire on a whim and move down to the country. While you haven’t planned for it, because it’s a voluntary exit you have the time and resources to find the best value for your business and optimise the terms you leave on. This, to us, is also an acceptable outcome.

    The final outcome is one that keeps most business owners up at night and it’s also the outcome that we spend most of our time preparing for - the Unplanned Involuntary Escape. The combination of these two factors - an involuntary event forcing you to leave (such as illness, disability or even death), without a plan in place - will lead to nothing short of the destruction of the majority of value in the business. The value of the business will fall, employees will leave, customers will depart, business partners will fall out and those plans we all have in the back of our mind will fall apart.

    When we talk about protecting the downside, this confluence of events is the worst-case scenario.
  • The area of succession planning is a complex one and you will need the assistance of at least three advisers - your accountant, solicitor and financial adviser.

    One proviso though. Make sure that your advisers are all experienced in this area. The stakes are obviously quite high and getting it wrong can be so very costly. Of course, you will pay for this expertise. But the benefits of getting it right will, without a doubt, far exceed this upfront cost.
  • But how do the different advisers work together, and how do they actually help you and your business. <bring in first five items>
    It helps to consider your affairs separate from your business and your business partner.
    The three different advisers each occupy a different professional space, and have different responsibilities.

    Your accountant will most likely be your most important business adviser, assisting with the taxation side of the business, but they will also help to make sure that you’re on track for your growth targets and that everything is in good shape. They will probably also do the personal tax returns for you, your partner and your families.

    Your solicitor will probably not be as involved in the day-to-day operations of your business, but will assist you with the legal requirements that pop up regularly - lease reviews, supplier negotiations, even mergers and takeovers. They will probably also help you and your partner with your personal legal needs - perhaps conveyancing and estate planning.

    Finally, your financial adviser will assist you with your personal requirements - superannuation, investments and insurance. A Good Financial Planner will also be able to help you with your projections for the business, and the planning of where you’d like your business to get.
  • But how do the different advisers work together, and how do they actually help you and your business. <bring in first five items>
    It helps to consider your affairs separate from your business and your business partner.
    The three different advisers each occupy a different professional space, and have different responsibilities.

    Your accountant will most likely be your most important business adviser, assisting with the taxation side of the business, but they will also help to make sure that you’re on track for your growth targets and that everything is in good shape. They will probably also do the personal tax returns for you, your partner and your families.

    Your solicitor will probably not be as involved in the day-to-day operations of your business, but will assist you with the legal requirements that pop up regularly - lease reviews, supplier negotiations, even mergers and takeovers. They will probably also help you and your partner with your personal legal needs - perhaps conveyancing and estate planning.

    Finally, your financial adviser will assist you with your personal requirements - superannuation, investments and insurance. A Good Financial Planner will also be able to help you with your projections for the business, and the planning of where you’d like your business to get.
  • But how do the different advisers work together, and how do they actually help you and your business. <bring in first five items>
    It helps to consider your affairs separate from your business and your business partner.
    The three different advisers each occupy a different professional space, and have different responsibilities.

    Your accountant will most likely be your most important business adviser, assisting with the taxation side of the business, but they will also help to make sure that you’re on track for your growth targets and that everything is in good shape. They will probably also do the personal tax returns for you, your partner and your families.

    Your solicitor will probably not be as involved in the day-to-day operations of your business, but will assist you with the legal requirements that pop up regularly - lease reviews, supplier negotiations, even mergers and takeovers. They will probably also help you and your partner with your personal legal needs - perhaps conveyancing and estate planning.

    Finally, your financial adviser will assist you with your personal requirements - superannuation, investments and insurance. A Good Financial Planner will also be able to help you with your projections for the business, and the planning of where you’d like your business to get.
  • But how do the different advisers work together, and how do they actually help you and your business. <bring in first five items>
    It helps to consider your affairs separate from your business and your business partner.
    The three different advisers each occupy a different professional space, and have different responsibilities.

    Your accountant will most likely be your most important business adviser, assisting with the taxation side of the business, but they will also help to make sure that you’re on track for your growth targets and that everything is in good shape. They will probably also do the personal tax returns for you, your partner and your families.

    Your solicitor will probably not be as involved in the day-to-day operations of your business, but will assist you with the legal requirements that pop up regularly - lease reviews, supplier negotiations, even mergers and takeovers. They will probably also help you and your partner with your personal legal needs - perhaps conveyancing and estate planning.

    Finally, your financial adviser will assist you with your personal requirements - superannuation, investments and insurance. A Good Financial Planner will also be able to help you with your projections for the business, and the planning of where you’d like your business to get.
  • But how do the different advisers work together, and how do they actually help you and your business. <bring in first five items>
    It helps to consider your affairs separate from your business and your business partner.
    The three different advisers each occupy a different professional space, and have different responsibilities.

    Your accountant will most likely be your most important business adviser, assisting with the taxation side of the business, but they will also help to make sure that you’re on track for your growth targets and that everything is in good shape. They will probably also do the personal tax returns for you, your partner and your families.

    Your solicitor will probably not be as involved in the day-to-day operations of your business, but will assist you with the legal requirements that pop up regularly - lease reviews, supplier negotiations, even mergers and takeovers. They will probably also help you and your partner with your personal legal needs - perhaps conveyancing and estate planning.

    Finally, your financial adviser will assist you with your personal requirements - superannuation, investments and insurance. A Good Financial Planner will also be able to help you with your projections for the business, and the planning of where you’d like your business to get.
  • But how do the different advisers work together, and how do they actually help you and your business. <bring in first five items>
    It helps to consider your affairs separate from your business and your business partner.
    The three different advisers each occupy a different professional space, and have different responsibilities.

    Your accountant will most likely be your most important business adviser, assisting with the taxation side of the business, but they will also help to make sure that you’re on track for your growth targets and that everything is in good shape. They will probably also do the personal tax returns for you, your partner and your families.

    Your solicitor will probably not be as involved in the day-to-day operations of your business, but will assist you with the legal requirements that pop up regularly - lease reviews, supplier negotiations, even mergers and takeovers. They will probably also help you and your partner with your personal legal needs - perhaps conveyancing and estate planning.

    Finally, your financial adviser will assist you with your personal requirements - superannuation, investments and insurance. A Good Financial Planner will also be able to help you with your projections for the business, and the planning of where you’d like your business to get.
  • But how do the different advisers work together, and how do they actually help you and your business. <bring in first five items>
    It helps to consider your affairs separate from your business and your business partner.
    The three different advisers each occupy a different professional space, and have different responsibilities.

    Your accountant will most likely be your most important business adviser, assisting with the taxation side of the business, but they will also help to make sure that you’re on track for your growth targets and that everything is in good shape. They will probably also do the personal tax returns for you, your partner and your families.

    Your solicitor will probably not be as involved in the day-to-day operations of your business, but will assist you with the legal requirements that pop up regularly - lease reviews, supplier negotiations, even mergers and takeovers. They will probably also help you and your partner with your personal legal needs - perhaps conveyancing and estate planning.

    Finally, your financial adviser will assist you with your personal requirements - superannuation, investments and insurance. A Good Financial Planner will also be able to help you with your projections for the business, and the planning of where you’d like your business to get.
  • But how do the different advisers work together, and how do they actually help you and your business. <bring in first five items>
    It helps to consider your affairs separate from your business and your business partner.
    The three different advisers each occupy a different professional space, and have different responsibilities.

    Your accountant will most likely be your most important business adviser, assisting with the taxation side of the business, but they will also help to make sure that you’re on track for your growth targets and that everything is in good shape. They will probably also do the personal tax returns for you, your partner and your families.

    Your solicitor will probably not be as involved in the day-to-day operations of your business, but will assist you with the legal requirements that pop up regularly - lease reviews, supplier negotiations, even mergers and takeovers. They will probably also help you and your partner with your personal legal needs - perhaps conveyancing and estate planning.

    Finally, your financial adviser will assist you with your personal requirements - superannuation, investments and insurance. A Good Financial Planner will also be able to help you with your projections for the business, and the planning of where you’d like your business to get.
  • But how do the different advisers work together, and how do they actually help you and your business. <bring in first five items>
    It helps to consider your affairs separate from your business and your business partner.
    The three different advisers each occupy a different professional space, and have different responsibilities.

    Your accountant will most likely be your most important business adviser, assisting with the taxation side of the business, but they will also help to make sure that you’re on track for your growth targets and that everything is in good shape. They will probably also do the personal tax returns for you, your partner and your families.

    Your solicitor will probably not be as involved in the day-to-day operations of your business, but will assist you with the legal requirements that pop up regularly - lease reviews, supplier negotiations, even mergers and takeovers. They will probably also help you and your partner with your personal legal needs - perhaps conveyancing and estate planning.

    Finally, your financial adviser will assist you with your personal requirements - superannuation, investments and insurance. A Good Financial Planner will also be able to help you with your projections for the business, and the planning of where you’d like your business to get.
  • But how do the different advisers work together, and how do they actually help you and your business. <bring in first five items>
    It helps to consider your affairs separate from your business and your business partner.
    The three different advisers each occupy a different professional space, and have different responsibilities.

    Your accountant will most likely be your most important business adviser, assisting with the taxation side of the business, but they will also help to make sure that you’re on track for your growth targets and that everything is in good shape. They will probably also do the personal tax returns for you, your partner and your families.

    Your solicitor will probably not be as involved in the day-to-day operations of your business, but will assist you with the legal requirements that pop up regularly - lease reviews, supplier negotiations, even mergers and takeovers. They will probably also help you and your partner with your personal legal needs - perhaps conveyancing and estate planning.

    Finally, your financial adviser will assist you with your personal requirements - superannuation, investments and insurance. A Good Financial Planner will also be able to help you with your projections for the business, and the planning of where you’d like your business to get.
  • But how do the different advisers work together, and how do they actually help you and your business. <bring in first five items>
    It helps to consider your affairs separate from your business and your business partner.
    The three different advisers each occupy a different professional space, and have different responsibilities.

    Your accountant will most likely be your most important business adviser, assisting with the taxation side of the business, but they will also help to make sure that you’re on track for your growth targets and that everything is in good shape. They will probably also do the personal tax returns for you, your partner and your families.

    Your solicitor will probably not be as involved in the day-to-day operations of your business, but will assist you with the legal requirements that pop up regularly - lease reviews, supplier negotiations, even mergers and takeovers. They will probably also help you and your partner with your personal legal needs - perhaps conveyancing and estate planning.

    Finally, your financial adviser will assist you with your personal requirements - superannuation, investments and insurance. A Good Financial Planner will also be able to help you with your projections for the business, and the planning of where you’d like your business to get.
  • But how do the different advisers work together, and how do they actually help you and your business. <bring in first five items>
    It helps to consider your affairs separate from your business and your business partner.
    The three different advisers each occupy a different professional space, and have different responsibilities.

    Your accountant will most likely be your most important business adviser, assisting with the taxation side of the business, but they will also help to make sure that you’re on track for your growth targets and that everything is in good shape. They will probably also do the personal tax returns for you, your partner and your families.

    Your solicitor will probably not be as involved in the day-to-day operations of your business, but will assist you with the legal requirements that pop up regularly - lease reviews, supplier negotiations, even mergers and takeovers. They will probably also help you and your partner with your personal legal needs - perhaps conveyancing and estate planning.

    Finally, your financial adviser will assist you with your personal requirements - superannuation, investments and insurance. A Good Financial Planner will also be able to help you with your projections for the business, and the planning of where you’d like your business to get.
  • But how do the different advisers work together, and how do they actually help you and your business. <bring in first five items>
    It helps to consider your affairs separate from your business and your business partner.
    The three different advisers each occupy a different professional space, and have different responsibilities.

    Your accountant will most likely be your most important business adviser, assisting with the taxation side of the business, but they will also help to make sure that you’re on track for your growth targets and that everything is in good shape. They will probably also do the personal tax returns for you, your partner and your families.

    Your solicitor will probably not be as involved in the day-to-day operations of your business, but will assist you with the legal requirements that pop up regularly - lease reviews, supplier negotiations, even mergers and takeovers. They will probably also help you and your partner with your personal legal needs - perhaps conveyancing and estate planning.

    Finally, your financial adviser will assist you with your personal requirements - superannuation, investments and insurance. A Good Financial Planner will also be able to help you with your projections for the business, and the planning of where you’d like your business to get.
  • But how do the different advisers work together, and how do they actually help you and your business. <bring in first five items>
    It helps to consider your affairs separate from your business and your business partner.
    The three different advisers each occupy a different professional space, and have different responsibilities.

    Your accountant will most likely be your most important business adviser, assisting with the taxation side of the business, but they will also help to make sure that you’re on track for your growth targets and that everything is in good shape. They will probably also do the personal tax returns for you, your partner and your families.

    Your solicitor will probably not be as involved in the day-to-day operations of your business, but will assist you with the legal requirements that pop up regularly - lease reviews, supplier negotiations, even mergers and takeovers. They will probably also help you and your partner with your personal legal needs - perhaps conveyancing and estate planning.

    Finally, your financial adviser will assist you with your personal requirements - superannuation, investments and insurance. A Good Financial Planner will also be able to help you with your projections for the business, and the planning of where you’d like your business to get.
  • But how do the different advisers work together, and how do they actually help you and your business. <bring in first five items>
    It helps to consider your affairs separate from your business and your business partner.
    The three different advisers each occupy a different professional space, and have different responsibilities.

    Your accountant will most likely be your most important business adviser, assisting with the taxation side of the business, but they will also help to make sure that you’re on track for your growth targets and that everything is in good shape. They will probably also do the personal tax returns for you, your partner and your families.

    Your solicitor will probably not be as involved in the day-to-day operations of your business, but will assist you with the legal requirements that pop up regularly - lease reviews, supplier negotiations, even mergers and takeovers. They will probably also help you and your partner with your personal legal needs - perhaps conveyancing and estate planning.

    Finally, your financial adviser will assist you with your personal requirements - superannuation, investments and insurance. A Good Financial Planner will also be able to help you with your projections for the business, and the planning of where you’d like your business to get.
  • But how do the different advisers work together, and how do they actually help you and your business. <bring in first five items>
    It helps to consider your affairs separate from your business and your business partner.
    The three different advisers each occupy a different professional space, and have different responsibilities.

    Your accountant will most likely be your most important business adviser, assisting with the taxation side of the business, but they will also help to make sure that you’re on track for your growth targets and that everything is in good shape. They will probably also do the personal tax returns for you, your partner and your families.

    Your solicitor will probably not be as involved in the day-to-day operations of your business, but will assist you with the legal requirements that pop up regularly - lease reviews, supplier negotiations, even mergers and takeovers. They will probably also help you and your partner with your personal legal needs - perhaps conveyancing and estate planning.

    Finally, your financial adviser will assist you with your personal requirements - superannuation, investments and insurance. A Good Financial Planner will also be able to help you with your projections for the business, and the planning of where you’d like your business to get.
  • But how do the different advisers work together, and how do they actually help you and your business. <bring in first five items>
    It helps to consider your affairs separate from your business and your business partner.
    The three different advisers each occupy a different professional space, and have different responsibilities.

    Your accountant will most likely be your most important business adviser, assisting with the taxation side of the business, but they will also help to make sure that you’re on track for your growth targets and that everything is in good shape. They will probably also do the personal tax returns for you, your partner and your families.

    Your solicitor will probably not be as involved in the day-to-day operations of your business, but will assist you with the legal requirements that pop up regularly - lease reviews, supplier negotiations, even mergers and takeovers. They will probably also help you and your partner with your personal legal needs - perhaps conveyancing and estate planning.

    Finally, your financial adviser will assist you with your personal requirements - superannuation, investments and insurance. A Good Financial Planner will also be able to help you with your projections for the business, and the planning of where you’d like your business to get.
  • But how do the different advisers work together, and how do they actually help you and your business. <bring in first five items>
    It helps to consider your affairs separate from your business and your business partner.
    The three different advisers each occupy a different professional space, and have different responsibilities.

    Your accountant will most likely be your most important business adviser, assisting with the taxation side of the business, but they will also help to make sure that you’re on track for your growth targets and that everything is in good shape. They will probably also do the personal tax returns for you, your partner and your families.

    Your solicitor will probably not be as involved in the day-to-day operations of your business, but will assist you with the legal requirements that pop up regularly - lease reviews, supplier negotiations, even mergers and takeovers. They will probably also help you and your partner with your personal legal needs - perhaps conveyancing and estate planning.

    Finally, your financial adviser will assist you with your personal requirements - superannuation, investments and insurance. A Good Financial Planner will also be able to help you with your projections for the business, and the planning of where you’d like your business to get.
  • When it comes to Succession planning, the different areas of responsibility are clear.

    The key point here is that the key to smooth and easy succession plan is the cooperation of the three different advisers. They need to communicate, efficiently and easily, and be comfortable sharing information with the other two parties. This is the best way to keep the process as smooth as possible.
  • When it comes to Succession planning, the different areas of responsibility are clear.

    The key point here is that the key to smooth and easy succession plan is the cooperation of the three different advisers. They need to communicate, efficiently and easily, and be comfortable sharing information with the other two parties. This is the best way to keep the process as smooth as possible.
  • When it comes to Succession planning, the different areas of responsibility are clear.

    The key point here is that the key to smooth and easy succession plan is the cooperation of the three different advisers. They need to communicate, efficiently and easily, and be comfortable sharing information with the other two parties. This is the best way to keep the process as smooth as possible.
  • When it comes to Succession planning, the different areas of responsibility are clear.

    The key point here is that the key to smooth and easy succession plan is the cooperation of the three different advisers. They need to communicate, efficiently and easily, and be comfortable sharing information with the other two parties. This is the best way to keep the process as smooth as possible.
  • When it comes to Succession planning, the different areas of responsibility are clear.

    The key point here is that the key to smooth and easy succession plan is the cooperation of the three different advisers. They need to communicate, efficiently and easily, and be comfortable sharing information with the other two parties. This is the best way to keep the process as smooth as possible.
  • When it comes to Succession planning, the different areas of responsibility are clear.

    The key point here is that the key to smooth and easy succession plan is the cooperation of the three different advisers. They need to communicate, efficiently and easily, and be comfortable sharing information with the other two parties. This is the best way to keep the process as smooth as possible.
  • When it comes to Succession planning, the different areas of responsibility are clear.

    The key point here is that the key to smooth and easy succession plan is the cooperation of the three different advisers. They need to communicate, efficiently and easily, and be comfortable sharing information with the other two parties. This is the best way to keep the process as smooth as possible.
  • When it comes to Succession planning, the different areas of responsibility are clear.

    The key point here is that the key to smooth and easy succession plan is the cooperation of the three different advisers. They need to communicate, efficiently and easily, and be comfortable sharing information with the other two parties. This is the best way to keep the process as smooth as possible.
  • When it comes to Succession planning, the different areas of responsibility are clear.

    The key point here is that the key to smooth and easy succession plan is the cooperation of the three different advisers. They need to communicate, efficiently and easily, and be comfortable sharing information with the other two parties. This is the best way to keep the process as smooth as possible.
  • When it comes to Succession planning, the different areas of responsibility are clear.

    The key point here is that the key to smooth and easy succession plan is the cooperation of the three different advisers. They need to communicate, efficiently and easily, and be comfortable sharing information with the other two parties. This is the best way to keep the process as smooth as possible.
  • When it comes to Succession planning, the different areas of responsibility are clear.

    The key point here is that the key to smooth and easy succession plan is the cooperation of the three different advisers. They need to communicate, efficiently and easily, and be comfortable sharing information with the other two parties. This is the best way to keep the process as smooth as possible.
  • Now that we’ve covered just what succession planning is, I’m sure that you can relate it back to your business - particularly if you agree with me that it is crucially important. So I have two questions for you again -
  • Knowing what you know now, on a scale of one to ten, how important is THE FUTURE of your business?
  • Knowing what you know now, on a scale of one to ten, how important is THE FUTURE of your business?
  • Knowing what you know now, on a scale of one to ten, how important is THE FUTURE of your business?
  • Knowing what you know now, on a scale of one to ten, how important is THE FUTURE of your business?
  • Knowing what you know now, on a scale of one to ten, how important is THE FUTURE of your business?
  • "Exit Or Escape: Planning for Your Best (or Worst) Day in Business

    1. 1. EXIT OR ESCAPE: PLANNING FOR YOUR BEST (OR WORST) DAY IN BUSINESS Jordan Vaka Financial Planner TANGRAM FINANCIAL
    2. 2. DISCLAIMER • Material contained in this presentation is a summary only and is based on information believed to be reliable and received from sources within the market. It is not the intention of TANGRAM FINANCIAL (ABN: 97 137 190 759) that this presentation be used as the primary source of readers’ information but as an adjunct to their own resources and training. • No representation is given, warranty made or responsibility taken as to the accuracy, timeliness or completeness of any information or recommendation contained in this publication and TANGRAM FINANCIAL will not be liable to the reader in contract or tort (including for negligence) or otherwise for any loss or damage arising as a result of the reader relying on any such information or recommendation (except in so far as any statutory liability cannot be excluded). • Individual circumstances, in particular relating to your business’ situation, investment preferences, risk tolerances and gearing tolerance, may vary greatly. This presentation has been prepared for general information purposes only and not having regard to any particular person’s investment objectives, financial situation or needs. Accordingly, no recommendation (express or implied) or other information should be acted upon without obtaining specific advice from an authorised representative. • TANGRAM FINANCIAL is an authorised representative of DOVER FINANCIAL ADVISERS, AFSL: 307 248. TANGRAM FINANCIAL
    3. 3. TWO QUESTIONS: TANGRAM FINANCIAL
    4. 4. TANGRAM FINANCIAL
    5. 5. HOW IMPORTANT IS YOUR BUSINESS TO YOU? TANGRAM FINANCIAL
    6. 6. HOW IMPORTANT IS YOUR BUSINESS TO YOU? 1 TANGRAM FINANCIAL
    7. 7. HOW IMPORTANT IS YOUR BUSINESS TO YOU? 1 TANGRAM FINANCIAL
    8. 8. HOW IMPORTANT IS YOUR BUSINESS TO YOU? 1 10 TANGRAM FINANCIAL
    9. 9. TANGRAM FINANCIAL
    10. 10. EXIT TANGRAM FINANCIAL
    11. 11. EXIT OR TANGRAM FINANCIAL
    12. 12. EXIT OR ESCAPE TANGRAM FINANCIAL
    13. 13. EXIT OR ESCAPE WHICH WOULD YOU PREFER? TANGRAM FINANCIAL
    14. 14. WHAT IS SUCCESSION PLANNING? TANGRAM FINANCIAL
    15. 15. TANGRAM FINANCIAL
    16. 16. ‘Preparing yourself and your business for all of the current and possible circumstances that could lead to you leaving the business ...to maximise the positives, and limit the negatives.’ TANGRAM FINANCIAL
    17. 17. TANGRAM FINANCIAL
    18. 18. CURRENT AND POSSIBLE CIRCUMSTANCES? TANGRAM FINANCIAL
    19. 19. CURRENT AND POSSIBLE CIRCUMSTANCES? Retirement TANGRAM FINANCIAL
    20. 20. CURRENT AND POSSIBLE CIRCUMSTANCES? Retirement Seachange TANGRAM FINANCIAL
    21. 21. CURRENT AND POSSIBLE CIRCUMSTANCES? Retirement Seachange Disability TANGRAM FINANCIAL
    22. 22. CURRENT AND POSSIBLE CIRCUMSTANCES? Retirement Seachange Disability Death TANGRAM FINANCIAL
    23. 23. CURRENT AND POSSIBLE CIRCUMSTANCES? Retirement Seachange Disability Death Dispute TANGRAM FINANCIAL
    24. 24. CURRENT AND POSSIBLE CIRCUMSTANCES? Retirement Seachange Disability Death Dispute Divorce TANGRAM FINANCIAL
    25. 25. CURRENT AND POSSIBLE CIRCUMSTANCES? Retirement Seachange Disability Death Dispute Divorce Major Illness TANGRAM FINANCIAL
    26. 26. TANGRAM FINANCIAL
    27. 27. NEGATIVE CONSEQUENCES... TANGRAM FINANCIAL
    28. 28. NEGATIVE CONSEQUENCES... Inability to Retire TANGRAM FINANCIAL
    29. 29. NEGATIVE CONSEQUENCES... Inability to Retire Destruction of Business Value TANGRAM FINANCIAL
    30. 30. NEGATIVE CONSEQUENCES... Inability to Retire Destruction of Business Value Destruction of Family Wealth TANGRAM FINANCIAL
    31. 31. NEGATIVE CONSEQUENCES... Inability to Retire Destruction of Business Value Destruction of Family Wealth Partnership Dispute TANGRAM FINANCIAL
    32. 32. NEGATIVE CONSEQUENCES... Inability to Retire Destruction of Business Value Destruction of Family Wealth Partnership Dispute ...POSITIVE OUTCOMES? TANGRAM FINANCIAL
    33. 33. NEGATIVE CONSEQUENCES... Inability to Retire Destruction of Business Value Destruction of Family Wealth Partnership Dispute Control ...POSITIVE OUTCOMES? TANGRAM FINANCIAL
    34. 34. NEGATIVE CONSEQUENCES... Inability to Retire Destruction of Business Value Destruction of Family Wealth Partnership Dispute Certainty Control ...POSITIVE OUTCOMES? TANGRAM FINANCIAL
    35. 35. NEGATIVE CONSEQUENCES... Inability to Retire Destruction of Business Value Destruction of Family Wealth Partnership Dispute Clarity Certainty Control ...POSITIVE OUTCOMES? TANGRAM FINANCIAL
    36. 36. NEGATIVE CONSEQUENCES... Inability to Retire Destruction of Business Value Destruction of Family Wealth Partnership Dispute Maximum Value Clarity Certainty Control ...POSITIVE OUTCOMES? TANGRAM FINANCIAL
    37. 37. WHAT DOES A SUCCESSION PLAN COVER? TANGRAM FINANCIAL
    38. 38. Five Steps: TANGRAM FINANCIAL
    39. 39. TANGRAM FINANCIAL
    40. 40. One: TANGRAM FINANCIAL
    41. 41. One: Identify Your Goals TANGRAM FINANCIAL
    42. 42. TANGRAM FINANCIAL
    43. 43. Two: TANGRAM FINANCIAL
    44. 44. Two: Identify The Contingencies TANGRAM FINANCIAL
    45. 45. TANGRAM FINANCIAL
    46. 46. Three: TANGRAM FINANCIAL
    47. 47. Three: Protect the Downside TANGRAM FINANCIAL
    48. 48. TANGRAM FINANCIAL
    49. 49. Four: TANGRAM FINANCIAL
    50. 50. Four: Grow the Upside TANGRAM FINANCIAL
    51. 51. TANGRAM FINANCIAL
    52. 52. Five: TANGRAM FINANCIAL
    53. 53. Five: Review TANGRAM FINANCIAL
    54. 54. One: Identify Your Goals Two: Identify The Contingencies Three: Protect the Downside Four: Grow the Upside Five: Review TANGRAM FINANCIAL
    55. 55. FOUR DOORS. FOUR OPTIONS. TANGRAM FINANCIAL
    56. 56. Voluntary Involuntary Planned (Exit) Unplanned (Escape) TANGRAM FINANCIAL
    57. 57. Voluntary Involuntary Planned IDEAL (Exit) Unplanned (Escape) TANGRAM FINANCIAL
    58. 58. Voluntary Involuntary Planned IDEAL Acceptable (Exit) Unplanned (Escape) TANGRAM FINANCIAL
    59. 59. Voluntary Involuntary Planned IDEAL Acceptable (Exit) Unplanned Acceptable (Escape) TANGRAM FINANCIAL
    60. 60. Voluntary Involuntary Planned IDEAL Acceptable (Exit) Unplanned Acceptable DESTRUCTIVE (Escape) TANGRAM FINANCIAL
    61. 61. THE ROLE OF ADVISERS. TANGRAM FINANCIAL
    62. 62. TANGRAM FINANCIAL
    63. 63. Your Business TANGRAM FINANCIAL
    64. 64. Your Business TANGRAM FINANCIAL
    65. 65. Your You Business TANGRAM FINANCIAL
    66. 66. Your You Business TANGRAM FINANCIAL
    67. 67. Your Your You Business Partner/s TANGRAM FINANCIAL
    68. 68. Your Financial Adviser Your Your You Business Partner/s TANGRAM FINANCIAL
    69. 69. Your Your Financial Accountant Adviser Your Your You Business Partner/s TANGRAM FINANCIAL
    70. 70. Your Your Your Financial Accountant Solicitor Adviser Your Your You Business Partner/s TANGRAM FINANCIAL
    71. 71. Your Your Your Financial Accountant Solicitor Adviser Your Your You Business Partner/s TANGRAM FINANCIAL
    72. 72. Your Your Your Financial Accountant Solicitor Adviser Your Your You Business Partner/s TANGRAM FINANCIAL
    73. 73. Your Your Your Financial Accountant Solicitor Adviser Your Your You Business Partner/s TANGRAM FINANCIAL
    74. 74. Your Your Your Financial Accountant Solicitor Adviser Your Your You Business Partner/s TANGRAM FINANCIAL
    75. 75. Your Your Your Financial Accountant Solicitor Adviser Your Your You Business Partner/s TANGRAM FINANCIAL
    76. 76. Your Your Your Financial Accountant Solicitor Adviser Your Your You Business Partner/s TANGRAM FINANCIAL
    77. 77. Your Your Your Financial Accountant Solicitor Adviser Your Your You Business Partner/s TANGRAM FINANCIAL
    78. 78. Your Your Your Financial Accountant Solicitor Adviser Your Your You Business Partner/s TANGRAM FINANCIAL
    79. 79. Your Your Your Financial Accountant Solicitor Adviser Your Your You Business Partner/s TANGRAM FINANCIAL
    80. 80. Your Your Your Financial Accountant Solicitor Adviser Your Your You Business Partner/s TANGRAM FINANCIAL
    81. 81. TANGRAM FINANCIAL
    82. 82. Your Accountant TANGRAM FINANCIAL
    83. 83. Your Accountant TANGRAM FINANCIAL
    84. 84. Your Accountant Business Valuation Communication TANGRAM FINANCIAL
    85. 85. Your Your Financial Accountant Adviser Business Valuation Communication TANGRAM FINANCIAL
    86. 86. Your Your Financial Accountant Adviser Business Valuation Project Management Communication Funding Arrangements Insurance Arrangements Superannuation Planning TANGRAM FINANCIAL
    87. 87. Your Your Your Financial Accountant Solicitor Adviser Business Valuation Project Management Communication Funding Arrangements Insurance Arrangements Superannuation Planning TANGRAM FINANCIAL
    88. 88. Your Your Your Financial Accountant Solicitor Adviser Business Valuation Project Management Communication Funding Arrangements Insurance Arrangements Superannuation Planning TANGRAM FINANCIAL
    89. 89. Your Your Your Financial Accountant Solicitor Adviser Business Valuation Project Management Shareholder Agreement Communication Funding Arrangements Exit Agreement Insurance Arrangements Buy/Sell Agreement Superannuation Planning Estate Planning TANGRAM FINANCIAL
    90. 90. Your Your Your Financial Accountant Solicitor Adviser Business Valuation Project Management Shareholder Agreement Communication Funding Arrangements Exit Agreement Insurance Arrangements Buy/Sell Agreement Superannuation Planning Estate Planning TANGRAM FINANCIAL
    91. 91. Your Your Your Financial Accountant Solicitor Adviser Business Valuation Project Management Shareholder Agreement Communication Funding Arrangements Exit Agreement Insurance Arrangements Buy/Sell Agreement Superannuation Planning Estate Planning TANGRAM FINANCIAL
    92. 92. Your Your Your Financial Accountant Solicitor Adviser Business Valuation Project Management Shareholder Agreement Communication Funding Arrangements Exit Agreement Insurance Arrangements Buy/Sell Agreement Superannuation Planning Estate Planning TANGRAM FINANCIAL
    93. 93. TWO QUESTIONS: TANGRAM FINANCIAL
    94. 94. TANGRAM FINANCIAL
    95. 95. HOW IMPORTANT IS THE FUTURE OF YOUR BUSINESS? TANGRAM FINANCIAL
    96. 96. HOW IMPORTANT IS THE FUTURE OF YOUR BUSINESS? 1 TANGRAM FINANCIAL
    97. 97. HOW IMPORTANT IS THE FUTURE OF YOUR BUSINESS? 1 TANGRAM FINANCIAL
    98. 98. HOW IMPORTANT IS THE FUTURE OF YOUR BUSINESS? 1 10 TANGRAM FINANCIAL
    99. 99. HOW IMPORTANT IS THE FUTURE OF YOUR BUSINESS? 1 10 SO WHY PUT ITS FUTURE AT RISK? TANGRAM FINANCIAL
    100. 100. TANGRAM FINANCIAL
    101. 101. REMEMBER: TANGRAM FINANCIAL
    102. 102. REMEMBER: Succession Planning helps your business grow. TANGRAM FINANCIAL
    103. 103. REMEMBER: Succession Planning helps your business grow. Succession Planning keeps you in control of your business. TANGRAM FINANCIAL
    104. 104. REMEMBER: Succession Planning helps your business grow. Succession Planning keeps you in control of your business. Succession Planning can never be done too early. But it can be done too late. TANGRAM FINANCIAL
    105. 105. REMEMBER: Succession Planning helps your business grow. Succession Planning keeps you in control of your business. Succession Planning can never be done too early. But it can be done too late. Succession Planning is an orderly, structured way of achieving your personal and business goals. TANGRAM FINANCIAL
    106. 106. AN OFFER FROM TANGRAM: Make an appointment before December 31st, 2009 and mention tonight’s presentation, and we will halve the normal price for a succession planning Statement of Advice. TANGRAM FINANCIAL
    107. 107. QUESTIONS? TANGRAM FINANCIAL
    108. 108. THANK YOU. Email: jvaka@tangramfinancial.com.au Phone: 1800 460 490 Website: www.tangramfinancial.com.au Forum: www.tangramfinancial.com.au/tellus Blog: www.tangramfinancial.blogspot.com TANGRAM FINANCIAL

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