1)      Set owner goals and objectives

a.      Determine your retirement goals

b.      Determine your income needs

c.       Determine timeline

d.      Determine preferred transaction type

e.      Outright sale to third party

f.       Sale to family members

g.      Sale to employees

2)      Prepare a business valuation reflecting the current state of the company

a.      This is key to determining if your goals are realistic and achievable

b.      Determine your net work, including company value

c.       Determine methods to enhance the company value

3)      Design an ext plan and strategy designed specifically linked to your goals

a.      How your goals will be achieved

b.      Team responsibilities

c.       Financial plan and tax strategies

d.      Transition

e.      Contingency plan

4)      Wealth Preservation

a.      Integrate estate and tax planning

b.      How to invest your proceeds

c.       Tax strategies related to the transition and investments

For more information regarding exit planning feel free to contact Barry Worth, CPA, CM & AA, CVA at 314.983.1202 or bworth@bswllc.com.