Call us at (816) 743-7700

Succession Planning

  • The One Date You Need to Make Sure is on Your Calendar

    By MarksNelson on June 4, 2018
    0
    0
    According to surveys, up to 79% of business owners plan to exit their businesses within the next ten years, with more than half saying they want to exit within the next five years. However, many business owners fall into the trap of the “rolling five-year Exit Plan,” in which owners constantly reset their exit dates for five years later. This often prevents them from taking tangible steps to accomplish their exit goals.
  • How Emotion Affects Your Exit Plan

    By MarksNelson on May 4, 2018
    0
    0
    Generally, business owners feel comfortable being owners. They enjoy what they do, but rationally, they know they need to change their roles in their businesses eventually. But most owners don’t resist planning their exits on a rational basis. Instead, they resist Succession Planning at an emotional level.
  • What to Expect When Beginning the Exit Planning Process

    By MarksNelson on March 22, 2018
    0
    0
    For business owners, the idea of exiting their businesses, which for many owners define their professional lives, can seem like a gigantic undertaking. They ask themselves, “How can I possibly do all of this? Where can I go for help, and what do I need to know?”
  • When Key Employees Stall Your Exit Plan

    By MarksNelson on February 21, 2018
    0
    0
    An important part of a successful ownership transfer, regardless of Exit Path, is the presence of key employees.
  • Knowing What You Have In Order to Get What You Want

    By MarksNelson on January 19, 2018
    0
    0
    For many business owners, building their successful businesses began by accurately determining what they had. Whether their businesses provide products, services, or ideas, the success they experienced didn’t come to them blindly. It likely took years of refinement, study, and analysis to figure out the best way to establish and deliver the thing that makes the business successful. The same is true when discussing business exits.
  • Setting Exit Goals for the New Year

    By MarksNelson on January 9, 2018
    0
    1
    With the new year upon us, many people have begun their journeys to fulfill their New Year’s resolutions. For business owners, it’s no different. Between creating goals for the business to achieve and assuring that the business keeps growing, owners will have much to consider this year.
  • What Could Go Wrong When Transferring Ownership to Employees?

    By MarksNelson on November 30, 2017
    0
    0
    We often hear owners say they want to transfer their businesses to third-party buyers when they first encounter the concept of Exit Planning. However, we’ve observed that in many completed Exit Plans, owners actually choose to transfer their businesses to employees. Some reasons for this decision include employees knowing the culture and values of the business, a desire to keep the business with people the owner knows and trusts, and employees’ inherent desire and commitment to grow the business.
  • How to Avoid Surprises During Exit Planning

    By MarksNelson on November 14, 2017
    0
    0
    For some business owners, a third-party sale is their best option for a successful business exit. Third-party sales are popular because owners often believe they can get the most money from their businesses in as little time as possible from a third-party buyer. They might be right. But what they may not consider is how little control they have over their businesses, their schedules, and even their futures once the third-party sale process begins.
  • In Exit Planning Being Inconsequential is Key

    By MarksNelson on October 25, 2017
    0
    0
    It’s likely that few people, if any, have ever told you, “You need to make yourself less important,” regarding your business. But sophisticated buyers look for businesses that can operate without their owners. Unless your exit planning goal is to sell or transfer your business, and then stay with the business as a subordinate to assure a smooth transition, you’ll need to train a management staff that can run the business without you.
  • Minimizing Threats to Business Value

    By MarksNelson on October 4, 2017
    0
    0
    Many owners and advisors talk about the importance of growing business value, and there are nearly unlimited options to help business owners do just that. But wouldn’t you agree that growing business value is pointless if you don’t know how to reduce the threats to that growth? As you prepare for an eventual exit from your business, there are several threats to business value that you need to be aware of.