On a scale of 1-5, with 1 being the lowest and 5 being highest, please indicate your level of preparedness for a future exit.

1)Not prepared, 2) Slightly Prepared, 3) Neutral, 4) Prepared, 5) Very Prepared

    1. Exit Path or Successor

    I have clearly identified my exit path and future successor for my business.

    2. Business Value

    We have fully developed the value of my business based on our free cash flow to the highest value possible.

    3. Business Exit Plan

    My advisors and I have diligently designed our exit strategy and have created a detailed written plan with an execution timeline.

    4. Value Drivers

    We have identified our top three Value Drivers that generate most of our bottom-line profits and have worked to fully develop them over the past few years.

    5. Employment Agreements

    Our management team’s employment agreements are in place, have been updated and tied to our exit strategy so there is a smooth management transition where expectations are met.

    6. Employee Performance

    We have a formal incentive program tied to company and employee performance with formulas, benchmarking and periodic reviews and updates.

    7. Asset Protection

    We have created and implemented an asset protection plan for the assets of the company including all intellectual property.

    8. Tax Minimization

    My advisors and I have developed and implemented a tax reduction strategy to help minimize the erosion of my net worth due to income taxes, capital gain taxes and estate/gift taxes.

    9. Income Needs

    I have taken the time to properly assess my personal after-tax income requirements and know the minimum after-tax value that I require from the sale of my company.

    10. Communication Plan

    We have developed a written pre-exit communication strategy that timely informs clients and customers, management, employees, vendors, banks and others who touch our business.

    11. Exit Planning Team

    I have built an experienced team of professionals to advise me and my management team throughout the exit process, with specific expertise in selling a business like mine.

    12. Company Culture

    Over the years we have actively developed the company culture, employee morale is high, employees are motivated and in good spirits for a future company transition.

    13. Exit Obstacles

    I have periodic meetings with my advisors where we have identified all potential exit obstacles and have implemented a strategy to combat each obstacle.

    14. Corporate Governance

    We have worked diligently over the years and have maintained highly accurate and up-to-date books and records including corporate documents and Standard Operating Procedures (SUP).

    15. Goodwill

    I know the value of the goodwill and intellectual property assets of my company. I have a strategy to protect and monetize goodwill during a monetization event.

    16. Risk Management

    With my team of advisors, I have identified and quantified pre-exit risks throughout my business and have implemented a strategy to mitigate those risks leading into the sale of my business.

    Notice: Undefined index: company-name in /home/jl9j6pz0bixj/public_html/clearadvicebusinessquiz.com/wp-content/themes/cabquiz/page-home.php on line 245