Succession Planning Helps Businesses Build Value

By John Brown via

In this series of posts, we’re discussing the creative, but all-too-common, objections owners make to regarding Exit Planning.

  • Excuse #1: “There’s no reason to plan my exit until I’m ready to leave.”
  • Excuse #2: “I just don’t have time!”

A third common objection speaks to a problem many owners face: “There’s no reason to plan an exit until my business is worth enough to leave.”

Many advisors do not specialize in increasing business cash flow/value, which causes them to respond, “I’m not equipped to help you build value,” and move on to other prospects. It’s likely that most owners would agree with their advisors: They don’t believe that attorneys, CPAs, financial planners, or most other professionals can help them grow value. But all Exit Planners run into the issue of value. In fact, inadequate business value is the primary issue Exit Planners will have to tackle. Since many Exit Planners come from backgrounds that don’t explicitly deal with increasing value, how do they address this issue?

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