Every owner WILL exit their business.
The question is HOW would you like to exit yours?
Do you want it to be on your terms or someone else’s?
Did You Know?
79% of business owners have no written plan for their exit?
70% of businesses that are put on the market do not sell at all or for less than anticipated?
Only 30% of family-owned businesses transition to the 2nd generation?
50% of business exits are involuntary?
The reality is most business owners are underprepared to exit their business, despite the fact everyone will at some point in the future, primarily because they don’t know what an exit will look like.
Many owners imagine creating chaos within their business or personal life if they start planning for it and so they procrastinate.
Others believe it will bring harm to their current business due to distractions, so they choose to avoid it.
Some are afraid of thinking about “what’s next” in life beyond their business so they prefer to think an exit will never happen.
All these reasons are legitimate and common. But the smart business owner, who has spent years planning how to build their business, understands the importance of planning how to exit successfully.
Do I know EXACTLY what my business is worth today? If you answered “yes,” what is your value based upon?
Ask Yourself:
Do I know EXACTLY how much money I need to live my retirement lifestyle comfortably to age 90 or beyond?
Am I and my family prepared if my future working years are cut short due to sickness, death or other cause?
What would happen to me and my family if I didn’t sell my business for the amount I needed?
If I choose to sell to my family, do I know how to do that in a way that benefits me and them?
Have I thought about how my exit from the business will affect all the families of my employees?
MYTH
Exit planning begins in the year I want to sell.
TRUTH
While a business can be sold within a year, most are not and those that do get far less for their business than they planned or hoped for. Exit planning should begin a minimum of 2 years before an exit, ideally many more.
MYTH
I don’t need to plan for my exit if I’m giving the business to my kids/family/employees.
TRUTH
It takes just as much time to prepare to sell to family or employees as it does to an outside buyer. In addition, there are complex tax and estate issues to resolve if selling to family or employees.
MYTH
Business owners have a good feel for how much their business is worth at any given time.
TRUTH
There are many reasons for this, but the value most business owners place on their business is typically overestimated by 50-100%.
MYTH
So called “Experts” on exit planning are just trying to sell something to the owner.
TRUTH
CEPA’s®️ (Certified Exit Planning Advisors) are particularly equipped to help business owners exit with optimal success in a way that is in the owner’s best interest.
These are the reasons this lunch event was built just for you.
Todd Bailey, trusted CEPA®️ advisor and Professional EOS Implementer, will be sharing specific information for how to begin thinking about your exit. His experience includes…
17 Years of pastoral ministry
17 years as a small business owner, exiting his latest business in 2023
7 years of EOS implementation experience
Has worked with dozens of small business owners
CEPA®️ – Certified Exit Planning Advisor
In this event Todd will be discussing the…
“5 Realities to Understand For Exiting Your Business.”
Topics will include…
Why failing to plan for your exit is the same as planning to fail.
The 2 ways to visualize your exit and how the choice you make will significantly impact your business value.
The reasons why most business owners overvalue their business and how to think differently about yours.
Identify your 3 critical “gaps” and discover how to bridge them.
Learn how the 5 “D’s” in life can change your plan on a dime and how to prevent them from derailing your planned exit.
How to care for your current employees and their families as you prepare to exit.
How to begin with the end in mind and build your exit plan.
Tuesday, June 3rd
11:30am-1:30pm
at “Naos Hellenic Cuisine”
2800 Renaissance Park Place in Cary
A catered lunch will be provided along with valuable exiting content and tools you can take home to begin implementing in your business immediately to prepare you for your eventual exit.
Cost: $25 per person.
RSVP below by Friday, May 31st.
Limited seating. This event is by personal invite only.
This lunch is for you if…
You are a business owner with about 10 employees or more.
You are likely within 2-10 years of exiting your business.
Your annual business gross revenue is $1M or above.
Your business is in Raleigh/Cary/Apex or surrounding areas.
The money from the sale of your business is crucial to your financial future and retirement goals.
