Whether we like it or not, all good things come to an end.

Even the most successful and ambitious business owners will leave their organization some day. Before that day comes, it’s imperative to have a robust exit plan in place, well in advance, that will safeguard the future of your business and your personal financial success.

Why Do We Plan Ahead?

Quality exit planning ensures that you leave your business on your terms. This planning typically results in:

  • Strengthened viability and sustainability of your company.
  • Smooth transition to a next-level new management team.
  • Strong company culture unified around common goals.
  • Business continuity plans that significantly reduce risk exposure.
  • Increased company value in the eyes of potential buyers.
  • Better returns for shareholders. 
  • Peace of mind for you and your loved ones. 

Without a proper exit plan in place, business owners could lose control of the future of their business. And those ramifications could affect nearly everyone involved in the company. 

Creating an Exit Plan

If you have imminent plans to sell your business or to step away from a leadership position, then exit planning should be on your mind. Even if you think you could leave your company in the next 5-10 years, you should start working now to create a plan that leaves your business in the best position possible to thrive in the future and allow you to meet your financial and values-based goals. A successful exit can take all of 5 to 10 years to fully execute so it truly is never too early to start.

Components of an Effective Exit Plan

The foundation of the best exit plans are built on the three universal goals for an owner to leave on their terms:

  1. Leaving their business when they desire.
  2. Leaving the business to whom they desire.
  3. Leaving the business with enough money to assure financial independence.

From there, a detailed plan can be built using an experienced team of advisors that will act as a blueprint for business transition. 

Every exit plan should account for:

  • The sale of the business –– or the transition of the business to new management. 
  • Managerial continuity before, during, and after the transition. 
  • Financial considerations, like taxes.
  • Legal stipulations.
  • Unexpected departures of key personnel. 
  • Disasters, accidents and personal upheavals.

Building an Exit Plan Together

An exit plan is a crucial aspect of any sound business model. Although exiting your business may seem far away, planning that makes for a strong exit in the future, always leads to a stronger, more profitable, and often more enjoyable business today. 

Business owners don’t have to face this challenge on their own. At Helm Financial, we have valuable experience working with entrepreneurs across industries to deliver business continuity and exit planning solutions. Unlike other advisors, attorneys or CPAs that are generalists, we specialize in business continuity and exit planning. And we can use our specific knowledge to help you achieve a positive outcome. 

Our team will help address a number of common exit planning strategy pain points, and we’ll work with you to develop a list of priorities specific to your situation. 

Together, we’ll build a plan tailored for you and your needs designed for the highest probability of success. 

Partnering with Helm Financial

Not only is Helm Financial one of the few companies specializing in exit planning on the market, but we also offer a number of other advantages to business owners looking to secure their future. We are fully independent and are experts in the area of protecting the most valuable asset of a company… its people. We can help retain and motivate key people through executive compensation strategies and key person insurance. We’re the only organization to offer a free key person insurance policy calculator. Plus, we tailor our pricing to fit the size and needs of your business. Fill out the form below to begin your consultation. 

Exit Planning Readiness Survey

If you’re considering leaving your position, knowing the steps necessary to leave the company in good hands is crucial. To find out how prepared you are to leave your business, take our exit plan readiness survey and receive customized resources tailored to your current status.

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Let us help you prepare for a successful business exit.

Contact us to learn more about our exit planning strategies and financial coverage options for your company.