Do I have to pay $10,000 just to find out what my business is worth?

The answer is: “It depends on why you are asking”. There are a few specific situations that may require that you pay for a formal valuation. In all other cases, you can get professionals to provide the same price information for free.

Watch our short video below explaining how to determine if you really need a formal valuation, and if not, how you can go about obtaining free, high-quality valuation feedback on your company.

To discuss this further, contact me for a no-cost valuation feedback for your company.

Do I have to pay $10,000 just to find out what my business is worth

Video: Who Should I Use to Value My Business?

All successful businesses have an exit plan because every business owner will exit from the business, one way or another. The question is for you to determine the right strategy from the four potential exit strategies available to privately owned businesses and their owners. Identifying which strategy at the right time will save you money by aligning your goals with the business objectives to ensure a successful outcome for both the business and yourself. The four possible business exit strategies are:

1. Pass to Family (“Passer”)
2. Sell to Outside Third Parties (“Outie”)
3. Sell to Inside Key Employees (“lnnie”)
4. Planned Liquidation (“Squeezer”)

“Passers” (as we call owners who want to pass the business down to family members) must address a number of special issues to exit successfully. One is how to create a business exit that is fair to all of their children, whether they work in the family business or not. Woven into these issues are family dynamics, relationships, and realities which can undermine the owner’s successful business exit.
This short video explores one of those key issues-how to treat all of your children fairly when some of them work inside the business, and some do not. The differences between fair and equal and why you need to prepare a comprehensive plan that is aligned with both your family and your business goals.

Download the NAVIX® EXIT STRATEGY CHECKLIST – PASSING THE BUSINESS TO FAMILY that reviews the seven conditions that Passers must meet in order to achieve a happy exit.
Call us to schedule a complimentary discussion to help you outline the plans needed to achieve a successful exit.

http://www.kinane.com/why-fair-does-not-mean-equal-when-it-comes-to-family-and-business/

Buyers want to buy businesses that are growing. You already know this. But, growing how fast? What is the growth rate that buyers will pay maximum value for? What growth rate is too low to command top value?

If your exit strategy is to sell your business for the maximum value, you will need to present potential buyers with a written business growth plan that presents a credible and compelling proposal for how your business will achieve and sustain the growth described in this short video.

If your business does not have a track record of working from a written, up-to-date, multi-year growth plan, buyers may pay less for it at sale. Contact us to learn more about our exit planning advice and solutions, and how we help owners create value leading up to and at exit.

How fast does your business need to grow

Every business owner will exit from the business, one way or another. In fact, there are four potential strategies to exit from a privately owned business. Identifying which strategy is yours creates a clear path to plan and execute a successful exit. The four possible business exit strategies are:

1. Pass to Family

2. Sell to Outside Third Parties

3. Sell to Inside Key Employees

4. Planned Liquidation

If your strategy is to sell your business to an outside buyer, in our terminology we call that being an “Outie.” Being an Outie presents may rewards. Sale to a third party may create financial freedom, validate your years of hard work and sacrifice, and launch a legacy as the business continues forward because of your efforts and accomplishment. Selling a business for top dollar, with minimal taxes, while fulfilling your business legacy, takes hard work and preparation. Owners cannot afford to be surprised late in the game and realize they are failing short of meeting the conditions required to successfully exit via sale.

In our experience, there are four absolutely essential conditions that Outies must meet in order to achieve a happy exit. Review the checklist below to evaluate how prepared you are, and to identify actions that will help you achieve a successful exit.

Click this link to open the checklist:

NAVIX+Exit+Strategy+Checklist+-+Outie tjk