Exit Planning Institute North Texas Chapter Social

Date:  June 8, 2017  4:30- 6:30
Place: Nick and Sam's, 8111 Preston Rd, Dallas 75225  (Preston Center SW corner)
Members: $15; Non-Members $20
Register: Here


"Working Capital - What You Don't Know Can Sabotage the Transaction"

Date: July 14, 2017  7:30-9:00
Place: Salmon Sims Thomas CPAs, 12720 Hillcrest Rd, Suite 900 Dallas, TX 75230
Members: $15; Non-Members $20
Speakers:  Monty Walker and Robert Rough

Register: Here


" Could Exit Planning Have Saved This Family and its Business"

Date: August 11, 2017  7:30- 9:00
Place: Salmon Sims Thomas CPAs, 12720 Hillcrest Rd, Suite 900, Dallas, TX 75230
Members: $15; Non-Members $20
Speakers: Doug Box, Interviewed by Mariann Montgomery
Register: Here


"Business Value for Exit Planning-Triggers Drivers Approaches"

Date: September 8, 2017  7:30-9:00
Place: Salmon Sims Thomas CPAs , Suite 900, Dallas 75230
Members: $15  Non-Members- $20
Speakers: Chris Mercer
Register: Here

 


1957 comments

Category: Financial Planning

Finding the right financial advisor for you is a very personal matter, and, making the right decision is more important than you might think. It's just as important as identifying the right attorney or CPA. For most lower mid-market business owners, the majority of their investible net worth is tied up in their business. If you fall into that category, you might think that you don't need a financial advisor until that equity has been unlocked and is ready to be invested. I disagree with you for several reasons.

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3 comments

I'm going to give an attorney-like answer - "it depends". It depends on 1) how dependent you are on the business for income or investible assets 2) how dependent the business is on you and 3) how dependent you are on the business for your own personal well-being. Digging a little deeper, ask yourself a few questions ...

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0 comments

Category: Financial Planning

Finding the right financial advisor for you is a very personal matter, and, making the right decision is more important than you might think. It's just as important as identifying the right attorney or CPA. For most lower mid-market business owners, the majority of their investible net worth is tied up in their business. If you fall into that category, you might think that you don't need a financial advisor until that equity has been unlocked and is ready to be invested. I disagree with you for several reasons. Here are a few:

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I was sitting in a reception area of a lower mid-market business recently. I watched two very experienced and professional receptionists (call them Kathy and Diane) struggle to write company advertising to be placed on Craig's List. Some company sales come from Craig's list so new ownership thought it would be a cost-saver to have Kathy and Diane write the Craig's List ads. Under previous ownership, all advertising had been written by an outside source that specialized in ad writing and placement.

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1 comment

Some day you will leave your business. That's a fact. If you are the type of person who needs to be in control, you have already decided how and when you will sell and who will represent you in the transaction. Or maybe you have a buyer in mind that you plan to approach on your own. No matter which camp you are in, here are some points to consider. One Buyer is No Buyer You have probably heard that "one buyer is no buyer". If you have one buyer, he (or that entity) will drag out the process, wearing you down until you are willing to agree to his terms. You would be wise to retain a mergers and acquisitions professional to identify at least two qualified, potential buyers. He will run an auction between the serious suitors. The result is all suitors will be forced to offer their best price and terms. You win.

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0 comments

That's a loaded statement. Give serious thought to what it means to your son, daughter, employee(s), or whoever you are talking to. To them, it could mean something entirely different than what you intend. Or maybe over the years, exactly what you have intended has changed. Such a statement to family or key employees could mean that you intend to gift your business interest to them. Or, that maybe you will sell it to them for less than its true value. It could also mean that you will finance a sale for below market price and terms, or with no expectation of a down payment. Either way, be clear about your intent and your capability to follow through.

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2 comments

Perspective is essential for any leader. Without it you wander aimlessly and are likely to lose your way. Many business owners find themselves in this situation where they can’t see the forest for the trees. You can’t lead effectively if you can’t see. If you are so focused on the day-to-day operations and are constantly putting out fires, then you have reached the point where your fingerprints are on every aspect of the business. This is not a good situation if you are hoping to transfer ownership of your business someday. It is especially troubling if your equity is earmarked to fund your retirement.

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1 comment

You're about to enter into the transaction of a lifetime. If you're like most business owners, almost all of your investible net worth is locked up in your business. You're playing for keeps. The financial security and comfort of your family depends on exiting right. Preparation is everything. Gather all the facts before making a move. The success or failure of your exit depends on how well you prepare, and, the quality of your exit planning team. And when we talk about “exit plan” we really mean the plan itself, and, the exit planning process. The exit plan itself includes review of, and, recommendations, based on the sum total of all the data that needs to be gathered before you decide on and commit to your exit strategy. It's the data gathering that we're focusing on in this article.

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92 comments

Category: Q & A

Q&A: My kids don’t want my business and I don’t want to sell to my employees, so I will be looking to sell to an outsider third party. I have an idea about what my business is worth, but honestly, I’m not sure. Should I get a business valuation before I sell? A full blown valuation might not be necessary. It won’t tell you how to increase the value, if need be, how salable your business is, nor what you will net from the sale after taxes and fees. An analysis based on the income approach to value along with a review of the current position of the value drivers would probably serve your needs better. See how it works to get a better idea of the value drivers that impact value, salability, and bankability. Call us at 214-692-9192 to learn more about the value report and analysis that we prepare. - See more at: http://businesswealthsolutions.net/index.php/resources/blog/blog-sub6/q-should-i-obtain-business-valuation-i-sell1/#sthash.akGyKkWo.dpuf

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3 comments

Category: Estate Planning

Have you ever wondered who would immediately step in and run your company if you became unavailable for any reason? If you are wondering, then your employees, key people, customers, vendors, bankers, other shareholders, and family members probably are too.

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