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

 


6 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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2 comments

Category: Estate Planning

Have you ever thought about who would run your business if you were not available, even if you have a buy-sell agreement in place? This simple question brings to mind lots of questions such as: Who is qualified to run it? Who do you want to run it? Would your employees accept that person in your place? Would there be a disagreement between your employees about who should be in charge? Does that person even know that you would want him/her to take charge? Would he/she even want to be in charge? Could your business partner (if there is one) or a family member take over for you? You get the idea. There is no simple answer to this simple question...

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Category: Estate Planning

A distraught 40’s something woman, call her Sarah, phoned me about two months ago and shared the following story. “My father walked into his place of business last week, told his secretary a joke, and then dropped dead at his desk. My parents were divorced and my mother has a serious illness. We buried Dad yesterday. I had been after him for a long time to write a will, but I don’t know if he ever did”.

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Category: Estate Planning

You have labored long and hard in your business for several years, and to your credit the business is thriving. Your son or daughter has worked in the business and you have paid him a fair wage. (I will use the male gender only for the sake of simplicity.) Somewhere along the line you might have mentioned or insinuated that someday “he could or would take over the business”, or, that “the business would be his”. If you are like most business owners, you probably did not give much thought at the time about what this meant to your son, to you, or how you would make this happen.

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Category: Estate Planning

Fortunately no one really believes that. These are just lyrics from the show “Cabaret”. And although money is not the most important thing in the world, we sure do enjoy what it allows us to do, such as buy the things we enjoy, give to those we love, and support the causes we believe in. As business consultants who focus on Comprehensive Exit Planning, we learn a lot about what our clients really value. Turns out their value system includes far more than money.

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Category: Estate Planning

Many business owners work day in and day out focusing on the issues at hand but not paying much attention to how they will eventually leave. If you have not given it much thought, or if you are assuming that someday you will sell it to some outside party,you might not be aware of how attractive or unattractive your business is from a buyer’s viewpoint. It would be a mistake to think that because you are making a nice living, someone will want to buy it. However, your employees might be interested, and, if you have not properly prepared the business for a sale to an outside third party, they might be your only option. There are pros and cons to selling to employees.

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Category: Estate Planning

Sometimes key employees do demand to have a piece of the action, but are they really asking for a share of ownership, or do they just want a significant share of the profits and some recognition. Looking at the situation from our business-owner clients’ viewpoint, they often want to “reward” key employees. To a business owner, “ownership” is the ultimate reward, so he (or she) often concludes that transferring stock is an appropriate solution. But for a key employee, sharing in company growth is usually reward enough. Before you start giving or selling away part of your company, take a look at exactly what that means and then explore other strategies that are available to you. More importantly, find out what both you and your key people are trying to accomplish before offering to give or sell stock to them.

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Category: Estate Planning

Exit planning is a dynamic process that is designed and implemented by an Exit Planner who coordinates all the needed resources and professionals, collectively called “the team”, that are required for the business owner to successfully transition ownership of his or her business, regardless of the strategy he or she selects.

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