Business Exit Planning Resources NewslettersClick here to subscribe to Exit Planning Newsletters direct to your inbox!Why Make Your Business More Valuable Without You3 Things That Can Build Future Business ValueIs Your Business Worth as Much as You Think?Working Backward: 3 Questions to Ask About Your PlanningReducing Risk can Build ValueAre You Being Your Own Worst Enemy?Why Maintaining Planning Momentum is ImportantHow Business Owners are Approaching Their FuturesHow to Leverage Your Strengths in a Business Exit3 Things to Remember About Third-Party SalesIncentivizing Your Best Employees to StayMaintaining Control, Minimizing Risk, and Rewarding Your Best EmployeesWhether You Sell Your Business or Not, the Planning Is the SameA Planning Process for Future SuccessTurning a Lifestyle Business into a Business EnterpriseShaping Your Plans for a Successful FutureOptionality and Your Plans for Your Business FutureWhat You May Get Wrong About Business ValuationsHow Long Does Planning for Your Business Future Take?How Do Business Performance and Health Affect Your Planning?Must You Fire Your Managers to Grow the Business?3 Ways to Position Yourself and Your Family for Future SuccessRealistic TimelinesGrowing Business Value When Times Are Tough White PapersSetting GoalsWhen business owners first think about their business exits, their minds can wander to all of the things they think they must do right away. Before they jump into any planning, they need to know what they're planning for. They must first set certain kinds of goals that are realistic, ambitious, and attainable. This white paper examines three types of goals business owners must set and provides guidance for how those goals should be set. Business owners who know why they need to set certain goals and how to set those goals can have more success as they begin their planning.HeadwindsStrong businesses typically implement strong business plans. Likewise, strong business exits are typically the result of implementing strong Exit Plans. Exiting a business is only as difficult as an owner makes it, but which difficulties should owners be aware of as they exit? This white paper will discuss three major headwinds in an owner's exit and provide potential solutions to cutting through the headwinds on their way to a breezy business exit.Exit Paths for Business OwnersWhen business owners start to think about exiting their companies, the number of possible Exit Paths can seem limitless. In reality, there are only eight. This white paper will guide owners through each Exit Path and help them determine which Exit Path might be best for their unique situations.Successful Transfer of the Family BusinessExit Planning for family businesses creates its own set of unique challenges and rewards. While each family's situation differs, the transfer plans we can design are founded on three basic principles:We must ensure that the parents’ post-business life is financially secure.It is important to create a fair way for children to receive ownership interest and other assets.We emphasize the need to keep parents in control of the company until they have attained financial security and until the successors are fully equipped to run the company successfully.Top 10 Deal PitfallsThis white paper describes 10 deal pitfalls (in no particular order) that each have the capability to derail a deal, some more effectively than others. All of these pitfalls are fairly common, although some owners are prone to fall into more pits than others. Before and throughout your Exit Planning Process, refer to each of these pitfalls to assure that you don’t fall into them. Avoiding these pitfalls will allow a smooth exit on your terms.Understanding Business ValueKnowing what a business is worth is one of the foundations of planning a business exit. Unless business owners know what their businesses are worth, it’s difficult—if not impossible—for them to know whether they can achieve financial security following their business exit. But there are several different ways to measure business value, and each has pros and cons. This white paper, authored by Empire Valuation Consultants, LLC, will explain the differences among different valuation methods and help business owners understand what the different kinds of valuations can (or can’t) tell them.