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Business Owner Succession Strategies

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Exit Planning

How can you enhance your financial readiness?

Submitted by Business Owner Succession Strategies | Edina, Minnesota on July 24th, 2022

As you may know, Exit Planning includes “financial readiness.” A well thought out plan addresses how much you will need in retirement. We just had our Freedom Point deeper dive webinar this week and we talked about how to calculate your Freedom Point.

 

Tags:
  • Business Owner
  • Exit Planning
  • financial readiness
  • Retirement Planning
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How Business Owners May Benefit from Working With a CEPA

Submitted by Business Owner Succession Strategies | Edina, Minnesota on June 26th, 2022

If you own a business, there are many decisions to make on a day-to-day basis. But, when it comes to selling your business, transferring it to key employees or family members, or retiring, planning can often become more complex. It is essential for business owners to have an exit plan as they transition to the next phase of life.

Tags:
  • Business Owner
  • Exit Planning
  • Exit Strategy
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The Solution to the Rainmaker’s Dilemma

Submitted by Business Owner Succession Strategies | Edina, Minnesota on February 23rd, 2022
According to the Value Builders Systems company, they recently concluded a survey of more than 23,000 business owners and found that almost half of those businesses were run by rainmakers. What that means is that the business owner is responsible for more than 75% of the company’s revenue.
Tags:
  • Business Owner
  • Exit Planning
  • Owner-Centric Business
  • Rainmaker
  • Succession Planning
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Tax Planning for Family Business Succession

Submitted by Business Owner Succession Strategies | Edina, Minnesota on January 6th, 2022

Many owners of family businesses are so busy running their companies that they never get around to making formal arrangements to pass on the business to the next generation or to other partners.

Tags:
  • Exit Planning
  • Family Business
  • Succession Planning
  • Tax Planning
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The House of Gucci Succession Plan

Submitted by Business Owner Succession Strategies | Edina, Minnesota on December 6th, 2021

By now, you may have seen the movie House of Gucci. Lady Gaga and Al Pacino star in the true depiction of the Gucci family. The Gucci brand started with two brothers who own the family business equally. Each brother had a son, and each son was to inherit the empire. One of the sons was a ne’er-do-well, who always attracted and found trouble.

Tags:
  • Business
  • Exit Planning
  • Succession Planning
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The Seven Simple Truths About Exit Planning

Submitted by Business Owner Succession Strategies | Edina, Minnesota on December 2nd, 2021
  1. All business owners will need to (one day) exit the business.

  2. All business entities have some value (even if it is net assets) that can be sold or transferred to someone else.

Tags:
  • Entrepreneurs, Success, Financial Security, Small Business Owner
  • Exit Planning
  • Succession Planning
  • Read more

Can I Golf Every Day?

Submitted by Business Owner Succession Strategies | Edina, Minnesota on August 3rd, 2021

What does your Retirement Plan Design look like?

Tags:
  • Exit Planning
  • Retirement Planning
  • Succession Planning
  • Read more

Is Your Business You-Proof?

Submitted by Business Owner Succession Strategies | Edina, Minnesota on July 22nd, 2021

Whether you’re planning to sell your company sometime soon or sometime in the future, NOW is the time to ensure that your business isn’t all about you. Here are two key factors that are linked to the probability of getting an offer for your business when it’s time to sell. 

Tags:
  • Exit Planning
  • Succession Planning
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Why You Can't Sell Your Business Overnight

Submitted by Business Owner Succession Strategies | Edina, Minnesota on June 17th, 2021

So why can’t you just sell your business in a couple of months?

Tags:
  • Exit Planning
  • Succession Planning
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3 Things Wealthy Business Owners Do Differently

Submitted by Business Owner Succession Strategies | Edina, Minnesota on June 7th, 2021

Much is made of analyzing the personality traits of successful entrepreneurs. 

 

Some appear outgoing. Others are introverts. Some lean right, others left. Some are flashy. Others are frugal with their finances.

 

Their diversity can lead one to the conclusion that there are no common personality traits among successful founders. 

Tags:
  • Exit Planning
  • Succession Planning
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The 8 Exit Strategies for Business Owners

  1. Transfer the company to a family member.
  2. Sell the business to one or more key employees.
  3. Sell to employees using an employee stock ownership plan.
  4. Sell to one or more co-owners.

What are the other 4?

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