Exit Strategy Planning
100% of Small Businesses will experience an Exit of their Owners. Is your business prepared?
Exit Planning is the Exception Rather than the Rule.
According to the Exit Planning Institute's 2019 Owner Readiness Report, most Small Business Owners have 80-90% of their financial wealth locked up inside of their businesses. With this amount of wealth at risk, one would think that owners would plan better for their Exit Strategy. Unfortunately this is not so.
This same study also found that only 25% of Business Owners have done any type of Exit Strategy planning. It also showed that 75% of Business Owners that had experienced an exit from their business were unsatisfied with the end result for them and their family.
Exiting from a business can be for more reasons that just retirement. Other reasons that can be even more prevalent are what we call the three "D's": Death, Disability, and Divorce. All of these can have destructive effect on businesses.
One of the main reasons that Jeff and Eric founded BKA Wealth was their desire to help business owners successfully exit from their businesses. After many years working with Business Owners who had unsuccessful exits, they felt that something must be done to help. Eric and Jeff founded BKA Wealth Consulting to help Business Owners be prepared for their Exit.
As a Business Owner, you need to have a strategic exit plan from your business that includes what we refer to as the "Five Pillars or Business Value". BKA Wealth Consulting created our proprietary BizVue (sm) process to assist our clients in maximizing the value of their businesses and creating a succession plan.
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