Friday, May 10, 2013

Video Segments - What Business Owners Need to Know

All business owners will one day sell their business.  For those that are prepared this will occur voluntarily, on their terms at a time of their choosing.  For many business owners, however, this will occur involuntarily due to burnout, illness, disability, divorce or death.
 
Are you looking to sell your business within the next five years?  If so, the time to act is now.  You and your business need ample time to prepare for this event – and there are things business owners need to know before even contemplating selling their business.
 
You may turn to your accountant or lawyer for advice regarding exit or succession planning, but have you involved an independent financial planner, business valuator or corporate finance specialist in your exit planning discussions?
 
Financial planner
  • Vital to ensure you achieve your financial needs and goals
Business valuator
  • Vital for estate planning, enhancing value and avoiding legal disputes
Corporate finance specialist
  • Vital to increase the salability of your business and to find a buyer
 
These professionals are critical to developing an effective exit plan; one that will ensure your goals are met when you sell or exit your business on your terms at a time of your choosing.
 
If you are interested in learning more about the importance of these professionals to your exit planning efforts, check out this series of short videos that deal with what business owners need to know before even contemplating selling their business.
 
 
Video 1 – In this video segment, Scott Plaskett, Senior Financial Planner and CEO at Ironshield Financial Planners (www.ironshield.ca) discusses why traditional financial planning for business owners does not work, the most common trap business owners set for themselves and how to get your business ready for your retirement.
 
Video 2 – In this video segment, Scott Plaskett interviews Jason Kwiatkowski, CA, CBV, ASA, CEPA and President at Valuation Support Partners (www.vspltd.ca) about why you need to know what your business is worth today, a major trend that should concern business owners and why the last 3 to 5 years of your business are so critical to your success.
 
Video 3 – In this video segment, Scott Plaskett interviews John Duguid and Rod Howland, Managing Directors at Gallium Corporate Finance (www.galliumcf.com) about what all buyers care about (and no it’s not price), what a traditional sales cycle looks like and the best and worst time to sell your business.
 
You may not be looking to exit your business in the coming year.  However, if you are planning to exit within the coming decade and would like to maximize the price you receive, you must begin your planning now.  Contact us at www.vspltd.ca to help you get started and to work with you to ensure a successful implementation.
 
 
 
 

1 comment:

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