A closely held business may account for over 70% of an owner's wealth. Because the business is considered illiquid, the ability to monetize the trapped wealth becomes overly complex.
There are many moving parts in the process and each must be carefully coordinated to maximize results. At Beacon Exit Planning, LLC we have extensive knowledge and experience in the various aspects of transferring a business so the potential to achieve your exiting goals become more realistic.
The Beacon Exit Planning philosophy is simple
Each business owner has a unique set of motives for their business and exit (i.e., not just getting the highest price) so we believe that every exit strategy should be conducted over a period of time that is sufficient to accomplish each owner's true motives.
- We also recognize that every business owner looks at their business differently, so every exit strategy should be customized to fit that owner's primary objective.
Our proprietary three step D.A.D. process helps us reach success
Discovery – Understanding a business owner’s true goals for achieving success with the business transition. The definition of success can only be defined by the owner.
That’s why we begin every plan with a series of interviews to fully recognize what is motivating the owner. Bottom line, it should be the owner’s motives, not the advisor’s motives that dictates the direction of the plan.
Analysis – Over the years, a business owner has created numerous legal documents that will influence a business owner’s life. These documents can include, buy-sell agreements, wills, trusts, insurance policies and even the formation of the Company itself.
Beacon analyzes each one of these documents to determine if they are properly coordinated and if they fully support the goals of the owners as identified in the Discovery phase. In the analysis phase we identify potential obstacles to success.
Design – This is where we put pencil to paper and begin to draft the plan or the blueprint for execution of the strategy.
The owner will have several alternatives each indicating, from a monetary standpoint the value of the business and what can be expected to be paid in fees and taxes, ultimately leading to the amount that the owner will realize in net proceeds.
We further provide solutions to potential roadblocks each with the owners’ intentions in mind.
Exit strategies should evoke the same spirit within a business owner that existed when the business was started. Beacon Exit Planning, LLC provides the tools for business owners to make educated decisions about how to best transition the company and follows through by providing the necessary resources to fulfill the plan.
Beacon Exit Planner Explainer Video