Our Process...
Pace helps the business owner achieve a successful exit by providing the following turnkey services:
- Coordinate and facilitate the creation of an Exit Strategy Plan based on the owner's goals and objectives.
- Work collaboratively with existing trusted advisors typically consisting of an attorney, a CPA, an insurance and financial professional.
- Educate the business owner from start to finish on the exit process; guiding the owner down an unknown path, the single most significant financial event of an owner's life, helping him or her balance two key emotions: "fear and greed".
- Develop an operating strategy enhancing the value drivers of the business while addressing weaknesses, opportunities and threats.
- Implementation of the strategy to a successful completion of an exit.
The "Seven Step Process" to a successful completion of an exit.
- One
- Two
- Three
- Four
- Five
- Six
- Seven
Step 1: Identify Exit Objectives
- What is your departure timeline?
- How much income will you need to achieve financial security?
- To whom do you wish to sell: family/management or outside third party?
Step 2: Quantify Business and Personal Financial Resources
- How much is your business worth?
- What is the value and potential cash flow of non-business assets?
- Have you confirmed your financial security objective through a needs analysis?
- Does the aggregate value of business and non-business assets achieve you financial security objectives?
Step 3: Maximizing and Protecting Business Value
- Are there strategies to create and enhance the value drivers while addressing weaknesses associated with the business?
- Have you created the ability to sell the business?
- Do you know how to minimize taxes upon sale of the business?
- Have you implemented asset protection strategies reducing the exposure of business and personal assets?
Step 4: Ownership Transfer - Selling to Third Party
- Is your business positioned to maximize value?
- Do you know how to minimize your tax liability?
- Do you understand the process?
- Do you know how to select the appropriate investment banker/broker?
Step 5: Ownership Transfer - Selling to Insiders
- Do the insiders have cash and available borrowings to purchase you ownership?
- Do you know how to minimize risk while receiving the desired value?
- Do you know how to minimize tax liability?
- Do you know how to structure the transaction maintaining control until you get the last dollar?
Step 6: Business Continuity
- Is there a formal plan in case of an unexpected event, disability or death?
- Has the plan been reviewed and updated to current conditions of the business?
- Does the plan provide consistency between lifetime and death objectives?
- Does the plan ensure survival of the business for the benefit of others?
Step 7: Personal Wealth and Estate Planning
- Has estate planning been part of business planning?
- Does your plan preserve wealth, minimize taxes using both lifetime and death planning tools?
- Does your estate plan coordinate and integrate lifetime objectives?
