Make Your Transition Easy – Expert Exit Planning Services for Business Owners
At Heritage Business Advisors, we know that preparing to exit the company you've poured yourself into for so many years is one of the most important things you will ever do. Through our exit planning services, it is our goal to ensure that both the business owner and the business are ready to sell when the opportunity and the correct timing intersect.
Business exit planning is a process and should be approached with the same intentionality with which you run your business. That's why we believe that it’s never too early to begin planning the exit of your business. The team of Certified Exit Planning Advisors (CEPA) at Heritage takes the guesswork out of preparing for your exit with meticulous detail. Our extensive training in business value growth and exit planning strategies makes us unique here in Knoxville and around the country.
“To move from concepts to action, you need to integrate exit strategy practices into the daily operations of your business.”
— Christopher M. Snider (Founder of the Exit Planning Institute)
Whether it’s personal finance, value growth, taxes, or legal issues, you can rest assured that Heritage Business Advisors will guide you through the entire process, choosing the exit strategy that’s best for you, your family, and your business. Gathering, assessing, modifying, and monitoring the numbers can be an in-depth and complicated process, one that continues to become exponentially more complicated as competition increases, laws change, and technology advances. Navigating a business exit requires the skill of proven advisors. Heritage Business Advisors has the experience and the expertise to guide you through your exit.
Business exit planning is a complicated and ever-changing process that not just anyone has the experience to handle. Here at Heritage, we have the training to navigate the complexities of that process. We coordinate your company's principles with key staff members, your CPA, your banker, your legal team and anyone else that has an effect on your finances, in an effort to drive your long-term growth. Our team takes our fiduciary obligation to act in your best interest very seriously and your success is our number one motivation.
From small, single-owner businesses with modest annual sales to large, multi-owner corporations, Heritage has the knowledge and experience to prepare you for a successful exit. The team at Heritage Business Advisors have been trained as MBA’s, Certified Exit Planning Advisors, and Certified Value Growth Advisors™ allowing us to bring strategies that help prepare you to meet your business objectives.
The Exit Planning Process
By focusing on the Value Acceleration Methodology (VAM), we can position you and your business to be ready for your exit when the opportunity and timing present themselves. Proper exit planning should be an ongoing process that begins years before you plan to make your exit. Using the VAM, we can break the entire exit planning process down into three “gates.” These gates are Discovery, Preparation, and Decision. Each one has multiple steps to complete before you will have successfully passed through them.
Heritage Business Advisors’ Certified Exit Planning Advisors take you through the entire process so that you are assured that your transition is as seamless as possible. In order to better prepare you, we have created a detailed description of the process.
Gate One: Discovery
The Discovery gate is all about getting to know you and your business, inside and out. Here, we will evaluate your personal finances, your business’s benchmark value, tax records, and even estate plans. All of these components show us where you are and how to proceed.
Gate Two: Preparation
The second gate is all about delivering your action plans and executing them with your team. By this time, you will have held several workshops with them and come to a consensus on what the vision is and how to prioritize each action step in your plans.
It is best to keep your plans to 90-day “sprints.” By focusing on what is immediately in front of you, we can more easily manage the necessary changes that must be made to prepare for a successful exit. After completing the tasks designated for the current 90-day plan, you will reset your focus and we will make preparations to begin the next 90-day sprint.
Gate Three: Decision Time
By the time you have passed into gate three, we will have made many operational, personal, and financial changes to your business. Many of these will have become routine in the day-to-day activities within your company.
Entering gate three is the culmination of our client/advisor relationship. What were once long-term goals will now be a tangible reality that requires you to contemplate the current status of your company, reflect on the past, and make a decision about the future of you and your business.