Clear Focus LLC and ExitMap® Express™
ExitMap® Express™ is a step-by-step 5-Meeting process that helps business owners test their assumptions and model their options for transition. This “Structured Discovery” is a journey the advisor and client take together using a series of exercises to understand Financial Readiness, Business Readiness and Personal Readiness for transition. Driven by standardized tools and technology, Express™ specifically focuses on better defining the business owner’s goals and life after the business.
ExitMap® Express™ 5-Meeting Structured Discovery
The Express process is completed in five meetings (via video or in person). It produces an actionable report to help you achieve your transition objectives and identify which path best meets your needs.
Using a series of exercises, together we will better understand your Financial Readiness, Business Readiness, and Personal Readiness for transition. We will discuss the potential of internal buyers (if any) and the different third parties (entrepreneurs, private equity, and other businesses) who might fit your strategy.
The 5-Meeting Format:
Meeting #1 – Stakeholders
➤ We will discuss the business, your initial preferred strategy, and its potential impact on family, employees, partners and customers.
Meeting #2 – Financial Readiness
➤ In three exercises we will model your discretionary cash flow, determine how a lender would look at financing, and calculate the amount you need from the sale in order to achieve your goals.
Meeting #3 – Business Readiness
➤ Any business increases in value if it’s run by a competent management team. We will discuss the company’s dependence on you, and the recruiting or training needs for you to successfully step back from daily operations.
Meeting #4 – Personal Readiness
➤ Using three cooperative exercises, we will determine your activity, income requirements, identity and purpose in your “life after the business.”
Meeting #5 – Prioritized Action Items
➤ After choosing your most important objectives for implementation, we will work with you to develop the targets, time frames and accountable parties needed to move forward.
“Transition Plan Action Items”
The final report will document your Goals, Personal Vision, and the Action Items for moving forward with your transition plan.
Get Started with your FREE Readiness Assessment!
The ExitMap® Assessment© examines your exit preparedness in four key categories; Operations, Planning, Finance and Revenue/Profit. The multiple-choice questionnaire produces a 12-page summary report that is emailed to you without obligation. You will not be asked for any sensitive information. After receiving your report, we will contact you to schedule a follow up debriefing to discuss your exit preparedness. Start here.
Frequently Asked Questions about Exit Planning
Who should engage in exit planning?
Surveys show that most business owners are dependent on the proceeds from a sale to fund their “next act” life goals. Unfortunately, fewer than 25% of them have a written plan. Exit Planning is like strategic planning, except you choose a target time frame and proceeds instead of a sales goal.
What will an exit plan make me do?
Nothing. No one confuses planning a trip with getting in the car and starting the engine. A map helps you to know how far you have to go and when to get started.
Why should I consider engaging help to do this?
As Professional ExitMap Advisors, we are experts at asking the right questions, in the right order, so you can make informed decisions and understand your options. Our “structured discovery” approach is proven to render the best results for an owner and the clearest direction for moving forward.
Why would I want to discuss my “life after the business?”
Multiple studies have found that 75% of owners are unhappy a year after their exit. Most go through an “extended vacation” of travel and bucket list goals. Then they begin to look for something that can replace the activity, identity and purpose that their business provided for decades.
Our process is designed to let you experiment with your objectives. The outcome is a plan that is a realistic representation of your ability to leave in your own time frame, in the manner you choose and with the proceeds you need.
Can’t I just list my business for sale when the time comes?
Roughly 200,000 employers change hands or close annually. Business Brokers sell fewer than 10,000 of those. Private Equity purchases another 6,000 to 7,000. The remaining 85% have to find their own path.
For most owners, transferring their business is the most important financial event of their lives. Don’t you think it deserves some preparation?