The first step in a journey is to decide how you will get there. For that, you need a map. The map doesn’t tell you how to go. It quantifies your options. How long will it take? What roads should you use? If you take a side trip, how far out of your way must you go? Can you get there in the time you anticipated, or do you need to plan for contingencies? ExitMap® Express™ is a step-by-step process to help owners examine their options.
If you’re ready to get started, choose your Exit Planner from the list of ExitMap® Advisors to complete a free 15-minute Exit Readiness Assessment.
THE PROCESS:
The Five ExitMap® Express™ Meetings (In-Person or via Video Conference)
- Meeting #1 – Stakeholders
Includes a discussion about the business, the initial preferred strategy, and its potential impact on family, employees, partners and customers.
- Meeting #2 – Financial Readiness
After completing three short exercises, we will discuss discretionary cash flow, determine how a lender will look at financing, and calculate the amount needed from the sale.
- Meeting #3 – Business Readiness
Explore the company’s dependence on the owner, and the recruiting or training needs for the owner to successfully step back from daily operations.
- Meeting #4 – Personal Readiness
Using three cooperative exercises, we will determine the owner’s activity, income requirements, identity and future plans for their “life after the business.”
- Meeting #5 – Prioritized Action Items
The owner will choose their most important objectives for implementation, and begin working to develop the targets, time frames and accountable parties needed to move forward.
- “Your ExitMap®” Final Deliverable
The final report will document your Goals, Personal Vision, and the Action Items for moving forward with the transition plan. - Meeting #2 – Financial Readiness
