You’re a Business Owner Who’s Thinking About Retirement.

Preparing for your transition from business owner to retirement or “work optional”– whether you’re selling your business, merging or going public can be a complex but manageable process. Here are some tips to help prepare your company.

Understand Your Objectives

Determine your goals. Setting clear, defined and actionable goals is highly important. Decide whether your priority is maximizing financial ROI, preserving the company’s legacy, or ensuring employee well-being post-transition. You’ll also want to plan out your timeline. Consider when you want to retire and how much time you can commit to the preparation process.

Maximize Recurring Revenue Streams

Buyers value predictable and stable cash flows. Look for ways to diversify your client base beyond a few major clients to reduce perceived risk. Consider Investing in marketing, technology, and systems that may help showcase your company’s growth potential and stable standing in the market.

Conduct a Business Valuation

Your wealth advisor may refer you to M&A advisors and/or investment bankers, then you decide on the most qualified professional to work with you. The M&A advisor or investment banker will work with you to get an understanding of your company’s enterprise value. We deliver this process at no cost or obligation to the business owner.

Plan for Your Transition

Determine whether you’ll want to stay on as an advisor or exit the company entirely. Take time to reflect on your legacy, then mentally prepare for letting go of a business you’ve built.
By taking these steps, you may be better positioning your business as an attractive, well-organized asset, which can maximize value and ensure a smoother transition for everyone involved.