Jared Siegel, who holds a Certified Exit Planning Advisor (CEPA®) credential, talks about value acceleration and exit planning and uses scenarios to explain the importance of good business strategy in this solo episode of Success That Lasts.
Tune in here, at delapcpa.com/podcast, or wherever you listen to podcasts:
Here are a few highlights:
- According to studies conducted by the Exit Planning Institute, 99% of business owners agree that having a transition strategy is important for both their future and that of their businesses. However, 79% have no written transition plan, 48% have done no exit planning at all, and 94% have no written personal plan.
- Value acceleration helps measure the values of your intangible assets against other organizations within your industry.
- The future of your business can be addressed by a great exit plan. Exit planning asks and answers all the business, personal, financial, legal, and tax questions involved in transitioning a privately owned business. It includes contingencies for illness, burnout, divorce, and death, with the ultimate purpose being to maximize the value of your business at the time of exit while minimizing taxes.
- “You can seldom improve quality by cutting costs, but you can often cut costs by improving quality,” Jared remarks. “The wrong cost-cutting can impact your long-term growth and reduce your overall long-term value.”
- At its core, all authentic growth depends upon customers wanting more of what a company offers.