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Don’t muck up your exit ! “The proper man understands equity – the small man, profits” Confucius 551 – 479 BC


Don’t muck up your exit ! “The proper man understands equity – the small man, profits” Confucius 551 – 479 BC

By , July 9, 2015

According to the most recent research from the Exit planning Institute state of owner readiness survey – 64 % of privately owned businesses in the USA are owned by Baby boomers ( aged between 51 and 69 )  and significantly 80 % of their family’s total wealth is tied up with the business and related assets.  In many cases the business was started 20 years ago and has grown significantly, over that period the owner has purchased assets – buildings, equipment etc sometimes in the trading entity but often in separate entities and structures for asset protection and taxation. In addition any lenders have taken security over various assets within the group.

This is a massive issue for baby boomer business owners who have not spent any time effort or money on exit planning ! Imagine running a successful business for 20 years and building up a substantial pool of assets and messing up the exit and therefore failing to crystallize that value and achieve a successful exit.

“The proper man understands equity – the small man, profits” Confucius 551 – 479 BC – this quote, though very old, focuses on this exact problem !

Maximizing the value of your business and achieving a successful exit should be the ultimate test for any business owner –

“Having an exit strategy is the ball game for any entrepreneur… the idea is simply to build, grow and sell – whether sell means list, pass on to family, merge, sell to employees or trade sale, there has to be a strategy!” Michael Gerber


Craig West

Craig West

Managing Director | Succession Plus

Craig West is a strategic accountant who has over 20 years’ experience advising business owners. His background as a CPA in public practice, provided invaluable experience in the key issues of concern to business owners. Following 6 years of study to gain two masters degrees, Craig focused on Capital Gains Tax (CGT) for business sales advising on strategic management of tax issues. This experience formed a very strong view that business owners (and often their advisers) were unprepared and unaware of the steps required to prepare a business for exit.

Craig now acts as a strategic mentor for mid-market business owners and has written four critically acclaimed books on employee incentives, succession planning, asset protection and exit strategies. Craig has conducted numerous seminars and keynote presentations throughout Australia & internationally, including adviser education programs for the Institute of Chartered Accountants and CPA Australia.