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THE EXIT Quick Assessment

Maximizing the value of your business begins with key planning and preparation. Many business owners leave money on the table at the time of exit due to lack of preparedness. It can take an average of two years to properly prepare for a successful exit. Even if selling your business is not in your immediate plans, you and your company should always be prepared.

This questionnaire will help assess your preparedness around key elements contributing to your ability to capture maximum value for your business. Take the first step to maximizing business value. 

We understand it is difficult to critique your own business, but it will be extremely helpful in diagnosing challenges that are keeping your company from realizing its maximum value potential. 

 Click the button below to begin your Exit Readiness Assessment.

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Question 1 of 27

1. Have you completed your trust & estate planning?

A

No

B

Yes, but more than three years ago

C

Yes, my trust documents are complete and up to date

Question 2 of 27

2. Do you have a formalized succession plan?

A

No plan

B

Yes, but it is a concept/idea

C

Yes, a written plan is in place

Question 3 of 27

3. Do you have a comprehensive tax strategy that represents your long-term goals and objectives upon exit?

A

No

B

Yes, but the plan is incomplete

C

Yes, completed in last two years

Question 4 of 27

4. Have you ever had a formal business valuation completed for your business?

A

No

B

Yes, within the last three years

C

Yes, within the last year

Question 5 of 27

5. Do you know how much you want to net upon the sale of your business when that time comes?

A

No

B

Yes, but not sure if is possible

C

Yes, I know the dollar amount and it is obtainable

Question 6 of 27

6. Do you have a contingency plan in case you become incapacitated?

A

No

B

Yes, but not formalized

C

Yes, plan is complete and updated ready for family and management

Question 7 of 27

7. Are your partners and /or family in agreement with your long-term plans and objectives for the business?

A

Unknown, the topic has never been discussed

B

No, there are unresolved disagreements

C

No, some disagreement but I have voting control

D

Yes, all partners/family members fully agree

Question 8 of 27

8. Do you have a strong management team in place that can execute enhancements to your current business model?

A

No experienced management team in place

B

Yes, but there are gaps in management

C

Yes, team capable of executing at a high level

Question 9 of 27

9. Does your business have customer concentration?

A

Top 5 customers over 50% of sales

B

Top 5 customers 20-50% of sales

C

Top 5 customers 10-20% of sales

D

Top 5 customers under 10% of sales

Question 10 of 27

10. Do you currently have a formalized strategic business plan in place ?

A

No plan or budget in place

B

No, only have an annual budget

C

Yes, but is incomplete or not updated

D

Yes, complete an updated over past 2 years

Question 11 of 27

11. Are your products, services threatened by obsolescence, global competition, or disruptions in manufacturing?

A

Yes, product obsolescence

B

Yes, global competition but no obsolescence

C

No product obsolescence or global competition

Question 12 of 27

12. Is your key equipment up to date and in good working condition?

A

No, need significant capital expenditure

B

Need minor expenditures to replace or update

C

Currently, equipment is in good working order

Question 13 of 27

13. Are your offices or buildings adequate to serve the needs of the business over the next 3 to 5 years?

A

No, the business needs additional space now

B

Yes, but additional space will be needed in the next several years

C

Yes, our office and/or building(s) are adequate

Question 14 of 27

14. Is your industry/market growing or declining?

A

Declining

B

Flat market

C

1-3% growth per year

D

4-9% per year

E

10% or more growth per year

Question 15 of 27

15. How competitive is your marketplace?

A

Very competitive

B

Somewhat competitive

C

Few competitors

Question 16 of 27

16. Do you have significant market share or a protected niche?

A

Small market share and/or no protected niche

B

Small market share but a protected niche

C

Significant market share but no protected niche

D

Significant market share and protected niche

Question 17 of 27

17. Are your profit margins in line with industry averages?

A

No, margins are significantly below the industry standards

B

No, margins are somewhat below industry standards

C

Yes, margins are in line with industry standards

D

Yes, margins are better than the industry

Question 18 of 27

18. Does the company have a consistent record of sales and profit growth?

A

Sales and profit growth flat or down

B

Sales growth up but profit growth flat or down

C

Sales growth flat or down but profit growth up

D

Growth record has been consistently positive

Question 19 of 27

19. Is part or all of the company's business seasonal?

A

Company is very seasonal

B

Minor seasonality

C

No seasonality

Question 20 of 27

20. What was the company's pre-tax profit in 2020?

A

Less than $1 million

B

$2 million to $5 million

C

$5 million to $10 million

D

$10 million to $20 million

E

Above $20 million

Question 21 of 27

21. Are your past fiscal year financials audited?

A

No, financial statements generated internally by Quickbooks or other accounting software

B

No, financial statements are compiled

C

No, financial statement are reviewed

D

Yes, financial statements are audited

Question 22 of 27

22. Do you currently have a formal advisory board?

A

No

B

I have been thinking about implementing but have not to date

C

I meet regularly with my accountant

D

I meet regularly with my peer to peer forum

E

Yes, I have a formal advisory board and meet at minimum quarterly

Question 23 of 27

23. Are you interested in a consult to review your assessment?

A

No

B

Yes

Submit Your Information To Complete Assessment

Thank you for taking the first step to unlocking value in your business!

 

This information is to ensure our team can identify your assessment and incorporate your answers into your free consult. 

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Question 27 of 27

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