business planning Archives - Your ExitMap https://yourexitmap.com/tag/business-planning/ Free Exit Planning Tools for Business Owners Mon, 03 Mar 2025 14:16:15 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://yourexitmap.com/wp-content/uploads/2026/03/cropped-Site-Icon-YEM-2-32x32.png business planning Archives - Your ExitMap https://yourexitmap.com/tag/business-planning/ 32 32 122889523 Cash Flow Normalization https://yourexitmap.com/cash-flow-normalization/ https://yourexitmap.com/cash-flow-normalization/#respond Thu, 20 Feb 2025 17:16:00 +0000 https://yourexitmap.com/?p=9587 Cash flow normalization is done with the intention of identifying Earnings Before Interest Taxes Depreciation and Amortization (EBITDA) or Seller’s Discretionary Earnings (SDE). These differing measures are not interchangeable, but are used by different classes of buyers for different categories of acquisition.

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]]> https://yourexitmap.com/cash-flow-normalization/feed/ 0 9587 Purpose – Life After the Sale Part 3 https://yourexitmap.com/purpose-life-after-the-sale-part-3/ https://yourexitmap.com/purpose-life-after-the-sale-part-3/#respond Fri, 03 Jan 2025 15:03:10 +0000 https://yourexitmap.com/?p=9766 The third component of life after the sale is Purpose – “Having as one’s intention or objective.” Many exit planning advisors discuss the three legs of the exit planning stool – business readiness, financial readiness, and personal readiness. In our previous two articles, we focused on two of the “big three” components of a successful life after the sale, activity and identity. The third is purpose.

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]]> https://yourexitmap.com/purpose-life-after-the-sale-part-3/feed/ 0 9766 Private Equity and Privately Held Businesses https://yourexitmap.com/private-equity-and-privately-held-businesses/ https://yourexitmap.com/private-equity-and-privately-held-businesses/#respond Mon, 28 Oct 2024 15:22:17 +0000 https://yourexitmap.com/?p=9563 Depending on who you are talking to, Private Equity is either the Great Satan or the savior of small and mid-market companies in the United States. The stories depend a lot on the personal experience of the speakers.

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]]> https://yourexitmap.com/private-equity-and-privately-held-businesses/feed/ 0 9563 My Interview with Jerry West on Management https://yourexitmap.com/my-interview-with-jerry-west-on-management/ https://yourexitmap.com/my-interview-with-jerry-west-on-management/#comments Thu, 29 Aug 2024 13:20:16 +0000 https://yourexitmap.com/?p=9329 I once had the thrill of interviewing Jerry West on management. He was “The Logo” for the NBA, although back then they didn’t advertise him as such. Only the Laker followers knew for sure.

Jerry WestIn 1989 the “Showtime” Lakers were coming off back-to-back championships. Pat Riley was a year away from his first of three Coach of the Year awards. Jerry was the GM. Many people don’t know this, but starting when Jerry West was drafted in 1960 until he stepped out of the GM role in 2002, the Lakers only missed the playoffs twice. Those seasons (74-75 and 75-76) were the only two seasons out of 42 that West was not on the Laker payroll.

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]]> https://yourexitmap.com/my-interview-with-jerry-west-on-management/feed/ 1 9329 Are You Financially Ready to Exit Your Business Even if it Happened Tomorrow? https://yourexitmap.com/are-you-financially-ready-to-exit-your-business-even-if-it-happened-tomorrow/ https://yourexitmap.com/are-you-financially-ready-to-exit-your-business-even-if-it-happened-tomorrow/#respond Tue, 23 Jul 2024 16:09:50 +0000 https://yourexitmap.com/?p=9216 Exiting a business is a significant decision that requires careful consideration, particularly regarding financial readiness. Whether you’re considering retirement, pursuing new ventures, or simply ready to move on, being financially prepared is crucial for a smooth transition.

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]]> https://yourexitmap.com/are-you-financially-ready-to-exit-your-business-even-if-it-happened-tomorrow/feed/ 0 9216 The House of Gucci Succession Plan https://yourexitmap.com/the-house-of-gucci-succession-plan/ https://yourexitmap.com/the-house-of-gucci-succession-plan/#respond Thu, 04 Apr 2024 17:14:47 +0000 https://yourexitmap.com/?p=8872 The Gucci brand started with two brothers who own the family business equally. Each brother had a son, and each son was to inherit the empire. One of the sons was a ne’er-do-well, who always attracted and found trouble. Despite nobody ever giving him a chance, the viewer could tell his successor ownership was doomed. The other son married the woman who was played by Lady Gaga. The story progresses through time as one of the fathers die and the other goes to jail while the wife rises to power and greed. To complicate the succession plan, lavish lifestyles, poor business decisions, children and divorce ensue.

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]]> https://yourexitmap.com/the-house-of-gucci-succession-plan/feed/ 0 8872 Is there an AI role in Exit Planning? https://yourexitmap.com/is-there-an-ai-role-in-exit-planning/ https://yourexitmap.com/is-there-an-ai-role-in-exit-planning/#respond Fri, 25 Aug 2023 13:51:13 +0000 https://yourexitmap.com/?p=8189   The media is packed with stories about Artificial Intelligence. According to the stories, because a smart search engine (which is essentially what a Learning Language Model [LLM] is) can pass a Bar exam, it threatens all kinds of white-collar careers. And in case you were wondering, no – I’m not writing this on ChapGPT. That “surprise” trope has been so overdone on every local television station that I hope I never see it again. Also, if you thought this column would be about how to write letters, proposals, and social media posts using AI, you’ll have to look elsewhere. At ExitMap® we launched our ... Read more

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]]> https://yourexitmap.com/is-there-an-ai-role-in-exit-planning/feed/ 0 8189 The Role of a Coach in Exit Planning https://yourexitmap.com/the-role-of-a-coach-in-exit-planning/ https://yourexitmap.com/the-role-of-a-coach-in-exit-planning/#respond Tue, 23 May 2023 15:55:34 +0000 https://yourexitmap.com/?p=7976 Defining the role of a coach on your exit planning team doesn’t just happen. Like any other aspect of working with consultants, you need to set expectations upfront. Many advisors like to characterize themselves as the “quarterback” of a transition planning team. I’ve always objected to that. We regard the business owner as the quarterback of the planning process. After all, the coach never gets sacked by a 300-pound defensive lineman. The advisor may want to win every bit as much as the business owner, but it’s the owner who actually has skin in the game. A Coach’s Responsibilities It’s one thing to say that ... Read more

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]]> https://yourexitmap.com/the-role-of-a-coach-in-exit-planning/feed/ 0 7976 Impressions of Value in Exit Planning https://yourexitmap.com/impressions-of-value-in-exit-planning/ https://yourexitmap.com/impressions-of-value-in-exit-planning/#respond Tue, 18 Apr 2023 13:24:16 +0000 https://yourexitmap.com/?p=7880 Business owners, advisors, and buyers frequently have widely different impressions of value when it comes to a business. The Pepperdine Private Capital Markets Survey canvasses intermediaries who sell privately held Main Street and mid-market companies. One question is about the obstacles that prevented the sale of a business. The number one response is “Owners’ unreasonable expectations of value.” That may be self-serving or an excuse. Nonetheless, valuation is a sensitive subject. Many owners have worked in the business for 30 or 40 years. They assume it will fund their next 20 years of retirement. Their target price is set only by their desired lifestyle after ... Read more

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]]> https://yourexitmap.com/impressions-of-value-in-exit-planning/feed/ 0 7880 “Work From Anywhere” Comes Full Circle https://yourexitmap.com/work-from-anywhere-comes-full-circle/ https://yourexitmap.com/work-from-anywhere-comes-full-circle/#respond Wed, 15 Mar 2023 15:00:41 +0000 https://yourexitmap.com/?p=7755 Work from anywhere has been a necessity, an epithet, an obstacle, and an opportunity over the last 3 years. To paraphrase Aristotle’s axiom about Nature (“Horror Vacui”), business abhors a vacuum. Where one occurs, it is quickly filled. Work from anywhere started as a COVID-induced necessity. During the lockdowns of 2020-2021 (and longer in some places) we all had a crash course in video calling, VPNs, and virtual meetings. Employees quickly expanded the definition of anywhere. They tired of shunting the children off to a bedroom during conference calls, or using office-like backdrops to hide their kitchen cabinets. Soon they began changing their backgrounds to ... Read more

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]]> https://yourexitmap.com/work-from-anywhere-comes-full-circle/feed/ 0 7755 Family Succession Planning: Who Gets the Office? https://yourexitmap.com/family-succession-planning-who-gets-the-office/ https://yourexitmap.com/family-succession-planning-who-gets-the-office/#comments Thu, 09 Feb 2023 15:47:33 +0000 https://yourexitmap.com/?p=7674   Sometimes the most sensitive question in family succession planning is “Who gets the office?” Dad’s (or Mom’s) office is usually perceived as the center of authority by the employees and other family members. That is where you got called on the carpet, where you were informed of promotions, or where you took an insolvable problem. When a parent/CEO is handing off operating responsibility, there is often a lag, sometimes measured in years, between stepping back from the daily decisions and completely separating from the premises. There is great value in having that experience available for coaching, mentoring, or just to lend perspective on new ... Read more

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]]> https://yourexitmap.com/family-succession-planning-who-gets-the-office/feed/ 1 7674 Prepared for 2023 – Is This the Year to Exit? https://yourexitmap.com/prepared-for-2023-is-this-the-year-to-exit/ https://yourexitmap.com/prepared-for-2023-is-this-the-year-to-exit/#respond Wed, 04 Jan 2023 23:19:04 +0000 https://yourexitmap.com/?p=7592 What does being prepared for 2023 mean for business owners who are approaching, at, or already beyond normal retirement age? It’s become fashionable to pontificate about the “inevitable” recession in the coming year. There is an argument for not talking ourselves into making it happen. Unfortunately, there are indisputable reasons why it is going to occur regardless of whether we discuss it or not. Inflationary stimulus (including $6 trillion of ”quantitative easing”) in the US, combined with over-dependency on Russian gas supply in Europe and falling industrial production from COVID lockdowns in China have created the proverbial slow-motion car wreck for the world economy. All ... Read more

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