entrepreneurship Archives - Your ExitMap

The Exit Planning Fallacy – A Business Owner’s Perspective

John F. Dini — Mon, 15 Sep 2025 16:59:40 +0000

One of the most common sales pitches you might hear from someone claiming to help you “enhance value” goes something like this: “I’ve reviewed your company and believe it’s worth $4.2 million today. With the right planning, it could be worth $7.7 million. Would you rather exit with $4.2 million or $7.7 million?” That’s not really a question—it’s a setup. Of course, no business owner would willingly choose the smaller number. But the real issue isn’t which number you prefer. It’s what it actually takes to bridge that gap—and whether you’re being given a full picture. Are You Falling for the Planning Fallacy? There’s a ... Read more

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Build a Successful Business Exit Plan by Using a Planning Process

Steven Zeller — Thu, 20 Mar 2025 16:32:13 +0000

As a business owner, planning the exit from ownership of your business is probably the single most important decision you will make. When to exit, how much to walk away with, who to sell it to, what’s the most tax efficient strategy in your circumstance, what timeline is most suitable, and what are the areas of business that need to be improved upon to make it marketable, etc.? Those are just some of the things that need to be considered.

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Purpose – Life After the Sale Part 3

John F. Dini — Fri, 03 Jan 2025 15:03:10 +0000

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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Private Equity and Privately Held Businesses

John F. Dini — Mon, 28 Oct 2024 15:22:17 +0000

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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Personal Vision – Life After the Sale Part 2

John F. Dini — Mon, 26 Feb 2024 16:24:53 +0000

In our last article about life after the sale we discussed identity. Even when business owners are comfortable with who they are, however, there is still the nuts and bolts issue of activity.

A business owner spends 20, 30, or (not uncommonly with Boomers,) 40 years focused on running a business. Unless they’ve built a substantial organization that is run by employees, it likely remains their biggest single time commitment right up until they leave. That commitment is frequently a lot more than 40 hours.

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Personal Vision – Life After the Sale Part I

John F. Dini — Tue, 30 Jan 2024 16:09:13 +0000

Life after the sale is often both the most important and most neglected factor in exit planning. Although (according to two different surveys in 2013 and 2022,) 75% of owners report regrets or unhappiness a year after the transition, exit plans continue to be constructed primarily around financial targets. In the event you haven’t heard this since you were five years old, “Money doesn’t fix everything.” Superficial Planning To be fair, most advisors include some conversation about “life after” in their planning conversations. Unfortunately, they are often satisfied with the features associated with an abundance of free time. Visiting the family, RV’ing through the country, ... Read more

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“Work From Anywhere” Comes Full Circle

John F. Dini — Wed, 15 Mar 2023 15:00:41 +0000

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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The Dismal Ds and Exit Planning

John F. Dini — Tue, 10 Nov 2020 19:40:36 +0000

The “Dismal Ds” is an inside joke in exit planning. Every industry and profession has them. In some, it’s “You can have it done well, done fast, or done cheaply. Pick any two.” In planning it’s “Sooner or later, every owner exits his or her business… 100% guaranteed.” Clearly, that refers to the unplanned but inevitable departure from the biggest D – Death. That isn’t the only D, however. There are others, NONE of which lead to a controlled, lucrative, or enjoyable transition. Most start with dis- defined as “dis– 1. a Latin prefix meaning “apart,” “asunder,” “away,” “utterly,” or having a privative, negative, or reversing force.” ... Read more

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When Kids Don’t Cut It

John F. Dini — Wed, 23 Sep 2020 05:28:26 +0000

Many owners want to see their children inherit the business, but what happens when the kids don’t cut it? Some years ago I worked with a business owner whose exit plan was to sell into one of the private equity roll-ups that were active in his industry. His son was finishing college, where he studied for a career in wildlife management. The son’s ambition was to spend his life in the great outdoors. One day my client was beaming when I walked into his office. “Guess what?” he said. “My son called. He wants to take over my business!” After a few minutes, it was ... Read more

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Succession Planning or Exit Planning? Small Business Owners Need Both!

Pat Ennis — Wed, 22 Jul 2020 14:04:38 +0000

One of the questions we often hear from business owners is, “What is the difference between Succession Planning and Exit Planning? Aren’t they the same thing?” Surprisingly, they are not. The next question usually is, “Which one do I need?” The answer is simple. Whether the business is small or large, family-owned or not, astute business owners always need both. Nearly $10 trillion dollars in business assets will be transferred globally in the next decade, according to Forbes Magazine. Baby Boomers selling privately owned businesses or transferring them to family members will comprise much of that $10 trillion dollar transfer. As the market becomes crowded ... Read more

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Your Exit Plan: The 3 Inarguable Reasons to Start NOW

John F. Dini — Sun, 14 Jun 2020 01:00:38 +0000

What is Your Exit Plan? If you’ve ever done a business plan for the purpose of raising capital, one of the key questions is “What is your exit plan?” Many business owners think that question is self-serving, intended merely to let the venture capitalists figure when and how they will get their return on investment. In truth, however, that question is far more important. An exit plan is a strategic plan with an end date. Putting a time frame on your plan, and defining the goals to be achieved by that date, creates a future-focused mindset for the owner. It controls and reduces your tendency ... Read more

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EBITDAC : What is Your Business Worth Now?

John F. Dini — Mon, 20 Apr 2020 17:14:50 +0000

Several friends have sent me a picture of an EBITDAC coffee mug this week. As it states, EBITDAC stands for Earnings Before Interest, Taxes, Depreciation, Amortization and Coronavirus. Will this be the new measure of cash flow for valuing your business? A bleak joke, but one that is on the minds of many business owners, especially Baby Boomers in their late 50s and 60s. Many were postponing their exit planning because business has been so good. As one client told me, “In March we had the best year in the history of my company. It looks like April might be the worst.” Downturns aren’t new, ... Read more

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