Stage 1 | Goal Setting -- Is there a plan in place enumerating your exact retirement goals? What will it take - in cash - to reach them? |
Stage 2 | Valuation -- Do you know how much cash your business is worth today? |
Stage 3 | Have you determined the best way to maximize the income stream generated by your ownership interest? |
Stage 4 | Sale to Third Party -- Could you sell your business to a third party and pay the minimum taxes? |
Stage 5 | Sale to an Insider -- Would you be able to transfer your business to family members, co-owners or employees while paying minimum taxes and enjoying maximum financial security? |
Stage 6 | Contingency Planning -- Do you have a continuity plan for your business if the unexpected happens to you? |
Stage 7 | Financial Independence -- Do you have a plan to secure financial independence for your family after the sale? |