"A GOAL without a plan is just a WISH” is a very popular saying that has been printed in numerous books and posters over the years and is often cited by motivational speakers. The saying has been credited to French author Antoine de Saint Exupéry (1900-1944), but no one knows for sure its origin.
If you are a business owner or if you are otherwise connected to a business owned by others, you are likely familiar with the “strategic planning process” that begins with establishing one’s Vision, Mission and Objectives and ends with the development of Strategies, Tactics and Plans. As Chief Financial Officer and General Counsel for two privately owned companies whose ownership transitioned their shares to others as part of their strategic exit plan, Clinton Wealth Management’s Founder, Robert M. Clinton, knows firsthand the importance of planning this final chapter in your business life.
You have worked hard to develop and grow the value of either your own ownership interest or of the strategic position you have established in business and now you may be challenged to permanently capture that value for you and your family’s future benefit. A properly developed value-capturing plan needs to consider:
- If you are a business owner, will you capture your value with an external sale, an internal sale or a family transition?
- How are you currently structured? Is it optimal or should you do some pre-exit structural changes to your firm?
- Are there aspects of your business that cannot be transitioned to others?
- Are you an executive with a business that needs to plan his or her retirement in a way that optimally captures the value of what you have built up at your company?
- What is the best tax strategy to employ for your exit?
- Have you engaged appropriate outside legal and tax counsel?