Exit & Succession Planning Assessment

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Your Name* This field is required.

First Name

Last Name

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Your Email* This field is required.

example@example.com

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Your Phone Number* This field is required.

Please enter a valid phone number.

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What is the name of your business?

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What is your company's website address?

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Please estimate your profit in your last fiscal year:

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Please estimate your gross sales for the last fiscal year:

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How many full-time employees do you have?

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How many regular part-time employees do you have?

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I would like to step back from the day-to-day management of my business:* This field is required.

In the next year

In 1-3 years

In 3-5 years

In more than 5 years

I already have

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I would like to walk away from my business completely:* This field is required.

In the next year

In 1-3 years

In 3-5 years

In 5-8 years

In more than 8 years

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Your Basic Information* This field is required.

Your Full Name

Your Best Phone Number

Your Email Address

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My decision-making team consists of:* This field is required.

Only me

Several supervisors

Managers in key areas

Independent decision-makers running all areas of the business

Executives developing all the strategies as guided by my vision

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My plan for the eventual transfer of my company is:* This field is required.

I'm not really sure

To close down completely when I am ready to leave

To transfer ownership to a family member or maybe an employee

To put it up for sale to a third party

I already have an agreement with a qualified buyer

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I know what the post-tax proceeds of exiting need to be because:* This field is required.

I have a general idea of how much I’ll need and am confident it will be enough

I have calculated my future income from my current assets combined with the proceeds from the sale of my company.

I’ve calculated my future income needs including lifestyle, life expectancy and inflation assumptions.

I have had a Certified Financial Planner calculate the needs including lifestyle, life expectancy and inflation assumptions.

I have a professional projection of future needs, and have compared them to my business valuation and projected tax liabilities.

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I know my company's current market value because:* This field is required.

I have no idea what the value of my business is

I have a figure in mind that I need to retire and I know it is worth at least that

I've talked to other people who sold their companies and know what companies like mine should sell for

My accountant or financial planner researched comparative sales

I have a certified valuation of the business

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I will handle the taxes on the transfer of my business by:* This field is required.

I haven't looked at the tax implications

I plan to just add the tax burden to my target net price

I assume I'll just pay capital gains tax

I assume I'll just pay ordinary income tax

I've had a CPA analyze the tax consequences of a sale

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I think the most likely buyer for my business is:* This field is required.

I don't know

Another entrepreneur or a competitor

Family members already engaged in the business

Partners or employees who currently manage the business

A clearly identified strategic buyer

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The diversification of our revenues by customer is:* This field is required.

Not really diversified. 50% or more comes from one customer

Somewhat diversified with a few customers who account for most of our business

In line with the Pareto Principle: 80% of our business is from 20% of our customers

Fairly diversified. No one customer accounts for more than 10% of our business

Very diversified. No one customer accounts for more than 5% of our business

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Most of my customers:* This field is required.

Are driven by price and will buy from whomever makes the best deal

Appreciate service, but focus on cost

Return year after year and increase their spending

Are committed to long-term, written purchase contracts

Can get what they need only from my company

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Your Company * This field is required.

Company Name

Company Website Address

Number of Full Time Employees

Number of Part Time Employees

Profit in the last fiscal year

Gross Sales in the last fiscal year

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My key employees are:* This field is required.

Irreplaceable. They have unique skills vital to our survival

Employed at will, under verbal understandings

Employed with written agreements and incentives

Employed under non-compete and confidentiality agreements

Employed with long-term incentives that vest and accrue if the business is successful

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The plan for the business in the event of my death or disability is:* This field is required.

I don't know

My partners, employees, or family will have to take it over

To sell it as quickly as possible or shut it down

I have a mutual management agreement with a colleague or competitor to take over in my absence

We have a plan to bring in experienced interim management with full instructions on a transition

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The documentation of our systems and processes for operations, human resources, and administrative functions are:* This field is required.

Mostly verbal

Written, but bear little resemblance to what we actually do

Written, but somewhat out-of-date

Fully documented, but not always followed on a day-to-day basis

Fully documented, updated and required to be followed in all areas

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Our revenues are:* This field is required.

Declining for three years or more

Up-and-down from year-to-year

Flat for three years or more

Growing slightly over the last three years

Growing strongly over the last three years

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Our profit margins are:* This field is required.

Declining for three years or more

Up-and-down from year-to-year

Flat for three years or more

Growing slightly over the last three years

Growing strongly over the last three years

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Our financial performance against industry (NAICS or SIC Code) Standards are:* This field is required.

I don't know

Bottom quartile

About average

Top quartile

Top 10%

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In the event of my sudden absence from the business, my documented contingency plan for operations includes:* This field is required.

We do not have a documented contingency plan

A documented list of responsibilities that my mangers can handle

A documented succession plan for managers with written retention incentives for key staff

Documented succession and retention plans, plus instructions for governance and continuation of family income

Complete contingency planning, including insurance to retire debt and fund working capital

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Are employee goals and reviews aligned with the company's mission, vision and values?* This field is required.

We do not have formal employee goals or performance reviews

We do formal employee reviews and set goals but we don't have a clear company mission or vision

We have employee goals and reviews, but they are not necessarily developed around our mission or vision

We have employee goals and reviews, developed around our main mission or vision

All employee development and incentives are aligned with specific short and long term company objectives

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How dependent is the business credit on your personal guarantees?* This field is required.

I personally guarantee all business debt

I have guarantees on some, but not all, business debt

I guarantee real property, but do not have personal guarantees on leases or credit lines

The business has no debt

The business can incur any necessary debt without the need for personal guarantees

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Our Technology Policy is to:* This field is required.

Replace things when they fail

Purchase upgrades when support is discontinued by the vendor

Upgrade as the need arises, or for clear improvements in productivity

Budget and implement upgrades on a planned defined schedule

Stay near the leading edge, constantly seeking the next improvement

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After I leave my company, I am planning to:* This field is required.

I don't know

Do something or nothing. Just take it day by day!

Take up a hobby or work for a non-profit

Get a job

Pursue my life's passion

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