Comments for Pinnacle Equity Solutions - Exit Planning http://pinnacleequitysolutions.com/blog Business Exit Planning - Exit Strategies Training and Solutions Thu, 08 Sep 2011 15:10:02 +0000 hourly 1 http://wordpress.org/?v=3.0.4 Comment on Objectivity is ‘core’ to Exit Planning by Josh Patrick http://pinnacleequitysolutions.com/blog/?p=71#comment-278 Josh Patrick Thu, 08 Sep 2011 15:10:02 +0000 http://pinnacleequitysolutions.com/blog/?p=71#comment-278 I'm glad to see that you talked about exit planning being a process and not a destination. I agree that exit planning is not a marketing opportunity. It's a process that breathes and changes as the business owners circumstance changes. In the case above, I might have encouraged the owner to get an ESOP feasibility study. This step would help the owner not only understand what an ESOP is, but if an ESOP is right for them. My role as an exit planner would be to make sure the owner stayed neutral on the idea of the ESOP until he had fully investigated the opportunity and understood both the positive and negative aspects of the opportunity. For those who are worried about exit planning getting in the way of their "specialty", they should think about exit planning as separate profit center in their business. If you're a wealth manager, it's not about getting assets under management. The relationship is about helping the business owner make choices that will help he or she move towards their ultimate goals. It's the movement towards those goals that is what exit planning should be about. As always John, a thought provoking post. Thanks so much. Josh Patrick www.stage2planning.com/blog I’m glad to see that you talked about exit planning being a process and not a destination.

I agree that exit planning is not a marketing opportunity. It’s a process that breathes and changes as the business owners circumstance changes. In the case above, I might have encouraged the owner to get an ESOP feasibility study. This step would help the owner not only understand what an ESOP is, but if an ESOP is right for them.

My role as an exit planner would be to make sure the owner stayed neutral on the idea of the ESOP until he had fully investigated the opportunity and understood both the positive and negative aspects of the opportunity.

For those who are worried about exit planning getting in the way of their “specialty”, they should think about exit planning as separate profit center in their business. If you’re a wealth manager, it’s not about getting assets under management. The relationship is about helping the business owner make choices that will help he or she move towards their ultimate goals. It’s the movement towards those goals that is what exit planning should be about.

As always John, a thought provoking post. Thanks so much.

Josh Patrick
http://www.stage2planning.com/blog

]]> Comment on Creativity is ‘Core’ to an Exit Planning Engagement by Josh Patrick http://pinnacleequitysolutions.com/blog/?p=67#comment-196 Josh Patrick Sat, 06 Aug 2011 14:33:03 +0000 http://pinnacleequitysolutions.com/blog/?p=67#comment-196 This is a great column on creativity. I totally agree that when you're talking about exit planning, you need to get people out of expectations and what they've heard as "normal" expectations that lead to an exit. I find that often a move to passive ownership as part of a move towards exiting a business is a good thing. If an owner is successful at becoming a passive owner, they have more options when it actually becomes time to leave their business. I also think we need to re-think the age that owners will exit their business. Ten years ago I would have thought most owners would be out of their business by the time they're 60 years old. Today, I think the age many owners will exit is close to 70. For these owners to do this, they'll have to work on business relationship management and what that means both for the business and themselves. John, as always a great and thoughtful post. Thanks so much. Josh Patrick www.stage2planning.com/blog This is a great column on creativity. I totally agree that when you’re talking about exit planning, you need to get people out of expectations and what they’ve heard as “normal” expectations that lead to an exit.

I find that often a move to passive ownership as part of a move towards exiting a business is a good thing. If an owner is successful at becoming a passive owner, they have more options when it actually becomes time to leave their business.

I also think we need to re-think the age that owners will exit their business. Ten years ago I would have thought most owners would be out of their business by the time they’re 60 years old. Today, I think the age many owners will exit is close to 70. For these owners to do this, they’ll have to work on business relationship management and what that means both for the business and themselves.

John, as always a great and thoughtful post. Thanks so much.

Josh Patrick
http://www.stage2planning.com/blog

]]> Comment on Exit Planning Credibility by Josh Patrick http://pinnacleequitysolutions.com/blog/?p=58#comment-110 Josh Patrick Thu, 26 May 2011 21:25:52 +0000 http://pinnacleequitysolutions.com/blog/?p=58#comment-110 John, This is a great post on what exit planning is and who is a real advisor in the marketplace. I would add one thing is that I would ask someone who holds themselves out as an exit planner, what sort of continued and continuous learning they are doing around the entire subject of exit planning. Josh Patrick www.stage2planning.com/blog John,

This is a great post on what exit planning is and who is a real advisor in the marketplace. I would add one thing is that I would ask someone who holds themselves out as an exit planner, what sort of continued and continuous learning they are doing around the entire subject of exit planning.

Josh Patrick
http://www.stage2planning.com/blog

]]> Comment on But I Already Do Exit Planning by Doug Wurmnest http://pinnacleequitysolutions.com/blog/?p=43#comment-78 Doug Wurmnest Mon, 02 May 2011 01:48:17 +0000 http://pinnacleequitysolutions.com/blog/?p=43#comment-78 John, your comments are exactly what business owners and service providers need to hear. Too often, the sale/transfer of the business is started long before there's a plan in place. In can be very costly in terms of net proceeds to the owner, but more importantly, there are usually unmet goals and the owner is unhappy. Thanks for working tirelessly to get this industry moving forward. John, your comments are exactly what business owners and service providers need to hear. Too often, the sale/transfer of the business is started long before there’s a plan in place. In can be very costly in terms of net proceeds to the owner, but more importantly, there are usually unmet goals and the owner is unhappy. Thanks for working tirelessly to get this industry moving forward.

]]> Comment on But I Already Do Exit Planning by Larry Hause http://pinnacleequitysolutions.com/blog/?p=43#comment-77 Larry Hause Mon, 02 May 2011 00:50:40 +0000 http://pinnacleequitysolutions.com/blog/?p=43#comment-77 Nice article on what exit planning is not and what it is. Nice article on what exit planning is not and what it is.

]]> Comment on But I Already Do Exit Planning by Paul Cronin http://pinnacleequitysolutions.com/blog/?p=43#comment-75 Paul Cronin Wed, 27 Apr 2011 22:06:51 +0000 http://pinnacleequitysolutions.com/blog/?p=43#comment-75 I passed this article along to my network of accountants, attorneys, estate planners, wealth managers, insurance brokers and a few business owners. I received more responses to this article than to any in the past. To a person, everyone was thankful for the article, stated the article was excellent and agreed with the point it made. Great job John, thanks. I passed this article along to my network of accountants, attorneys, estate planners, wealth managers, insurance brokers and a few business owners. I received more responses to this article than to any in the past. To a person, everyone was thankful for the article, stated the article was excellent and agreed with the point it made. Great job John, thanks.

]]> Comment on But I Already Do Exit Planning by Cliff Campeau http://pinnacleequitysolutions.com/blog/?p=43#comment-67 Cliff Campeau Mon, 25 Apr 2011 15:29:50 +0000 http://pinnacleequitysolutions.com/blog/?p=43#comment-67 Excellent article on the exit planning process and the holistic approach taken by transition advisors on behalf of the business seller. Cliff Campeau http://www.evolutionizemypractice.com/about-us/blog Excellent article on the exit planning process and the holistic approach taken by transition advisors on behalf of the business seller.

Cliff Campeau
http://www.evolutionizemypractice.com/about-us/blog

]]> Comment on But I Already Do Exit Planning by Josh Patrick http://pinnacleequitysolutions.com/blog/?p=43#comment-62 Josh Patrick Sun, 24 Apr 2011 12:18:53 +0000 http://pinnacleequitysolutions.com/blog/?p=43#comment-62 John, This is one of the best and most concise explanations I've seen on what exit planning is. Thanks for the post. Josh Patrick www.stage2solution.com/blog John,

This is one of the best and most concise explanations I’ve seen on what exit planning is. Thanks for the post.

Josh Patrick
http://www.stage2solution.com/blog

]]> Comment on Exit Planning for Advisors to “Wealth” by garage storage systems http://pinnacleequitysolutions.com/blog/?p=35#comment-19 garage storage systems Tue, 08 Mar 2011 04:51:12 +0000 http://pinnacleequitysolutions.com/blog/?p=35#comment-19 You found your niche. Great Article You found your niche. Great Article

]]> Comment on Exit Planning – Should You Give Stock to Your Managers as Part of Your Exit Plan? by SearaVash http://pinnacleequitysolutions.com/blog/?p=22#comment-17 SearaVash Wed, 02 Mar 2011 22:52:35 +0000 http://pinnacleequitysolutions.com/blog/?p=22#comment-17 A business absolutely devoted to service will have only one worry about profits. They will be embarrassingly large. A business absolutely devoted to service will have only one worry about profits. They will be embarrassingly large.

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