0336 - Building an Exit Strategy for your Business
Course Description
Have you started planning for the eventual exit of your business? Planning should begin years in advance. Having a defined strategy can help you build a more valuable company, have stronger personal financial plans and ensure it aligns with your personal goals. This workshop is designed to give business owners a knowledge base, vocabulary and an understanding of the process to create a thorough exit strategy. Whether you plan to transfer ownership to family members, sell your business or close your business, this workshop is designed to build a foundation of understanding for the eventual transfer of a business owners’ biggest asset – their privately held business. Key concepts include: business valuation, determining the right exit strategy, 3 things you can do to add value to your business to get ready for a sale, and getting your business ready for transition after a sale.
Learner Outcomes
- Understand business valuation - what is your company worth?
- Define goodwill and know how it affects the sale
- Identify the various ways of exiting your business
- Navigate the sales process
- Identify a team of professionals to help sell my business
- Prepare your business for sale
Daniel McCoy, a Senior Business Consultant at the UGA Small Business Development Center, Kennesaw State University, leverages over two decades of banking expertise, specializing in Commercial/SBA lending and financial advisory. With a solid foundation built over 10+ years in upper management in retail, Daniel seamlessly blends strategic acumen with operational finesse. His proficiency extends to human resources, grant research and government contracting, Daniel holds a BA degree from Covenant College and an MBA in Accounting from Benedictine University and is a SHRM Certified Professional and member in the National Society of Leadership and Success.