What every business owner should know:
- The average business owner has 80%-90% of his net worth locked inside his business.
- There are about 6 million privately held employer companies in the U.S. today. Most are owned by Baby Boomers and about 76% will transition ownership in the next 10 years.
- 80% of companies with less than $50M in annual sales never sell. About 98% of companies under $5M can’t be sold.
- Only 30% of family-owned businesses survive into the 2nd generation.
- High probability of being hit by one of the Five D’s (Death, Disability, Divorce, Distress, Disagreement) before your desired transition date.
These statistics seem pretty bleak, BUT THERE IS HOPE.
- The Exit Planning Institute (EPI) is the premier provider of education, networking, professional development and tools to multidiscipline exit planning professionals. EPI is dedicated to CHANGE THE OUTCOME for business owners.
- Certified Exit Planning Advisors (CEPA) are trained and credentialed by EPI. CEPA come from many disciplines: CPA, Wealth Manager, Attorney, Management Consultant, M&A Professional, Insurance Advisor, etc.
- CEPAs use the Value Acceleration Methodology, based on the concept of Master Planning, to maximize the value of your business while ensuring that all personal, financial, tax, and legal issues have been addressed.
- Value Advisor is a key role that a CEPA plays acting as “quarterback” for your team of advisors. Even with more than one CEPA on your team, only one will act as the Value Advisor.
- CEPA are rare. There are only 600 on the planet, about 12 in the DC Metro area.
What you should do if you own a business:
- Educate yourself about the Value Acceleration Methodology and Master Planning.
- Attend an EPI sponsored event in your area.
- Go beyond what the world expects by being proactive about building the value of your business so that, whenever and however you transition from ownership, you and your family will be able to benefit from the wealth that you have created through your years of hard work and sacrifice.
Contact us at Go Beyond LLC to learn more