In this five-part podcast series, we’re hosting exit planning expert Mike Trabert to discuss the five stages of a value maturity cycle that will help position your business for a successful transition. A partner at Skoda Minotti, Mike leads the firm’s Value Acceleration & Exit Planning and Transaction Advisory Services groups. He is a certified valuation analyst and the author of new e-book The 5 Stages of Value Maturity.
Over the next few months, we will cover each of these five stages in a value maturity cycle:
Now that you’ve identified the actual value of your business, proactively taken steps to protect that value and developed a strategic plan for continuing to build value over the long run, it’s time to move onto stage four of the value maturity cycle – harvesting value.
At this point in the process, your small business should be primed and ready for the transition of ownership. In order to achieve this, you will need to identify the succession option by which you will transition your business, position that option in a way you see most appropriate and then harvest your desired value.
On a basic level, transition options are categorized as either internal or external:
When considering your transition options, it’s important to take time to consider their respective pros and cons and weigh each option against your business, financial and personal goals before determining which route is the best fit.
To learn more, listen to this week’s podcast with exit planning expert Mike Trabert!
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