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Category Name: Urgency
Category Name: Personal
Category Name: Financial
Category Name: Business
1%
As Soon As Possible
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Add RecommendationAdd TagsView All Assigned TagsWithin One Year
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Add RecommendationAdd TagsView All Assigned Tags2-3 Years
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Add RecommendationAdd TagsView All Assigned Tags3-5 Years
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I think the market for my business will begin to decline soon or the industry is in a downtrend that is not reversing.
1= Strongly Disagree ---> 6= Strongly Agree
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I am nearing retirement age and I can't see myself doing this much longer or my health situation will prevent me from continuing for more than another 3 years.
1= Strongly Disagree ---> 6= Strongly Agree
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Yes
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Add RecommendationAdd TagsView All Assigned TagsNo
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I have a written personal plan. I have written personal goals and objectives for my post-retirement years. I know what I will be doing after I transition the business. I have integrated my personal and financial plans.
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I have a written estate plan which has been reviewed within the last 3 years
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Add RecommendationAdd TagsView All Assigned TagsI have a written estate plan but it is more than 3 years old
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Add RecommendationAdd TagsView All Assigned TagsI have hired an estate planning attorney and begun the process
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Add RecommendationAdd TagsView All Assigned TagsI have not made any progress on my written estate plan
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I Have Established an Advisory Team to help with a Transition
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Add RecommendationAdd TagsView All Assigned TagsThe advisory team includes outsiders (attorney, accountant, coach, etc.)
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Add RecommendationAdd TagsView All Assigned TagsThe Advisory Team includes family members / spouse
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Add RecommendationAdd TagsView All Assigned TagsThe advisory team includes Key employees
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Add RecommendationAdd TagsView All Assigned TagsWe have met and discussed the topic of business transition / exit planning
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I have hired a personal financial planner
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Add RecommendationAdd TagsView All Assigned TagsMy financial plan is in writing and was reviewed within the last 2 years.
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Add RecommendationAdd TagsView All Assigned TagsI have had my Business Valued by a professional and am confident that I will be able to sell it for the valuation obtained
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I understand each of my exit options. I know the net after tax proceeds of a sale. I have a plan to minimize the taxes on the sale or transition of the business.
1= Strongly Disagree ---> 6= Strongly Agree
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I know my post-retirement cash flow needs. I have completed a post-transition budget.
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I will need continuing income from the business after the transition even after a sale at my expected valuation
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Add RecommendationAdd TagsView All Assigned TagsIf I sell the business for at least 80% of my expected value I will not need income from the business
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Add RecommendationAdd TagsView All Assigned TagsIf I sell the business for at least 50% of the expected value I will not need continuing income
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Add RecommendationAdd TagsView All Assigned TagsI have sufficient assets for my post-transition lifestyle without depending on the sale of the business
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I know and understand the process for selling and transitioning my business.
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I have a written contingency plan in the event I can no longer manage the business
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Add RecommendationAdd TagsView All Assigned TagsMy family and key employees know about the plan
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Add RecommendationAdd TagsView All Assigned TagsI have key employee agreements in place
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Add RecommendationAdd TagsView All Assigned TagsI have a buy/sell agreement in place which is funded appropriately by insurance
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I am knowledgeable about potential deal structures. Knowledge of pros and cons of exit options and deal structures for inside sales, outside sales, Family transitions, Private Equity, ESOP's, and restructuring
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I have a preferred deal structure
Yes
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Add RecommendationAdd TagsView All Assigned TagsNo
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ExitReady Assessment
This assessment is designed to measure your readiness, as a business owner, to sell your company and move on to your next chapter. This assessment measures your readiness along four dimensions; Personal, Financial, Business, and Urgency.
The assessment asks concrete questions to determine what stage you are in on your journey. If you have several years before you plan to transition or exit your business, the assessment will point out what direction you can proceed to plan an orderly exit someday.
You got a score of %%YOURSCORE%% out of %%TOTALSCORE%%
[CATEGORY_SPIDER_CHART]
It is urgent - sell now
[CATEGORY_TOTAL_PERCENT]
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[CATEGORY_BAR_CHART]
[QUESTION_ANSWER_DATA_CHART]
[SELECTEDANSWERS]
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%%CATEGORY_TOTAL_PERCENT%%
%%CATEGORY_TOTAL_NUMBER%%
[CATEGORY_TOTAL_PERCENT]
[CATEGORY_ONLY_PERCENT]
[CATEGORY_TOTAL_NUMBER]
ExitReady Assessment
This assessment is designed to measure your readiness, as a business owner, to sell your company and move on to your next chapter. This assessment measures your readiness along four dimensions; Personal, Financial, Business, and Urgency.
The assessment asks concrete questions to determine what stage you are in on your journey. If you have several years before you plan to transition or exit your business, the assessment will point out what direction you can proceed to plan an orderly exit someday.
You got a score of %%YOURSCORE%% out of %%TOTALSCORE%%
[CATEGORY_SPIDER_CHART]
[CATEGORY_TOTAL_PERCENT]
[CATEGORY_BAR_CHART]
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[QUESTION_ANSWER_DATA_CHART]
[SELECTEDANSWERS]
%%CATEGORY_TOTAL_PERCENT%%
%%CATEGORY_TOTAL_NUMBER%%
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