Christine Trumbull is a CPA and Quickbooks certified pro advisor and the founder of Pinnacle CFO Services. 28 years of experience in financial and business management have led her to her current role: ensuring seamless transitions for founders and their families.
A trusted resource for family-owned and closely held businesses looking to take their company to higher places.
It’s interesting how many times what I do is confused with a Business Broker. People hear Exit Planner and they assume I help them sell their business. Well, I do and I don’t. In this 4 minute video, I break down exactly what Exit Planning is and why it’s vital to your successful transition out of year business.
Exit Planning is the holistic approach to designing a business-exit strategy that provides you maximum value for your life’s work. It encompasses setting Exit Objectives (When do you want to leave? How much money do you need from your business exit? To whom will you sell the business?);
We create an Advisor Team made up of trusted, professional advisors (CPA, attorney, financial advisor, etc.); and we are documenting each aspect of the transition sequence.
Your Exit Planning Advisor gathers information, assembles the Exit Planning Team, and offers a set of Exit Planning Recommendations. The Exit Planning Advisor oversees how your Exit Plan is built, much like a general contractor would coordinate the construction of an office building.
• A written document that can be reviewed and modified as your circumstances change.
• A comprehensive list of Recommendations that are personalized to your unique situation.
• And a plan that is centered on your wants and needs.
This written document lists specific steps, in the form of Recommendations, that you should take to exit your business in the most efficient and risk-free manner possible. The Plan is the culmination of an intensive discovery process, which includes learning your goals and objectives, thoroughly valuating your business, increasing the value of your business, and performing an in-depth review (and/or redesign) of any existing estate plans.
Then we take this output and refined and customized to your needs, wants, and wishes.
• Giving you peace of mind, because you’ll know that virtually every issue regarding your exit has been examined and addressed.
• Position your business for transfer, even in a poor market.
• Shelter you from risks involved in a business sale to a third party or a transfer to an insider.
• Lets you keep complete control over your ownership until you are satisfied that all aspects have been addressed to your liking.
Exit Planning is a proven method of allowing business owners like you to exit their businesses on their terms. I hope this has been helpful to you.