Inside the Exit: Best Blogs of 2022
As we prepare for the year ahead, it is always wise to take a moment to look back and reflect. New content is posted each week on the Inside the Exit blog. Today, we share the top five articles of the year filled with a variety of in-depth topics and advice for Exit Planning Advisors.
The 2022 BEI National Exit Planning Conference welcomed nearly 150 professionals from around the globe to the Four Seasons Hotel in Denver, CO this past August. Attendees represented a variety of industries, learning from experts in business and financial planning, leadership, and marketing through sessions, workshops, and networking opportunities.
Attendees came from around the globe, and in the spirit of the event theme, Growth Through Engagement, attendees left inspired to take their Exit Planning work to the next level. Read more in the recap blog to learn about the various sponsors and speakers, some of the most popular sessions, see a few photos, and more.
Register for the 2023 Conference, set for August 7 - 9, 2023 in Denver, Colorado.
Employee Stock Ownership Plans (ESOPs) continue to be a topic of interest among the Exit Planning community due to their complex nature. This blog serves as a general outline of the appeal of this path, process, pros and cons to give Exit Planning Advisors a baseline understanding of this unique exit path.
While not an extensive list, this blog shares key points that advisors should be able to articulate to their clients who may be considering an ESOP transition. Read more.
3.Why a Buy-Sell Agreement Isn’t Everything
It’s no surprise that discussions about Buy-Sell Agreements persist amongst the BEI Network as it is a crucial aspect of the comprehensive Exit Plan. There can be some nuanced opinions about this document however.
To the business owner, this agreement often checks “solve business continuity problems” off the to-do list. Alternatively, Exit Planning Advisors know that oftentimes these agreements create more problems than they solve. A typical Buy-Sell Agreement has gaps that need to be addressed at any given time, which is why it is important that they are not seen as the “quick fix” to business continuity.
Read more on this blog to discover the three key factors that make up an effective Buy-Sell Agreement through the eyes of Exit Planners.
4. Identifying Drivers of Transferable Business Value
The most significant factor that impacts a business owner’s ability to leave their company - successfully or not - is creating a company with transferable business value. We like to pose the question: What really drives value in business, and how do you identify the key value drivers of a business?
This blog explores how to define transferable business value, considerations to be made by the owner and potential buyer, and the nine key drivers necessary to improve value over time.
5. 6 Strategies to Get Business Owners to Act
When an Exit Planning Advisor meets with a prospective client, it’s common to be met with hesitations from owners who don’t understand the importance of Exit Planning. Some note time and financial constraints, while others simply don’t know where to start.
Regardless of an advisor’s background or industry expertise, it can be tricky to move past these doubts and secure the Exit Planning client. We’ve gathered insights from BEI Members through the years to compile the top six strategies that have helped them get hired for Exit Planning projects. Read more on the blog to see what they are!
While the following articles did not break the top 5, they still piqued the interest of our advisor community and sparked questions related to the changing role of the Exit Planning Advisor.
- Selecting Your Best Suited Exit Path
- How to Personalize Your Client-Advisor Relationships
- Dear Business Owners… We See You
As loyal readers of Inside the Exit, we value your feedback and hope you’ll provide us feedback on what you’d like to see in 2023. To submit a topic suggestion or to schedule a meeting with a member of the BEI team, follow the link below.