Exit Planning & Transition Readiness Test

How many employees do you have in your business?

Less than 25

Between 25 and 50

Between 50 and 100

Between 100 and 250

More than 250

What are the approximate revenues of your company?

Less than $5,000,000

$5,000,000 to $15,000,000

$15,000,000 to $30,000,000

$30,000,000 to $50,000,000

$50,000,000 to $100,000,000

Greater than $100,000,000

Is your business profitable?

Not profitable

Between 0 and 5% EBITDA (Earnings before Interest, Taxes, Depreciation and Amortization)

Between 5 and 10% EBITDA

More than 10% EBITDA

Are you planning to exit your business or transition to a new role inside your business?

I don't have a plan

Exit the business

Transition to a new role

Do you have a personal strategy written down that clearly defines what you want or need when you exit your business or transition into a new role?

Yes

I have a plan in mind but it hasn't been written down

It is a work in progress

Have you developed a business strategy that supports your exit strategy?

N/A - I don't have a personal exit or transition strategy

Yes

I have a plan, but it isn't written down

It is a work in progress

How soon do you plan on exiting your business?

Less than 1 year

1 to 2 years from now

2 to 3 years from now

3 to 4 years from now

4 or more years from now

What internal hurdles do you need to deal with prior to an exit? (choose all applicable answers)

Dealing with my partners

Dealing with my family

Finding time to deal with creating an exit plan and implementing it

Maximizing enterprise value

Estate planning and taxation

Finding or developing a successor

Reducing business risk to a buyer

Growing the business

Making sure my employees are taken care of

Dispute resolution

None of the above

What external hurdles do you see facing you prior to your exit or transition? (You can pick multiple answers to this question)

None

Market Conditions

Availability of Credit

Government regulations

Customer concentration

Currency risk

Changes in Tax Law

Competition

Changes in technology

Have you ever sat down with an exit planning/transition expert who has walked you through the details of a well thought through exit or transition plan?

Yes

I have chatted about it with some of my professional colleagues

How do you plan on taking cash out of the business? (Check more than one if appropriate or your are unsure)

I don't know what my best options are

None

ESOP/MSOP

Selling my share to my partners

Selling my share to an outside investor

Outright sale of the business to an investor or a strategic buyer

Recapitalization

Transfer of the assets to my family

Yearly dividend payments

Do you have a buy sell agreement with your partners?

Yes

I don't have any partners

Have you had a formal business valuation done in the last 12 months?

Yes

I know what the business is worth

Do you have a team of advisers helping you create and implement your personal and business strategies?

Yes

We will find them when we need them

My accountant and my attorney are my team of advisors

Does your team of advisers have knowledge in these areas? (choose as many as you like)

I don't have an adviser

Valuation

Maximizing enterprise value

ESOP's and MSOP's

Investment Banking: Someone who will be able to represent me when I implement my liquidity plan

Programs to minimize the tax implications of a liquidity event

Wealth management

Transaction attorney

Succession planning and organizational development

Pre-sale due diligence

Funding and Recapitalization

Strategic Planning and its execution

Dispute resolution

Funding Buy/Sell agreements

Corporate governance

Do you have someone who can step into your role when you leave?

Yes

I am working on it

Do you have someone who can lead the process of choosing the best strategy and implementing it while you run the business?

Yes

I am looking for someone who knows all the ins and outs of this process

Thank you for taking the Exit Planning Readiness Assessment. This test is in two parts: Planning and Execution. A score is given to each of your answers. You will receive a summary of your results after you have completed the assessment.

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