YOU MAY BE WONDERING
If I sell my business, will my money last long enough?
You need to make your money last a lifetime… at a minimum. You might need enough for you and your spouse. You might also want to leave money for your heirs, charities or organizations. Next Phase was built specifically to help you put a plan in place today in order for you and your family to feel confident you’ll have the money you need later.
How can I make my business more valuable?
Most business owners want to sell their business for as much money as possible. This means that the business must be attractive to potential buyers; either internal or third-party. How this is accomplished will depend on your specific business and industry. For example, you may need to increase or stabilize your cash flow, improve your management team or minimize your role in the business. We can develop a plan with the goal of making your business more valuable to potential buyers.
What do I need to consider when comparing an inside vs. outside buyer?
The appropriate buyer for your business depends on several key factors. How much money you need. When you need it. How much risk you are willing to take. Your time frame and whether or not you have someone specific to whom you want to sell or transition. We can help you determine how these factors impact you and your buyer decisions.
Will I be able to sell the business when I want?
Once we know your business value, how much money you need and who might buy your business, you will have a clearer picture of the timetable for a successful sale. We define success as you leaving the business only when you have enough money to be financially independent. You need to know what’s possible and it’s our job to help you figure that out.
How can I save on taxes now and when I sell?
Typically, business owners have complicated tax situations. This might be at the business or personal level, or a little bit of both. With proper planning and collaboration with your tax professional, we can help you determine which opportunities are available for you to pay less in taxes now and during the sale of your business. More money in your pocket is always the goal.
What should I be doing if I don’t plan to sell my business anytime soon?
You may not be thinking about the end game at all and that is fantastic. Our clients like you are focused on growing profitable, efficient and valuable businesses. They are also working on building their overall wealth and living an impactful life. We help by demonstrating how to use your assets, income, and other resources effectively so you have more control over your future.