Planning For The Most Significant Financial Event of Your Life: TRANSITIONING OR EXITING YOUR BUSINESS

Business Transition and Exit Planning Services

-Is Your Wealth Locked Up In Your Company?

-Do You Know What the Current, Objective Value of your Business Is?

-Do You Know How Much Money You'll Need to Exit Your Business on Your Terms?

-Do You Know How To Convert The Value Of Your Company to Cash, Through an Inside Transfer or Third Party Sale, While Minimizing Risk and Your Tax Consequence?

We Help Business Owners Answer These Questions Every Day.

We help you create your Exit or Transition Plan, coordinate your advisors around it, and help you implement Your Plan based on Your Time table and Your Objectives

Your Exit Path should be driven by your goals and objectives. We aren't vested in promoting a particular goal, we work to identify and accomplish your goals. Our approach works because it is customized to help you accomplish the successful exit or transition that you desire. 


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Choosing the First Step on Your Exit Planning Path

Exit or Transition Planning is the creation and execution of a strategy allowing business owners to transition out of their business on their terms and conditions. It is an established process that results in a written road map, or Exit/Transition Plan. It involves the efforts of several professionals, facilitated and led by an Eperienced Exit Planning Advisor, who assures the creation of your plan as well as it's timely execution

To learn more about the various components of a successful Exit Plan,

Click on any one of the icons below.  

EXIT ON YOUR TIME TABLE - FOR THE VALUE THAT WILL SUPPORT YOUR OBJECTIVES - TO THE SUCCESSOR OF YOUR CHOICE

A Quarterbacked Approach

This graphic shows some of the advisors or technicians that may play an important role in your transition planning process. This Graphic also shows, how our Exit Planning approach moves you, the Business Owner to the control position in the transition planning process, and puts a CORE Advisor in a position to do the heavy lifting. We coordinate the required technicians and collection of the important information to create and implement an Exit Strategy based on your goals and objectives. This lets you maintain control of the process while allowing you to do what you do best, work on your business. Our approach will your reduce advisor cost, through a more efficient process, and optimize your net proceeds from the transaction, improving the potential for a timely, more valuable and successful exit.


CLICK HERE TO TAKE THE FIRST STEP
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FINANCIAL PLANNING FROM A BUSINESS OWNER'S PERSPECTIVE

Managing Your Risk...Planning Your Financial Future

Due to the portion of a Business Owner's personal wealth that is tied to their business, there are unique financial planning and risk management essentials which need to be evaluated, addressed and monitored.

It is important for you to work with an advisor who has experience advising closely held business owners.

As it relates to your transition planning, if you have a Financial or Insurance Advisor that you currently working with, we can coordinate their services with those of the other specialists on your advisory team to assure the best possible outcome. 

If you don't have someone that you're working with, we are able to deliver exceptional guidance to build, and most importantly protect your core wealth, through our associations with highly qualified Financial Planners and Risk Management professionals.

Contact Us Today for a exploratory session about our services       


Terms and FAQs
HIGH PERFORMANCE BUSINESS COACH AND TRANSITION/EXIT PLANNING ADVISOR

Steven Baldo

Greetings, to give you some background, I'm the owner of CORE Strategic Business Solutions. I have over 30 years of business ownership and management experience, am a High-Performance Leadership Faculty Member and Coach, and a Certified BEI Business Transitions Advisor. I possess Real World Experience in the acquisition and merger of businesses, capitalization and financing of growth and expansion opportunities, as well as the transfer of businesses to a third party or through an inside transfer.

As a Business Enterprise Institute (BEI) Certified Exit Planner I have extensive training in the area of Exit and Transition Planning to help you accomplish the successful transition of your business. With access to a nationwide network of BEI Exit Planning Professionals and BEI's exit planning software (EPIC), I'm able to supply a comprehensive, cost efficient, and results driven approach to your Transition Planning Project. 

As a business owner for over 30 years, I understand that your business is unique, and that cookie cutter and disjointed, haphazard approaches to this most important process are very costly to you as a business owner.

From the creation of your transition plan, to its implementation, right through its conclusion, my approach is focused on, and driven by, your desired goals and objectives.    


LETS DISCUSS YOUR PLAN

CONTACT US TODAY: A discussion over coffee can be a great start

We feel that we can bring real value to the business owner community, by working with a limited number of clients each year, and we may not be a fit for every business owner. However we welcome the opportunity to spend 45 minutes to an hour with business owners, no matter their situation. Whether we decide to work together or not, I'm confident that you will gain valuable insights from our meeting.

Steve Baldo

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Your Level of Comfort, Security and Piece of Mind After Exiting Your Business

Your Exit Objectives

An Exit Plan is successful only if it takes you to the destination you choose. Below are the three primary goals of an Exit Plan 

  • Leaving the company on the date you choose.
  • leaving the company to the successor of your choice.
  • Leaving the company with the amount of cash you desire to secure a comfortable, sustainable post business life.

Owners also have secondary objectives that can significantly influence their Exit Planning choices. For example, you may want your exit to benefit certain key employees, or a charitable organization that is important to you or your family, or you may wish to pass wealth (with minimal tax consequences) to family members. 

In this step we help you to define your unique objectives and goals which become the driving force behind the design and implementation of your successful Transition/Exit Strategy. 

"You've got to be very careful if you don't know where you're going, because you might not get there."

-Yogi Berra  


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The Fuel You'll Need to Reach Your Desired Objectives

Your Financial Resources

In this step, we establish (a) the value of what you have today (i.e., the value of you business) and (b) your business' potential cash flow over the next few years. We'll learn whether there is a shortfall between the amount you want or need from your business (when you exit) and the amount you have now.

Unless you know the value of your company, or the amount of after-tax cash you can expect to receive from its transfer, it is impossible to determine whether your financial objectives can be met.

If your financial objective cannot be met today, a business valuation will tell us how much your company must grow before you can exit. If, on the other hand, you are ready to exit and your company will sell for an amount that will make you financially secure for the rest of your life, there are significant risks if you choose to delay your exit. If you find yourself in this situation, let's talk about those risks and your willingness to take them. 

When you complete this component of your exit planning process you will know: 

  • What your company is worth.
  • Your current and future Cash Flow of the company.
  • The current and future value of the personal financial assets you have in place.
  • What those assets will be worth in the future.
  • If there is a Gap between the value of your business and the funds needed to meet your post exit objectives. 

If you do not have a current "thumbnail" valuation of you company or have not recently completed a Personal Financial Needs Analysis, we can connect you with the appropriate professional.   


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Closing the Value Gap

Build & Preserve Value

The elements that build the value of a business or preserve the value that you have worked so hard to create (and that buyers will pay for) are called Value Drivers. Value Drivers include a stable and motivated management team, a realistic growth strategy, an operating systems that improves the sustainability of cash flow. In this Component, you and your advisors identify which Value Drivers in your business are important to meeting your objective, and design strategies to protect the tangible value of your business. Below are just a few of the important elements that may be addressed in this component of your planning.  

  • A Management team development plan
  • Best ways to transition management responsibility
  • Employee compensation review and analysis
  • Qualified retirement plan change
  • Key-employee incentive compensation plan (stock bonus plan, phantom stock plan, stock appreciation rights plan, non-qualified deferred compensation plan, cash bonus plan)
  • Key-person insurance planning
  • Separation of business assets from business operations
  • Covenant not to compete

If you do not have a Business Consultant or a Financial Planner or Insurance Advisor who is skilled in these areas we can connect you with the appropriate professional.


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How Would an Acquirer, Investor or Banker Look at Your Business

Selling to a Third Party

Preparation for the sale of a business to a third-party buyer and the completion of the transaction itself require focus, planning, and stamina. Many business owners do not realize the complexity and details involved in a third-party sale until they are well into negotiations. We will help you take the appropriate steps before you put your business on the market so that the sale process can be as organized and efficient as possible. In doing so, we can reduce stress on both you and your business while maximizing the likelihood that the transaction will achieve your goals. Below are just a few of the important elements that may be addressed in this component of your planning.  

  • Begin pre-sale due diligence
  • Reduce company debt
  • Consider various tax-planning strategies
  • Identify potential buyers
  • Create stay bonus plan for employees
  • Consider options for business real estate
 

If you do not have a CPA, Business Valuation Specialist, Business Attorney, M&A Advisor or Business Broker who is skilled in these areas we can connect you with the appropriate professional.


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Secure the Value that You've Worked All Your Life For

Transfer to Insiders

To transfer your ownership interest successfully to insiders (co-owners, family members, or key employees), we must (a) achieve your objectives related to value and timing, (b) minimize your risk, and (c) keep you in control of the company until you have received full payment for  the company. To accomplish this, we may use individual or company performance criteria for ownership transfers, business cash flow for the primary source of funding for transfers, and/or create plans that unfold over several years. Below are just a few of the important elements that may be addressed in this component of your planning.  

  • Ownership skills development plan
  • Sale of ownership interest (using cash, a note, or bank financing)
  • Bonus of ownership interest
  • Gift of ownership interest
  • Non-qualified deferred compensation plan
  • Establish the lowest, defensible value for your business. 
  • GRAT (Grantor Retained Annuity Trust)
  • Buy-back agreement for minority owner

If you do not have a CPA, Business Valuation Specialist, Business Attorney, M&A Advisor or Business Broker who is skilled in these areas we can connect you with the appropriate professional.


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How Will Your Family Know, The Who, What, Where, When and How, if You're Not There to Tell Them?

Business Continuity

Business continuity planning encompasses a wide range of consequences that may follow the departure of a majority owner or a member of a controlling owner group (because of death, disability, retirement, or termination). These issues frequently keep business owners awake at night wondering what could happen to their ownership interest and the business itself. Business continuity planning protects your right to receive payment for your interest, provides certainty about what you may be required to pay for the interest of a co-owner, and supports the business after an owner's departure so that it can continue to thrive. Below are just a few of the important elements that may be addressed in this component of your planning.  

  • Business insurance for continuity planning
  • Stay bonus plan
  • Business continuity guidelines
  • Buy-sell (shareholder) agreement review
  • Wage (salary) continuation plan
  • Retaining key employees after death or disability of the owner
  • Plan for the company's financial independence
  • Objective valuation of the business 

If you do not have a CPA, Estate Planning Attorney, Financial or Insurance Advisor who is skilled in these areas we can connect you with the appropriate professional.


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Build and Preserve Your Life's Work

Wealth & Estate Planning

Business owners are unique in the world of personal wealth and estate planning because their businesses typically represent a significant portion of both their personal net worth and their annual income. If you have children active in your business, your planning is even more complex. In this component, we will create a well-balanced plan that addresses (a) protecting personal assets, (b) managing wealth both now and in the future, and (c) promoting harmony in the family. Below are just a few of the important elements that may be addressed in this component of your planning.  

  • Existing and recommended estate planning documents
  • Personal asset protection planning
  • Personal and family insurance
  • Transfers of specific non-business assets
  • Personal wealth management plan
  • Allocation of business cash flow after death
  • Bequests to key employees upon owner's death
  • Transfer of business real estate upon death

If you do not have a CPA, Business Valuation Specialist, Estate Planning Attorney, Financial or Insurance Advisor who is skilled in these areas we can connect you with the appropriate professional.


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