Planning A Business Exit
By Marko Mijuskovic
Co-Founder & Partner of Wealth Strategy Partners
Founded in Honolulu in 2007, Wealth Strategy Partners has recently been recognized as one of the fastest-growing financial firms in the region. In addition to our flagship Honolulu shop, we have opened offices in California and Nevada. Our mission is to help make our clients’ numbers better — investment numbers, tax numbers, retirement numbers and business numbers. All 100 team members are focused on making our clients’ vision for their financial futures a reality. Bottom line: We strive to create a lasting impact on their wealth potential.
Wealth Strategy Partners is about finding solutions and providing real value. That’s why I recently became the first and only Hawaii financial advisor to become a certified business exit-planning specialist.
With so many locally owned and managed businesses, I saw a need in the community for business exit planning. Of course, at this point very few business owners are familiar with the specialty — especially here in Hawaii. What’s important to know is the BEI CExP™ designation sets the industry standard for Exit Planning certification.
Business exit planning helps business owners in the following ways: determining the appropriate exit timeline, guidance on how to appraise the value of their business, information on protecting the business assets, and securing continuality plan options for internal and external transfers of ownership. Achieving the designation requires stringent training, rigorous testing and in-depth Exit Plan Creation coursework.
Let me just say the Business Exit Planning course wasn’t something I started yesterday and finished today. The same thing is true for business exit planning. It’s a process, and there are many facets that have to be thought through, and many important decisions the business owner has to make. At a minimum, I highly recommend that business owners start thinking about their long-term plans three to 10 years out. This allows for the kind of truly comprehensive planning that can help create the most efficient tax shelters, and ensure that the owner’s wishes for the company’s succession and future are put in place.
To learn more about the Exit Planning, visit HawaiiMoneyResource.com.