Business Succession and Exit Planning A core focus of WestPoint Private Client Group’s practice is working with business owners. As Certified Exit Planning Advisor (CEPA) designees, Scott is well-suited to provide continuity and succession planning for entrepreneurs and business owners.As a business owner, there are many key questions to ask yourself as you consider the current and future well-being of you and your business. For example:What does financial independence look like to you? What is the exit strategy or succession plan for your business?Could your business continue to succeed if you were to become disabled or die unexpectedly?How can I best protect the value of my business for me and my family, so we can enjoy it together?Does our organization attract, retain and reward our key people? What if they leave?What is my business worth? When was it last valued? (A business valuation, conducted by a credentialed valuation expert). Our Process 1. IdentifyDetermine your succession timelineUnderstand your business valuePerform a formal retirement needs analysisConsider your preferred succession pathTransfer to insidersSale to a 3rd partyBecome an investor/owner2. EvaluateIdentify the GAP between your retirement income needs and the amount of income produced by your business and non-business assetsAlign your non-business assets with your succession objectivesAnalyze the health of your businessManagement team performanceFinancial performanceOperational performance3. DesignA customized Roadmap that outlines your objectives and provides strategies and tacticsExamines various “what-if” scenariosFocuses on your primary and secondary planAll factors being planned in concert with your advisor Team (CPA, Attorney, etc.)4. ImplementCoordinate the efforts of your Advisor Team to:Structure or update documentsStructure or update financingHighlight key performance indicatorsReduce RiskConsider funding solutionsImplement the solutions and arrange the steps necessary to fulfill your objectives5. MonitorProvide accountability and implementation coordination to meet your objectivesUpdate progress and plan through regular contactFinancial plan recommendations can be implemented with the advisor of your choosing. Implementation of specific products or services may result in commissions or fees outside of the financial planning fee.