Archive 2022-167: 7 Pitfalls in Small Business & Practice Exit and Succession Planning

**Webinar 167: Live Broadcast Date: May 18, 2022, 1:00-3:00 pm EDT**

VPS StraightTalk Webinar Series: 7 Pitfalls in Small Business & Practice Exit and Succession Planning

Speaker: Gregory R. Caruso, JD, CPA, CVA

The primary issue when advising small business and professional practice clients on an exit or succession plan is getting them started and keeping them actively engaged to execute the plan. In this presentation we will review seven major pitfalls that reduce business value and sometimes stop the process altogether. Several of these are common errors made by professionals and several are traps into which clients commonly fall. A simple exit plan template will be provided to aid in initial discussions with the client and to prompt them to take the first steps.

In this webinar you will gain a better understanding of what it takes to get your clients to start – and successfully finish – a business or practice exit and succession plan. If you provide succession planning, would like to add this service, or are just thinking about your own plan, this presentation is for you. This presentation is designed for advisors of smaller businesses with revenues typically under $10 million.

Learning Objectives:
The participant will learn how to:

• Implement a succession/exit plan your clients will complete
• Evaluate what creates transferable business market value and how to increase business value
• Calculate a realistic value for the purpose of a possible business sales price
• Recognize alternative ways to exit: market sale, merger, employee buy-out, etc.
• Create realistic exit plan timelines
• Determine the best buyer and the impact on the exit process

Handouts

• Exit plan template
• Copy of the VPS webinar PowerPoint slides
• Access to a video recording of the program.