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Exit Planning  – An Opportunity for Business Advisors

Exit planning software

Businesses become successful with the help of a strong business plan. Likewise, strategic planning helps management teams and staff along the way to financial stability and clarity. It makes sense then that exit and succession planning guide the company to the next stage. This could include the sale of the company to a third party or passing it on to family members as well as a number of other possible exit pathways. It’s also an opportunity for business advisors and consultants to add value to their current service offerings with the help of exit planning software.

Exit and Succession Planning

Think about these numbers. Most business owners are over the age of 55. Over 60 per cent of business owners plan to use the money they receive from their business as a main source of income. Additionally, between 80 and 90 per cent of their wealth is tied up in their business, however, less than 20 per cent have an exit plan. For these reasons, a great opportunity exists for business consultants and advisors to add exit and succession planning to their offerings and exit planning software helps them deliver this service in a timely and structured manner.

What is Exit Planning?

An exit plan lays out how the value of a business translates into wealth and helps create a smooth transition for the owner into the next stage of their career or retirement. It also takes into account how much money a business owner needs to live comfortably as they enter that new stage. It addresses a host of concerns such as tax and legal issues as well as the personal objectives of the business owner/s. 

What is Succession Planning?

Succession planning is a next-step guide for filling positions within an organisation once the current owner passes the reins to new leadership. Succession planning ensures a smooth transition and strengthens the company over time. It’s useful in identifying critical positions within the organisation as well as potential vacancies.

A New Revenue Stream for Business Advisors and Consultants

Business advisors who add exit & succession planning services are presented with an opportunity to differentiate themselves from other advisors while also creating additional revenue. Exit & succession planning is a complimentary service offering to the more traditional business advisory/consultancy services provided, allowing firms to easily integrate it into their practice while increasing the value provided to clients. Providing exit and succession planning gives consultants a big-picture view of their client’s businesses and allows them to add value to their services.

Blending exit and succession planning into an advisory practice generates a number of opportunities:

  • Exit planning allows advisors to have better conversations with business owners.
  • The advisor has more knowledge and understanding of the business owner and their business to dig deeper and have broader, more meaningful conversations
  • Advisors that tap into exit planning have a holistic view of the client’s business and their goals, rather than a narrow, single-focused approach.
  • The average exit and succession planning process is three to five years, this allows the advisor to work with clients over a longer period of time. With this advisors will generate recurring revenue while significantly adding value to the client’s business.

Automate With Maus Exit Planning Software

Exit planning software helps streamline the process and creates a clearly defined end game. Exit planning automation allows for easy integration with other software such as Quickbooks and Xero. Maus software allows business advisors and consultants to structure and automate the entire client journey.

Maus software allows business advisors and consultants to do the following:

Close the Value Gap

Exit planning software helps consultants close the gap between perceived value and experienced value. Using a proven methodology, this software is a valuable tool for creating profit and loss statements and forecasting cash flow over the next year or the next five years. 

Track Progress & Measure Growth

By tracking key metrics, achievements, and obstacles in one software system, advisors can easily implement the exit plan and keep their clients in the loop. Setting and tracking goals are also easy to manage and share with clients and other stakeholders. Advisors can identify any risk factors that could devalue the business using 121 value driver questions across 22 categories. 

Use Powerful Software Tools

Maus software offers powerful tools to help manage all facets of planning. Intuitive workflows and branded templates allow for the creation of professional documentation. Take advantage of proven methodologies to remove the guesswork as you build trust with clients. Create comprehensive reports and stellar presentations to highlight progress. Finally, one of the most valued assets of Maus software is the strong customer support partners get to make their business successful.

Book a Demo Today

Exiting without a well-thought-out strategy puts the entire business at risk. Learn how Maus software enables consultants to bring more value to their clients as they expand revenue. Book a demo today to get started.

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