Exit Planning for Business Owners:

Succession and exit planning assure the closely held business owner can maintain and preserve the financial and social legacy of the enterprise, whether the goal is to retire, move to another venture and simply to reduce the need for day-do-day involvement in running the operation.

Exit Planning Using Proven Strategies and an Extended Network of Professionals

Jay McDaniel works as a legal and strategic advisor to closely held businesses, and is certified as an Exit Planning Advisor (CEPA) by the Exit Planning Institute. He emphasizes three essential goals in working with closely held business owners: protecting the value of the business; growing the value of the business, and harvesting the value of the business.


Contact us today to learn how we can help you prepare for a successful transition, ensuring that your business thrives for generations to come. Begin by understanding the value of your business.  Try our valuation tool.

The Exit Planning Institute (EPI) has developed a comprehensive, multidiscipliary framework for developing a robust exit strategy, focusing on maximizing value, ensuring business continuity, and preparing for the future. EPI’s network of advisors includes lawyers, wealth consultants, insurance advisors, merger and acquisition firms, family business consultants, accountants, and management firms.


As a certified advisor, Jay has access to this network of thousands of professionals in and out of the CEPA network, a thorough understanding of a proven strategy for business value enhancement that can increase the value of some businesses by 2 to 8 times when implemented.

This framework serves as the backbone for business owners ready to step away from the day-to-day responsibility for their closely held enterprise, enabling a seamless transition that safeguards the owner’s legacy and financial security.

Understanding Succession and Exit Planning

Succession and exit planning is the deliberate process and implementation of course for the transition of business leadership and ownership. It is about preparing for the eventual transfer of control, ensuring that the business continues to thrive without its current owner. The aim is to create a plan that aligns with the owner’s personal goals, the business’s needs, and the future leadership’s capabilities.

The Exit Planning Institute Framework

EPI provides a well-documentyed approach to exit planning, emphasizing the need for a well-rounded strategy that encompasses various facets of the business and the owner’s life. The process is divided into key phases:

  1. Goal Setting: Establish clear, measurable objectives for the exit. This includes financial needs, timeline, and the desired legacy.
  2. Business Valuation: Understand the current value of the business and identify factors that could enhance its worth. A comprehensive valuation is critical for informed decision-making.
  3. Value Enhancement: Implement strategies to increase the business’s value, focusing on operational improvements, financial performance, and market positioning.
  4. Contingency Planning: Prepare for unforeseen events with plans that protect the business, its employees, and the owner’s interests.
  5. Ownership Transfer: Explore options for transferring ownership, which could include selling to an outside party, passing the business to family members, or arranging for employee ownership.
  6. Wealth Preservation: Develop strategies to protect and grow the proceeds from the sale or transfer of the business, ensuring financial security for the owner and their family.

Best Practices in Succession and Exit Planning

The Exit Planning Institute advocates for several best practices that are essential for a successful exit strategy:

  • Early Planning: Begin the process well in advance of the anticipated exit date. Early planning affords the owner more options and opportunities to enhance business value.
  • Collaborative Approach: Assemble a team of advisors, including legal, financial, and business experts, to guide the planning process. This team ensures that all aspects of the exit are considered and addressed.
  • Communication: Engage with key stakeholders, including family members, business partners, and employees, about the exit plan. Transparency helps manage expectations and mitigate potential conflicts.
  • Flexibility: Remain open to adjusting the plan as circumstances change. Flexibility is crucial to navigating the complexities of exit planning.

Call to Action

For entrepreneurs and business owners contemplating their future and the legacy of their business, succession and exit planning cannot be overlooked. The strategies and methods taught by the Exit Planning Institute provide a solid foundation for embarking on this critical journey.

If you’re ready to take the first step towards securing your business’s future, our firm can guide you through the intricacies of succession and exit planning. We understand the unique challenges that entrepreneurs face and are here to ensure that your exit strategy aligns with your goals and vision.


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