Are you ready to exit your business? Quick quiz… by Andy Day | Jun 20, 2018 </p> <section> <h2>Are You Ready to Exit?</h2> <p><span style="color: #323232;">Just answer each of the 20 questions below with a “Yes” or “No” and submit your answer. We’ll compute your results and give you instant feedback.</span></p> </section> <section> <h2>We have had a formal, written business valuation completed within the last year</h2> </section> <section> <h3>There is a formal contingency plan documented and communicated in the event I become incapacitated</h3> </section> <section> <h3>We have a strong and capable management team in place such that I could be away from the business for a month or more</h3> </section> <section> <h3>Our largest customer comprises less than 10% of total company revenue</h3> </section> <section> <h3>We have an active strategic plan in place that has been updated in the last 12 months and to which we manage monthly</h3> </section> <section> <h3>Our products or services are threatened by obsolescence or global competition</h3> </section> <section> <h3>We have sufficient equipment to do our work, and our equipment is up to date and in good working order</h3> </section> <section> <h3>Our industry is growing year over year</h3> </section> <section> <h3>There are a lot of competitors in our market</h3> </section> <section> <h3>We enjoy the dominant position in our market and/or a protected niche</h3> </section> <section> <h3>We have documented that our profit margins are at or above industry standards</h3> </section> <section> <h3>We have an established track record of growth in both sales and profit during the last three years</h3> </section> <section> <h3>Our business suffers from seasonal or cyclical unevenness</h3> </section> <section> <h3>Our pre-tax profits exceed one million dollars</h3> </section> <section> <h3>Our financial statements are audited</h3> </section> <section> <h3>I have a personal estate plan, tax plan, and financial plan that account for the exit of my business</h3> </section> <section> <h3>I have a current, written succession, exit, or transition plan</h3> </section> <section> <h3>I know exactly how much money I need to receive when I exit my business in order to meet my personal goals</h3> </section> <section> <h3>I know exactly what I would do with my life if I exited my business</h3> </section> <section> <h3>I have a personal life plan in writing or in draft form</h3> </section> <section> <h2>Thanks</h2> <p>We will send you your overall readiness to exit score</p> </section> <p> </p> <p> </p> <p>
