Exit/Succession Planning
What is Exit Planning?
Exit Planning is the creation and execution of a strategy allowing owners to exit their businesses on their terms and conditions. It is an established process that creates a written road map, or Exit Plan, involving the efforts of several professionals facilitated and led by Steve DeGraff CExP, a Certified Exit Planner.
Steve ensures not only the Plan’s creation but also its timely execution. Exit Planning is important if you are selling your business, merging, or transferring your business to a family member or key employee group. Successful Exit Planning follows a multi-step process to determine the following:
- Owner's Exit Objectives, Needs & Timeline
- Business & Personal Financial Resources
- Gaps in the Business Continuity Plan
- How to Maximize & Protect Business Value
- Method of Ownership Transfer to an Insider or Third Party
- Owner's Financial & Estate Plan
Effective Exit Planning is a collaborative process.
The right exit path for a business owner may not be the obvious one. There are many variables that require the coordinated efforts of the business owner(s) and a team of professionals, each with an important role. As a Certified Exit Planner, Steve coordinates the efforts of all parties while keeping in focus the needs of you, the business owner.
The Exit Planner serves as the sounding board and quarterback for the process. Steve will work with your own team of professionals (ie; lawyer, accountant) or can offer a trusted network of experienced business attorneys, accountants, and consultants to facilitate your plan.
There are many strategies available to accomplish an exit from your business. Exit Planning reduces the guesswork. To learn more, Steve teaches virtual workshops on the Exit Planning process. It is a great way to learn more about what is important in preparing for a successful sale/transfer of your business. Register for one today.
About Steve DeGraff, CExP Certified Exit Planner
Steve DeGraff has been working with families and business owners for nearly twenty years. He comes from a family business background, working with his father, jointly running a large boat dealership & boatyard in Upstate New York. Watching his parents wrestle with "what to do with the business" shaped his understanding that business owners are expert and running their business, but not in how to sell or transfer their business.
The process of Exiting a business is emotional and stressful. Twenty years ago, when Steve's parents went to sell their business, there was no one person who understood the entire process. As a Certified Exit Planner, Steve now serves as that person. He understands the complexity of the process, the many decisions that must be made, and how to prioritize each step. He facilitates a team effort of valuable professionals to maximize value for the business owner.
Steve is also a Wealth Management Advisor and Financial Planner, with a degree in Economics from Cornell University. He currently serves as a financial consultant and a supporter of Women & Family Life Center in Guilford CT. He also teaches financial education at Gateway Community College in New Haven. His community service has also included participation with Rotary International and Leukemia Cup Regatta sponsorship . Steve is an avid sailor and resides in Niantic, CT with his wife and two sons where he enjoys sailing and shoreline life. He holds a CExP certification, series 7, 6, 65 & 63 securities registrations, as well as his Life & Health License.
Certified Business Exit Planner
Wealth Management Advisor
