Plan your exit now so you exit successfully later
Business owners should start investing in their post-exit goals now. We'll help you educate yourself, develop a strategy, and execute it well.
If you own a business,
we built this for you!
The first step
Prepare for a successful exit with our Products.
From educating you on your options to coaching you through the process, each product is designed to help you grow your business right now to set yourself up for a wonderful exit when the time comes.
you will one day exit your business...
The question is not if, but how. However, if you wait to plan until you're ready to exit, then your business won't be ready when you are.
To prepare well,
start by learning
if this is for you.
The first step
Take a crash course.
The best thing you can do is educate yourself on what it takes to prepare for your exit now. We'll show you the process and people involved.
Baby boomer business owners
Three things you
need to know...
Take six minutes to read what we have to say. This may be one of the best investments you could make in your business' future. We are Exit Planners who see a huge problem that every baby boomer business owner needs to recognize now.
We created this site for you, to ultimately share three things you should know about one of the most significant events in the lifetime of your business.
A big economic catastrophe may be on it's way.
Baby boomer business owners aren't prepared for their exit - and there are a lot of baby boomer business owners. An estimated 12 million baby boomer business owners are expected to sell their businesses in the next 20 years. Even more could exit unexpectedly due to health, family, industry, or other life circumstances. While most of them believe that planning for their exit is important, only 17% of them actually have a written plan.
If business owners don't prepare for their exit now, then a poor exit is very likely and everyone could take a huge hit. Millions of employees could lose their jobs. Millions of family members could suffer heartache. Millions of communities would feel the effects. The stock market might even tank. And millions of owners (like yourself) won't get the finances, impact, retirement, or legacy for which they worked so hard.
If you are a business owner, you are not the exception.
Many baby boomer business owners have chosen to not create a plan yet for their inevitable exit. And we believe that there couldn't be a more unwise approach. While you don't know when exactly you'll exit, you know for sure that you one day will. And waiting to plan means putting everything you've built at risk.
If you're a business owner, you need to start thinking about your exit now, even if you're 20 years away. Planning well means involving experts from many fields after a thorough analysis of your specific business, desires, and goals. Some exit strategies take five, even ten years to implement. Some safeguards should be put in place now. Waiting until "next year" could cost you millions down the line, lost employees, or failed expectations.
You should put a plan in place now, even if it feels temporary. Think of it as creating a will for your business, tailored to what matters most to you. When you consider the finances, retirement, employees, communities, and personal goals that rely on a your business' successful transition, any investment you make now will only prove to be wise and responsible. Remember that it takes longer than you'd think, especially if you're going to do it well.
Here are two action steps you can take this week.
1) Educate Yourself
The single best thing you can do to start preparing for your exit is to educate yourself on the process and people involved in planning.
On our podcast, we interview experts from a variety of fields about their professional perspective on the importance and urgency of planning your exit now.
We also designed an online video crash course to make exit planning easy to understand for busy business owners. Our short videos give you everything you need to know to get started. No need to read a hundred books and scour the web for hit-or-miss tips. Our course is self-paced, with everything you need to know in one place.
2) Educate your business group
Chambers of commerce, CEO groups, personal networks, and more are all full of business owners who are likely headed for an unprepared and potentially disastrous exit.
Sponsor our online crash course for everyone in your group. You'll be able to grant access to an unlimited number of business owners for one low price each year.
Our goal is to educate every baby boomer business owner on what they need to know to prevent an unsuccessful exit. Partner with us to educate the owners around you. We'll even supply promo materials that reflect you or your business as the official sponsor.
We're a team of expert business consultants from ENNIS Legacy Partners on a mission to help you exit your business as successfully and responsibly as you've started it.
Our number one priority is serving you well, so please don't hesitate to reach out with any comments or questions.
Our letter to you
Dear Business Owner,
You have chosen a wonderful career of significant influence, wealth creation, and service to others. Your path of business ownership has served you, your family, and others well. We want that to continue for years to come.
However, we know that with great influence comes great responsibility. And you must use that influence to protect what you've built and those it impacts, all with the utmost responsibility.
Your family and employees. Your customers and vendors. Even your community and industry. They will all be affected by how you leave your business, whenever that day comes. But failing to plan for such a moment could put everyone at risk, nonetheless jeopardize your own post-exit goals and objectives. You now have an opportunity to leave your business well, and planning years (even decades) ahead of time is the surest way to achieve that end.
One of our favorite quotes is by Bo Burlingham, who said in his book Finish Big, "The earlier you start preparing for an exit, the more likely it is that you'll have a happier one." Education is always a safe first step when it comes to preparing for your exit. It gives you a foundation and process you can stand on to see what your specific situation needs most.
We created a short, casual, easy-to-understand intro course that quickly gets you familiar with the process. We think this is a crucial step, so we've made it very affordable. You can easily find it here at ExitReadiness.com.
We've unfortunately seen so many businesses, families, and even communities be impacted horribly by a business owner's failure to plan years in advance. Yet it is also a joyous thing to see a business owner reap the benefits of planning far in advance for the sake of their family, employees, customers, and community.
You will exit your business. It will hopefully be expected and by choice. However, it may also be unexpected due to business conditions, health, family circumstances, or even unfortunately sudden death. We are driven to have you secure your business for your inevitable exit, no matter when that may be. It's not too early to start - you should start now.
Your dreams, your goals, your family, your people, and your legacy are worth preparing for. So please receive our invitation to get started now. A lot is at stake if you fail to plan, yet there is even so much more to be gained for the people you care about if you plan well.
Here's to your future,
Founder | Exit Readiness
Interviews with subject matter experts
Sign up to receive our podcast in your inbox.
We respect your privacy.
The information in these podcasts is general in nature and is provided with the understanding that the information provided does not render specific legal, accounting, tax or financial advice. Your particular situation may be unique or different from those discussed in the podcast, therefore, you should consult your legal, accounting, tax or financial advisor to discuss your situation. Podcasts are not intended to give advice or to represent our firm as being qualified to give advice in all areas of professional services. Exit Planning is a discipline that typically requires the collaboration of multiple professional advisors. To the extent that our firm does not have the expertise required on a particular matter, we will always work closely with you to help you gain access to the resources and professional advice that you need. We appreciate your interest.
you will one day exit your business...
The question is not if, but how. And if you wait to plan until you're ready to exit, then your business won't be ready when you are.
What's the first step?
Take a crash course.
The best thing you can do is educate yourself on what it takes to prepare adequately for your exit. We'll show you the people and process involved.
Choose your next step:
The information on ENNIS Legacy Partners website is provided for general educational purposes only and may not reflect changes in federal or state laws. Before taking any action based on this information, we strongly encourage you to consult with a professional accounting advisor about your specific situation.
ENNIS Legacy Partners website collects non-personally-identifying information that web browsers and servers make available, including browser type, language preference, referring site, and the date and time of each visitor request. The firm's purpose in collecting non-personally identifying information is to better understand how visitors use our website.
Gathering of Personal Information
Certain visitors to our websites choose to interact in ways that require the website to gather personally-identifying information, depending on the nature of the interaction. For example, we may ask visitors who access our online content to provide a personal name, email address and organizational affiliation. In each case, our firm collects such information insofar as is necessary or appropriate to fulfill the purpose of the visitor's interaction with our website. Our firm does not disclose personally-identifying information other than as described below. Visitors are never obligated to supply personally-identifying information, though the failure to disclose information may prevent them from engaging in certain website-related activities.
Protection of Certain Personal Information
ENNIS Legacy Partners discloses personal information only to those of its employees and contractors who (i) need to know that information in order to provide services requested through interaction with the firm's websites, and (ii) have agreed not to disclose it to others. ENNIS Legacy Partners will not rent or sell personal information to anyone unless required to do so by law. If you have supplied your email address to ENNIS Legacy Partners, our firm may occasionally send you electronic industry alerts, solicit your feedback, inform you of upcoming firm events or share current general news about our firm. Such communications include an easy unsubscribe option, providing you with the option to indicate you wish no correspondence of this nature in the future. ENNIS Legacy Partners takes all appropriate measures reasonably necessary to protect against the unauthorized access, use, alteration, or destruction of personal information.