Time to Go Getters
Or Finally, Are you a “Time to Go” Getter
Your single biggest asset, outside of your home is likely to be your business.
What that means is that when you choose to either move on to the next challenge or retire, it is critical that you get the maximum value for it.
There are two concepts that matter when it comes to exit strategies:
1. Your Magic Number (What $ you need for the next step)
2. Your Business Value
If your Magic Number is higher than your Business Value, you have what Direction call a Value Gap. When you have a value gap you have two options, either reduce the $ available for the next step, or increase your business value.
To help our “Time to go” Getters, we work with your other advisers to determine your Magic Number. Our Accounting team then prepare a detailed evaluation of your business as it currently stands.
If a gap exists, one of the Direction Business Coaching team take you through the various options of Bridging the Gap, to ensure that when it is time to go, that you are in the best financial position possible.
To find out more about value gap, download our Bridging the Gap article here.