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Managing Value & Leaving a Legacy


Managing Value & Leaving a Legacy

By , March 15, 2019

For those Business owners nearing exit, a big important life event, we are observing more and more knowledge of the demographics and circumstances around it. Barely a week goes by when a business owner does not approach us to say:

“I have about 18 months or 2 years before I would like to retire:
how can I best utilise my time and resources?”

What this represents is a much greater awareness among business owners of the need to prepare, not pray, for a successful exit. There are some high-value projects we came to so routinely recommend they formed our 21 steps program for exit readiness. We organised these 21 steps into 5 stages, all around maximising the value of the business.

Following on from the Extracting Value, the fifth and final stage in this series is about managing the value of your business in order to achieve a successful exit.


Stage 5: Manage Value

  • Step 19 By this time, your asset picture has completely changed. Instead of being dominated by one large investment (your business), you should instead have a large amount of cash to invest. It’s crucial to do this well.
  • Step 20 – 21 By this time, you may be in retirement or semi-retirement, and different kinds of risks arise to your net wealth. Plans for care and ensuring your financial legacy goes to the right people (e.g. not a child’s acrimonious ex-spouse!) to name but a couple. You’ve worked hard to get where you are, you must protect it.
Craig West

Craig West

Executive Chairman | Succession Plus

Craig West is a strategic accountant who has over 20 years’ experience advising business owners. His background as a CPA in public practice, provided invaluable experience in the key issues of concern to business owners. Following 6 years of study to gain two masters degrees, Craig focused on Capital Gains Tax (CGT) for business sales advising on strategic management of tax issues. This experience formed a very strong view that business owners (and often their advisers) were unprepared and unaware of the steps required to prepare a business for exit.

Craig now acts as a strategic mentor for mid-market business owners and has written four critically acclaimed books on employee incentives, succession planning, asset protection and exit strategies. Craig has conducted numerous seminars and keynote presentations throughout Australia & internationally, including adviser education programs for the Institute of Chartered Accountants and CPA Australia.

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