The benefits of the STEP process
The succession transition and exit plan (STEP) process is an integrated approach designed to help you strategize with the business, personal, legal, financial, tax, and risk issues involved with monetizing your business and transitioning you to the next phase of your life. It takes approximately three years of focused activity to get your business ready to sell at a reasonable price. With five years you can generally optimize the value of your business and cash you will ultimately realize from that business. The STEP Whitepaper is intended to give you a better understanding of where this issue is in society today and how it will affect you, your family and your employees today and in the future.
Exit Planning is a multidisciplinary process presenting business owners with a comprehensive and strategic approach to the orderly transition of the management and ownership of a company.
Clearly, selling your company requires a number of careful business considerations, not the least of which is determining the value of your company and determining if the proceeds from the sale are adequate to support you and your family for the rest of your life.