The Subject:

Let’s Make a Deal! (How to exit your business as a winner)

At some point, every business owner leaves his or her business – one way or another, voluntarily or otherwise. In spite of this fact of business life, most business owners fail to properly plan for the inevitable. The fundamental task of Exit Planning holds the key for both the long term survival of the business and the maximization of value for a lifetime of work in founding, building, and maintaining a family-owned or closely held business.

The reasons for leaving a business are as varied as the individuals who run them.  Perhaps the owner is tired, bored, or simply has lost his or her enthusiasm. It may be a desire to decrease financial risk or to avoid the headache of the next financial downturn. Maybe it is family-related or heaven forbid, a health concern. Even if the triggering event is in the distant future, an effective predetermined strategy can help smooth the transition and build in contingencies for the future.

This Lunch & Learn will provide an overview of a basic four step process for developing an effective Exit Planning Strategy. These include:

1. What does the business need to be worth? (Setting personal and professional objectives)
2. What you see is what you get. (Getting your house in order and promoting value)
3. Who is going to buy it and can they afford it? (Show me the money! Converting value to cash)
4. What’s your fire drill? (Remember Murphy’s Law, “Anything that can go wrong will go wrong.”)

It has been said, “When a man does not know which harbor he is heading for, no wind is the right wind” (Seneca). Even an incomplete business succession strategy is better than no tactic at all. You may choose what’s behind door #1, door #2, or door #3. Just be sure to choose!

The Experts:

Porter Alexander is an innovative thinker and problem solver with over a decade of experience in the financial services industry. As a principal and advisor with ATW, LLC, Porter primarily serves small business owners’ needs through personal financial planning, investments, insurance, and especially qualified retirement plans. Porter is passionate about building long-term relationships with his clients, and it shows. He has the intelligence and foresight to listen to his clients, cut through the clutter, and pull out the right tools to help them succeed. Before entering the financial services field, Porter grew up in his family’s construction business and has a passion for and experience in dealing with the opportunities and challenges of being the next generation within a family-owned business. Porter is a member of Certified Financial Planner (CFP) Board and Accredited Investment Fiduciary (AIF).

Charles (Chuck) Farmer is a senior-level financial expert in the areas of business continuation planning, income and estate planning. Chuck brings over 22 years of financial planning and strategy experience to ATW. Prior to joining the ATW team, Chuck founded and served as President of  Alliance Financial and worked for other financial institutions, such as Branch Banking and Trust Co (BB&T), First Tennessee Bank Insurance Services, and Mass Mutual. Farmer is proficient in all aspects of financial planning with a special emphasis in business and estate planning, which specifically qualifies him to help business owners in solving their unique financial issues. He also has experience in modern portfolio theory, and broad based knowledge in insurance, investment, annuity, trust, and traditional banking credit and deposit products.

Lunch provided. Menu options:

Please indicate your menu preference with registration.

Chicken Almond Salad
Tossed with seasonal tart cherries and honey, served on a warm croissant with parmesan cheese 

Chicken Saltimbocca Ciabatta served with Seasoned Wedge Fries
Sautéed breast of chicken delicately seared with prosciutto and covered in melted Asiago cheese served with sage mayonnaise  

Season’s Classic served with Seasoned Wedge Fries
Fresh ground Certified Angus Beef patties with our own house seasoning… served on a grilled ciabatta roll with Swiss cheese, sliced tomato, roasted caramelized onions and seasonal mayonnaise

Note: The Legacy Centre's Lunch & Learn Series is a monthly/bi-monthly educational workshop in a small group setting that gives owners and key employees the freedom to ask questions and seek specialized training from experts on professional topics pertinent to their business success.