• What are your preferred options and timing for exiting the business? For example, sale to outsider, sale or gift to family or employees, merger with competitor, buyout by a partner, etc.
  
  
• What family members, if any, are involved in the business, and what are their objectives?
  
  
• What are your financial objectives and retirement plans?
  
  
• What is the value of your business now?
  
  
• What key actions are necessary to increase business value and position it for sale at the optimum after-tax amount needed to achieve your financial objectives?
  
  
• What actions are necessary to manage estate, trust and tax issues you will face through retirement and beyond?
  
  
• What actions, programs and agreements are necessary to ensure continuity of the business in the event of departure, death, or incapacitation of any of the owners or key executives? Examples include training programs, system development, buy/sell agreements, key man insurance, and non-compete agreements.
  
  
• Who will replace you or other owners upon departure? Are any current executives and/or family members capable of doing so, and if so, what additional skills, training, licensing, etc. are needed? If not, what is the strategy for recruiting and developing a replacement?
  
  
• What changes in the business and your role are needed now to preserve your quality of life and your passion for the business?
  
  
• A comprehensive exit plan addresses a wide variety of intricate strategic, operational, financial, tax, human resource and legal issues. While a primary focus is meeting the owner’s objectives, it should ideally reflect the desires and concerns of all important stakeholders, including family, business partners, employees, and in some cases customers, suppliers and the community. Input should be gathered from key advisors, including your CPA, wealth planner, estate planner, business consultant, insurance broker, appraisers and mergers and acquisitions advisor.