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New York EO Preparedness Assessment

In preparation for EO New York's workshop The Art Of The Exit, please take a minute to complete the business preparedness assessment. 

This assessment will help you better understand gaps in your preparedness planning responsible for capturing maximum business value at sale. 

 

PLEASE ANSWER THE FOLLOWING QUESTIONS AS ACCURATELY AS POSSIBLE TO GET THE BEST RESULTS.

Click the button below to start the assessment. When finished, click on the submission button to receive your pre-planning assessment summary. 

Start

Question 1 of 27

1. Have you completed any tax planning or trust & estate planning?

A

No

B

Yes, but it is over 3 years old

C

Yes, my estate plan is current (2 years or earlier)

Question 2 of 27

2. Do you have a succession, exit, or transition plan formalized?

A

No plan

B

Yes, but it is a concept/idea

C

Yes, a written plan is in place

Question 3 of 27

3. Do you have a comprehensive tax strategy that represents your long-term goals and objectives upon exit?

A

No

B

Yes, but the plan is incomplete

C

Yes, formalized in last 2 years

Question 4 of 27

4. Have you ever had a formal business valuation completed for your business by a third-party valuation specialist?

A

No

B

Yes, but over several years ago

C

Yes, within the last year

Question 5 of 27

5. Do you know how much you want to net upon the sale of your business?

A

No

B

Yes, but analysis is not complete

C

Yes, I know the dollar amount

Question 6 of 27

6. Do you have a contingency plan in case you become incapacitated?

A

No

B

Yes, but is incomplete

C

Yes, plan is complete and updated

Question 7 of 27

7. Are your partners and/or family in agreement with your long-term plans and objectives for the business?

A

Unknown, the topic has never been discussed

B

No, there are unresolved disagreements

C

No, some disagreement but I have voting control

D

Yes, all partners/family members fully agree

Question 8 of 27

8. Do you have a strong management team in place that can execute enhancements to your current business model?

A

No experienced management team in place

B

Yes, but there are gaps in management

C

Yes, the team is capable of consistently executing at a high level

Question 9 of 27

9. Does your business have customer concentration?

A

Top 5 customers over 50% of sales

B

Top 5 customers 20-50% of sales

C

Top 5 customers 10-20% of sales

D

Top 5 customers under 10%

Question 10 of 27

10. Do you currently have a formalized strategic business plan in place?

A

No plan or budget in place

B

No, only have an annual budget

C

Yes, but is incomplete or not updated

D

Yes, complete and updated over past 2 years

Question 11 of 27

11. Are your products and/or services threatened by obsolescence, global competition, or disruptions in manufacturing?

A

Yes, product obsolescence

B

Yes, global competition but no obsolescence

C

No product obsolescence or global competition

Question 12 of 27

12. Is your key equipment up to date and in good working condition?

A

No, need significant capital expenditures to replace, expand or update

B

Need minor expenditures to replace or update

C

Equipment in good working order

Question 13 of 27

13. Are your offices or buildings adequate to serve the needs of the business over the next 3 to 5 years?

A

No, the business needs additional space now

B

Yes, but additional space will be needed in the next several years

C

Yes, our office and/or building(s) are adequate

Question 14 of 27

14. Is the industry/market in which you are compete growing?

A

Declining

B

Flat market

C

1-3% growth per year

D

4-9% growth per year

E

10% or more growth per year

Question 15 of 27

15. How competitive is your marketplace?

A

Very competitive

B

Somewhat competitive

C

Few competitors

Question 16 of 27

16. Do you have significant market share or a protected niche in the market?

A

Small market share and/or no protected niche

B

Small market share but a protected niche

C

Significant market share but no protected niche

D

Significant market share and a protected niche

Question 17 of 27

17. Are your profit margins in line with industry averages?

A

No, margins are significantly below the industry standards

B

No, margins are somewhat below industry standards

C

Yes, margins are in line with industry standards

D

Yes, margins are better than the industry

Question 18 of 27

18. Does the company have a consistent record of sales and profit growth?

A

Sales and profit growth flat or down

B

Sales growth up but profit growth flat or down

C

Sales growth flat or down but profit growth up

D

Growth record has been consistently positive

Question 19 of 27

19. Is the company's business seasonal?

A

Business is very seasonal

B

Minor seasonality

C

No seasonality

Question 20 of 27

20. What was the company's pre-tax profit in 2020?

A

Less than $1 million

B

$2 million to $5 million

C

$5 million to $10 million

D

$10 million to $20 million

E

Above $20 million

Question 21 of 27

21. Are your past fiscal year financials audited?

A

No, financial statements generated internally by Quickbooks or other

B

No, financial statements are compiled

C

No, financial statements are reviewed

D

Yes, financial statements are audited

Question 22 of 27

22. Do you utilize any type of key performance indicators?

A

No

B

I have been thinking about implementing but haven’t to date

C

Yes, but not on a regular basis

D

Yes, they are used monthly

Question 23 of 27

23. Do you currently have a formal advisory board?

A

No

B

I have been thinking about implementing but haven’t to day

C

I meet regularly with my accountant

D

I meet regularly with my peer to peer forum

E

Yes, and meet at minimum quarterly

Question 24 of 27

24. Are the majority of business exits planned or not planned by owner(s)?

A

Planned

B

Not Planned

Question 25 of 27

25. Can you describe how you look at your role within your business?

A

Hard charger

B

Educator

C

Hands off

D

Builder

E

Tired and want out

Question 26 of 27

Please provide your name:

Question 27 of 27

Would you like to discuss your planning needs? If so, please provide your email contact.

Confirm and Submit