Navigating the Exit - Tips to Sell Your Business
Podcast: Navigating the Exit – Tips to Sell Your Business
[00:01 – 09:30] Jeff Getty’s Insights on Business, Taxes, and Generational Shift
- Jeff Getty discusses Key’s Family Wealth Consulting Team and the busy year they had in 2021.
- He shares how he believes that there will be a tax change in the next few years, which will cause the sunset provisions to kick in and increase taxes for businesses.
- The biggest mistakes business owners make when selling their businesses are failing to fully grasp what the process looks like and overestimating the value of their business.
- To avoid these mistakes, business owners need to be educated on how the process works and understand their compensation before selling their businesses.
[09:31 – 26:54] Tax Planning Tips for Clients Selling Businesses
- When negotiating a purchase, it is important to understand the tax implications of the deal and to make sure that all relevant taxes have been accounted for.
- Jeff tackles how to reduce the tax burden on a business transaction.
- Serial entrepreneurs are more likely to engage in tax planning and structural changes before the sale. As a result, do a better job of building financials.
[26:55 – 35:35] Pointers to Successfully Navigate Your Exit
- Family offices are becoming a major player in the solar industry, and they are likely to continue to do so for the next 10 to 20 years.
- You need a CPA, and depending on the type of the deal, you may also need a business broker or investment banker to sell your business.
- If your business is heavy on intellectual property, you also need an IP lawyer.
[35:36 – 37:23] Closing Segment
- Strike up a conversation and work with Jeff Getty!
Louis O Connor is the Founder of Strategic Metals Invest, which is currently the only business in the world offering Rare Earths as physical assets to private investors.
Teddy Himler is a Venture Capital Partner, running a fund at Antler that focuses on what he calls emerging tech ecosystems.
Dwayne J. Clark is the Founder and CEO of Aegis Living. With more than 37 years of senior housing experience, Dwayne is nationally known for redefining the industry.
Diana Chambers is a highly respected Family Wealth Mentor and Philanthropic Advisor who established her business in the US in 2002 and subsequently in Switzerland, where she now resides.
A real estate private equity firm that owns and operates high quality multi-tenant office assets in emerging secondary markets.
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