Small Business

  • 80% to 90% of Baby Boomer net wealth is trapped in their business.
  • 75% of business owners plan to transition in the next 10 years.
  • 83% of business owners have no written transition plan.
  • 66% of business owners are not familiar with the full range of exit options.

    Source: Exit Planning Institute, 2013 State of Owner Readiness Survey

At Westminster we advise our small business clients to look forward by looking backward.

That is, we start with the client's ultimate desired outcome in mind. We know that too many business owners never realize their dreams and visions, and the failure is not due to a lack of effort or a dearth of financial information. Rather, the main cause of coming up short is a lack of clarity around the big picture, often worsened by a myopic pursuit of short-term goals.

By focusing on maximizing the value of the business at transition time, we draw up a roadmap on which to chart out today's business decisions.

In so doing, we effectively align your business strategy with your exit strategy.

This alignment informs the writing of a business plan that's not only smart but also wise.


Here's how we do it.


1. Determine where you are now. What is the value of your business today?

2. Define exactly what you want. What price should you expect at transition time?

3. Establish the gap between the two. This is your business-value gap.

4. Make a plan to implement change. This is the roadmap to your future.

5. Follow up. You can't get there without periodically assessing progress.

The last step is the key that unlocks the full rewards of our methodology. Your business is an engine that can drive value every working day. By monitoring how you're doing and continually improving your approach - not just once per year but all year long -value grows and goals are reached.


Tools we use:

Financial Reporting that's timely and goes beyond the industry standard, applying regional and national benchmarks to every aspect of your operation.

Metric Reporting that sheds meaningful light on non-financial factors, yielding evidence-based growth projections and pointing the way to long-term success.

Tax Planning that's fine-tuned throughout the year, identifying tax savings opportunities that eliminate the possibility of a year-end tax surprise and let you keep more of your earnings.

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