OCTOBER 2018 | #39-C FINANCIAL FOCUS *Security Bank and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only and should not be relied upon to obtain financing, a definitive valuation for your business or for any other purposes. Last month, we sent out an article entitled, “Here’s Why You Should Have a Succession Plan for Your Business” that talked about various considerations of what is next for your business when you exit it either voluntarily or involuntarily. Most businesses have a lot of moving parts that need to be addressed when developing a plan. A couple points stood out to us that we think all business owners should consider further: We feel very strongly that adopting various best practices along the lines of the points above and other points in last month’s article is what will yield the maximum number of options available when the business does come to that crossroads of selling, transferring to the next generation, or shutting down altogether. Regardless of the end result desired, strategy should be put in place to facilitate a graceful exit or transition. One tool available from Security Bank is a worksheet to help you as a business owner to estimate the value of your business in a systematic way. Regardless of what the future plans might be, knowing the business’ value may shed light on a clearer path to take. If you are interested in working through this exercise or would like to know more, please fill out the enclosed postage-paid postcard and mail it back to us. One of our commercial lenders will promptly contact you to visit further. KEITH KNUDSEN PRESIDENT/CEO | SECURITY BANK KNOWING THE VALUE OF YOUR BUSINESS CAN IMPACT ALL YOU DO... We have the too to make them easier... What does the current owner do, and who will be the person to take over these tasks if “X” occurs? To quote the article, “It’s best to adopt a practice of perpetually running your business as if you’re ready to sell any day, making it as efficient, productive, and profitable as possible.” Our lenders are here for you! QUESTIONS? www.mysecbank.com 1

KNOWING THE VALUE OF YOUR BUSINESS · estimate the value of your business in a systematic way. Regardless of what the future plans might be, knowing the business’ value may shed

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Page 1: KNOWING THE VALUE OF YOUR BUSINESS · estimate the value of your business in a systematic way. Regardless of what the future plans might be, knowing the business’ value may shed

OCTOBER 2018 | #39-C

FINANCIALFOCUS

*Security Bank and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes

only and should not be relied upon to obtain financing, a definitive valuation for your business or for any other purposes.

Last month, we sent out an article entitled, “Here’s Why You Should Have a Succession Plan for Your Business” that talked about various considerations of what is next for your business when you exit it either voluntarily or involuntarily. Most businesses have a lot of moving parts that need to be addressed when developing a plan.

A couple points stood out to us that we think all business owners should consider further:

We feel very strongly that adopting various best practices along the lines of the points above and other points in last month’s article is what will yield the maximum number of options available when the business does come to that crossroads of selling, transferring to the next generation, or shutting down altogether. Regardless of the end result desired, strategy should be put in place to facilitate a graceful exit or transition.

One tool available from Security Bank is a worksheet to help you as a business owner to estimate the value of your business in a systematic way. Regardless of what the future plans might be, knowing the business’ value may shed light on a clearer path to take.

If you are interested in working through this exercise or would like to know more, please fill out the enclosed postage-paid postcard and

mail it back to us. One of our commercial lenders will promptly contact you to visit further.

KEITH KNUDSENPRESIDENT/CEO | SECURITY BANK

KNOWING THE VALUE OF YOUR BUSINESSCAN IMPACT ALL YOU DO...

We have the tools to make them easier...

What does the current owner do, and who will be the person to take over these tasks if “X” occurs?

To quote the article, “It’s best to adopt a practice of perpetually running your business as if you’re ready to sell any

day, making it as efficient, productive, and profitable as possible.”

Our lenders are here for you!QUESTIONS?

www.mysecbank.com 1