CPA Gary Merz reveals 3 step exit strategy to help business owners plan when selling their small business in Olympia, Washington

Gary Merz CPA of Budd Bay CPA INC. PS has just revealed how he is helping small business owners exit their business on their terms. For more information please visit http://www.bbaycpa.com/

Olympia, Washington, United States - December 14, 2017 /MM-REB/ —

CPA Gary Merz of Budd Bay CPA INC. PS, an expert in small business exits, has just revealed how an increasing number of small business owners are struggling to prepare for a business exit.

For more information visit http://www.bbaycpa.com/

This upsurge in small business sales seems to be due to the many baby boomers who are now looking to retire.

When asked for the reason behind this issue Merz puts it down to 3 key missing ingredients.

1. The “Why Sell?” Question

Something that Mr. Merz highlights as a hidden issue that can cause problems down the track is where clients don’t understand their real motivations behind the sale of their businesses.

To combat this Merz makes a point of starting with the “Why sell?” question at the beginning of a client engagement.

“Clients who come to me have different reasons for wanting to sell their business and understanding their ‘why’ is pivotal in a successful exit.”

“Reasons to exit a business can range from ensuring that they have the right level of cash flow in later life to spending more time with their family” he said.

2. The “What do you want?” Question

Another key area Mr. Merz highlights is how many business owners don’t have a clear idea of ‘what’ they want from the sale of their business.

For example, Merz ascertains in detail what his clients want from selling their businesses and when they would like to sell – which can often be five or ten years into the future.

Again without getting to the bottom of this Merz finds people often under prepare for their exit and miss their financial and personal goals.

When asked what his clients typically looked for in a sale, Mr. Merz said, “Some of my clients wish to remain involved in their companies after selling, and some wish to exit their investment completely, while others want to leave a legacy and pass the business onto family members.”.

3. The Exit Strategy

When someone understands their ‘Why’ and their ‘What’ it’s much easier and usually more likely that an exit strategy will be successful.”

“The key then is to create a plan that will make sure the business owner exits successfully”, Merz said.

‘The Plan’ as Merz likes to refer to it is the final thing that he sees business owners struggling with.

When asked to comment he said, “In my experience most exit plans don’t do enough in terms of exit preparations.”

When asked to elaborate, Mr. Merz said, “I use something called The Blue Ocean Strategy from W. Chan Kim and Renée Mauborgne.”

This strategy encourages business owners to create a “blue ocean” or an “uncontested marketplace” improving business success and performance.

“This proven approach combined with goals set out by my clients and my knowledge of the marketplace allows me to come up with a medium- to long-term exit strategy. At the end of the day, this plan adds value to the sale of the business,” Mr. Merz said.

For more information visit http://www.bbaycpa.com/

Contact Info:
Name: Gary Merz
Organization: Budd Bay CPA INC. PS
Address: 605 11th Ave SE, Olympia, WA 98501, USA
Phone: 360-786-9515

For more information, please visit http://www.bbaycpa.com/

Source: MM-REB

Release ID: 278103