Growth & Exit Planning
Jim embraced growth and exit planning for clients early in his career. As a Certified Exit Planner (CExP), Jim provides an evolved level of services by planning for clients to optimize their outcomes rather than only drafting transaction documents in a reactive manner when business owners elect to sell their business. Jim performs the following growth and exit planning services for clients:
Comprehensive Due Diligence: Comprehensive due diligence on all significant personal and business related matters. Identifies matters that require attention or correction and opportunities for meaningful improvements. Such services include a complete legal audit.
Virtual Data Room: Create virtual due diligence data room containing all relevant personal and business documents. Correct or create new documentation that is necessary or advisable. Upon completion, virtual data rooms are ready to be presented to other advisors or to potential acquirers at the right time.
Collaboration: Assemble and work closely with persons in other professional disciplines to collaborate with respect to strategies to achieve optimal outcomes for business owners. Such persons may already be engaged by the business owner or recommendations may be made to the business owner to add or to replace certain professionals to have the appropriate sophistication to identify and to implement the best ideas to achieve the optimal outcome. Jim schedules, participates in and moderates communications with all professionals to produce recommendations that are clearly expressed with respect to responsible parties, scope, costs, timeline, and the disproportionate benefit when compared to costs. Jim then presents such recommendations to the business owner who selects which recommendations to implement.
Implement Plan: Next, Jim manages the process of implementing all recommendations. The business owner can remain focused in the business while Jim leads the team to implement the plan. Regular reports to, and discussions with, the business owner ensure that the team remains of a single mind with respect to goals and objectives that may shift over time.
The objective may be to transfer the business to an employee, a group of employees, a single child, multiple children, other relatives or to outside third parties. The objective may involve the simultaneous consideration of multiple alternative outcomes to improve the chances of achieving the identified optimal outcome. Jim develops detailed transaction structures of each considered alternative and Jim reviews the structures with the business owner and the other members of the multi-disciplinary team. The transaction structures are then refined to minimize taxes, maximize net proceeds and to minimize risks of post-closing liabilities.
Engineer Exit: Jim then engineers the exit transaction by helping as necessary to identify buyers and to secure financing. Jim performs any activity that is best performed by him or his team at Dinsmore to achieve the optimal outcome. If other involved parties are more capable to perform a certain task, Jim encourages such party to proceed. Jim recognizes and encourages the proper use of each person's experience, judgment, talents, skills and networks in a collaborative environment to achieve the optimal outcome.
Close Exit Transaction: Jim drafts or revises the term sheet or letter of intent and then the acquisition agreement and all related transaction documents. Jim negotiates the provisions of such documents with opposing legal counsel with intensity and determination to reduce the chances of post-closing issues that may require a return of a portion the purchase price to the buyer.
Onward – Post-Closing Activities: After the closing, Jim continues to work with the former business owner to consider new opportunities for happiness and fulfillment. Such opportunities include creation of new for profit businesses, work with, or establishment of, non-profit activities with charities and foundations, and public service.
Jim coordinates with estate planning attorneys, financial planners, and insurance professionals to ensure that the business owner's needs are satisfied. Asset protection strategies are considered and implemented.
Comprehensive Due Diligence: Comprehensive due diligence on all significant personal and business related matters. Identifies matters that require attention or correction and opportunities for meaningful improvements. Such services include a complete legal audit.
Virtual Data Room: Create virtual due diligence data room containing all relevant personal and business documents. Correct or create new documentation that is necessary or advisable. Upon completion, virtual data rooms are ready to be presented to other advisors or to potential acquirers at the right time.
Collaboration: Assemble and work closely with persons in other professional disciplines to collaborate with respect to strategies to achieve optimal outcomes for business owners. Such persons may already be engaged by the business owner or recommendations may be made to the business owner to add or to replace certain professionals to have the appropriate sophistication to identify and to implement the best ideas to achieve the optimal outcome. Jim schedules, participates in and moderates communications with all professionals to produce recommendations that are clearly expressed with respect to responsible parties, scope, costs, timeline, and the disproportionate benefit when compared to costs. Jim then presents such recommendations to the business owner who selects which recommendations to implement.
Implement Plan: Next, Jim manages the process of implementing all recommendations. The business owner can remain focused in the business while Jim leads the team to implement the plan. Regular reports to, and discussions with, the business owner ensure that the team remains of a single mind with respect to goals and objectives that may shift over time.
The objective may be to transfer the business to an employee, a group of employees, a single child, multiple children, other relatives or to outside third parties. The objective may involve the simultaneous consideration of multiple alternative outcomes to improve the chances of achieving the identified optimal outcome. Jim develops detailed transaction structures of each considered alternative and Jim reviews the structures with the business owner and the other members of the multi-disciplinary team. The transaction structures are then refined to minimize taxes, maximize net proceeds and to minimize risks of post-closing liabilities.
Engineer Exit: Jim then engineers the exit transaction by helping as necessary to identify buyers and to secure financing. Jim performs any activity that is best performed by him or his team at Dinsmore to achieve the optimal outcome. If other involved parties are more capable to perform a certain task, Jim encourages such party to proceed. Jim recognizes and encourages the proper use of each person's experience, judgment, talents, skills and networks in a collaborative environment to achieve the optimal outcome.
Close Exit Transaction: Jim drafts or revises the term sheet or letter of intent and then the acquisition agreement and all related transaction documents. Jim negotiates the provisions of such documents with opposing legal counsel with intensity and determination to reduce the chances of post-closing issues that may require a return of a portion the purchase price to the buyer.
Onward – Post-Closing Activities: After the closing, Jim continues to work with the former business owner to consider new opportunities for happiness and fulfillment. Such opportunities include creation of new for profit businesses, work with, or establishment of, non-profit activities with charities and foundations, and public service.
Jim coordinates with estate planning attorneys, financial planners, and insurance professionals to ensure that the business owner's needs are satisfied. Asset protection strategies are considered and implemented.