Annual NCR Business Meeting and
"Built to Sell: How to Successfully Exit Your Business"
Getting Out on Top!
In November’s Vanity Fair, hip-hop mogul Jay-Z gets candid about his former life:
"I know about budgets...you
need to know what you can spend, what you need to re-up. Or if you want to start some sort of
barbershop or car wash… (t)hings you can get in easily to get out of [that]
life. At some point, you have to have an exit strategy, because your window
is very small”
Past NCR programs have addressed
practice management topics like risk management, estate planning and business
financial planning, but never focused specifically on what we can do to fortify
our consulting services firms with an eye towards retirement 10, 20, or 30
years down the line.
Most of us don’t think
about retirement until we have passed the point of doing what is required to exit
with a nest-egg generated by our investment of time and effort in our
knowledge-based firms. At every stage of our businesses, we need to think intelligently
about operating in a way that builds transferable terminal business value,
or alternatively, that produces for us a retirement income stream.
To make "monetization”
of our businesses a reality, we must build tangible and intangible assets
that have transferable value in the future. But like any investment, if we start
too late, we miss the benefit of time. For some of us a business sale may be a
viable option. For every one of us, there is benefit in planning our strategies
and actions now to build value in our service-based businesses.
Stepping Up to the Business Challenge
When you own a business, you’re
operating a vehicle that provides you and your family with income and financial
security. A successful business is
the financial engine that powers your personal goals. To achieve that success,
you must steer the business on a positive, long-term course. Effective planning will prepare both your
personal and business finances for the inevitable challenges and changes ahead.
Your personal financial plan. Coordinate
your personal and business finances to support specific goal, including
individual life and disability insurance to protect you, your family and
your key people. The loss of an owner can
have severe implications. Business insurance helps offset the loss of cash flow, cost increases and a drop
in profits if you are unable to work.
business succession plan. Is your
intention to transfer ownership to a family member, or sell to remaining owners
or an outside party? A written and funded succession plan can transfer your business in a smooth and timely manner.
Our Program Leaders
Along with Moderator Michael
Gallo of Valerysis Consulting, LLC, our expert panel includes Mary A. Adams, CMC, Founder of Smarter-Companies,
and co-author of Intangible Capital:
Putting Knowledge to Work in the 21st Century Organization;
Northwestern Mutual Financial Network; Doug Smith, Partner with B2B CFO®; and Scott W.
Taylor, Principal with the law firm SmolenPlevy.
LOCATION: LeMeridien is conveniently located in Arlington, VA. Just minutes from Washington, DC and only 0.2 miles to the Rosslyn Metro. From Metro, walk north toward Key Bridge and cross North Lynn Street.Register early (by midnight Sunday the week of the event) and get a $10 Discount.
METRO: ROSSLYN (Exit East side, left (north). L on North Moore, right (east) on 19th Street, 1.5 blocks to hotel on left.)
DRIVING: Map and Driving Directions
PARKING: Hotel underground self-parking garage; enter on Nash Street, $20.00/day. Hotel valet $25.00. On street Pay-to-Park where available.