Exit Planning Questions

Planning your business exit? Our Exit Planning Questions help you assess your readiness to step back or sell your business. From succession planning and financial preparedness to operational stability and valuation, this questionnaire guides you through critical considerations for a smooth transition. Whether you’re selling, transferring ownership, or creating a contingency plan, understanding your exit options is essential.

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Your Information

Name(Required)

First Last

Company Name(Required)

Who are you working with from our office?(Required)

Phone(Required)

Email(Required)

Time Frame Modifiers

1. I would like to step back from the day-to-day management of my business:(Required)

In the next year

In 1-3 years

In 3-5 years

In 5+ years

I already have

2. I would like to walk away from my business completely:(Required)

In the next year

In 1-3 years

In 3-5 years

In 5-8 years

In 8+ years

Essentials

1. My decision-making team consists of:(Required)

a. Only me

b. Several supervisors

c. Managers in key areas

d. Independent decision-makers running all areas of the business

e. Executives developing all strategies as guided by my vision

f. An independent board of directors

2. My plan for the eventual transfer of my company is:(Required)

a. I’m not really sure

b. To close down completely when I am ready to leave

c. To transfer ownership to a family member

d. Transfer ownership to an employee

e. To put it up for sale to a third party

f. I already have an agreement with a qualified buyer

3. I know what the post-tax proceeds of exiting need to be because:(Required)

a. I have a general idea of how much I’ll need and am confident it will be enough

b. I have calculated my future income from my current assets combined with the proceeds from the sale of my company

c. I’ve calculated my future income needs including lifestyle, life expectancy, and inflation assumptions

d. I have had a Certified Financial Planner calculate the needs including lifestyle, life expectancy, and inflation assumptions

e. I have a professional projection of future needs and have compared them to my business valuation and projected tax liabilities

f. I do not know what the post-tax proceeds will be

4. I know my company's current market value, because:(Required)

a. I have no idea what the value of my business is

b. I have a figure in mind that I need to retire, and I know it is worth at least that

c. I’ve talked to other people who sold their companies and know what companies like mine should sell for

d. My accountant or financial planner researched comparative sales

e. I have an independent valuation of the business

5. I will handle the taxes on the transfer of my business by:(Required)

a. I haven’t looked at the tax implications

b. I plan to just add the tax burden to my target net price

c. I assume I’ll just pay capital gains tax

d. I assume I’ll just pay ordinary income tax

e. I’ve had a CPA analyze the tax consequences of a sale

6. I think the most likely buyer for my business is:(Required)

a. I don’t know

b. Another entrepreneur or a competitor

c. Family members already engaged in the business

d. Partners or employees who currently manage the business

e. A clearly identified strategic buyer

7. The diversification of our revenues by customer is:(Required)

a. Not really diversified. 50% or more comes from one customer

b. Somewhat diversified with a few customers that account for most of our business

c. In line with the Pareto Principle. 80% of our business is from 20% of our customers

d. Fairly diversified. No one customer accounts for more than 10% of our business

e. Very diversified. No one customer accounts for more than 5% of our business

8. Most of my customers:(Required)

a. Are driven by price and will buy from whomever makes the best deal

b. Appreciate service, but focus on cost

c. Return year after year and increase their spending

d. Are committed to long-term, written purchase contracts

e. Can get what they need only from my company

9. My key employees are:(Required)

a. Irreplaceable. They have unique skills vital to our survival

b. Employed at will, under verbal understandings

c. Employed with written agreements and incentives

d. Employed under non-compete and confidentiality agreements

e. Employed with long-term incentives that vest and accrue if the business is successful

10. The plan for the business in the event of my death or disability is:(Required)

a. I don’t know

b. My partners, employees, or family will have to take over

c. To sell it as quickly as possible or shut it down

d. I have a mutual management agreement with a colleague or competitor to take over in my absence

e. We have a plan to bring in experienced interim management with full instructions on a transition

11. The documentation of our systems and processes for operations, human resources, and administrative functions are:(Required)

a. Mostly verbal

b. Written, but bear little resemblance to what we actually do

c. Written, but somewhat out-of-date

d. Fully documented, but not always followed on a day-to-day basis

e. Fully documented, updated, and required to be followed in all areas

12. My typical work week is:(Required)

a. Over 60 hours

b. 55-60 hours

c. 45-55 hours

d. 40-45 hours

e. Less than 40 hours but greater than 20 hours

f. Less than 20 hours

13. Our revenues are:(Required)

a. Declining for three years or more

b. Up-and-down from year-to-year

c. Flat for three years or more

d. Growing slightly over the last three years

e. Growing strongly over the last three years

14. Our profit margins are:(Required)

a. Declining for three years or more

b. Up-and-down from year-to-year

c. Flat for three years or more

d. Growing slightly over the last three years

e. Growing strongly over the last three years

15. Our financial performance against industry (NAICS or SIC Code) standards are:(Required)

a. I don’t know

b. Bottom quartile

c. About average

d. Top quartile

e. Top 10%

16. In the event of my sudden absence from the business, my documented contingency plan for operations includes:(Required)

a. We do not have a documented contingency plan

b. A documented list of responsibilities that my managers can handle

c. A documented succession plan for managers with written retention incentives for key staff

d. Documented succession and retention plans, plus instructions for governance and continuation of family income

e. Complete contingency planning, including insurance to retire debt and fund working capital

17. Are employee goals and reviews aligned with the company's mission, vision, and values?(Required)

a. We do not have formal employee goals or performance reviews

b. We do formal employee reviews and set goals, but we don’t have a clear company mission or vision

c. We have employee goals and reviews, but they are not necessarily developed around our mission or vision

d. We have employee goals and reviews, developed around our main mission or vision

e. All employee development and incentives are aligned with specific short and long-term company objectives

18. How dependent is the business credit on your personal guarantees?(Required)

a. I personally guarantee all business debt

b. I have guarantees on some, but not all business debt

c. I guarantee real property but do not have personal guarantees on leases or credit lines

d. The business has no debt

e. The business can incur any necessary debt without the need for personal guarantees

19. Our technology policy is to:(Required)

a. Replace things when they fail

b. Purchase upgrades when the vendor discontinues support

c. Upgrade as the need arises, or for clear improvements in productivity

d. Budget and implement upgrades on a planned defined schedule

e. Stay near the leading edge, constantly seeking the next improvement

20. After I leave my company, I am planning to(Required)

a. I don’t know

b. Do something or nothing. Just take it day by day

c. Take up a hobby or work for a non-profit

d. Get a job

e. Start another company

f. Pursue my life’s passion

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