Name *

First Name

Last Name

1.) Do you have a succession, exit or transition plan defining your eventual exit from the business?

a. Yes, a plan is in place

b. Yes, but the plan is incomplete

c. No plan

2.) Do you have a comprehensive tax strategy that integrates your long-term goals and objectives with your eventual exit?

a. No

b. Yes, but the plan is incomplete

c. Yes

3.) Do you know how much you need, not want, to net, if and when you exit your business?

a. Yes

b. No

c. Yes, but analysis is incomplete

4.) Have you ever had a formal business valuation completed for your business?

a. No

b. Yes, within the last year

c. Yes, but over a year ago

5.) Do you have an estate plan?

a. No

b. Yes, but it's over 5 years old

c. Yes, my estate plan is current

6.) Do you have a contingency plan in case you become Incapacitated?

a. No

b. Yes, but is incomplete

c. Yes, plan is complete

7.) Are your partners and/or family in agreement with your long-term plans and objectives for the business?

a. Yes, all partners/family members fully agree

b. No, some disagreement but I have voting control

c. No, there are unresolved disagreements

d. Unknown, the issue has never been discussed

8.) Do you have a strong management team in place?

a. Yes, team capable of running business without me

b. Yes, but I’m worried about retention of my team

c. Yes, but there are gaps in management

d. No experienced management team in place

9.) Does the business have customer concentration?

a. Top 5 customers under 10%

b. Top 5 customers 10-20% of sales

c. Top 5 customers 20-50% of sales

d. Top 5 customers over 50% of sales

10.) Do you have a strategic business plan?

a. Yes

b. Yes, but is incomplete or not updated

c. No, only have an annual budget

d. No plan or budget in place

11.) Are your products/services threatened by obsolescence or global competition?

a. Yes, global competition

b. Yes, product obsolescence

c. No product obsolescence or global competition

12.) Is equipment up to date and in good working condition?

a. Equipment in good working order

b. Need minor expenditures to replace or update

c. No, need significant capital expenditures to replace, expand or update

13.) Are your offices or buildings adequate to serve the needs of the business?

a. Yes, our office and/or building(s) are adequate

b. Yes, but additional space will be needed in the next several years

c. No, the business needs additional space now

14.) Is the industry/market in which you compete growing?

a. Declining

b. Flat market

c. 1-3% growth per year

d. 4-9% growth per year

e. 10% or more growth per year

15.) How competitive is your marketplace?

a. Few competitors

b. Somewhat competitive

c. Very competitive

16.) Do you have significant market share or a protected niche in the market?

a. Small market share and/or no protected niche

b. Small market share but a protected niche

c. Significant market share but no protected niche

d. Significant market share and a protected niche

17.) Are your profit margins in line with industry norms?

a. Yes, margins are better than the industry

b. Yes, margins are in line with industry benchmarks

c. No, margins are somewhat below industry standards

d. No, margins are significantly below the industry standards

18.) Does the company have a consistent record of sales and profit growth?

a. Growth record has been consistently positive

b. Sales growth flat or down but profit growth up

c. Sales growth up but profit growth flat or down

d. Sales and profit growth flat or down

19.) Is the company’s business seasonal?

a. No seaonality

b. Minor seasonality

c. Company is very seasonal

20.) What was the company’s pre-tax profit in 2021?

a. Less than $1 million

b. $1 million to $2 million

c. $2 million to $5 million

d. Over $5 million

21.) Are your financial statements audited? Do you prepare annual forecasted projections and budgets?

a. Yes, financial statements are audited and annual forecast are prepared.

b. No, financial statement are reviewed. No forecasted financials or budgets.

c. No, financial statements are compiled

d. No, financial statements generated internally by Quickbooks or other

22.) Do you understand your business tax classification? (C-Corp, S-Corp, Partnership, Sole Proprietorship)?

a. No

b. Yes, at the time, but several objectives or circumstances have changed. I no longer know if it is the optimal tax classification.

c. Yes, I understand my company’s tax classification and why it is the most optimal tax classification for my business

23.) Has your company had any material lawsuits?

a. No

b. Yes, but lawsuit was settled over 5 years ago

c. Yes, company was sued in the last 5 years

d. Yes, company is currently a defendant in a minor lawsuit

e. Yes, company is currently a defendant in a major lawsuit

24.) Does the company have sufficient business insurance to cover Potential liabilities?

a. Yes, company has sufficient insurance

b. Yes, but insurance analysis has not been performed in the last 3 years

c. Yes, company has some coverage but has known gaps

d. No insurance coverage

25.) How dependent is the credit of the business on personal guarantees??

a. Not at all

b. Somewhat contingent on personal guarantees of owner

c. Completely dependent on personal guarantees of owner