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BXO Masterclass Consult Questionnaire

Congratulations on completing the course work for the Art Of The Exit Masterclass Mastery Series.

In preparation for your one-hour consultation, please complete the following questionnaire. At the end of the questionnaire, it will require you to upload your Masterclass Worksheet to review during your consult. 

     

PLEASE ANSWER QUESTIONS AS ACCURATELY AS POSSIBLE.

 

Click the button below to start your BXO Masterclass Consult Questionnaire.

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Tell Us About You and Your Business

It will be helpful during our discussion to understand how your business is structured.

 

Question 2 of 36

1. Please tell us your name:

Question 3 of 36

2. Can you describe how you view your role within your business?

A

Hard Charger

B

Educator

C

Hands Off

D

Builder

E

Tired and want out

Question 4 of 36

3. Are you the only owner of the business?

A

Yes

B

No

Question 5 of 36

4. If not, please list partners and percentage ownership.

Question 6 of 36

5. What is your current age and what age do you want to exit?

Question 7 of 36

6. Describe your business, products/services, and current industry.

Question 8 of 36

7. When was your business founded?

Question 9 of 36

8. What is the legal formation of your company?

A

S-Corp

B

C-Corp

C

LLC

Question 10 of 36

9. If you were to sell your business, what dollar amount do you think you would need net of fees?

Question 11 of 36

10. Do all of the owners agree about the possible sale of the business?

A

Yes

B

No

Question 12 of 36

11. Do you have a contingency plan for your business if something were to happen to you?

A

Yes

B

I do, but not formalized

C

No

Question 13 of 36

12. Do you have an operating agreement that has been updated in the last three years for your business?

A

Yes

B

No

Question 14 of 36

13. Do you have an updated buy-sell agreement in place currently between all owners of the business?

A

No

B

Yes, but not formalized

C

Yes

Question 15 of 36

14. What Ultimate Goals would you like to accomplish as part of the transfer of your business? Please check the following:

(Select all that apply)
A

Get full value for my business to fund my retirement or other business interests.

B

Transfer wealth to my children or grandchildren.

C

Provide benefit to my managers and employees.

D

Maintain the long-term viability of the business.

E

Minimize or eliminate capital gains taxes.

F

Continuing to work at the company.

G

Retaining a minority equity interest in the company.

Question 16 of 36

15. When would you like to transfer ownership in the company?

A

Under six months

B

Six months to 1 year

C

1 to 2 Years

D

2 to 4 Years

E

4 Years or Longer

Question 17 of 36

16. Are there any factors that could force you to sell the business in the foreseeable future? If so, please explain.

Planning Preparedness

Understand key areas of planning that are important to your Preparedness Planning Process.

Question 19 of 36

1. Have you completed any tax planning or trust & estate planning?

(Select all that apply)
A

No

B

Yes, but it has been longer than 3 years

C

Yes, my estate plan is current (2 Years or earlier)

Question 20 of 36

2. Do you have a formalized succession, exit, or transition plan?

A

No plan

B

Yes, but concept/idea

C

Yes, a written plan is in place

Question 21 of 36

3. Do you have a comprehensive tax strategy that represents your long-term goals and objectives upon exit?

A

No

B

Yes, but the plan is incomplete

C

Yes, formalized in the last 2 years

Question 22 of 36

4. Have you ever had a formal business valuation completed for your business by a third-party valuation specialist?

A

No

B

Yes, but over several years ago

C

Yes, within the last year

Business Operations and Revenues

Tell us about the current condition of operations and revenues for the company.

Question 24 of 36

1. Do you have a strong management team in place that can execute enhancements to your current business model?

A

No experienced management team in place

B

Yes, but there are gaps in management

C

Yes, the team is capable of consistently executing at a high level

Question 25 of 36

2. Does your business have customer concentration?

A

Top 5 customers over 50% of sales

B

Top 5 customers 20-50% of sales

C

Top 5 customers 10-20% of sales

D

Top 5 customers under 10%

Question 26 of 36

3. Do you currently have a formalized strategic business plan in place?

A

No plan or budget in place

B

No, only have an annual budget

C

Yes, but is incomplete or not updated

D

Yes, complete and updated over past 2 years

Question 27 of 36

4. Are your products and/or services threatened by obsolescence, global competition, or disruptions in manufacturing?

A

Yes, product obsolescence

B

Yes, global competition but not obsolescence

C

No product obsolescence or global competition

Question 28 of 36

5. What are the industry/market current growth rate trends?

A

Declining

B

Flat market

C

1-3% growth per year

D

4-9% growth per year

E

10% or more growth per year

Question 29 of 36

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

A

Small market share and/or not protected niche

B

Small market share but a protected niche

C

Significant market share and a protected niche

Question 30 of 36

7. Are your profit margins in line with industry averages?

A

No, margins are significantly below the industry strandards

B

No, margins are somewhat below industry standards

C

Yes, margins are in line with industry standards

D

Yes, margins are better than the industry

Question 31 of 36

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

A

Sales and profit growth are flat or down

B

Sales growth up but profit growth flat or down

C

Sales growth flat or down but profit growth up

D

Growth record has been consistently positive

Question 32 of 36

9. What is the company's pre-tax profit in 2020?

A

Less than $1 million

B

$2 million to $5 million

C

$5 million to $10 million

D

$10 million to $20 million

E

Above $20 million

Question 33 of 36

10. Are your past fiscal year financials audited?

A

No, financial statements generated internally by Quickbooks or other

B

No, financial statements are compiled

C

no, financial statement are reviewed

D

Yes, financial statements are audited

Question 34 of 36

11. Do you utilize any type of key performance indicators?

A

No

B

I have been thinking about implementing but haven't to date

C

Yes, but not on a regular basis

D

Yes, they are used monthly

Question 35 of 36

12. Do you currently have a formal advisory board?

A

No

B

I have been thinking about implementing but not to date

C

I meet regularly with my accountant

D

I meet regularly with my peer-to-peer forum

E

Yes, I have a formal advisory board

Question 36 of 36

13. Please upload your completed masterclass worksheet for review during your free consult.

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