E39: Exit Planning For Your Private Practice (with Craig Goldslager)

We know how difficult it can be to place a dollar value on your private practice… you’ve built it from the ground up, and you want to make sure you’re getting a fair offer. Today, we’re chatting with Craig Goldslager of Utterly Financial, who has a passion for helping private practitioners prepare a strategy for retirement and exiting their business! Craig Goldslager is a graduate of the University of Miami Herbert Business School and has received a Master of Business Administration from Nova Southeastern University. He is also the creator of Utterly Financial, a financial company that was founded on helping private practice owners plan for an exceptional retirement. HIGHLIGHTS: What is an Exit Plan? Creating a strategy to exit your business - can be a written-out plan or a general outline Generally developed with a financial team and the private practice owner "Begin with the end in mind!" Set yourself up for success by creating an exit strategy early Ask yourself... Who will be my successor? How do you want to exit your business? How much will you sell the business for? How to determine your value? Sellers Discretionary Earnings - tells you the health of the business and provides you with a number that your financial advisor will use to develop the value based on a number of additional factors LINKS & RESOURCES: GreenOak Accounting Therapy For Your Money Podcast Utterly Financial - Craig Goldslager SLP Money Podcast Rocket Fuel by Gino Wickman