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CEPA Study Guide – Questions & Correct Solutions
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CEPA Study Guide – Questions & Correct SolutionsAn exit plan asks and answers all the business, personal, ____, _____, and _____
questions involved in transitioning a privately owned business. Right Ans -
Financial, legal, tax
Exit Plan includes contingencies for illness, ____, _____, and _____. Right Ans -
Burnout, divorce, death
Exit Planning's purpose is to ______ the _____ of the business at the time of _____,
minimize _____, and ensure the owner is able to accomplish of their personal
and _______ goals in the process Right Ans - Maximize, value. Exit. Taxes.
Financial.
Exit Planning combines the ____, _____, _____, and _____ into a clear, simple
strategy to build a business that is transferable through strong human,
structural, customer, and social capital. Right Ans - Plan, concept, effort,
and process.
Exit Planning combines the Plan, concept, effort, and process. into a clear,
simple strategy to build a business that is transferable through strong _____,
_____, _______, and ______ capital. Right Ans - human, structural, customer, and
social capital.
Exit Planning is simply _____ _____ ______. Right Ans - Good Business Strategy
Blue Ocean Right Ans - An industry not in existence today
One year after selling _____ out of _____ owner "profoundly regretted" selling
Right Ans - Three out of four
____% to ____% of business put on the market don't sell Right Ans - 70% to
80%
Only ___% of family owned businesses survive into the second generation
Right Ans - 30%
___% of business owners are not familiar with all exit options Right Ans -
66%
, ___% of business owners have no formal exit plan Right Ans - 78%
___% of business owners have no written transition plan Right Ans - 83%
___% of business owners have done no planning at all Right Ans - 49%
___% of business owners have no formal life plan after the sell Right Ans -
93%
Value Innovation Right Ans - Is a new way of thinking about and executing
strategy that results in a blue ocean and a break from the competition.
Leap In Value Right Ans - Focus on making competition irrelevant by
creating a ____ in _____.
Baby boomers own ____% of the private businesses in the US Right Ans -
63%
___% of boomers plan to transition their business over the next 10 years.
Right Ans - 76%
The boomer transfer represents ____ million businesses and over $___ trillion
of wealth Right Ans - 4.5. $10 Trillion
Mission of CEPA and EPI is to: Right Ans - Create awareness
Foster team play
Adopt a process
Challenge to overcome: Boomers don't want to____. Right Ans - Exit
Challenge overcome: ___% of exits are caused by the five ___'s (____, ____, ____,
____, _____). Right Ans - D's - Death, disability, divorce, Distress,
Disagreement)
Owners are leaving money on the table because they are focused on _____
generation, not _____ value. Right Ans - Income generation. Enterprise
value.
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