8 Question Planning Assessment This Assessment is the first step in our 3-part process to help evaluate if you and your business are ready for a transition event. STEP ONE – Please complete questionnaire Name* First Last Email* Company Name*Referring Advisor1. When do you plan to transition out of your business?*I plan to work until the day I’m no longer able to work because of disability or death.More than 10 years.In the next 6 to 10 years.In the next 3-5 years.In less than 2 years.2. What is your preferred method for transitioning out of your business?*I have no idea and do not really know my options.I plan to keep the business and become a passive owner.I plan to transition the business to family or employees.I plan to sell to a third-party buyer that I already knowI plan to sell to a third-party buyer and I need help finding the right buyer to meet my personal goals.3. What do you need to complete your transition plan?*No idea so I need a lot of help planning.I have ideas but need help to finalize them.I have done some planning but still need several of the following: business valuation, advisory team, estate plan, financial plan, value enhancement plan, tax plan, contingency planI have done a lot of planning but still need one or more of following: business valuation, advisory team, estate plan, financial plan, value enhancement plan, tax plan, contingency planI do not need to do any planning.4. Do your current Advisors have enough experience to help you with all aspects of planning for your business transition? (This could include: estate planning, financial planning, value enhancement, tax planning, exit options analysis or contingency planning.)*No, I can figure it out on my own without any advisors.No, I rely on my trusted advisor to take care of everythingNot sure: I have advisors, but don’t know if they are qualified to do transition planning.Yes, my advisors are qualified in transition planning and cover all aspects of the planning process.No, I would like help making sure I have the right team of advisors.5. Do you know the value of your business and if it will meet your personal financial needs?*I have no idea what the business is worth or what I personally need out of it.I know what the business is worth but I am not sure it can meet my needs.I know what I personally need, but I am not sure if my business can provide that if I sell it.The sale price and terms are not that important because I will not be relying on that for my retirement or to meet any personal goals.I have an idea of what my business is worth and I am comfortable that the value will meet my needs but want to be sure I get it.6. Do you have a specific plan regarding what you would like to do after you transition from your business?*No, I have not thought about it.I have an idea but have not discussed it with anyone.I have a plan and have discussed it with family.I have a plan and have discussed it with my family and my advisorsI have a documented “life after the business” plan7. Have you tried to sell your business?*No, I have not.No, I have received proposals, but have never acted on them.Yes, I tried years ago, but it didn’t work out.Yes, I tried and was not successful.Yes, I tried and was not successful, and now recognize that I need help.8. How motivated are you to do what it takes to have a successful transition?*Not at all, I have not started thinking about it.A little, I have thought about but am not ready to do anything now.Somewhat, I will start working on it when the time is right.Quite a bit, I am ready to start the process soon.Very, I am ready to start the process today.