Lane Powell Shareholders Jeff Bird and Ben Lenhart were recently interviewed for an article that appeared in the March issue of Oregon Business magazine titled “Exit Planning and the Changing of the Guard: A Value Proposition.” The article discussed the importance of having an effective exit planning strategy in place in order to capture the value that entrepreneurs and business owners have invested in their businesses so that they can exit on their own terms. Over the next decade, at least half of all businesses will experience a change of ownership. Because of this, it’s imperative for business owners to have an exit plan in place to ensure a smooth transition. As the article mentions, it’s also important for owners to have an experienced exit planning advisor at the helm guiding the exit planning process in order to maximize the value of their investment. Bird and Lenhart received their Certified Exit Planning Advisor (CEPA) designations from the Exit Planning Institute, a widely accepted and endorsed professional exit-and succession-planning program. They are two of only six total CEPAs in Oregon. Lane Powell Shareholder Lewis Horowitz also recently obtained his certification and is a CEPA in Washington. As the article states, many business owners will likely need to rely on a CEPA’s skills and experience to help with careful and strategic exit planning.
“An effective plan ensures you’re always ready and that difficult circumstances won’t adversely impact how you exit,” said Lenhart, an attorney at Lane Powell. …
… “The advantage that certified advisors offer is that we’ve seen it all and done it all,” says Bird. “We bring experience to the table in addition to our understanding of the pitfalls and dangers that can derail the process.”