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Step # 1: Business Exit Strategies

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Step #1

 Your 5 Exit Choices:

Your 5 Exit Choices:

  Sale to an independent 3rd Party (Outside buyer)

Transfer to insiders (Co-Owners or Employees:

Transfer to Children

 Employee-Owned Cooperative

Closing Your Doors

There is actually a 5th path, and that is when business owners simply close their doors, and no transfer of the business takes place. Unfortunately, with this option, owners leave valuable years of repeat clients, established professional relationships, and dedicated employees to simply disappear once the company doors are closed. There is another way! You can plan for your eventual exit. 

Time is our most precious commodity. For business owners, it can be difficult to convince owners to take time out of their already busy schedules to work on their business, not just in it. Planning a strategic ownership transition for your company is your role as an owner, and we can review steps that need to be taken to get there.

There are many different ways to execute an exit plan and various routes a business owner can successfully exit from their business. However, to obtain that successful exit, owners must avoid the pitfall of waiting to start planning until the point at which they are ready to exit. By creating a plan in advance, the process of planning will be more efficient and effective.

We offer an Exit Planning Assessment tool that allows business owners to understand the steps they need to take to where they want. By outlining the process, timeline, and necessary steps to an effective exit plan, owners can gain a clear understanding of the path ahead and the action items that will need to achieve an owner’s goals for their future and that of their company.

Your Assessment Summarizes Four Key Areas of Exit Planning

  • Operations

  • Finance

  • Revenue/Profit

  • Business continuity and estate planning

These are the key areas that most affect:

  • Timing

  • Proceeds

  • Options for Transferring the Business

It’s Time to Make the Time

Exit Planning can feel stressful and overwhelming to business owners because they often don’t know where to begin. The key is to start that conversation and laying the groundwork today so that contractors have adequate time to reach those goals.

A Questionnaire To Get You Started

I utilize The ExitMap Assessment to help clients start the planning process so they have a clear understanding of their current level of exit preparedness.

 
 

Go To Step #2

Determine the Value of Your Business