EXIT STRATEGIES; DO YOU HAVE ONE!?

A great amount of real wealth is created when entrepreneurs sell their business. The secret behind ultra-successful entrepreneurs is their development and implementation of an exit strategy and timetable of events beginning with the start their business.

The good news is the short and long term successes are not mutually exclusive. Exit planning is absolutely necessary because your business will transfer in your lifetime or upon your death. Depending on your goals, the type of business you own and the way you grow your company, they should all be aligned with your exit strategy.

When you properly build your business with a defined exit plan, you can maximize short term revenues and profits while preparing the company for a multi-million dollar exit. An overview of some business exit strategies to contemplate and pursue:

• Selling to an Acquirer
• Selling to a Friendly Buyer
• Transferring Ownership to Family
• Merger
• Liquidation of Assets
• Initial Public Offer

Take the time now, to develop an appropriate business exit strategy, to build a business that has value to others, and to exit the company with the end-game objectives defined at the beginning of the process.