Thinking of Selling Your Business?

An Exit Plan May Help You Attract Larger Offer

Whether you’re thinking about selling your business soon or years down the road, putting an exit plan in place today can help increase the odds you’ll receive the greatest value for your company.

Exit planning is a strategy to leave your business when you want, in the way you want, for the amount you desire. With a solid exit plan, you're more likely to maximize your business's value and meet your personal and professional goals down the road.

What Is Exit Planning?

Before you develop an exit plan, consider how long you'd like to remain involved with your business and think about your personal and financial goals. Then, follow these steps.

How To Develop an Exit Plan

You'll want to gather and verify many financial documents. These may include but are not limited to cash flow statements, balance sheets, bank statements, and tax returns.

Prepare Financial Documents

Once you know what type of business owner you are, you'll find it easier to choose the right business exit strategy.

Discover the Type of Business Owner You Are

Review all the exit strategies at your disposal to determine the ideal options for your unique business and future goals.

Evaluate Exit Strategies

Keep your investors in the loop about your exit plan. Let them know you will design a strategy explaining how your exit will affect them and how you'll repay them.

Communicate With Investors

It's a good idea to transfer some of your duties while you work on your plan. This way, you can guide the leaders with their transition and ensure they're confident enough to take over.

Decide on the New Leadership Team

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