There are a many types of ownership transitions in privately owned businesses, ranging from gradually giving more control to family members to selling the business to outside parties. In every type of ownership transition the participants can learn a great deal from the failures of...
The best time to plan your exit is the day you start your business. If you skipped that step, like most of us, then make it part of your current planning process, and then spend some time each year to update the plan, even if...
What does it take to start making an exit plan? The first step is to set your goals and objectives. Consider these three areas: Professional, Personal, and Financial. What do you want to accomplish, over what period of time, and how much money do you...
Advanced planning usually makes the difference between a successful exit and something less than satisfactory for the owner. The best practice is to make a long-term plan to exit or sell your business, using the same discipline that you use to manage your strategic plan...
Most business owners are so busy with customers, employees, and financial matters that they don’t have much time to think about how or when they’ll leave their business. Do yourself and your business a favor and give it some thought now, and it will pay...
Become a strategic target for a specific type of buyer (either real or hypothetical) What are the drivers to optimize your business? Revenue and profit growth are always important Complementary products and services Strong customer base Strategic roadmap Increase the professionalism in your organization Demonstrate excellence in critical business areas - marketing,...
Do you know how you plan to exit your business? You may have a dream of going public, selling to the highest bidder, or retiring and handing over your business legacy to your family. Big dreams aside, the truth is that many small business owners have no...
There are four primary elements in developing your exit strategy: What are your objectives?: What is your time frame for selling the business? Do you have legacy considerations to address? What are the implications for the type of deal being contemplated? Business Assessment: Conduct a mini due...
When planning your exit strategy, you must consider how the owner wishes to transfer control of the business. The seven business transfer methods to consider are: Employees Charitable trusts Family Co-owners Outside buyers (followed by retirement of the current owner) Outside buyers (followed by the current owner working in the business for a...
"Exit strategies may allow you to get out before the bottom falls out of your industry. Well-planned exits allow you to get a better price for your business." From: Selling Your Business by Russ Robb, published by Adams Media Corporation Whether you plan to sell out in one year, five...