Do you have an exit strategy for your business?
Too many business owners wait until some unforeseen circumstance, such as a health scare or change of personal circumstances, forces them to re-evaluate their position. This obviously isn’t the ideal exit scenario and it rarely results in the ideal outcome.
In our experience most business people are so busy building their business the last thing on their mind is how to get out. But when the time is right to put your feet up or pursue other interests, you want to achieve the best financial outcome with a minimum of stress.
If you wish to sell at maximum value your business must be well prepared and presented, a process that can take up to two years. A plan will help you carry out this process in a structured and timely manner.
Passing the reins to family also comes with its own complications as you strive to be fair to all involved, ensure the ongoing success of the business, and provide enough capital for you to enjoy a stress free retirement.
Having an exit plan puts you in control. Whether you’ve been in business for two years or 20 years, succession planning is an important part of your business strategy. Talk to the team at Bennetts Proactive today and find out how we can help you define your long-term vision, and work toward achieving it in the most effective way.