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The when, why and how of your business exit plan


business exit

Most entrepreneurs start their business filled with the hope of success and with inspired dreams that would bring great success. Perhaps the hope was for financial independence, for more money, more security to work hard with the prospect of the luxury of free time later, or for personal fulfilment and for peace of mind.

However, a small business owner may decide to exit his business willingly or unwillingly, deliberately or unconsciously, sooner or later. It may be a result of declining quality of their brand, or any unexpected problem that could cause the business to fall. The day will come when each owner makes their final exit from their business whether they’re carried feet first out the door at death; they sell; they transfer the business to the next generation; or they take some other path out the door.

Are you currently planning to exit your business? If you do, you should prompt any small business owner to realistically consider their options and plan for their departure well in advance. You should begin thinking early, often and realistically about how you can best realise the value of your business when you leave.

Unfortunately for many business owners, considering an exit plan is often overlooked. But the truth is, having an exit plan is so important. You may read this article and learn the most important tips on how to get the most of your exit plan: