An Exit Strategy for Small Business Means Planning and Execution
Selling a business is not an enjoyable process. You think it would be great if your business could go on when you move on. So perhaps instead of a business sale, you think you could just retire and let family family or employees run it for you. But it is not as easy as just turning the keys over.
What Is an Exit Strategy for Small Business?
Will you be one of the many business owners who try to retire by turning their business to their insiders or family only to find yourself back where you started? Or, will you take advantage of proven strategies and time-tested techniques that can ensure your business is on-going, continues your legacy and ensures your future retirement? Contact us to discuss your needs.
Most owners who pass their business on to family or employees end-up back at the helm dealing with problems that did not exist when they retired. Instead of a stress free, carefree stroll through remote beaches of white sands or plush resort golf courses, their retirements are further delayed. Some are never able to retire.
Yet, the retirement financial advantages to you of having a successful business succession instead of a selling your business are substantial. A typical, well-run, privately held business will return well over 15% on assets annually. Where are you going to get that return outside of your business? It is a far better financial return than you can get selling your business. But getting that outcome requires planning well in advance and the discipline to execute that plan.
Building a Realizable Plan to Drive Up Value
Even with good planning, you may find that the circumstances in your business are not favorable for a succession strategy. Then you need to go back to the selling option. Positioning your business for a successful sale, to avoid the common pitfalls that decrease value require planning and execution as well.
The key to quality exit strategies for small businesses is understanding that that the keys to success like in the integration of a wide variety of disciplines such as management, leadership, finance, valuation, deal-doing, estate planning and personal planning.
Our Will My Business Pay for My Retirement© Assessment is specifically designed to look at your business from the standpoint of executing a successful sale or succession. It tells you what your realizable value is in the case of a sale or succession strategy, the impediments to executing those strategies, and a plan for overcoming the impediments to achieve the outcome you personally want.
What is an exit strategy for a small business? It is a personalized plan customized for you and your business that is achievable and actionable.
How can you get started? Click here to try our Will My Business Pay for My Retirement© Calculator and find out the realizable value of your business today.
Will Your Business Pay for Your Retirement? Know Your Exit Strategy. Call us today at 505.856.2646 or click here to email.
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