A villa on the Mediterranean or something else?
Every business owner must answer this question and plan how to create that exit.
It is not a quick or easy answer to generate.
No matter how long you have owned the firm, it is never too early to start to think about the exit from or the transition to your next business, or your next stage in life.
Consider:
What does the end look like? What is your personal end game?
What is the lifecycle of your products or services?
What happens after the sale? And what comes next for you?
Each leader, each exit, each new future looks a little different. There is no one uniform step.
There are a variety of End Zone questions that all leaders & owners must address.
* When do you want to exit?
* What is your most likely exit strategy?
The four most often include:
* pass to a family member or friend
* sell to insiders or the management team
* sell to an outside firm or entity
* take a gradual cash flow exit, then shut it down
* What is the financial number you need to live the rest of your life?
* What risks do you face prior to exit?
* What will you do in life after exit?
* Who is on your exit planning team?
These considerations have been around for a long time but you do not want someone helping you that has not experienced the steps and stress points that you will face
If you want to review the details for your specific situation, reach out to me.
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