As you consider your business exit, you may find that approaching it alone is prohibitively challenging. You may also find that some of the advisors with whom you’ve worked don’t have all the skills, tools and strategies necessary to help you exit on your terms.
While planning for your future is the key, you know that results are how you’ll judge your business exit. But a business exit can have several facets, such as personal, financial and professional considerations.
Is it possible to address all facets at once?
We recommend that you follow a comprehensive exit planning process that responds to the unique qualities you and your business possess. You’ll first want to establish your goals for yourself, your family, your business and your employees. Next, evaluate what you’ve done so far, where you’ve made progress, and where you’ve fallen short. Then, identify and compare action items that may move you closer to your goals. You’re likely to need more than one qualified advisor to help you uncover opportunities and strategies that move you forward and address specific aspects of your business exit. Last, you’ll set a schedule and assign responsibility for getting things done.
Let’s look at how these activities can affect your business exit.
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The 2022 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.