With the new year upon us, many people have begun their journeys to fulfill their New Year’s resolutions.
For business owners, it’s no different.
Between creating goals for the business to achieve and assuring that the business keeps growing, owners will have much to consider this year. One of the goals most commonly shared by owners is to successfully exit their businesses over the next 10 years. Most business owners have a sense of how much longer they want to remain as owners of their businesses, and the new year is a perfect time to take control of the planning that can make the future successful.
In our experience, it usually takes a typical owner of a small to medium-sized business 5–10 years to implement an exit plan. That means that for many owners looking to exit their businesses within the next five to 10 years, their best chance at a successful business exit begins today.
As owners set out to begin creating a written exit plan, they may want to know that the most successful owners tend to establish their goals before they begin implementing a process.
There are usually three types of goals that we see owners set as they begin the process behind their business exits:
© Copyright 2018 Business Enterprise Institute, Inc. All Rights ReservedAs a member of the Business Enterprise Institute (BEI), Cornerstone Business Advisors is an authorized distributor of BEI’s content and Exit Planning Tools.
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