Strategic Exit Planning: The Surprising Catalyst for Business Growth
3 Essential Reasons Why Even Growing Businesses Must Have an Exit Plan
It may seem counter-intuitive for a business owner to develop exit strategies. If you are increasing revenue, why would you consider exiting your company?
Personal Health Issues or Family Crisis
Personal health issues could arise anytime for you, a co-owner or your family. These issues could take away your focus on effectively running your company. If you have an exit plan, you can ensure your company would continue running smoothly.
Economic Recession
A recession can have a significant impact on your business. If you are close to retiring, you could avoid assuming the downturn’s effects by exiting your business on your own terms.
Unexpected Offers to Buy the Business
Businesses are always looking for new opportunities to acquire companies. Even if you don’t have any immediate intentions to sell your company, you would still be able to have an insightful conversation if you had an exit plan in place.
Let’s develop an exit plan to help you can prepare for whatever the future holds for your business.