Posts tagged with: buyer attractive
Working in a vacuum, the assumption is that Exit Strategies Are Difficult.
Most CEOS assume exit strategies are difficult. That assumption discourages anyone who is considering an exit from getting started early.
As the CEO of your growing enterprise, it’s easy to be so consumed with the day-to-day operations of the business, that you never find time to think about your exit strategy (knowing it is going to be difficult). So naturally, it simply gets shuffled to the bottom of your TODO list and never rises to the critical path until it’s too late.
You can minimize how difficult your exit is by being proactive, starting early and committing to the bigger plan to achieve your ultimate goal. As a discerning entrepreneur, you know your business is your largest asset that you need to monetize if you are going to secure your reinvention (fka retirement).
Exit planning requires numerous conversations and then an integration of solutions in all the following areas:
- Peak performance
- Succession planning
- Contingency and continuity planning for management and leadership transition
- Business valuation strategies to make the business buyer attractive and buyer ready
- Transition planning to your reinvention (fka retirement)
- Tax planning for both the business and the CEO
- Estate planning goals and options from wealth advisors and insurance advisors
- Deal structure options both legally and financially
Your exit strategy will be specific to you, your business, your timeline and your goals.
- There is no ‘cookie-cutter’ approach.
- It doesn’t happen overnight.
The difficulty in exit strategies comes from the multitude of possibilities and recombinations you have to explore and choose from. That’s also where the fun and freedom come from.