Select Exit Planning Blog Articles
Essential Exit Planning Commentaries for Business Owners from Trusted Professionals
What the Heck is Exit Planning?
Written by John F. Dini, President of MPN Inc. for Awake at 2 o’clock?
Exit Planning is a new discipline, developed to meet a massive market need. Unfortunately, like any new service offering, there are a lot of people who use the term without fully understanding it, or in hopes that it will associate them with a growing field of professional practice. Accountants, Estate Attorneys, Wealth Managers, Consultants, Business Brokers and Insurance Brokers all say they do Exit Planning but which of these professionals really do it? READ MORE
The Entrepreneur’s Guide: Best Practices in Exit-Planning
Written by John Brown, CEO of Business Enterprise Institute for Forbes.com
I admit it. I have two motives for writing this blog: one altruistic and one completely selfish. First, the altruism: this blog is another attempt to persuade owners that the light you see at the end of your business-owning career tunnel is not the exit of your dreams. Until you take advantage of the latest thinking and best practices in Exit Planning, that light is a 15,000-ton locomotive that will flatten your business, your financial security and your legacy. READ MORE
Exit Planning: 8 Steps to Prepare Your Small Business
Written by Matt Roeberge, CEO of SLC Bookkeeping for The Huffington Post
Many owners fail to develop an exit plan for their small business, which is a huge mistake. You should develop an exit plan for your business right from the very beginning. Having an exit plan in place will help you keep the business going in the right direction by constantly aligning with your long-term goals. An exit plan also creates a trigger event that means it is time to get out; otherwise you just keep going. READ MORE
The Accelerators: Why an Exit Plan is Just the Beginning
Written by John Greathouse, Partner, Rincon Venture Partners for The Wall Street Journal
Many entrepreneurs focus their energies on starting and running their businesses, and may overlook the potential drawbacks of their exit strategies, or ways investors will get their money back. Acquisitions and Initial Public Offerings can bring unanticipated challenges. For instance, Etsy Inc.’s stock has fallen nearly 50% since its market debut in April, in part because of a wider-than-expected quarterly loss last month. READ MORE
Plan Your Exit
Taken from the “Closing Down Your Business” articles posted by the U.S. Small Business Administration
Do you know how you are going to exit your business? You may have a dream of going public, selling to the highest bidder, or retiring and handing over your business legacy to your family. Big dreams aside, the truth is that many small business owners have no exit strategy for their businesses in the event of their disability, retirement, or death. A business exit strategy not only means having a plan for the unexpected. READ MORE
Are Baby Boomers Ready to Exit Their Businesses?
Written by Barbara Taylor, co-founder of Allan Taylor & Co. for The New York Times
It’s official: as of Jan.1, the oldest of America’s baby boom generation started turning 65 at a rate of 10,000 a day — a trend that will last for the next 19 years. As articles like this one point out, the coming wave will mean big business for many industries. Many of us who offer financial services linked to retirement have been anticipating the day when the largest wealth transfer in our nation’s history officially begins. READ MORE
Why Every Business Owner Needs an Exit Strategy
Written by Bruce Hakutizwi, U.S. and International Manager of BusinessesForSale.com
Establishing an exit strategy – a plan for eventually leaving or selling the business – is a common-sense part of smart entrepreneurship, and it lends a sense of safety and peace of mind to what is inherently a risky proposition. In the construction industry, it’s long been standard practice – backed up by modern regulations – to ensure that every building, floor, or structure where people will be living or spending any amount of time has at least two doors. READ MORE
An Alternative Exit Plan: Selling Your Business to Your Employees
Written by Camille Jensen, Employee Ownership Consultant with ESOP Builders for Small Business BC
When you’ve built a successful business you’re proud of, the decision to sell it can be one of the hardest you ever make. However, all business owners need to have an exit strategy in place. You’re likely aware of the traditional exit options: an equity sale, finding a strategic buyer, or for larger small businesses, even going public. Some owners may simply decide to wind their business down and shut their doors completely. READ MORE
The ExitMap® Assessment©
The First Step to Understanding the Complexities of Preparing a Company for Transition
The ExitMap® Assessment questionnaire consists of 22 questions and produces a high quality 12-page summary report which will be emailed to you. The report ranks the overall preparedness of a company for transition and provides a breakdown of the four major categories of readiness; Finance, Planning, Profit/Revenue and Operations. If you are just starting to think about exit planning or if you just want to know where you and your company stand, this is your first step.