Chris Swanson posted a new question on 2/8/2010
We're trying to understand how business owners plan for their retirement and/or plan their exit from day-to-day ownership. It would help to understand how some of you answer the following questions:
What do you see as your exit strategy from the business? For example, would you sell the business, pass it along to family members, or simply close the doors?
Who would you consider your key advisors regarding the exit of your business?
Who do you see as the next owner? Would it be family, employees, or a third party?
When do you see yourself selling the business? Would it be during your lifetime or after your death?
If you don’t have an exit strategy, what has prevented you from creating it?
Thank you in advance for any information you can provide.
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Brian Berget Responded on 2/16/2011
Chris - all very good questions. I would need to know about your current business/personal circumstances before being able to answer any of them. Bottom line is you do need to have a strategy if you want to get value from your business when you want to get out. I am a CPA and CMA with 26 years business experience - contact me through PartnerUp or by email if you would like to get into more detail.
Brian
