Exit plan! Are you crazy? I know your business is your baby. You've worked hard to make your business a success. So why would you want to think about an exit plan strategy for your business today.
Well sooner or later you will leave your baby and as the experts will tell you, it's better to plan an exit strategy for your business now. The reasons as proposed by most is that you develop a few exit plan strategies now, while there is no pressure and it keeps your business plan and your business actions very focused.
Click the title link below for some really great, thought provoking articles on Exit Plan Strategies.
In this one article by Steve Robbins a veteran of nine startups over 25 years and author of It Takes a Lot More than Attitude to Lead a Stellar Organization. you might be intrigued to know the exit plan strategies have names like:
The Modified Nike Maneuver: Just Take It. - where owners simply bleed the company dry on a daily basis, pay yourself a huge salary, reward yourself with a gigantic bonus regardless of actual company performance, and issue a special class of shares that only you own that gives you ten times the dividends the other shareholders receive.
Selling to a Friendly Buyer - represents Willy Wonka handing off his chocolate empire to a little boy who was a loyal Wonka customer,
The Liquidation - where lifestyle entrepreneurs decide that enough is enough and the exit strategy is simply to call it quits, close the business doors, and call it a day.
The Acquisition - so you can sell your business and leave the kids money while still spoiling them rotten,
The IPO - because they're sexy, they're flashy, and they get all the press.
Check out the details, its a really great overview of Exit Plan Strategies for your business
Are you leaving your business? Maybe you are retiring or handing your business to a relative? Whatever the reason, be smart about how you make your exit.
If, one day, you plan to exit your business and transform your equity into cash through a sale, merger or IPO, you need to prepare for that every step along the way.
Plan a graceful (and profitable) exit from the start. ... Your exit plans need to be clear in your own mind because they will dictate how you operate the company.
You may have just started your company, or you may have been in business for years. Wherever you are in running your business, have you given thought to how you’ll exit your business when the day comes?
So What's Your Exit Plan Strategy?
You need to know what's your Exit Plan. You don't want your business or father time as I like to say holding a gun to your head because then its too late to plan.
If you are starting your business you may want a business coach that can help you focus on you now, while building and or growing your business. One that can focus you on a powerful exit plan strategy.
So what's your exit plan strategy? Leave a thought below, it may help someone else who hates to plan their exit, avoid a major mistake.
Once you finish your review of the recommend exit plan strategy resources, come on back and let me know what you intend to do for your exit plan.