You, like every owner will exit from your business, one way or another. Either during your lifetime or at death, your business will be given away, sold, or liquidated. These three outcomes are not exit strategies. The word "strategy" implies a desirable result. Death is not a strategy!
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One day every business owner will exit from his or her business. Most owners want to control this process, and make sure the exit is good for employees, customers, their family, and themselves. Having a plan to do this is called an exit plan.
Are you a Baby Boomer Business Owner? (Hint: You were born between 1946 and 1964 and you own a business.) If yes, watch this video.
One of the most common questions from business owners that I hear is, "If I don't want to exit anytime soon, why should I spend any time now planning for my exit?" The answer to this question is the most important strategic decision for your business value growth.
In my experience, nearly every business owner aspires to reach personal financial freedom at exit. And for most owners, this is the top priority. We have a proprietary formula called the Exit Magic Number™ calculation, which will tell you how much capital you need to receive from the business between now and the exit to achieve your personal financial freedom.
