What Are Your Goals?

If you are like most business owners, you spend all your time and energy building up your business and little thought on how to exit from it when you are ready to move into a different phase of your life.

Ask yourself the following questions to determine your goals.  If you answer “yes” to any of them, then you need a formal Exit Strategy.

  • Do you see yourself retiring to enjoy the fruits of your labor or working until the end?
  • Do you want to sell your business to a third party?
  • Do you want to transfer your business to family members, co-owners, or employees?
  • Do you see the need for a continuity plan for your business if the unexpected happens to you?
  • Do you have enough financial security for your family if the unexpected happens to you?

Think you are too busy to think about it now?  Consider the risk of doing nothing.

 


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