Strategies: Entrepreneurs, what’s your exit plan?

When you’re about to launch your great start-up or build a small business, you don’t spend a lot of time pondering how you’ll eventually leave it. Sure, you might imagine your terrific new app will be bought for millions. Or perhaps you think one day you’ll make enough money to retire. But without a strategy, those dreams are just that — dreams. You need an “exit plan.”

Sourced through Scoop.it from: www.usatoday.com

Straightforward advice, straightforward article.

Finance Roundtable: Preparing Your Exit Strategy

Cresa Atlanta and CPA firm Habif, Arogeti & Wynne (HA&W), LLP hosted a round table discussion of “exit strategies”—how business owners can prepare their businesses for eventual sale. Three noteoworthy speakers discussed when businesses should start thinking about their exit strategy, how to develop an exit strategy, and how to maximize exit value. Bishop Leatherbury of BDO served as moderator.

Sourced through Scoop.it from: blogs.cresa.com

Cresa Atlanta’s round table delivers sage insight and advice from a group of professionals. Highly recommended article.

How to plan your business exit strategy | Money Marketing

Stepping back from a firm you helped create, balancing competing interests and making sure you get the best deal are difficult decisions that need to be planned with great care.

Sourced through Scoop.it from: www.moneymarketing.co.uk

This short article from Great Britain helps ease anxiety. The key is to plan early. That’s one of the most important things we do for clients at EGS.

6 Secrets of Employee Retention: Reward Them Now, Not Later

The best way to promote a workforce that is both motivated and dedicated is to have a strategy in place that reinforces your top-performing employees’ commitment, dedication and loyalty. That’s why it’s important to make employee retention one of your ongoing goals.

Sourced through Scoop.it from: www.roberthalf.com

For many businesses, retention is a core value driver in a well-conceived exit strategy. This short article gets it right because it underscores that retention itself is a strategy, not a tactic.

Business Exit Strategy Thought to Ponder

In this Thought to Ponder, we’ll talk about the importance of having an exit strategy when running your business. And we’ll address an important issue that few small business owners consider.

Sourced through Scoop.it from: www.youtube.com

Too many small businesses do exactly what this short video talks about. It has a negative impact on company value in buyer’s minds. This is a heads-up on an important issue.

Exit Strategies for Family Business

  • What will happen to the business when I decide to move on?
  • Should the business be sold?
  • Will my children want to carry on with the business, and, if so, is there a successor ready to assume the leadership and how will this be funded?
  • Would the current management team be interested in buying the business?
  • Should the business become a publicly listed company?
  • How do I help ensure the maximum return is received from the business?

One really big missing question: how much time do I need in advance of an exit solution? (EGS says “begin with the end in mind.”) Otherwise, this KPMG blog post asks the right questions.

Ready to retire from the company you built? Plan your…Exit strategy

You did the research, wrote the business plan, obtained the funding, completed the paperwork, opened the doors and christened your business.

Sourced through Scoop.it from: www.biztimes.com

We like this case study. It reports on an ideal strategy, well-planned in advance. And it talks in detail about other scenarios, one or more of which will likely apply to your business. The article if full of sage advice.

Baby boomers, plan your business’ exit strategy now – Baltimore Business Journal

As recently as 2014, roughly 66 percent of all businesses were owned by baby boomers. Unfortunately, many baby boomer business owners don’t begin to think through their exit strategy until they are on the brink of retirement age, which puts them at a significant disadvantage.

Sourced through Scoop.it from: www.bizjournals.com

This short article is loaded with the most important advice of all: if you do not have an exit strategy, build one well in advance of the actual end game. EGS is ready to help.

How to Sell Your Business and Still Be in Charge

Johnny Schillereff, founder of Element, explains why entrepreneurs who sell their companies but stay onboard need to be prepared for changes.

Sourced through Scoop.it from: www.inc.com

Only about a minute long, this video provides an early warning to business owners who plan to remain in a key position after the sale of the business. Here’s the warning: get professional advice early.

Staff retention rates improve when employee efforts are recognised | Training Journal

“Employee engagement incorporates many factors – and this audit clearly demonstrates that employee recognition is one of them. Employee engagement is about the emotional connection employees have with the organisation they work for.

Sourced through Scoop.it from: www.trainingjournal.com

Our colleagues in Great Britain are onto something here. Can simple expressions of gratitude instill loyalty, leading to retention which drives business value in an exit strategy?