Exit Plan: How a succession plan can save your business (and protect your family)

At some point, you may want to pass the business on to your children, or to someone else in the company. You may want to sell your share to your business partner. Or you may want to sell the business to another person or company, and retire on the proceeds. Ideally, you will choose the timing and method of your exit from the business. However, the way life unfolds sometimes, business owners do not always have a choice in what happens, or when.

Sourced through Scoop.it from: www.ascentwa.com.au

Good advice and insight. Your best Next Step is to contact EGS for a powerful and free consultation.

Best Time to Start on a Succession Plan? The Day You Start Your Business – Annapolis Estate Planning

It may sound whimsical, but the moment you open a business is also the time to start thinking about how you’ll exit the business, whether you intend to sell to a partner, leave the entire business to a family member or sell as soon as you come up with the next big idea.

Sourced through Scoop.it from: blog.holdencampbell.com

We like the advice from this legal group in Annapolis. EGS specializes in exit strategies built to maximize company value.

Realtors (and Consultants): Lay Groundwork for Your Exit Strategy

Most real estate professionals fail to have an exit strategy in their business, but that also means they may miss out on creating a valuable income stream for themselves in retirement.

Sourced through Scoop.it from: realtormag.realtor.org

Here’s some good exit advice for consultants who, like realtors, build a strong solo business. EGS understands and is ready to bootstrap your custom plan.

Want an exit strategy from your business?

Insights into preparing and implementing an exit strategy to leave your business.

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

If this Toronto firm was U.S.-based, I’d be guilty of plugging a competitor. No worries. This group gets it and you should read it. Then call EGS for a courtesy confidential consulation.

The importance of an exit strategy | small business | lynda.com

Small business owners: Don’t let retirement and leaving your small business catch you off-guard! Learn some practical tips on developing an exit strategy.

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

LinkedIn’s Lynda service includes excellent training and motivation tools. Here’s one that’s directly on-point for the EGS mission: The Importance of an Exit Strategy. About 5 minutes. Enjoy!

Exit Strategies for Startups | Lexology

“What is your exit strategy?” This is one of the most common questions that startups or early stage companies are asked, but many entrepreneurs have not given this much thought.

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

Nicely written short article emphasizes “beginning with the end in mind” as a strategy. And this is how we roll at EGS.

How U.K. small business owners can plan their exit to attract a buyer | Growing Business

Your plan should cover the whole exit process, including:

  • Identifying the most likely type of buyer that will give you the best price
  • Positioning the business to get you the best valuation and ensuring that you are ready for the due diligence process
  • Demonstrating a growth strategy and having the right team in place.

Sourced through Scoop.it from: startups.co.uk

Here’s a checklist article from the U.K. Good stuff, and EGS is ready to help customize to your business.

What Investors are REALLY Asking When They Ask About Your Exit Strategy – QuestFusion

Articulate that you want to grow your business, that you are committed for the long term, that you are flexible, and that you will work with your investors to do what is right and drives the best return on investment.

Sourced through Scoop.it from: questfusion.com

This article slams home our advice to “begin with the end in mind.” And it adds several good reasons worth your attention. Not a startup? EGS will bootstrap quickly for you.