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Business Exit Planning

Essential Strategies for Entrepreneurs

Planning for the exit is one of the most important decisions you will make as an entrepreneur. Learn how to avoid costly missteps when selling your business.

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Top Articles on Exit Planning

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Exit Planning at Cresset

Family is a key consideration when planning your exit. Cresset President and Chief Operating Officer Susie Cranston reflects on her personal experiences as she emphasizes the importance of understanding the multi-generational impact of selling a business.

Even if you know what to consider before selling your business, navigating the thought process can be difficult. Cresset Co-Founder & Co-Chairman Avy Stein offers strategic insight on preparing for an exit for a private equity-owned business.

The sale of a business is often seen as the culmination of an entrepreneur’s journey, but in reality, life continues far beyond this milestone. Watch as Cresset’s Head of Family Governance Whitney Webb shares key strategies to help you prepare for the next phase of life.

With an undertaking as big as a business exit, you want to be prepared before, during, and after the transaction. Learn more as Cresset Co-Founder & Co-Chairman Eric Becker shares strategies to help you optimize towards your goals in a business sale.

Lending offers versatile solutions that enable you to retain ownership of your business while continuing to expand it until you’re ready to sell. Alex Penning, Cresset’s Head of Banking & Lending, explains how strategic lending can serve as a bridge, helping you reach the optimal valuation at the ideal time for your exit.

The interests of the seller and buyer often diverge, making it crucial for business owners to plan ahead with their wealth advisor and tax strategist to navigate the complexities of a sale. Watch as Cresset’s Head of Tax, Oleg Ikhelson, shares how early and strategic planning can significantly reduce tax liabilities by addressing both estate and income tax considerations.

Early pre-transaction planning is key to navigating the complexities of an exit process successfully. From setting up trust structures and addressing tax implications to maximizing your exit potential, an experienced advisor can help optimize outcomes at every stage. Listen as Noel Campbell, Cresset Director and Wealth Advisor, shares insights on how thoughtful, strategic planning can help families achieve their long-term goals.

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Getting Started with Business Exit Planning

Exit Strategy Definition

An exit strategy is a comprehensive plan to prepare for the eventual sale, transfer of ownership, or closure of a company or business. Successful implementation of an exit strategy aims to minimize losses, capitalize on opportunities, and facilitate a smooth transition to the next phase or venture.

Importance Of Exit Strategy In Business

When selling your business, it is crucial to have an exit strategy as it provides a roadmap for mitigating risk and optimizing returns. It offers clarity on when and how to transition out of a company, whether through a sale, merger, or other event, allowing key stakeholders to make informed decisions. An effective exit strategy requires careful consideration of business performance, market conditions, and legal implications.

How Exit Planning
Advisors Can Help You

An exit planning advisor helps with all aspects of an exit strategy, from pre-transaction planning to tax minimization to estate planning. They can help structure a comprehensive plan preparing yourself and your family for financial independence, your next venture, and your time post-transaction.
 
Learn more about selling your business with our 10-point checklist or schedule a call with one of our certified exit planning advisors (CEPA).
 
 
Schedule Call
Beth Barrett

Beth Barrett Lawther, CFA, CEPA

Director, Wealth Advisor
Amanda Plonski

Amanda R. Plonski, CFP®, CPWA®, CEPA

Managing Director, Wealth Advisor
Gus Spaulding

Gus Spaulding, CEPA

Managing Director, Wealth Advisor
Oliver Rose

Oliver Rose, CEPA

Founder of Cresset Catalyst
Noel Campbell, CFP®, CEPA

Noel Campbell, CFP®, CEPA

Director, Wealth Advisor
Ryan Siewert

Ryan Siewert, CFP®, CEPA

Director, Wealth Advisor
Dean Jackson

Dean Jackson, CFP®, CEPA

Managing Director, Wealth Advisor
Angela Raitzin

Angela Raitzin, CFP®, CEPA, CRPC®

Managing Director, Wealth Advisor

Frequently
Asked
Questions

Start exit planning as early as possible, ideally several years before you intend to sell your business. By beginning early, you’ll have ample time to assess your options, optimize your company’s value, and address any vulnerabilities or gaps. Early planning allows for a smoother transition, maximizes potential returns, and provides the flexibility to adapt strategies based on changing circumstances in the market or personal goals.

It is important to have an exit strategy in place before selling your business. Develop a comprehensive exit strategy tailored to your goals and assemble a team of trusted advisors. Streamline processes, understand what your company is worth, identify the motivation for the sale, strengthen key relationships, and ensure proper documentation of assets and liabilities to enhance your company’s attractiveness to potential buyers or successors.

It is important to have an exit strategy in place before selling your business. Develop a comprehensive exit strategy tailored to your goals and assemble a team of trusted advisors. Streamline processes, understand what your company is worth, identify the motivation for the sale, strengthen key relationships, and ensure proper documentation of assets and liabilities to enhance your company’s attractiveness to potential buyers or successors.

Selling a business is never about finding the perfect moment. If you keep waiting for your company to become slightly more profitable or to grow a bit more, you may never take the leap. Instead, make the decision when it aligns with your goals. Consider more than just the financial gains from the sale, factor in your desired time frame for enjoying the rewards of your hard work and fulfilling your long-term objectives.

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Cresset refers to Cresset Capital Management, CP Parent, LLC, and all of their respective subsidiaries and affiliates. Cresset Asset Management, LLC, also conducting advisory business under the names of Cresset Sports & Entertainment and CH Investment Partners, provides investment advisory, family office, and other services to individuals, families, and institutional clients. Cresset Partners, LLC, provides investment advisory services strictly to investment vehicles investing in private equity, real estate, and other investment opportunities. Cresset Asset Management, LLC, and Cresset Partners, LLC, are SEC registered investment advisors.

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