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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Exit Planning at Cresset

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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).
 
 

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.