What is Your Exit Strategy?
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You might be thinking “why do I need to plan business exit strategy for the firm”? Well, there is an answer to this, it is a depressing reality that not all businesses survive and statistically talking more than 80% of new enterprises do not succeed in the first five years of business. That is one of the major reasons why planning exit plan is not an option when it comes to business valuation and employee incentives.
Exit strategy basically refers to the work involved in exiting the business in the smartes way if the business fails (i.e. Bankruptcy, or retirment). The intent is to ensure your exit phase from the firm is as smooth as doable with miniscule or risk to yourself or the business which is finally the most essential quality that will aid your retirement plans.
Take the time now to brainstorm and strategise your business exit plan as this is a crucial tasks that you will conduct.
All credit goes to its original author for writing What is Your Exit Strategy?.
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