Introduction to Exit Strategies for your business

Selling your business is probably the most important professional decision you are ever going to make. And, as you are likely to only get one chance at Getting it Right, you need to ensure that you adopt an exit strategy plan that ensures you achieve the best possible price and which completely satisfies your personal objectives.

On preparing for your exit, you need to be:-

• certain of how you intend to leave and that you will be protected in doing so
  
• committed to an exit date in the knowledge that this can be met
  
• experienced in the likely pitfalls of selling businesses
  
• able to identify and assess potential buyers
  
• certain of the maximum sales value achievable
  
• aware of tax implications and able to guarantee efficiency
  
• totally familiar with legal implications
  
• sure of your financial security and how capital / income needs will be met after you leave.

If you are not, then you may need the help of Exit Strategy Planning (ESP).