No matter what type of owner you are, there will come a time to harvest the fruits of your labour. This can occur any number of ways including both internal and external exit options. Successful exits often require years of proper exit planning. Important considerations you need to make when developing an exit plan are:
- How much after-tax money do I need to retire and how much is my business worth now? Is there a gap between these two figures and if so, how can I close this gap within my intended time frame?
- What is the most important factor to me upon exit? Maximizing after-tax proceeds? Family legacy? Community relationships? Protecting loyal employees?
- How does my exit strategy align with my exit goals?
- What does my post-transition life look like and will that make me happy?
Velorum Business Advisory can help you develop a comprehensive Exit Plan that takes into account your personal, financial, and business readiness. Through our Value Acceleration program and Transactional Advisory Services, we can help successfully protect, grow and exit your business.