8 Essential Elements of an Exit Strategy for Business Owners: Part III

Develop a Strong Management Team The development of a strong management team is usually a necessary consideration in the preparation of an exit strategy. This helps to ensure a smooth transition with some continuity of leadership and talent. One consideration is whether, and when, the owner replaces himself/herself as the CEO. An outside person may …

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8 Essential Elements of an Exit Strategy for Business Owners: Part II

Improve Profitability and Cash Flow A company is more valuable when it is profitable and has good cash flow.  Therefore, an owner should always strive to have the company as profitable as possible.  Several steps can be taken to improve the profitability of a company. If the owners are paying personal expenses through the business …

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8 Essential Elements of an Exit Strategy for Business Owners: Part I

At some point in time, every business owner will need to transition their business to new owners, which could be a business partner or management buy out, a transfer to family members or an outright sale of the business on the open market.  Regardless of the expected exit strategy, every business and business-owner should probably …

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