As an exit planner, I’ve had many clients turn to me for exit planning help when they are rather far along in the process. Some have already tried to “shop” their business for some time to buyers only to discover that their expectations about its value far exceed reality, or they’ve even gotten to the final stage, approaching closing, only to discover the perfect buyer is anything but and the deal unravels. Both scenarios create unnecessary expense, frustration, and headaches. Sometimes, those scenarios can’t be reversed, and the result is a huge loss at a time when business owners can least afford it – on the threshold of exiting their businesses.
The confusing thing is that these business owners did not run their businesses through the years with blinders on. They understood the importance of goal setting and achieving profitability. They simply failed to have clear vision about the ultimate goal – their retirement or next big adventure. That’s probably the biggest failure of all. They didn’t intentionally ignore it, but typically, business owners get too wrapped up in daily operations or become too burned out trying to keep their business afloat.
At the heart and core of the exit planning process is goal setting and envisioning what you want your future to look like. With that defined and in place, we build a plan to help you achieve what you’ve envisioned. As a business owner, you fully understand the need for clarity to run a successful enterprise. You need to apply that same clarity to transitioning out of your business. An exit plan provides a clear vision for your future, so you can exit on your terms, reap all the rewards from your business that you’ve earned, and fully enjoy the next chapter of your life.
Don’t leave your most important goal to chance. I encourage you to take the blinders off and sharpen your vision for the future and begin the exit planning process now. It is never too early to start.
