Creating an exit plan is not as simple as you might imagine. There are many myths and false beliefs about exit planning and building the business of your dreams. Understanding the myths can help you create a realistic and functional exit plan.
“Three Exit Strategy Myths You Might Be Guilty of Believing”Continue reading
When you leave your business for retirement, you may not have much to worry about. Your online reputation doesn’t matter because you’re not depending on it for income. However, if you are exiting your business to move onto a new venture or opportunity, it can be important to make sure your online reputation is protected.
“How Your Exit Strategy Impacts Your Online Reputation”Continue reading
Walking away from your business is often the choice of someone who is either moving into an entirely new field or someone who is just done with the business. Maybe it’s not doing as well as you’d hoped or perhaps you’ve lost your passion for it.
Regardless, you know it’s time to walk away. So how do you manage the process without stepping on anyone’s toes? How do you walk away knowing you’ve done your best?
“How to End Your Business and Gracefully Walk Away”Continue reading
Should you choose to sell your business, one of the considerations you’ll want to make well in advance of exiting your business is whether you’re going to help your customers through the transition.
For some business owners, how their customers respond to the sale isn’t a priority. If you’re going into a different industry or you’re getting out of business altogether and retiring, then your customers may not be a significant concern. That’s the new owner’s problem.
“How to Help Customers Adjust to New Ownership”Continue reading
There are a myriad of different tools you can use to plan and implement your business exit strategy. Let’s start at the beginning and look at a simple vision board.
“Tools to Create Your Exit Plan”Continue reading
It may seem simple, however, creating an exit plan can take some time, research, and careful consideration. There’s a lot to take care of and it can be overwhelming. A step-by-step plan can help organise the planning process.
“Creating Your Exit Plan Step by Step”Continue reading
There are many uses for a virtual assistant. Some assistants are skilled managers. They can take a large project, for example planning and implementing an exit strategy, and manage the process with relative ease.
If you’re considering selling your business to another person or you are going to merge the existing business into a new one, a skilled virtual assistant may be your biggest asset. Let’s take a look at what they can do for you and how to maximise their skills and knowledge.
“Hiring Someone to Implement Your Exit Plan”Continue reading
When you start thinking about how you might want to leave your business, a few possibilities may come up. You might think about selling it and making some extra money. You might consider simply closing the doors and liquidating all of your assets.
There’s also the possibility that you could leave the business to someone else or merge the business with a new venture.
Another option if you have a partner is to sell your portion of the company to them or to another person. Let’s take a closer look at these options.
“Three Ways to Exit Your Business”Continue reading
An exit strategy is actually part of your business plan. In the sequence of documents within a business plan, the exit strategy is the last portion of the plan. It outlines how you want to leave or let go of your company.
While it may feel too soon to start planning for the end, planning your exit strategy early on is essential. An exit plan allows you to build a stronger business.
“What Exactly Is An Exit Strategy and Why Should You Have One?”Continue reading
There are many stages to owning a business. The first stage is inspiration and motivation. You have a great idea and you’re thinking about doing something with it. Then comes the planning stage.
You begin taking steps to turn your business idea into a reality. You research your competition, learn more about your audience, and start the business plan creation process. Then you open your doors. This is a great time in the life of an entrepreneur. It’s incredibly rewarding. It’s also a bit stressful but in a good way.
“How To Create An Exit Plan For Your Business”Continue reading