When you’re selling your business it is an exciting and often nerve-wracking time. There is a lot more to do than you might expect. As you’re creating your exit plan, consider the following questions.
“Five Considerations When Selling Your Business”Continue reading
The value of your business probably isn’t what you think it is. The truth is that you have a vested interest in your business. It is personal, so you attribute more value to it than a potential buyer. It is important to set apart your personal desires and beliefs about your business and to look at it objectively.
“Three Tips To Price Your Business To Sell”Continue reading
Sometimes closing your business or selling it is unavoidable. For example, maybe you’re moving to a remote island with no internet. However, most often the decision to close a business isn’t apparent. You have to make the call and decide if it is time to move on. Here are a few sure-fire signs that it’s time to exit your business.
“4 Signs It Is Time To Exit Your Business”Continue reading
One of the most common ways to exit a business is to sell it. However, this isn’t the right choice for everyone. Selling your business comes with some definite drawbacks. If you’re considering this option for your exit strategy, it is important to know what to expect.
“The Pros And Cons of Selling Your Business”Continue reading
Sometimes the best exit strategy is to simply close the doors and hang up the ‘out of business’ sign. While it may seem like an unprofitable approach, it’s actually a smart decision for many business owners.
“Should I Close My Business Down?”Continue reading
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