Jeff Janes is available for speaking engagements. Contact us for more information.
Voluntarily or involuntarily, every owner will exit their business. This topic will address several issues such as when an owner should begin preparing for an exit, who really benefits from an exit plan, and at what stage in the business life-cycle an exit plan should be developed.
The process for developing a coherent exit plan for the owner of a privately-held business involves monetizing an illiquid asset. For an owner, the financial and emotional implications of a business exit are usually best handled over time, rather than on the spur-of-the-moment.
Many owners delay planning for their future exit for reasons that are often difficult to articulate. Fear that stems from a perceived or real loss of identity, status, or income are new problems an owner has likely never had to face. Addressing these issues from the start can increase business value and smooth the exit process.