Topics and Events
The Advantages of Planning Your Business Exit Early
This article will discuss the benefits of early exit planning, including maximizing the value of the business, reducing stress, and ensuring a smoother transition. It will also touch on the common pitfalls of waiting too long.
Business Exit Planning: What It Is and Why It Matters to You
Have you heard about exit planning? Business exit planning might not be on your daily radar, but understanding its importance could safeguard everything you’ve worked so hard to achieve. Pascarella and Gill break down why it’s crucial for your business…
Developing an ‘Exit Mindset’
When considering a successful exit from your privately held business, it is important to develop a proper ‘exit mindset’. An ‘exit mindset’ is one that encompasses the past, present, and future of a business’s potential. This newsletter describes the various “time zone” mindsets that an owner experiences with the start-up and growth of their businesses while also offering a solution for developing an ‘exit mindset’.
The ‘Boots First’ Exit Plan
The sad reality is that most baby boomer business owners do not have a plan for the exit or succession of their business. As a result, the ‘Boots First’ strategy is their default strategy. This simply means that since these owners have not proactively planned for their exit, there is a list of potential adverse outcomes that can result from an unplanned ‘Boots First’ exit plan.
“What Will Your ‘Exit Day’ Look Like?”
Owners of privately-held businesses are most often consumed with the day-to-day running of their companies. Often, there is little time for advanced planning, and the five-year plan that was drafted long ago has been set idle in a file in a drawer, giving way to the needs of the business today. In spite of this reality, today’s newsletter is encouraging owners to give some consideration to their longer term planning. Specifically, what will the exit from your business look like? Or more acutely stated, “What will your ‘exit day” look like”?