|
A successful exit strategy is confirmation that your business has value beyond your involvement. In the absence of a well thought out exit strategy, business succession will most likely be a lofty dream.
.
IMPACT ON BUSINESS SUCCESSION: 
A well thought out exit strategy will allow space for successors to assume decision making responsibility while you are still accessible for guidance. It also allows you to know in advance if your successors can fulfill ownership and leadership expectations or if the business should be sold to a third party.
Developing a compatible exit strategy is a stewardship responsibility that has several interrelated components, such as financial, management, and emotional ability to withdraw. Hopefully, forethought and fundamental financial planning has put you in a position of independence apart from your business. If so, you can aggressively tackle the management and emotional ability to withdraw.
ADDITIONAL RESOURCE MATERIAL:
 Exit Strategy Checklist
As business succession planners, The Rawls Group works in a quarter back role with you and your other advisors to ensure all key planning factors are working together to meet your succession goals. CONTACT US for additional information or to receive a business succession planning assessment which will identify the strengths and weaknesses impacting the ongoing success and value of your business. |
