Steps to a Successful Business Exit

Just like the steps you took to create and build your business, there are defined steps for each business owner when they are ready to exit their business.

Step One: Develop a Game Plan or Strategy - Like a blueprint for building a house, an Exit Strategy will help you put the right pieces in place.

Step Two: Create a Business Plan – Have you forecasted your cash flow and profit/loss? Most investors will expect a clear explanation of your business’s financial future.

Putting your Strategy and Business plan into writing is of considerable value to you and to your investors.

Step Three: Time – It may take months or even years to enhance your business’s value to the point of being sellable, and more time to actually pursue the right sale option. The new owners may also ask you to participate in an orderly transition lasting several more years, thus delaying your exit.

It’s important to exit your business as thoughtfully and carefully as you began. These three steps are critical to your personal and financial future. If you are ready to begin developing your Game Plan, call Covenant Consulting Group to schedule your FREE consultation!