What is an Exit Plan and Why Do I Need One?

Published on 29 September 2011 by in News

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What is an exit from a business? It can be as emotionally violent as a bankruptcy or be a quiet closing with all debts paid. You may get an offer that you can’t refuse and be set up for life or your next business. You can plan to sell at a good time:  take the money and run.  Your business can also be passed on to your heirs. An exit plan or strategy means simply that you have planned that transition and you are ready to take advantage of good opportunities.

Baron Rothschild, when asked how he became rich replied, “I always sell too soon.” By that he meant [...]

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