What is Your Exit Strategy?

Think of an exit strategy as a way to set your own finish line. It is your goal to succeed without a line to cross, a clock to run out, or a point limit to reach. An exit strategy is the plan to leave your business after a certain amount of time, certain goals are met, or changes in the business or industry have occurred. Depending on your ownership situation this could mean selling the business to an outside buyer, exercising your buy-sell agreement with your partners, or leaving your business to your children or other family members.  Have you determined your exit strategy?  This would be a good thing to talk about with your attorney.