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Building a Successful Exit Plan for Your Business Starts Now

Mark Childs, SIOR

Business owners often put their life’s work into growing their business, taking immense pride in building an enduring legacy for their families and the many stakeholders involved along the journey. Yet when it comes to ensuring their business is prepared for a potential exit, many wait far too long to embrace an exit readiness mindset. Even if you have no intention of selling in the near term, being in a constant state of exit readiness makes you highly attractive to a buyer and helps influence premium valuations.


According to the Exit Planning Institute, 79% of business owners have no written transition plan while 49% have done no planning at all. Yet at the same time, 99% agree that having a transition strategy is critical to the future success of their business. The reality is that all businesses transition; the question is whether the owner wants to dictate how it happens. Failing to prepare puts you at the mercy of unforeseen events like a health issue, untimely death or heavy downturn in the business or industry. Improving your exit readiness now can help prevent being forced down a path you may not want.




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