Posts Tagged ‘Exit Strategy’
Franchisees: Understanding Your Exit Strategy
You need an exit strategy. It’s as plain as day, yet most new franchisees never address the idea of leaving their business one day. All the excitement centers on opening and growing. It’s a different, but mandatory, approach to open their franchise unit with the end in mind. Bar none, the best exit strategy is…
Read MoreWill You Be Happy at Your Finish Line?
Have you figured out what you want to have, or to be, when you reach the end of your personal run in this business life? It is a fair question. Most of us work in our businesses, either as managers or owners, and rarely step outside to think about how this will end in a…
Read MoreHaving a System in Place for Your Business
Recently, the soccer coach of my son’s soccer team passed away. On top of being the coach of my son, he was the owner of a sportswear manufacturing and distributing business for 15 years. From meeting with his family members, he and the business were synonymous. There were other no systems in place. With no…
Read MoreWhat is Your Business Really Worth?
For many owners, the answer to one question determines their ability to leave their companies: “How much money will I get when I sell?” This question is indeed critical. Realistically, you can’t exit your business unless you achieve financial independence, and the primary source of that independence is likely to be the funds you receive…
Read MoreExiting Your Business is a Process, Not a Mystery
Nora Chapman’s story was typical of most business owners who have made the tough decision to leave their companies. At age 54, she was confident in finding a meaningful second act and was ready to leave her 25-employee advertising business. Nora was thinking of selling to one or two of her key employees and when…
Read MoreA Small Business Workout: Get in Shape to Sell
It’s always a good idea to keep a regular check on the health of your business, but it’s vital if you are thinking of selling anytime soon. Taking the time out to analyze your expenses, crack down on cyber security, as well as outsourcing tasks and reducing piles of paperwork will really help to tone…
Read MoreAvoid These 4 Mistakes When Selling Your Small Business
If you’re like a lot of small business owners, you’ll eventually get to a point in your career where you’re ready to sell the business you built and start off toward a new goal. The reality of selling your business is that it could take longer than you expect. When preparing to sell your business,…
Read MoreYour Business: Grow It and Hold It?
Taking money from professional investors such as angels or VCs usually requires that you agree to seek an exit for those investors in your plan, often targeting five to seven years as the ideal period for growth before a liquidity event. Of course, even though that is your contract with the investors, way over half…
Read MoreThe Role of an Exit Plan as a Franchisee
Going through the purchasing phase of a franchise spikes the adrenaline and fills your mind with endless optimism. That’s great! You should be energized by your new endeavor. But let’s pause here for a moment. Do you plan to retire from this job? What are your long-term goals? Do you plan on pursuing other opportunities?…
Read MoreEntrepreneurs: Take the Time to Celebrate Your Exit
We come to the end of this cycle of insights with a thought about how you might view your successful exit from the company you have spent so much effort to build. You’ve worked hard for years to reach the payoff, and the money sure looks good as you contemplate the wire transfer to come,…
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