Why Not Planning Your Exit Can Lead To Catastrophe
As a business owner, do you have a bullet-proof mentality? It’s common to develop one out of necessity in the early years to ensure your business survives and prospers. However, life is unpredictable, and business owners cannot remain bullet-proof forever. That’s why having an exit plan is crucial.
Here are some reasons why:
🎯 BAD STUFF HAPPENS — None of us is immortal, and we never know what’s around the corner for us, our business partners, or our families. An effective exit strategy sets in motion a plan to secure your future, despite the inevitable curveballs that life throws your way.
🎯 MAXIMISE YOUR VALUATION — Most business owners focus on the wrong things when it comes to optimising their company valuation. You need a plan in place at least 36 months before you want to exit.
🎯 CREATE A LEGACY — Leaving a lasting impression on the world takes time to achieve, as does secure the livelihoods of the people who will remain in your business. An exit plan helps your business flourish, even when you’re no longer in the driving seat.
🎯 ACCELERATE YOUR JOURNEY — Having a robust exit plan can be your ticket to achieving your personal goals more quickly than without one. Fixing things should be part of the exit plan, not a separate task.
Don’t let the lack of an exit plan spell disaster for you and your business. Start planning today.
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