Do You Have An Exit Strategy?

Do You Keep The end in mind For Business Success?
January 7, 2019

Do You Have An Exit Strategy?

I have this brilliant client , she’s a consultant and trainer in the IT space. She also started her own software licensing business 1 year ago and she will be closing this year with a million plus turnover. So I met her yesterday to discuss her financial performance and at the end of the meeting I told her it is time to work on an exit strategy. She was shocked! And she looked at me with a very confused face and said, “Rania I am not selling this business!”

So…I explained to her that having an exit strategy is part of your vision for your business. Ideally, you should have it ready with your business start-up plan , and the exit value in mind will help you make your daily business decisions more strategic in nature.

So this video is about explaining the importance of an exit strategy

  • It is a path for success . It provides you with a clear direction and a time table for monitoring your progress.
  • It enhances the value of your business because It will put you in a continuous improvement mode, steering your business to the conclusion you preferred.
  • It will help you prepare your successor efficiently move forward in case of a sudden death, relationship breakdown or required relocation. You never know what can cause an unexpected early departure from the business.
  • When you have an exit strategy, you can easily exit at the time of your choosing. Whenever you see the market and industry conditions are favourable, you can exit with an ideal sale price.

So! no matter how young your business is, no matter how dearly you care for it, have an exit strategy in place. It is a wisely placed door to safety, value and convenience!

Do you agree? If not, then get business advisory services in Sydney to chalk down the best path for your business vision.