One day every business owner will exit from his or her business. Most owners want to control this process, and make sure the exit is good for employees, customers, their family, and themselves. Having a plan to do this is called an exit plan.
Are you a Baby Boomer Business Owner? (Hint: You were born between 1946 and 1964 and you own a business.) If yes, watch this video.
One of the most common questions from business owners that I hear is, "If I don't want to exit anytime soon, why should I spend any time now planning for my exit?" The answer to this question is the most important strategic decision for your business value growth.
In my experience, nearly every business owner aspires to reach personal financial freedom at exit. And for most owners, this is the top priority. We have a proprietary formula called the Exit Magic Number™ calculation, which will tell you how much capital you need to receive from the business between now and the exit to achieve your personal financial freedom.
What would your answer be if I asked you "When do you want to exit from your business?" If you answered: "I don't want to exit" or "I plan to exit in five to ten years" – you are like the majority of the hundreds of business owners I speak to every year.
