Why Every Business Owner Needs an Exit Plan

By: Patrick Ungashick

Are you ready to exit your business?

Many business owners are ready to hand over the day-to-day responsibilities of running a company. Far fewer have done the necessary preparation to ensure they can leave their business with financial freedom and a secure legacy. That type of readiness comes from an exit plan.

Every business owner should have an exit plan. And yet too few have a firm grasp of what exit planning is, and even fewer actually have a documented plan. Even if they do, often it’s insufficient and not tailored to achieving their specific goals.

The success of any business hinges on advanced strategic planning. Your exit is no different. That’s why it’s critical for every owner to know what an exit plan is, when exit planning should start, and how to create and measure a successful plan.

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