Will the economy recover? Of course it will. And when it does, you could be in a position to take advantage of it

I’m often asked ‘when is the best time to exit a business’?

The truth is . . . it depends.

It depends on your particular personal goals, the nature of your company, the industry in which it operates, and a number of other dynamics.

But what I do tell them is: Don’t leave it too late to plan!

People all-too-often leave it too late to build a successful exit strategy. Or at least one that totally maximises their potential return from their business.

See, an exit strategy should be built well in advance of the point that you feel you need to leave your business, largely because, if you don’t have a carefully constructed exit strategy, you probably won’t ever get to a point where you can part with your business for maximum return.

You need your exit strategy to guide you, clearly, towards a particular point where you can make a calculated exit from your company.

Planning an exit strategy in advance will also allow you to maintain objectivity and a clear mind, whereas planning it at a later stage will undoubtedly be rushed and may potentially involve clouded judgement.

Planning your exit strategy in advance gives you a clear vantage point for the future.

And right now, the future can only get better for business and the economy.

That means many business owners will be looking to exit their companies within the next few years when things pick back up to the extent that they think they can earn a tidy personal sum for floating, selling, franchising, or implementing succession on their business.

But those who fail to plan their exit strategies in advance will experience a significantly less rewarding outcome than those that plan carefully, far in advance.

In fact, the statistics are rather worrying.

A study underwritten by MassMutual found that 67% of men and women investors/business owners had no plan of exit in writing. That’s over two thirds of the entire population of business owners and investors.

These people will be getting significantly less value from their business when they come to the point of exit, than the other 33% of business owners and investors.

Don’t follow the majority.

Our company, Exit and Succession Facilitation Limited (EASF) specialise in helping owners and investors of small- to medium-sized businesses exit their companies successfully and rewardingly.

We can not only help you to discover when you should exit your business, we will also help you to plan how you are going to part with your business. Different options suit different businesses, so it is important that every alternative is considered and explored before arriving at a final business exit strategy.

Over the past three years, we have helped many business owners to carefully plan their exit routes from their respective companies, allowing them to maximise their personal gains and be rewarded for their many years of hard work developing their businesses.

Get in touch with me, Bob Brown, at EASF today on 01709 810081 to maximise the value from your business. Don’t leave it too late!