An Exit plan is a customized process of setting goals and to make decisions on how these are best achieved. Developing an exit strategy must maximize the financial return, and minimize the tax liability. If you die or become disabled before you retire, the plan must be designed to kick in so a survivor receives full value.
There are many reasons to start a business, independence, financial security, or simply the pursuit of a dream. But, how do you plan to get out? With wealth locked inside a company an owner may wonder how to convert a business to cash. Creation and implementation of an exit strategy is the most important financial decision of a business owner's life. Unfortunately, most entrepreneurs don't consider this event until it's too late.