Feedback Form
Home Features Mastermind Forums About Advertise Blog Network Contact Be An Author

Ready, Aim, EXIT! Why Exiting Planning NOW Will Benefit Your NOW

Ready, Aim, EXIT! Why Exiting Planning NOW Will Benefit Your NOW

Exit planning is an integral part of a successful, comprehensive business plan. But most business owners are so busy growing their business that the last thing they stop to consider is their Exit Strategy. If you really want to build your company to be all that it can be and more, you need to establish right up front what you’re going for and what it means to you when you get there.

To be clear, effective exit planning focuses on, “When is the best time to leave this business?” not “When is it time for you to get out of the business or retire?”
Having a plan doesn't mean that you have to be old and exhausted to act on it.
In fact, the best time to exit may be when you are at the top of your game!

In increasing order of desirability, there are six ways to exit a business:

1) Bankruptcy
2) Liquidation
3) Sell a job
4) Sell to a family member
5) Sell to a financial buyer
6) Sell to a synergistic buyer

A seventh way—IPO—is a glamorous notion, but it's not usually realistic for most privately-owned businesses.

Simply put, an Exit Plan allows you to sell your business at the highest reasonable price and, equally important, actually receive that purchase price.

Entrepreneurs typically don't make Exit Planning a priority because they don’t realize how critical it is to have a plan well before they'd ever need it. They believe that exiting is something that may happen in the future; making money is something that must happen today. Of course, making money today is important. But a well-crafted exit plan will actually make money for you long before you execute it.

You know how tough it is to deal with the urgencies and emergencies that are in front of you right now, right? You don’t want to spend valuable time on something that's way off in the future, lumped in there with retirement planning in the land of "someday.”

Investing time and energy in crafting your Exit Plan isn't going to save the day immediately, right?

Wrong.

A properly crafted Exit Plan can provide tangible benefits now, and an even bigger payoff later.

NOW:
• More profit
• More cash
• More time
• More fun
• Less risk
• Less stress
• More clarity and confidence

LATER:
• Double the value of your business
• Receive that value in cash
• Be ready to take advantage of unexpected opportunities
• Enjoy your freedom
• Do it again – if you want to


The impact of having an exit plan hinges on the Power of Intention.

1. When you maintain an awareness of the bigger picture, even while you are dealing with daily challenges, you naturally raise your level of energy, enthusiasm and intentionality.
2. Spurred by your intentions, you naturally incorporate the appropriate structures, strategies, and systems into your business to best achieve your exit objectives.
3. As a result, a cascade of interrelated events and resources comes together to make your vision of the future a reality.

Building value into your business is what an exit strategy is all about. You can wait until later to build value, but cannot recoup tomorrow the value that you failed to build today. An Exit Plan helps you to build stability, expandability, and scalability in to the operational design of the business as you:

• Build tangible value in to your business while providing outstanding value to your customers.
• Build the structure that helps you to realize the optimal potential and worth of the business.
• Build systems that will allow you to focus on what you enjoy and do best and on where you can make the greatest impact.

ACTION PLAN:
If you intend to build maximum value into your business every step of the way—rather than several years (or worse, several months) before you want to exit— here's what to do:

1) Schedule one hour a month to developing your Exit Strategy in your calendar and honor it.
2) During your first hour of exit planning, write down all the reasons why you want to avoid dealing with exit planning.





Ready Aim EXIT Why Exiting Planning NOW Will Benefit Your NOW - To learn more about this author, visit George C. Huang's Website.

Like this article? Share it with your friends

Article Feedback
 Article Feedback No article feedback found.
  Leave Your Feedback
article feedback

Article Feedback
Evan Carmichael
I've created this section on my site to share some of the incredible tools that I've used to build my business. I hope you too can benefit from them and look forward to hearing your feedback on the reviews! - Visit Evan Carmichael's Website

Anne Barr
Anne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website


To learn more about the Evan Elite Author Program please contact us.

About The Author


George C. Huang
(Visit George's Website) Dr. George Huang is known as the authority on the anatomy of the freedom-driven business. He helps entrepreneurs enjoy greater levels of freedom in their lives, deepen their contribution to their customers and clients, and achieve their revenue goals. George created the Freedompreneur Training Center for entrepreneurs, coaches, and consultants to learn the best principles and practices for creating high-performing businesses. http://freedompreneur.com George also created the Six-Figure Success School for coaches and consultants to teach them the principles and practices he used to create a six-figure, recurring revenue stream in less than 90 days. Under his guidance and using his documented systems, one of his clients bested George's record and created his own six-figure revenue stream in 70 days!

George C. Huang is a Gold author on EvanCarmichael.com
About The Author

View Author Blog
View Author Blog

View Author Video
View Author Video

Free Downloads


George C. Huang's

Complete
List Of
Business-Coach
Articles

Name
Email
If you enjoyed this article, get George C. Huang's Complete List of Business-Coach Articles For FREE!

More George C. Huang
Abandon Your Business PlanIf You Want to Take Your Business to the Next Level
How the Sinking of a Great Warship Can Make Your Business Better
Are You Guilty of Shotgun Marketing
Ready Aim EXIT Why Exiting Planning NOW Will Benefit Your NOW
Dont drown from the effects of Riptide Marketing
Distraction Control The most important skill for consistent highperformance in your business
The anatomy of failure Four questions to ask when your marketing isnt working
Get rid of your customers immediately
Is your business a kitchen table or barstool
Build it and will they come A business tip from Thomas Edison
Free Downloads


 
 
 


Evan Elite Authors
John Brennan  
Kim Castle  
Leanne Hoagland-Smith  
Evan Elite Authors

Become An Author
Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details.
Become An Author

Evan's Latest Video
Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media
Evan's Latest Video

Business Opportunities
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"

How to Start An Online Business

Click Here To Learn More
Business Opportunities



Evan's Newsletter
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
Name:
Email:
Evan`s Newsletter

Free Downloads
Get a Top 20 Ranking Icon Get a Top 20 Ranking
Addictive Entrepreneurship Icon Addictive Entrepreneurship
Managing the Unimaginable Icon Managing the Unimaginable
Think Networking Icon Think Networking
Referral Networking Solution Icon Referral Networking Solution
Free Downloads - Complete List

Entrepreneur Tools and Guides
The Top 10 Guy Kawasaki Posts - Best Posts for Entrepreneurs
The Top 10 Guy Kawasaki Posts
Best Posts for Entrepreneurs
 
Top 50 Marketing Blogs
Top 50 Marketing Blogs
Top Marketing Blogs of 2009
 
Entrepreneur Tools and Guides

SEO For Africa
SEO For Africa
Apélété Djanato Aného, Togo,
SEO For Africa

If I Were A Startup...
Jonathan Voigt, $214k to $507k in 2 years
Jonathan Voigt
$214k to $507k in 2 years
Gord Hotchkiss, $113k to $1.5 Mil in 5 years
Gord Hotchkiss
$113k to $1.5 Mil in 5 years
If I Were A Startup... - Complete List

Famous Entrepreneurs
Vince McMahon, WWE
Steve Jobs, Apple
Famous Entrepreneurs - Complete List

Entrepreneur Advice
Jay Conrad Levinson, Guerilla Marketing
Jay Conrad Levinson
Guerilla Marketing
Brad Feld, Venture Capitalist
Brad Feld
Venture Capitalist
Entrepreneur Advice - Complete List

Popular Articles
(Premium Authors)

     Get your visitors to voluntarily give you their contact information
By Keith Thirgood
     Where is King Content?
By Keith Thirgood
     Your Marketing Message
By Keith Thirgood

Have A Suggestion?
Toronto Salsa Classes / Toronto Salsa Lessons Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
Have A Suggestion?

More Evan Carmichael
More Information