Start Planning Your
Exit well in Advance
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How can you remove yourself from the equation?
Can the business function without you?
If not, find your replacement. This could be more than one person.
Training can be gradual. Delegate part of your responsibilities.
It will be easier to phase yourself out when it is time to sell the business.
Be sure to let company staff know new director’s role and authority.
Is there real estate attached to the business?
How are the loan guarantees structured?
Do you want to keep the real estate for yourself as an investment?
Are there loans with personal guarantees tied on you?
Look at loans on asset purchases.
Review lines of credit documents.
How have you prepared for the sale?