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: a compass
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“It is amazing how much people can get done if they do not worry about who gets the credit.”
—Sandra Swinney
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Exit Strategy
You’re ready to merge, cash out, or pass the business on to the next generation.
Here are some steps to get you going.
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1: Exiting Strategy Options
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- Do you sell your business?
- Do you consider a business merger?
- Do you liquidate your business?
- Do you rid yourself of responsibility by hiring a manager?
- Do you divest or segment your business in preparation for sale?
- Do you file for bankruptcy?
- Do you close your business?
2: Naming Your Price
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- What is your business worth?
- Is there a valuation formula for your business?
- How much "good will" do you have?
- What are the legal and tax considerations of selling your business?
3: Selling Your Business
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- Are there buy/sell agreements in place?
- How does your exit strategy affect your personal estate plan?
- What are the legal and tax considerations of selling your business?
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