planner very early in the process to discover the multitude of overlapping considerations and to start making decisions about them.

My portion of the seminar discussed the importance of having well documented systems and processes in place. This documentation will add substantial value to the sales price Training manuals, customer and supplier lists to h

A few weeks ago I participated in a seminar on exit strategies – preparing for the sale of a business or succession to following generations. After the program, one of the people in the audience asked me why there are so many books, seminars, and other programs to help people start a business and so few to help guide people when they are at the other side of the business-owning process because, in many ways, it is easier going into business than getting out.

To get into business you need some capital to invest, an idea, and the time it takes to plan and put all the pieces together. While I’m not suggesting it, one can open a small business in a relatively short period of time – as little as a few weeks or months. To get out, unless one is very lucky, it takes much longer as there are many complex tax and estate planning considerations and valuation issues. Additionally you need motivated people who want to either purchase or carry on the business. The process can take a great deal of time, often it takes years.

An exit strategy needs to be planned carefully in order to accomplish the owner’s goals. At the seminar the speakers gave a general, “tip of the iceberg” overview of the many options and considerations available to the business owner(s) since each situation is specific, unique to each business and owner. The most important kernel of knowledge I came away with is to talk to your accountant, attorney, and estate planner very early in the process to discover the multitude of overlapping considerations and to start making decisions about them.

My portion of the seminar discussed the importance of having well documented systems and processes in place. This documentation will add substantial value to the sales price Training manuals, customer and supplier lists to hi

business-owning process because, in many ways, it is easier going into business than getting out.

To get into business you need some capital to invest, an idea, and the time it takes to plan and put all the pieces together. While I’m not suggesting it, one can open a small business in a relatively short period of time – as little as a few weeks or months. To get out, unless one is very lucky, it takes much longer as there are many complex tax and estate planning considerations and valuation issues. Additionally you need motivated people who want to either purchase or carry on the business. The process can take a great deal of time, often it takes years.

An exit strategy needs to be planned carefully in order to accomplish the owner’s goals. At the seminar the speakers gave a general, “tip of the iceberg” overview of the many options and considerations available to the business owner(s) since each situation is specific, unique to each business and owner. The most important kernel of knowledge I came away with is to talk to your accountant, attorney, and estate planner very early in the process to discover the multitude of overlapping considerations and to start making decisions about them.

My portion of the seminar discussed the importance of having well documented systems and processes in place. This documentation will add substantial value to the sales price Training manuals, customer and supplier lists to h

To get out, unless one is very lucky, it takes much longer as there are many complex tax and estate planning considerations and valuation issues. Additionally you need motivated people who want to either purchase or carry on the business. The process can take a great deal of time, often it takes years.

An exit strategy needs to be planned carefully in order to accomplish the owner’s goals. At the seminar the speakers gave a general, “tip of the iceberg” overview of the many options and considerations available to the business owner(s) since each situation is specific, unique to each business and owner. The most important kernel of knowledge I came away with is to talk to your accountant, attorney, and estate planner very early in the process to discover the multitude of overlapping considerations and to start making decisions about them.

My portion of the seminar discussed the importance of having well documented systems and processes in place. This documentation will add substantial value to the sales price Training manuals, customer and supplier lists to h

rder to accomplish the owner’s goals. At the seminar the speakers gave a general, “tip of the iceberg” overview of the many options and considerations available to the business owner(s) since each situation is specific, unique to each business and owner. The most important kernel of knowledge I came away with is to talk to your accountant, attorney, and estate planner very early in the process to discover the multitude of overlapping considerations and to start making decisions about them.

My portion of the seminar discussed the importance of having well documented systems and processes in place. This documentation will add substantial value to the sales price Training manuals, customer and supplier lists to h

planner very early in the process to discover the multitude of overlapping considerations and to start making decisions about them.

My portion of the seminar discussed the importance of having well documented systems and processes in place. This documentation will add substantial value to the sales price Training manuals, customer and supplier lists to hiring guidelines and office procedures will make your business more attractive to a potential buyer because they can learn the business faster and make it easier to manage.

To get out as easily and as profitably as possible, start planning your exit far in advance. You’ll enjoy the results so much better.