Sooner or later, every business owner needs to develop an exit strategy. When they do, they begin to realize that how they exit their business will likely have a serious impact on how they will be able to spend their retirement years.

Before deciding what exit strategy to pursue, ask yourself these questions:

n       How much annual income are you going to need from the business to live comfortably in retirement?

n       How much is your business worth today?

n       If you have a gap between the fair market value of the company and the amount you need for retirement, what is your plan for closing the gap?

Now, with a better understanding of the core issues, you can begin to think about who is going to take over. Will it be an insider, a strategic buyer or a financial buyer? 

CFO-Pro has a systematic approach to assessing your options for exiting your operation that can help you more successfully navigate what could turn out to be your ultimate business challenge.