Business Management: Effective Exit Planning - How to Prepare for a Successful Transition in Ownership of Your Business

Presented by: Rick Schwartz, Schwartz Advisors; Mitch Williams, Schwartz Advisors

All business owners will eventually exit their business. It does not matter if your plan is to sell the business, transfer it to your kids, or just retire and go fishing, you will exit from your business at some point. As a business owner are you doing everything possible today to plan for a transition in ownership – even if the planned exit is several years down the road? A well-designed and implemented exit plan is a powerful planning tool that will enable you to: Achieve business goals; Maximize the value of your business; Ensure the survival and growth of your business; Have strategic exit options from which to choose. Planning for an effective transition in ownership is as important as any sales, marketing or product development initiative. As a business owner, when you take the long view towards an eventual transition or exit from your business, you not only enhance prospects for maximizing the long-term valuation of your business, you will enhance near-term profitability and performance.