Lessons in Sustainable Business Growth
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The “magic” behind a great exit

Host:  Joel Goobich, Big Picture Advisors

Featured Topics: Business Exit Plan, Exit Strategy, Succession Planning, Exiting a business

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Create a roadmap for your business exitExiting a business does not involve any magic. There is no great “magic” trick where a magician waves his wand and ‘poof’ in a cloud of smoke you disappear and exit to the next big thing in your life.

Here’s a simple fact – Everyone Exits. (Nothing earth shattering in this pearl of wisdom).

On this episode, I discuss the concepts and importance of planning a business exit well in advance of the actual event.

This podcast was originally produced in 2011 as part of a blog talk radio episode and has been re-edited. The lessons and information are still as important and relevant to every business owner.

There are many ways to craft a business exit plan and exit strategy. But they all include the same core items, such as objectives, mental, financial and business readiness, exit options, implementation, assembling an exit team.

The Business Exit Planning Process

Terms/Concepts

Exit Plan, Exit Strategy, Business succession, business transition, Selling a business, ESOP, Management buyout, Private Equity

The Big Picture (Episode Feature) Question

How much time, thought and energy have you put into the big picture question of how, when and under what conditions you will exit your business? Is it less than the amount of effort you put into starting or purchasing the business?

Host Information

Joel Goobich, President
Big Picture Advisors llc
www.bigpictureadvisors.com
843.216.2493
joel@bigpictureadvisors.com

Tip/Offer of the Week

Take some time to envision and write down who is the ideal new owner or manager of your company.  If you were to ‘hire’ someone to take over what you have built, what personal attributes and business skills should they possess? How will they fit in with the business culture you have created? Will they have the same (or better) chemistry with your employees, vendors, clients?

Keep this ‘strawman’ in mind as you begin the process of exiting your business.

Worksheet of the Week

Are you ready to exit today? You may be closer than you think.

Additional Reading

 

 

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Big Picture Advisors llc
Address:
636G Long Point Rod #30
Mt. Pleasant, SC 29464
Phone: (843) 212 5709
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About the Host

Joel Goobich is a big-picture guy with sharp insight into how individual parts make a strong whole. He has 30+ years of entrepreneurial endeavors; starting, building and exiting businesses. He is tireless in the pursuit of solutions to boost your business and put you on a track to a profitable transition and exit to your next act.