When running a business, owner-operators tend to focus on the here and now – and rightfully so. Operating a business is a never-ending quest to optimize what works, spot and fix what doesn’t, and adapt to an ever-changing environment. On the other hand, creating a...
From a strictly legal perspective, an “exit” refers to what’s commonly called a “change of control transaction”– one where a majority stake in the ownership, or in the voting rights, of a business is transferred to a third party. But from a business perspective, an...
Contrary to popular belief, exits aren’t limited to the sale of a business to a third party or a flashy, newsworthy IPO. In reality, in any one of their many forms, they’re an inevitable endpoint in every entrepreneurial journey. As such, they should be considered...
No two exit strategies are identical – industries and markets, as well as individual businesses and founders, simply vary too much. Any program or course that presents one exit strategy as “the best” should be apprehended with caution. It probably underplays the...
Exits come in more shapes and sizes than most people realize. While the permutations and variations between these are virtually endless, there are eight basic exit “archetypes” available to business owners as they look to the road ahead. Each can be pursued as its...
Preparing a business for an exit and the inevitable due diligence it will go through is more of an exact science than designing an appropriate exit strategy. Exit strategies involve grappling with the uniqueness of founders, buyers, and individual businesses. Exit...
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