succession planning

You have begun the journey of building your business and you’re now thinking about your exit.  Good for you; too many people leave this decision when they want to sell and they end up rushing their exit and potentially getting much less than they expected or working for a lot longer.   However, if you follow The 7 Stages, you’ll be in better shape than the majority of business owners as you’ll own a business that someone wants to buy or, if you’d like to step back and let other team members in the business take on the responsibility for growing and running the business, this will now be possible. 

Dare I say it, these new members may have even better skills and knowledge to grow the business and who knows? The new team with their newfound purpose could well ignite their passion for what you started and accelerate the growth of the business.  With a professionally drafted shareholders agreement and maybe expert advice from a financial planner, stepping down from the business could look like the rosy picture you dreamed of when you began your enterprise.