With so many paths to consider, you may find it useful to consult a map or establish a framework to get you out of the business-exit woods and to your post-exit destination. This is exactly what Phil Everson (a fictional owner) looked for as he began his exit.
Phil was assessing the pros and cons of various paths when he sat down with his Exit-Planning advisor, Doug. Phil told Doug, “I’ve been thinking about selling my business to an outside buyer, or maybe to my management team. Or maybe I should give it to my only child. All three have some advantages, but all three also have disadvantages. So, I’m stuck.”
Countless business owners have found themselves stuck on the road to a successful exit at one point or another. After all, most owners only ever have one experience selling a business that they’ve created and nurtured to the point where it could exist without them. But that’s precisely what you’ve done, and now you find yourself asking, “Now what? How do I choose the best way to exit my business?”
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