What is an Exit strategy?

What is your exit strategy? What plans are currently in place? It takes two …

We’ve often heard the phrase “businesses don’t plan to fail, they just fail to plan” but this task involves future planning and because it’s so difficult, many business owners just don’t bother.

If it’s a 5 year plan you’re looking at, (to retire or provide the start-up capital to launch a completely new business) then you need a clear roadmap to be able to get the business into a position where it can truly deliver the funds you hope to get when it’s sold.

Being unable to answer the question “How much do I REALLY NEED?” is a common one, and no clear answer means you’re probably already confused and need some help and advice.

Management accountants will be great at creating business forecast models and provide the steer to get the business in a healthy position to sell, but you also need to speak with personal finance people to discuss tax efficient strategies covering; pensions, ISAs, stocks and shares and the like. It’s a two edged sword and involves considerable hard work to even begin to get it absolutely right.

My advice – start now to secure meetings with appropriate professionals. Alternately, Skype me –  ianlinnegan for a further chat on who best to speak with (and, more importantly, why).

Step One

Using management accounting techniques and the budgeting process is key to answer the first challenge after you have decided how much do you really need. See other blogs on the site.


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