Why Bother with an Exit Plan? Entrepreneurs pour heart and hustle into building something special—yet most don’t plan for how they’ll exit. Whether you want to sell, merge, pass it on to family, or just slow down, having a succession plan sets you up to leave on your own terms (and cash out bigger).
Popular Exit Paths (and Why They Matter)
Key Point: No matter which path you choose, you’ll want your finances, team, and processes dialed in. Early Prep = Bigger Payday It might feel weird planning your exit while you’re still in growth mode, but that’s exactly the point. If you start 3–5 years before you’re ready to step away, you have time to:
I've always ran my businesses like I would own them forever, but prepared them so they could be sold. You never know when an opportunity may come up and you need to be ready. Getting Your House in Order Potential buyers (or your kids!) want a clean, efficient ship. Here’s how to tidy up:
Valuation Basics Ever hear the phrase, “Your business is worth whatever someone will pay for it?” True, but a pro valuation helps you set realistic expectations. An appraiser or M&A advisor reviews:
The more stable and diversified your revenue, the higher the price tag. And if you have recurring revenue streams with solid growth trajectory it boosts value even more. The Emotional Roller Coaster Many of us tie our identity to our businesses. Stepping away feels strange—like letting go of a piece of ourselves. But a good plan eases that transition. Communicate early and often with family, key employees, and anyone else affected. And start thinking about what you’ll do after the sale or handoff, whether it’s a new venture, philanthropy, or simply enjoying life. Pitfalls to Avoid
Your Next Steps
Your exit strategy might feel like a “someday” problem, but the best time to plan is before you actually need it. This way, you’ll protect what you’ve built, maximize the payoff, and set the stage for your next great adventure (whatever that may be). As Misfit Entrepreneurs, we aim for more than just profit—we aim for a legacy worth handing off.
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