What’s your exit strategy
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Exit strategy for small business owners
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What’s your exit strategy
- 1. What’s Your Exit Strategy? Wray Rives CPA CGMA www.NeedaCPA.com
- 2. Lifestyle Company Minimal investment in growth Big take home pay for owner Live on the income Autopilot operations www.NeedaCPA.com
- 3. Exit Strategy-Just Close It • Pros • Easy • Low stress • No negotiations • No transfer of control • Cons • Leave money on the table • Post ownership finances • Reputation takes a hit www.NeedaCPA.com
- 4. Exit Strategy-Sell To The Kids • Pros • Comfort level • Little to no due diligence • More likely to preserve your legacy • Cons • Could still leave money on the table • Transfer of control can be complicated • Can challenge family dynamics www.NeedaCPA.com
- 5. Exit Strategy-Sell To A Friendly Buyer • Pros • Comfort level • Less due diligence • More likely to maintain status quo • Commitment to make it work • Cons • Still leaves money on the table • Could end a friendship when they find your skeletons www.NeedaCPA.com
- 6. Exit Strategy-The Acquisition • Pros • Bigger payday • Strategic buyers may pay more than it’s worth • Cons • Cultures clash in merged companies • Acquisitions are scary • Acquisitions are messy • Acquisitions are costly www.NeedaCPA.com
- 7. Exit Strategy-The IPO • Pros • Biggest payday when it works • You might get to ring the bell at the New York Stock Exchange • Cons • Only a very small number of IPO’s succeed • It takes time (5-8 years) • You will give up a lot of control • You need to be a grown-up company from day one • VC’s and investment bankers get their share of the pie www.NeedaCPA.com