MTFW: Finding a Way Out
Starting a business is filled with challenges. Even once you have your business up and running, the challenges don’t stop. For example, finding a way to get out of your business when you are ready to retire. There are several choices: selling the business, transferring it to employee or children, or simply shutting it down. This week we spoke with business transition expert Chris McEvoy about things you can do now to smooth they way for your exit down the road. Surprisingly, many of Chris’ comments were about things companies should do in the very earliest stages of their...
read moreDo You Have a Way Out?
Many of the business plans we write for clients are used to secure tradional bank loans. But every now and then we write a plan for a company looking for investors or money from VCs. In those plans, the exit strategy ( how investors will get their money back) is critcal. If you are considering bringing investors into your business there are pros and cons. The influx of cash is a “pro” but the loss of control is a “con”. Ir you are going to go this route, be sure you define exit stratgegy before you finalize the deal. Is this a temporary loan, or are you...
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