Exit planning consists of several processes and takes a practical, steady approach to ensure your wealth, assets, and legacy are secured. I encourage my clients to ask as many questions as possible: your exit is just as monumental to yourself and your family as the moment you’ve created your business. To learn more about what you’ll need to create a successful exit plan, here are some questions to consider asking your coach to gather as much information as possible.
What Goes Into an Exit Plan?
Exit planning is a comprehensive process to secure your wealth and assets. You’ll need to choose the best exit strategy based on your business profits and the legacy you want for your family. A coach will inform you of all the details to consider when making an exit plan, giving you an idea of what other resources (such as a financial advisor, accountant, or lawyer) you may need to secure a successful exit plan.
What are the Best Exit Strategies?
Your exit plan is highly individualized. However, knowing your coach’s perspective on what they think are the most optimal exit strategies may invite you to explore another possibility that may prove more efficient, sustainable, or lucrative.
What Is the Difference Between Estate and Legacy Planning?
While many think creating a Will and setting up their estate is sufficient, a legacy plan incorporating generational legacy strategies provides the most security you can acquire for your wealth and assets. Learn more about the significance of both to understand how to best proceed with securing your legacy.
What’s the Difference Between a Business and an Exit Planning Coach?
Learn what makes business coaches who provide comprehensive exit planning different from other coaches to understand the qualifications, knowledge, and experience of the coach you’re consulting. Understanding their knowledge of the exit planning process will also give you an idea of what your planning process will involve and reveal elements of exit planning you may not have known before.
What’s the Difference Between Exit and Transition Planning?
While both processes prepare your company for a transfer of ownership, they are distinct and create different results. Ask your coach to learn more about your current ideas about planning and discuss whether a transition or business exit plan is currently the best approach.
Should I Make an Exit Plan Even If It May Not Happen For Years?
Many business owners and entrepreneurs put off exit planning because they assume it’s more practical to wait until they’ve run their business for years. A coach will give you insight into why creating an exit plan will be advantageous in optimizing your business and establishing your legacy in the long run.
To receive individualized exit planning services, you can book a consultation with me today to get started.