As you manage your business and take daily actions that are aimed at helping it grow and be more successful, you are probably more focused on the now of your business rather than the future, especially as that future pertains to passing your business off to someone else. But no matter who you are or the phase that your business is currently in, there will come a time when you are no longer able to manage your business, or no longer want to own your business. When this time comes, having a succession plan and exit strategy in place is critical. At Harvest Wealth Partners, our experienced professionals can guide you in creating a successful plan for your business when ownership is no longer an option for you.
Our team of experienced business succession planning professionals will review all potential exit strategies available, and help you select the exit strategy that is best for you. Some of the most common exit strategies that business owners employ include:
The exit strategy that you want to employ depends on your preferences and desires for your business and your own personal legacy, as well as the market that you’re operating within and the opportunities available to you (i.e. selling a business on the open market for a reasonable price isn’t always an option).
At Harvest Wealth Partners, we can help you to design a business succession strategy that works well for your needs. We also remind you that if you put a plan in place now, we can always amend this plan at a later date if your mind or circumstances change.
To learn more about business succession planning and exit strategies for your Indiana business, contact our professional business financial planning firm by phone today at 219-864-5050.
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