As a business owner, you must wear many hats and dedicate your time to several areas of the company. For most business owners, your company is the largest asset you have so it is critical to plan for a time where you choose to sell the business or leave the company. Exit planning is a critical component of business planning that most owners overlook, but at Mohr Financial Group, we are here to help guide you in this important process.
While investing in the company itself is important, it is vital to create a plan for yourself so that you have financial independence, when you move away from the business. There are many important factors to consider in an exit plan including:
Creating an exit plan is an important way to plan ahead and should be cost efficient while providing provisions should the business need to be transferred or sold.
A well-crafted exit plan will set measurable goals that aim to protect and grow the value of the business, while minimizing taxes.
The exit plan should be flexible allowing you options should something unexpected happen.
Owning a business comes with many responsibilities and the last thing you want is to lose the business if something unexpected occurs. By creating an exit plan now, you can have the confidence that you will be covered in the future.
Would you like to work with our experienced business consultants for crafting your exit plan? Contact us at Mohr Financial Group today to schedule your appointment.