Business Growth > Entrepreneurship > Exit Strategy
Few people understand – especially those just starting a business – that the best time to create an Exit Strategy, also called a Strategic Withdrawl plan, is the same time the initial business plan is developed. The Exit Strategy is a deliberate, adaptable, and customized process that a business owner uses so that s/he can leave the business on his own terms and schedule. Here are some questions to ask when developing the Exit Strategy.

• When do you want to exit the business?
• To whom do you want to transfer the business?
• What value would you like to receive – income for life, lump sum?
• What are the tax consequences of various options?
• Is Business Continuation an issue? Pride of ownership and keeping a family name alive are just a couple of reasons owners may want to keep the business going.

For additional information on how to exit a business, click here.