The Wall Street Journal for Entrepreneurs lists five steps to a business exit strategy, but I'd add a sixth step, and it might not be what you think.
The Wall Street Journal for Entrepreneurs mentions these five steps to a business exit strategy: formulate your objectives, put an advisory team in place, hire a business appraiser, focus on increasing cash flow, and assign a transition manager.
For creating a successful business exit strategy, I’d add a Sixth Step to the plan: Add a professional writer and PR consultant to your firm in order to guide you through these additional essential steps to a successful exit strategy.
The Wall Street Journal article notes that for a successful exit strategy you cannot accomplish all that you need to do in a short period of time. The planning and stages will take from five to seven years. Adding a professional writer and PR consultant to the advisory and implementation team will ensure that the process of an exit strategy flows smoothly.
Keywords: Creating a successful business exit strategy, succession planning for your firm, steps to take before a buyout or merger, mergers and other business practices, what to do before the sale of a business, maximizing revenue before selling a business, essential steps to a successful exit strategy, what to do when selling a businessBorn to be Wild—Pain and the Active Baby Boomer
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