Do You Have an Exit Strategy in Place?

You may be quering “why necessary to include business exit strategy for the organisation”? Well, you should consider the facts, it is a part of reality that not every business survives and statistically speaking more than 90% of new businesses quit in the first five years of business. This is one of the foremost reasons why having business exit plan is not an option when it comes to business valuation and employee incentives.

The business exit strategy basically refers to the steps involved in exiting the business if things do not go according to plan (i.e. Bankruptcy, selling due to personal crisis). The idea is to ensure that your exit transition from the organisation is as hasslefree as possible with miniscule or risk to yourself or the business which is ultimately the most important asset that will aid your retirement plans.

So take the time to brainstorm and plan your exit strategy as this is an important tasks that you will undertake.

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