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Planned Exit Strategies
What is going to happen to your business when you decide to leave or retire? Making plans for that day should be part of your long-term planning for the business. Depending on your goals, you may want to sell the business outright, groom a successor from your family, sell to employees, or a number of other options.
In any case, don't wait until the last minute. An exit strategy can take many years to implement. You will want to consult with others before making the plan: your family, employees, your accountant and lawyer may all have valuable input that will affect your decisions.
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