A business’s exit strategy should involve a more elegant solution than a desperate “fire sale” of assets. With planning, business partners can avoid unnecessary disputes while wrapping up their business.
This article appearing in Forbes provides some excellent guidelines about timing your business’s exit strategy. In general, the author recommends that business owners consider their end goal from the start of their entrepreneurial ventures.
Despite their best intentions, however, many business owners find themselves in the middle of fundamental disputes with business partners.
Whether the once-partners had originally intended to remain invested indefinitely or to work until the next opportunity presented itself, it can be a shock to face a sudden end to a dream. Much like a divorce, a business dissolution can destroy financial security and peace of mind. [Read more…]