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Although it may seem too early for you to consider, we discuss contemplating the plan for exit strategies for Small Business Owners.
As you will hear in this audio episode, Chris Benjamin acknowledges that you should at least have a general plan for which type of exit you would prefer. And you can then plan for that as a direction for which you want to take your company. That does not mean that your exit strategy has to be rigid and unchangeable, for you should periodically review your exit strategy and plan (if you have documented it) and make any updates, if needed.
As a CFO, Chris has seen many firms execute their exits. And not all exits will be the way you may have dreamed — e.g., being bought out by a large firm like google.
From the old idealistic approach of “going public” and having an IPO (Initial Public Offering) to some creative approach to the exit of a “hybrid” situation, Chris briefly explains these types of exit strategies that a startup or small business owner should start to consider in looking forward or “beginning with the end in mind.”.
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