How Do I Make a Business Exit Plan?

What will we talk about at our Business Exit Event?

One of the things that we’re looking forward to talking to business owners about at our Eat Toast or be Toast event on May 5th is how to make an exit plan as a business owner.

There are a couple of key components we always recommend as part of forming a Business Exit Plan.

1. A Proven Process

First, you must have a proven process that will define the steps that will lead you through the creation of an appropriate exit plan. Too many times we see exit planning being done ad hoc without any formal process that is followed. The problem with that is often times too many things are missed. The organization required that they come up with the correct inclusions is often times missing.

2. A Written Business Exit Plan

Secondly, we always recommend the exit plan is written. This allows the Business owner and their advisors to memorialize the strategy that should be followed to accomplish those important goals in this transition. Of course, that exit strategy must change over time as you look to execute that exit strategy. Many things are going to change in terms of the business owners goals, the economy, employees, customers, and an exit strategy must be flexible enough to deal with these things. But memorializing that exit strategy from the start makes that strategy real and gives everybody on the team a game plan to follow.

3. Choose your Financial Advisor Wisely

Lastly, business owners should be careful about who they pick as professional partners in this endeavor. Unless a business owner wants to go it alone and some people do, you want to be sure you’re working with advisors that have the correct credentials, experience, and support to guide them through this important process.

We hope that you will join us at this event on May 5th. We look forward to seeing you then.



Published: April 6, 2016

Authored By: N. Perry Moore, CBEC™, CFP®, MBA

Phone: 812-602-6306


The information in this material is only as current as the date indicated, and may be superseded by subsequent market events or for other reasons. While all information prepared in this document is believed to be accurate, any statements of opinion constitute only current opinions of Payne Wealth Partners, Inc., which are subject to change and which Payne Wealth Partners, Inc. does not undertake to update. Accordingly, you should not put undue reliance on these statements. The information does not attempt to examine all the facts and circumstances that may be relevant to an individual’s financial needs. Payne Wealth Partners, Inc. is not soliciting any action based on these statements.

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Payne Wealth Partners, Inc.
Keystone Financial Consulting
601 N Cross Pointe Blvd
Evansville, IN 47715
Phone: 812-477-6221
Toll Free: 888-477-6221
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