The Importance of Having an Exit Strategy

DEDHAM, Mass. - Aug. 14, 2016 - PRLog -- Part-time Chief Financial Officer, Michael Barbarita, preaches the importance of proactively developing an exit strategy in his latest blog post.  In one way or another, there will come a day when you will no longer be with your business and you need to prepare for that day.

If you do not know where to start, Michael compiled a checklist to consider when planning an exit strategy:

· Determine the value of your business through certified business appraisal

· Determine how much money you need to live and be comfortable

· Determine when you want to leave your business

· Determine whether you sell to a third party, family member, or employee

· Use your advisors to guide you through the process

· Build value in your business by keeping and motivating key employees

· Do not become an irreplaceable employee in your business

· Work with your advisors to put together an estate plan

Using the checklist above to plan out an effective exit strategy is the best way to get maximum value for your business.

The entire blog post can be found at:

http://cfo-chief-financial-officer.blogspot.com/2012/04/cfo-services-executing-exit-strategy.html