The Importance of an Exit Strategy

The Importance of an Exit Strategy

One of the last things you may have on your mind when starting a business may be your exit strategy. After all, your initial focus is on building and growing your business. Exiting it isn’t even on the map yet.

This is understandable, but a clear exit strategy, even early on, can help you determine how to build your company and what you want to ultimately get out of it. Wouldn’t it be sad after all, if after years of building your company it would simply cease to exist upon your departure?

Do You Want Your Family to Take it Over?

Is your goal to build a business that will stay in your family? Should you be grooming family members in the business? Who would that person be? The company structure you set up now can help your family take over the company upon your exit later.

Are You Building it to Sell to Finance Your Retirement?

If your endgame is to sell your company as you near retirement, you need to build your company, so it can operate without you. This makes investing in your brand and customer list so important. Decisions made along the way when operating your business for a long-term sale should be made with that thought in mind.

Do You Want to Position it For an Employee Purchase?

Perhaps your long-term goal is to position it for an employee buyout, while you maintain an interest. This may help you recruit talent and help you structure it in a way to facilitate that buyout. Your exit schedule may depend on how well your company is prepared for an employee buyout.

Sometimes we can get locked into the process of operating a company and forget about our log-term goal. Our exit strategy is a critical component of that longer term goal and could very well impact the decisions we make when operating it.

What would you like to see happen to the company you have build when you are ready to exit it? It is worth some thought.

Of course, part of building your business is protecting it along the way. Business insurance helps. A well-designed business insurance plan can help protect your efforts and assets While protecting you from the potential financial losses associated with an injury liability claim. Contact one of our professional business insurance agents to get started on your free quote today!

Leave a Comment





Beyond the Grave: Burial Insurance vs. Life Insurance Explained

March 27, 2024

Cracking the Code: Your Car’s VIN and What It Means to You

March 26, 2024

The Aftermath: Proving Your Possessions After a Disaster

March 25, 2024

Lost in Translation: Skills of the Past That Young People Might Miss Out On

March 22, 2024

Beyond the Box Truck: When Does Your Business Need Special Vehicle Insurance?

March 21, 2024

From Bronze Age to Boomers: How Life Expectancy Went From Meh to Magnificent

March 20, 2024

From Chauffeur to Cheerleader: The Teen Driver’s (and Parent’s!) Guide to Car-Buying Chaos

March 19, 2024

When Branches Become Brawls: Who Pays When a Tree Attacks Your House?

March 18, 2024

From Pet Rocks to Pokémania: A Funtastic Journey Through 50 Years of Fads

March 15, 2024

Don’t Be a Sitting Duck: Essential Cybersecurity Tips for Small Businesses

March 14, 2024

Beyond “My Beloved Spouse”: A Guide to Choosing Your Life Insurance Beneficiary

March 13, 2024

Rental Car Roulette: Should You Spin the Wheel on Extra Insurance?

March 12, 2024

Bundling Up Your Homeowners Insurance: A Money-Saving Masterclass (or Myth?)

March 11, 2024

Bringing Home Baby: A Guide to Navigating the Joyful Chaos

March 8, 2024

See It All, Secure It All: The Hidden Benefits of Video Surveillance for Your Business

March 7, 2024

Life on the Edge? How Your Hobbies Can Affect Your Life Insurance Rates

March 6, 2024

The Costly Consequences of a DUI: Beyond the Backlash

March 5, 2024

Home Sweet (and Secure) Home: The Dynamic Duo of Maintenance and Insurance

March 4, 2024

5 Hot Cities Millennials Are Flocking To (and Why They’re So Awesome)

March 1, 2024

From Ride-Sharing to Reality: 5 Billion-Dollar Ideas Born in the Last Decade

February 29, 2024

Unveiling the Different Players (and Why We’re Your Guide!)

February 28, 2024

Beyond the Beep Beep: Unveiling the World of Supercars

February 27, 2024

Home Sweet Home, Protected Home: Why Upgrades Need Insurance Check-Ups

February 26, 2024

Beyond Nicknames: The (Sometimes Bizarre) Tales of How American Cities Got Their Names

February 23, 2024

Small Biz Squad Unite! Why Independent Insurance Agents Are Your Secret Weapon

February 22, 2024

Cracking the Code: Cash Value, Loan Value, Surrender Value – It’s All in the Life Insurance Policy!

February 21, 2024

Buckle Up for Safety: Are Cars Getting Smarter Than Crashes?

February 20, 2024

Love Your Home, Love Your Coverage: Smart Tips for Homeowners

February 19, 2024

From Herbie to Christine: Cars That Stole the Spotlight (and Maybe Your Heart)

February 16, 2024

Decoding Your Business DNA: Why SIC Codes Matter (and How We Can Help!)

February 15, 2024

Beyond the Payout: 6 Unexpected Perks of Life Insurance You Might Not Know

February 14, 2024

AutoPay Your Car Insurance? Cruise Control or Speed Trap?

February 13, 2024

Don’t Gamble with Your Home: Decoding the Odds with Homeowners Insurance

February 12, 2024

Employee vs. Contractor: Sorting the Suit from the Solopreneur

February 8, 2024

Poppin’ Pills and Counting Coins: America’s Prescription Drug Dilemma

February 7, 2024

Car Crash Calamity

February 6, 2024

Simple Steps to Keep Your Home a Flame-Free Zone

February 5, 2024

Ditch the Dinosaurs, Embrace the Dill: Your Guide to Quirky Museums Across the USA

February 2, 2024

Home Biz Hero: Should You Suit Up with Business Insurance?

February 1, 2024

Ditch the Piggy Bank, Grab the Plan: Your Adulting Health Insurance Guide

January 31, 2024

Oh Deer! Crash Course on What to Do After Hitting an Animal

January 30, 2024

Don’t Get Flooded with Surprises: Hidden Gems in Your Homeowners Insurance

January 29, 2024

Unveiling the Origins of Everyday Expressions

January 26, 2024

New Year, New Armor: 6 Ways to Shield Your Business in 2024

January 25, 2024

Life Insurance: Who’s Who in the Zoo (of Coverage)?

January 24, 2024

Private Property Crash? Don’t Panic, Just Play CSI! (Well, Sort Of)

January 23, 2024

Big Game Halftime Shows We Can’t Forget

January 19, 2024

Professionally Awesome, Legally Untouchable

January 18, 2024

Don’t Fear the Four

January 17, 2024

Cruisin’ Through Time

January 16, 2024

Treasure Trove or Insurance Trouble?

January 15, 2024

Baby Name Game: From Mary to Olivia, 100 Years of Popular Picks

January 12, 2024

Ditch the Clichés, Cupid! Budget-Friendly Valentine’s Day Ideas That Spark Joy, Not Debt

January 12, 2024

Oops! Employee Mishaps Got You Down? Insurance to the Rescue!

January 11, 2024

Cracking the Code: Why Your Health Insurance Bill Isn’t One-Size-Fits-All

January 10, 2024

Beyond Driving the Basics: 15 Life Skills Young Drivers Need (Before They Need Them)

January 9, 2024

Homeowner’s Insurance Secrets Revealed: 7 Quirky Factors Affecting Your Rates

January 8, 2024

The Fab Four: Unveiling Surprises About the Beatles

January 5, 2024

Bricks and Mortar: Protecting Your Small Business with Comprehensive Insurance

January 4, 2024

New Year, New Resolutions: 5 Ways to Refresh Your Life Insurance

January 3, 2024

Contact Us

-CONTACT US

OUR LOCATION

Have A Question?

We have an answer. Call us at 720-249-3038

11916 Washington Street Northglenn, Colorado 80233

720-249-3038

© Copyright 2024 Premium Advantage Insurance, LLC  |   All Rights Reserved
Site by ICA Agency Alliance

11916 Washington Street Northglenn, Colorado 80233
720-249-3038

© Copyright 2024 Premium Advantage Insurance, LLC  |   All Rights Reserved
Site by ICA Agency Alliance