Ever wonder what you’ll do when it’s time to move on from your small business?
Plenty of entrepreneurs ignore the idea because they either feel too trapped or too overwhelmed. That outlook not only makes for a chaotic future, but also keeps you from creating real value in your small business.
And that’s why I’m sharing my Three Ways to Exit a Small Business, to help you redirect and refocus your efforts and look forward to the future! Because thinking about retirement is supposed to be fun, right?
Click to tweet this: “Build value in your small business by focusing on how to get OUT of it.” @DaveCrenshaw
So, which combination of small business exit strategies is right for you?
We’ve got the dividend model, which is kind of like creating your own retirement fund. Simple, yet effective enough to build a solid foundation. The asset model requires our old friend, systems, and encourages you to make your business valuable enough that someone needs to buy it.
And last we’ve got the royalty model. This approach allows others to pay for the rights to utilize your expertise, even after you’ve put in the hard work.
Yes—a combination of these can work for any small business in any industry. Which exit model best matches your business? Try a few on for size in the comments section below and let’s work out any concerns you have creating your small business exit strategy!
Please join the conversation! I value every question and comment, and reply to them on my blog, so don’t be shy!
