Are you ready to ‘Exit Rich?’ Not sure when to plan your exit strategy? In this episode, we are joined by Michelle Seiler Tucker to discuss planning your exit strategy from day one. Always be prepared. You must determine your destination as a business owner.
Here are three reasons why you should listen to the full episode:
- Learn the importance of planning an exit strategy from the first day of business. Click To Tweet
- Discover why some companies go out of business.
- Learn how you can plan an effect exit strategy.
Resources
Text Michelle to 888-526-5750;
Get a copy of Exit Rich at exitrichbooks.com
Episode Highlights
What Is An Exit Strategy?
- Michelle shared that when starting a business, you want to begin with the end in mind.
- Most businesses are not sellable because the owner did not build a sellable business. Click To Tweet
- She also shared that you must always remember that your business is your most valuable asset.
Why Is An Exit Strategy Important?
- With no planned end game, it’s very easy for business owners to get more caught up in the business they’ve given themselves as opposed to the long-term strategy behind running the business itself.
- An exit strategy keeps that endgame in mind and can make day-to-day decisions more strategic in nature.
- If as a business owner you have no idea where you are going, you will never know when you get there.
- Having an exit strategy helps you to define success and provides a blueprint for charting your progress.
What Does An Exit Strategy Involve?
- Here are a few areas to consider when trying to plan an effective exit strategy:
- Clearly establish your business goals.
- Set a realistic time frame.
- Clearly outline your intentions for the business.
- Know what’s next.
2 Powerful Quotes from This Episode
“Nothing lasts forever”
“Most business owners have built a job in which they go to work everyday, rather than a business that works for them”
About Michelle Seiler Tucker
Michelle is the Founder and CEO of Seiler Tucker Incorporated. As one of only three women in the U.S. who holds a M&AMI (Mergers & Acquisitions Master Intermediary) title and as a 20-year veteran in the M&A industry, she has a wealth of experience regarding buying, selling, fixing, and growing businesses. Her and her firm have sold over a thousand businesses in almost every vertical and have a remarkable track record of success. In addition to being featured in INC, Forbes, and USA Magazine, Michelle is a Keynote Speaker and makes regular radio and TV appearances on Fox Business News and CNBC. She has spoken alongside many prominent speakers: Eric Trump, Kathy Ireland, Mayor Rudy Giuliani, Donna Karen, Stedman Graham, Randi Zuckerberg, Steve Wozniak, and more. She is the Best-Selling Author of the book “Sell Your Business for more than It’s Worth” and has a new book coming out called “Exit Rich®.”
Have specific questions? You can reach out and follow Michelle on Twitter, Instagram, and Facebook.
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Stay inspired,
Heneka
