Exit Strategy, A Must-Have for Business Owners
Whether you’re launching a new Denver business or currently helm an established and thriving venture, putting an exit strategy into place may be the farthest thing from your mind right now. But, do you plan on running your business for the rest of your life, or do you see yourself retiring and living a life of luxury on a Caribbean beach someday? While your business might be your passion today, there may become a time when you’re ready to step away.
And not to be morbid, but what happens if you become incapacitated or pass away unexpectedly? If you want your children or other family members to inherit the money from the sale of your business, or take over its operations, a lack of exit planning could leave them in legal limbo – or empty-handed.
At True Resolve, we’ve worked with numerous entrepreneurs and business owners in the Denver area, helping them implement their plans for the future. Interestingly enough, establishing their exit strategy actually motivated many of our clients by giving them a tangible end-goal to strive towards achieving.