Succession & Exit Planning Strategies

Succession & Exit Planning Strategies

65% of small business owners do not have proper exit plans in place. *

Succession Planning Is Business-Centric. It focuses on preparing the business for the owner’s exit. Specifically, developing continuity within leadership and management creates an ability to continue the operation following an owner’s leaving due to retirement, inability to work, or death. While succession planning is an important part of Exit Planning, it focuses on the business from which the owners departing rather than the owner themselves.

Exit Planning Is Owner-Centric. Exit Planning is a comprehensive analysis of all of the factors that affect an owner’s departure from the business. Exit planning goes beyond succession planning to also address issues directly relevant and critical to the goals of the owner(s).  Exit Planning is an intricate process in which Gladstone Advisors collaborates with the owner(s) to create and implement combinations of strategies and steps that uniquely address each owner’s goals and aspirations. In doing so, they are better positioned to leave the business when they want, to whom they want, and for the money they expect.

* Source: LIMRA Small Business Owner Report, 2009