Far too many business owners fail to plan for their eventual exit from their business. Some cling to the myth that a knight in shining armour will come riding along and make them an offer they can’t refuse for the business. Others simply get so wrapped up in the day-to-day running of the business that they never take time to plan for their future.

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The key principles of exit planning

• determine when, where and how you will leave the business
• maximise the value of the business
• decide whom you will sell the business to
• choose your successor if you decide to transfer the business rather than sell it
• use estate planning to protect your assets and transfer wealth with a minimum of taxes
• discover who and what you are beyond the business
• identify your true passions and callings
• find new ways to achieve the sense of fulfilment your business currently gives you
• set a course for the second half of life

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“Best practices – Exit strategy”

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“Selling up and maximising your return"

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