MYB129: How to Plan an Exit Strategy for Your Business

About this episode

Ben Fewtrell and David Carlin discuss the importance of planning an exit strategy for business owners, emphasizing the need to start strategizing early.

In this episode of the Max Your Business Podcas t, hosts Ben Fewtrell and David Carlin tackle a topic many business owners leave until the last minute: retirement and building a solid exit strategy . Preparing to leave your business requires a proper plan. Ben and David explore why you need to start strategising your exit today, even if you are decades away from retiring. They break down the realities of stepping away from daily operations and unpack the different pathways you can take to exit on your own terms. If you have ever wondered what will happen to your business when you are ready to hang up the boots, this episode is a must-listen. Episode Highlights: 00:00 Welcome to the Max Your Business Podcast 03:41 Why most business owners have no exit strategy whatsoever 05:56 When should you start planning your retirement? 08:20 Adopting the "everything is for sale" mindset 10:25 The reality of stepping out of day to day operations 15:15 Understanding the difference between business profit and your wage 20:00 Option 1: The trade sale and selling to a competitor 21:34 Option 2: Structuring a management buyout with your team 23:13 Option 3: Navigating family succession and keeping…

People in this episode

Hosts: Ben Fewtrell, David Carlin

Topics covered

• exit strategy
• retirement planning
• business operations
• selling a business
• management buyout

Keywords

• exit strategy
• retirement
• business sale
• management buyout
• family succession
• private equity
• asset sales

Mentioned in this episode

Organizations: Max Your Business Podcast

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