I left Gasper Corporation under my conditions that left me satisfied. It is best to leave under your own favorable terms.

Dave's Thoughts on Innovation and Technology:
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Succession Planning

Initial-Point-Succession-PlanningAll entrepreneurs will leave their business some day. The big question is under what conditions. It is best to leave under your own favorable terms. Here are the ways a business owner can exit:

  1. Sale to a Strategic Buyer (a buyer who places a premium on the business, its intellectual properties or its customers)
  2. Sale to a Financial Buyer (a buyer who is using a strict economical payback method to value the business)
  3. Succession to a family member (buyout)
  4. Sale to employees (ESOP or management buyout)
  5. Shut the business down. No buyer. Just stop the business and liquidate the assets.
  6. Bankruptcy
  7. Death

I tried to rank the order in which I would prefer to exit a business. An entrepreneur has built value in the business and thus it is preferred to get something in exchange for the business value during your lifetime

If you would like to discuss succession planning or sale of the business, please This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
 

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Initial Point assists small growing technology companies by offering advisory board services. The goal of Initial Point is to assist ambitious companies achieve the goals of growing market share and profitability via the proper implementation of effective business practices and systems.