When I asked an elderly business owner about his exit plan, his response was, "Exit plan? I'm not ready to exit! Come back and see me in a few years and maybe I'll be ready". I was stunned for a few seconds. That's like saying, "Retire? I'm not ready to retire. Come back and see me about your retirement plans when I'm ready to retire". It's too late!
Depending on the size of your company, you need to start your exit early. The bigger the company, the longer you need to plan. At HPX Advisors, our team looks at several different elements depending on the goals of the owner(s). Those componenets often include:
- Current Valuation
- Prefunding Models
- 2nd Tier Leadership Evaluations
- Increasing Value in the Busienss
- Deal Structure
- Entity and Ownership Structure
Putting off your Exit Strategy will only present poor consequences. Your eventual exit will probably represent the largest deal you'll do in your life - better make sure that it's done right. It doesn't take a lot of time and you'll find the process to be relatively easy when guided by an experienced professional. We have over 30 years of experience in this profession and would be happy to assist in planning and executing this important event.