How to Exit Well With Cliff Spolander

Cliff Spolander, CEO and founder of Business by Design talks with Christina about the importance of having an exit plan in place right from the very beginning

He explains the importance of working on financial, personal and business plans to make sure that  you can successfully operate your business with effective strategies in place that mean you are prepared for the future and can exit well whenever this happens

KEY TAKEAWAYS

• It’s a flexible framework that people can use to understand where they are from a business, personal and financial perspective.
• A successful exit is when the personal and financial plans of  the business owner are met
• Exit planning is a good business strategy, and by removing the emotion you can view the company realistically
• Its understanding the objective of the seller and looking at it through the eyes of the buyer
• If you are going to sell, what are you going to do next
• Most people start with a vision but can find the business all-consuming resulting in the business becoming their identity
• For the majority of people, their business becomes their baby, but around 50%  will end up being forced out  
• People exit for a variety of reasons, but the key is to be prepared and have a plan in place