Episode 34: Episode 34: All Women Need an Exit Strategy- And How to Plan for Yours

 Whether you’re starting a company or knee-deep in one, EVERYONE needs an exit strategy. But I know that many of you aren’t even thinking that far ahead yet because you’re in the thick of growing your business. But I’m here to tell you that no matter where you are on the scale, you should always be thinking of your exit. Whether that looks like selling, stepping back and installing leadership or passing the business on to a family member, you should have a solid exit plan in place to avoid any hiccups or confusion. Your business is an asset that you have invested time, energy and yes, money into. It has revenue streams that support your salary, pays a profit and supports your employees. And if you’ve been doing it right, it is increasing in value year to year.  Planning your exit is the most commonly overlooked and the most difficult decision an entrepreneur has to make. It means you are transitioning into the next phase of life or business. Whether you’re leaving altogether or dramatically changing your role or involvement, it’s important for you to carefully evaluate your business plan, strategy and vision to determine what a favorable (and lucrative) exit looks like for you.  Today I’m talking with Sankeetha Selvarajah, and we’re going to break down the finer points of planning your exit. She’ll be talking about what an exit strategy is, how to plan for one, the vital components of the strategy are, and who should be included in the strategy planning.     But first, ask yourself 2 questions: -       Have I thought about what life after this business looks like? -       And, how can I make sure that when I walk away from it, I am sitting in a great financial position?