Leo Klijn - In Any Event Start Exit Planning Early (F1317)

                In this 1 minute highlight, Leo Klijn, Exit Strategy Planning, Henberger, discusses the need to start planning for your Exit early no matter how you think your business will transition. Transcript Bill: In all the interviews we’ve done with professional advisors, we keep hearing it’s too plan early for your exit, but what about when you’re expecting for a private equity firm to come in and buy out part of your company?  We asked exit planning expert Leo Klijn for his advice on when to plan. Leo: First question venture capitalist firms or private equity firms will ask you is, what’s the exit strategy? So, I would argue that every business should have a business plan, and the most important chapter in a business plan is the exit plan, so it’s never too early to have an exit plan. If you haven’t done one, at a minimum, I would argue 3-5 years before you get out. Because the single biggest value driver is the strength of your management team, and what I find in our space is that most of the time the owners play a good role in running the business, if that’s the case replacing that often takes time.”    Grow your business value at www.BizGrowth123.com