Business plans often address marketing, growth, and product development issues. However, business owners fail to create an exit strategy, succession plan, or acquisition plan.

Although you may not ready to sell your business or retire now, preparing for the future of your business is crucial. You should decide who to leave your business to when you retire or if you unexpectedly die. You can also include contingencies for an injury, illness, or incapacitation.

Types of Business Exit Strategies

When you decide to leave your company, multiple options are available, including:

When You Need a Business Exit Strategy

You should think about the exit strategy you want to implement. Mishandling the transition of your business can lead to unpleasant consequences. You need to create a solid exit strategy soon if you wish to implement any of the following plans:

Benefits of Creating a Long-Term Exit Plan

There are multiple advantages to developing a long-term exit plan for your business, such as:

Contact Our Business and Estate Attorneys

You don’t necessarily have to have one foot out the door to plan a business exit strategy. Preparing for what might happen in the future protects your interests and your family’s future.

Talk with one of our experienced business and estate planning attorneys today to learn how we can help. We will review your circumstances to create a plan to meet your business goals and ensure you can care for your loved ones even after you’re gone.

Schedule a consultation with us today.


This article is a service of Miller & Miller Law Group. We do not just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love.