Most contractors are an independent sort—they start their own business, begin small, and then over time grow to a certain success level. But at some point every business owner faces an inevitable (and extremely important) question—How do I leave my business, on my own terms, and in my best financial interests? Creating an Exit Strategy explores the almost-never-mentioned topic of how a construction owner can successfully retire. The two primary exit strategies will be discussed, along with the important questions each owner must answer to make the best decision based on his unique needs and wants.
- Understand the two primary strategies—a short-term solution (fast money, less risk, but less long-term potential) and the long-term solution (less immediate money, more risk, but also the potential for greater long-term gain)
- How to choose between the two strategies
- Key steps to take once an exit strategy has been chosen