From the course: The 45-Minute Business Plan
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Define your exit strategy
From the course: The 45-Minute Business Plan
Define your exit strategy
- Finally, in the Strategies & Implementation segment, you'll want to include an exit strategy. In my experience, this is one that's really hard for people to address, as no one wants to plan to exit the business. But keep in mind, this does not always mean closure, although you still want to address that as well. This could mean you plan to grow and sell the business, so speak to that. However, at a minimum, you'll want to show that you have planned for contingencies. This will be roughly four to five paragraphs about how you will handle any turbulence the business may have in the face of potential closure. The goal of this is to show how you plan to ensure the investors will receive the return of their investment, regardless of the success or failure of the business. For example, you may say something like this. "It is the intent of the current owners to continue to operate ABC LLC for the next 50 years, unless a viable…
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