Creating Business Value—Having an Exit Plan

Begin with the end in mind.

—Stephen Covey

In his book The 7 Habits of Highly Effective People, Stephen Covey lists the second habit as begin with the end in mind.1 I am using the quote in my final chapter because I believe firmly that your exit plan is something that you should be thinking about from the very beginning. I don’t mean that you should be thinking about selling from day one or that you should focus on whatever your end game is every day. What I do mean is that you should be making decisions every day that will build the value of your business so that when the time comes for you to execute an exit strategy, it simply becomes the next step of a plan created years before.

Covey ...

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