Strategic Planning Kit For Dummies®, 2nd Edition

Ensuring Your Business Continues after You Leave

The fact that you'll leave your business at some point is a given. If you've been ignoring this point, you're not alone. People start and run businesses for numerous reasons, and so much energy goes into that process that most owners never really consider how it may end. The reason most business owners avoid this entire discussion is because it's not the most inspiring topic. Nevertheless, setting a clear exit strategy is imperative to ensuring that your years of hard work pay off in the end. Take the self-assessment using the Exit Planning Assessment on the CD to see where you are with your exit planning.

Planning an exit strategy shouldn't begin when you decide to sell your company. Although setting aside time for planning in smaller organizations is hard because you don't have a person who can dedicate her time to strategic planning, take the time to make strategy part of your culture. After the effects of executing your strategic plan are felt, you'll realize that you didn't have time not to do it. I promise.

Knowing your options and a few best practices can make this task seem less intimidating. Check out the following sections on how to make the important transition.

Planning for transition

The best time to start planning ...