it exit strategy maryland dc virginia

Plan For Your Future: Build a Business Exit Strategy

Entrepreneurs extensively plan for building a new business. However, quite often, little to no effort is put into the planning of one’s exit from a business.

it exit strategy planning Source: BNPparibas

Many entrepreneurs don’t start planning until it is too late, resulting in the failure to achieve both personal and business goals. Failure to prepare a thorough exit plan may even lead to an inability to sustain one’s lifestyle after the exit, or may negatively affect the company’s performance.

It is therefore of utmost importance to plan your exit strategy years before your planned date to leave.

What is Exit Planning?

Exit planning is the process of strategizing the exit of a privately held company. Exit planning covers the business owner’s goals and objectives in terms of company value, employees and market position, as well as personal aspects such as family and the community.

These factors are then combined to identify an action plan that will help the entrepreneur to achieve his or her goals, in business and in personal life, through exiting a business.

Why Do You Need an Exit Strategy?

Exit planning is not limited to business owners who are ready to step down and retire. It is recommended to have an exit strategy in place years before your planned date of exit to maximize the possibility of attaining all your goals.

These are some of the most common reasons that lead entrepreneurs and business owners to set up an exit planning strategy.

  • New Beginnings
    Once an established business is up and running routinely, many entrepreneurs choose to leave their position as head of the company to start a new business.
  • Planning for disaster
    Natural, social, and financial disasters can significantly impact business operations and may lead your business to shut down or to change in ownership.
  • Ensure tax compliant
    In order to leverage opportunities, a business owner should start planning its exit strategy years in advance to leverage tax reduction opportunities.
  • Optimize cash flow
    Similar to leveraging tax opportunities, a business owner can maximize cash flow post-exit by careful and timely exit planning.

FREE Download: IT Exit Strategy in 10 Steps

Our 10 step checklist provides you with valuable step-by-step guidance from preparing tax and financial information to key relationships and contracts.

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Exit Strategy goals

Set Exit Strategy Goals

First Step to IT Exit Planning

The first step in planning an exit strategy is being clear on what your goals are, both for yourself and your business.

All of the different exit strategies available have their pros and cons. Some options allow you to retain a financial stake or various levels of involvement in the business, either in an advisory or day-to-day role. Some give your company a better chance of surviving in its original form, while others may see it broken up.

So ask yourself what’s important to you:

  • Do you want to stay involved in the business or have a clean break?
  • Do you want to retain some control over its future direction, or do you want to give the new owners free rein?
  • Is it more important for you to maximize your financial gain or to leave the company in good hands?

These are big questions, so try to spend some time thinking about them—this is not something you can squeeze into the odd half-hour between meetings. And your decision will probably affect other people too, so you may also want to consult your family members, your business partners or your staff before making a decision.

If you speak to staff members, of course, you’ll need to be sensitive about how you frame the issue, so that they don’t panic about their job security. But if you deal with it in the right way, it can be a great idea to involve them in the big decisions about the company’s future rather than keeping them in the dark.

Read full article: How to Plan a Successful Small Business Exit Strategy »

 

Sell your business with IT Exit Strategy

 

Advantages of selling your it business privately

Advantages of Selling Your IT Business Privately

Advantages of Selling Your IT Business Privately with ITExitStrategy

Selling a business can be complicated, but as a business owner, you have more options than you may realize. Choosing the wrong approach could have drastic financial consequences for both you, the owner, and your business.

A private sale with ITExitStrategy is understandably the easiest way to exit your IT business. There are many advantages to opting for this exit strategy.

Advantages

  • Can generate significant revenue
    Yes! You are in control of what you determine is an equitable arrangement for selling your IT business.
  • No brokerage fees
    Paying commission to the broker leaves the seller feeling discontented as a big chunk of the payment gets disbursed to the broker. Starting at 10%, they may go up to 15% of the whole amount which transforms into a lot of money. When you take the responsibility of selling your business privately, you effortlessly save this money which can be reinvested into other ventures. Thus you can earn a higher return on your investment and diversify your finances. → Check out how much you will save with our brokerage fee savings calculator »
  • Focused Attention
    Brokers are simultaneously working on a number of projects and it becomes difficult for them to pay individual attention to each sale. At times, the small business is neglected and remains unsold for a long time.
  • Quick Response time
    As the owner of the business, you know the company inside-out and are quick in responding to queries from prospective buyers. You can provide instant information on all aspects of the business, whereas an agent will have to consult you and then return to the buyer which can delay the process and lead to loss of interest from the buyer.
  • Flexibility to Make Changes
    Since you control the negotiations, you are free to make changes according to your needs and requirements without the worry of breaking a contract.

Demystifying the disadvantages

  • Requires suitable buyers.
    True – and ITExitStrategy offers vetted, targeted buyers who have expert knowledge of the IT business and assign a high value to your company.
  • Can take longer than expected
    An equitable arrangement can quickly be reached because there is no time wasted on trying to find suitable buyers. Which means you can get right to negotiations.
  • Fewer buyers, lower price
    There is no shortage of buyers when you choose to sell with ITExitStrategy! The more potential buyers for your business, the better, since then you can establish a fair market price.

Selling your business privately with ITExitStrategy is the best way to get the highest price for your IT business. It is not dependent on any third-party who can exert its control and take advantage of the situation to mint money. If you are putting up your IT business for sale in the DMV area (DC, Maryland & Virginia), then the smart way to go about it is with ITExitStrategy.

Looking to Sell Your IT Business?

If you are located in the DMV – DC Metro Area (Washington, D.C., Maryland & Virginia) and are interested in selling your Information Technology business please complete our seller’s form.

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IT Exit Strategy 10 Step Guide

IT Exit Strategy in 10 Steps Checklist

IT Exit Strategy 10 Step Guide

IT Exit Strategy in 10 Steps

Start Preparing Your IT Business for Sale

Have you ever dreamed of building a company so successful that after only a few years you were able to sell it to a bigger company? Then, you could take your earnings and relax, travel, work on passion projects, or get right back into the swing of things with a completely new venture. What you’re dreaming of is the execution of a successful exit strategy.

What is an exit strategy?

An exit strategy is simply a plan for what will happen when you want to leave your business. It describes and outlines the form that the transition will take. That’s it!

Your exit strategy doesn’t have to mean disaster or failure, or even imminent action—in fact, most owners start their business with the express purpose of exiting after X number of years. It doesn’t mean they are less committed entrepreneurs. It just means they are realistic.

Exit Strategy

Plan for the future

As a business owner, you should always be thinking about your next move. In some cases, that’s your exit strategy. Even if it’s not your exact next move, an exit strategy for a small business is something you should always be keeping in mind.

What will become of your business once you’re no longer involved, and how will you come out on top?

Exit Strategy Made Easy

We’ve made exit strategy planning easy for you with our 10 Step Checklist to prepare your business to sell!

As you know every major decision requires careful thought and preparation; and what bigger decision is there than deciding to sell your business?

To sell your business is not as simple as putting up a for-sale sign. There are a lot of things you need to take into consideration, and many steps to prepare. Making these strategic decisions will help you achieve the highest possible valuation of your company.

FREE Download: IT Exit Strategy in 10 Steps

Our 10 step checklist provides you with valuable step-by-step guidance from preparing tax and financial information to key relationships and contracts. Get your checklist today!

IT Exit Strategy in 10 Steps

Download my FREE checklist!

Sell your business with IT Exit Strategy and save money

Sell Your Business and Save Money

Selling a business privately is a booming trend around the world and in today’s economy, it’s not as difficult as one might think.

If you are an IT Small Business located in Maryland, DC, or Virginia – there is a buyer waiting for a business for sale like yours.

ITExitStrategy offers confidential, high quality, targeted potential buyers, giving you the best possible chance of a fast, successful business sale.

Why pay a business broker thousands of dollars in upfront advertising fees and up to 15% of the sale price? That is far too expensive for a small business owner.

Listing your business privately with us will give you the best chance of connecting with a buyer in the quickest and most affordable manner.

At the end of the day, there is no better person to sell your business than you, the owner.

See How Much Money You Can Save When Selling Your Business With ITExitStrategy