Exit Strategy – More than Just a Buy-Out

In military strategy an exit strategy is used to minimize blood and treasure (lives and material). In business it’s not that much different. Having an exit strategy allows you to:

1. get out of an unfavorable situation with a pre-crafted plan
2. achieve an objective worth more than the cost of continuing the organization

When you start a business, determining a long-term plan should near the top of your to-do list.

The most common exit strategy is the sale of your business based on the valuation of your company. However, there are many other strategies and planning a back up strategy is not a bad idea. For examples of other exit strategies, see what Yahoo Small Business says.