Develop a succession plan or exit strategy for a business. Within your response, be sure to discuss which elements are essential to this succession plan or exit strategy. Provide support for your response.
Be sure to respond to at least one of your classmates’ posts. Please respond to the post below also.
Krista HernandezCintron
RE: Week 11 Discussion
A business exit strategy is part of the long term goals for a business. An exit strategy for a business could be the final step the business owner has for that specific business. They could sell the business or have someone else run it and still make profit off of it. What is the reason to follow through with your exit plan? Are you trying to leave the legacy for your children? Maybe venture off into a different business and leave this one behind? It is important to understand the reason why you would move forward with the plan and how it will benefit you as a business owner. Every company should come up with a business exit strategy for when the times comes and they have that plan in place.
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