Leaving your business is a big decision—one that comes with both emotional and strategic challenges. Whether you’re stepping away for retirement, a new venture, or simply ready for a change, planning ahead is key to ensuring a smooth transition for yourself, your employees, and your legacy.
- Build Business Value Early – Don’t wait until you’re ready to leave to strengthen your business. A strong company—one with solid culture, talented employees, and a competitive edge—attracts better buyers and transition options.
- Keep an Open Mind – You may have a preferred exit strategy, but exploring different options can help you make the best decision for all involved.
- Leaving Doesn’t Mean Letting Go Completely – Some strategies allow you to stay involved in a reduced role, whether as an advisor, shareholder, or mentor.
- Pass It to Family – Keep your business in the family by preparing a successor well in advance.
- Employee Stock Ownership Plan (ESOP) – Let employees buy shares, creating a built-in transition while keeping control as long as you’d like.
- Sell to a Third Party – The most common exit, where you sell based on business value and profitability.
- Manager Buyout – Sell to a trusted employee who knows the business inside and out.
- Sell to a Partner – If you have co-owners, they may be willing to buy your shares and maintain the business.
- Liquidate – The final option: sell off assets, pay debts, and close the business.
Choosing the right path takes planning and insight. If you’re unsure of your next step, Catalyst Group ECR can help you create a transition strategy that aligns with your goals. Let’s talk!
