Global Resources is a full-service business development group and general management consulting firm focused on small and medium-size privately-held companies in North America.
At Global Resources LLC, we recognize that some small business owners plan an exit early on while others question why they may need an exit strategy. Below are some examples why savvy business owners plan an exit:
- Outside investors want to collect their profit. Remember that equity investments are not like loans with interest. The investor sees no return until he cashes out, or the company is sold. Three to five years can be a long time to wait for any pay check for reimbursement.
- Family member is ready to takeover. Some of the most successful transition plans are between current and future generations in a family business. The plan may include provision for the current management to one day relinquish control and management, allowing the new generation to pursue their own plans and strategies for the business.
- Entrepreneurs love the art of the start. Assuming your startup takes off, you will probably find that the fun is gone by the time you reach 50 employees, or a few million in revenue. The job changes from creating a “work of art” to operating a “cookie cutter.” In three to five years, you will be anxious to start a new entity, with new ideas and spinoffs that have built up in your mind, and certainty that you can avoid all those potholes you hit the first time around. If your startup was less than a success, you’ll definitely want to erase it from memory.
To learn more about us and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266.
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