Succession
An exit strategy is an owner's plan for how and when to leave a business, such as through a sale, a recapitalization or a handoff to the next generation.
An exit strategy is your plan to step back from the company and turn your work into value. Common paths include a sale to a competitor, a sale to a private equity firm, a recapitalization, a handoff to family or a management buyout.
For example, an owner aims to step back in three years. The plan lists the steps: build a second layer of managers, clean up the books, and start talks with buyers in year two.
Planning matters because the best exits take time. Buyers pay more for companies that run without the owner, with clean records and steady growth. A rushed exit often means a weaker price or weaker terms.
Think about what you want: cash, legacy, a role afterward, care for your team. Then choose the path that fits. See your options in business succession and exit options. Related: succession planning.
Related terms
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