As a business owner, you will eventually leave your business. The exit path you follow, and the successor you choose, is critical in determining the quality of your life. A successful exit must meet both your financial objectives, as well as your value-based objectives.
There are four primary paths to transfer or sell ownership in a business. You can gift or transfer ownership to family members, sell to a partner or a key group of managers, create an employee stock ownership plan (ESOP), or sell to a strategic or financial third-party buyer. The most important consideration is to select a path that will generate enough income for you to live a comfortable lifestyle.
