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Preparing your exit transition plan from your business takes a great deal of forethought, analysis, and often outside expert counsel. Business owners often underestimate the time involved in the succession planning process, and because of that, the intention to ‘retire in a few years’ gets passed by. What’s needed is a clear business exit strategy, with defined goals at specific junctures.  Preparing your business exit transition plan is essentially creating the plan for finalizing your official status with the business, and wrapping up your full involvement in the company. Once you fully commit to this strategy, you will see yourself starting to make different decisions around the company’s operation.  You may start to delegate more of the nuts and bolts of operational aspects to others in the company. You may step back from hand-holding certain clients. You may inspire others to create new products to carry the company forward after you leave the firm. You may start to consider the...

Wind Mobile founder Anthony Lacavera has started 12 businesses, six of which he has exited. His exits have ranged in value from the $6 million he got for one of his recent start-ups to $1.3 billion when he sold Wind Mobile. He did it by following two key CEO Exit Strategy tips. •           Understand what kind of company you are running Lacavera has owned hyper-growth unicorns and lifestyle businesses and urges entrepreneurs to be clear about their long-term prospects. Lacavera started a business supplying hotels with internet access and understood the company would be a good cash generator, but would never sell for a mint. He ran the business for almost two decades and used the cash it generated to fund various other ventures. Recently, he finally sold the business, which was generating $1.5 million in pre-tax profit, for $8 million—a relatively modest 5 times earnings, which was fine by Lacavera, because it had served its purpose of funding other companies along the way. •           ...

Mark O’Brien, MBA, CMAA®, CEPA®, Managing Director of Value Growth Partners, a successful business growth, succession, and transition advisory firm, has added another high-level accreditation to his name and business. Mark has successfully completed the rigorous course requirements to become a Certified Exit Planning Advisor (CEPA®), as certified by the renowned Exit Planning Institute.   Being a CEPA®, Mr. O'Brien is now certified to lead business owners in the strategic process of successful business succession, transition, and exit planning.  “I have been blessed to know such wonderful mentors like Peter Christman, Richard Jackim, and Chris Snyder in the field of exit (succession and transition) planning,” said Mark O’Brien. “These experts have been very supportive in my goal to become a  certified exit planning advisor . I am thrilled to have learned and worked with them to be certified and I look forward to continuing to assist business owners with executing successful success...