Have you thought about your exit strategy?

Why planning your way out is just as important as planning your way in.

When you start a business, you’re usually focused on getting clients, building a reputation and making money. The last thing on your mind is how you’ll leave but here’s the truth: every business owner will exit their business one day. The question is, will it be on your terms?

Most small businesses don’t go in with a plan for getting out. There’s no roadmap for succession, no clear idea of what happens when you’re ready to move on. That’s a problem, because the earlier you start planning, the more options you have and the better the outcome.

Why early planning matters

An exit strategy isn’t just for big corporations. It’s for anyone who wants to protect the value they’ve built and make sure their hard work pays off. Planning early gives you time to:

• Maximise value – If you want to sell, you’ll need strong financials, good documentation, and clear systems in place.

  
  

• Reduce stress – Leaving in a rush often means leaving money on the table.

  
  

• Control the narrative – You decide how and when you exit, not circumstances.

Think of it as future-proofing your business. The sooner you start, the smoother the transition will be.

Photo by Jan van der Wolf

What are your options?

There’s no one-size-fits-all approach. Your exit strategy depends on your goals, your business structure and your personal plans. Here are the most common options:

• Close the business

  Sometimes the simplest option is to wind things up. This can work if your business is small or heavily dependent on you. Just make sure you handle final obligations like tax, employee entitlements and outstanding contracts.

  
  

• Sell the business

  Selling can be a great way to unlock the value you’ve built. This might mean selling to a competitor, a private buyer or even your own team. A well-prepared business with clean financials and documented processes is far more attractive to buyers.

  
  

• Gifting or succession

  Passing the business on to a family member or trusted employee can keep your legacy alive. This option needs careful planning around ownership transfer, training and financial arrangements to avoid disputes later.

  
  

• Merge or partner

  Joining forces with another business can be a strategic way to exit while still keeping a stake in the future. This often suits businesses looking for growth or diversification.

  
  

Start now, not later

Exit planning isn’t something you do when you’re ready to retire, it’s something you build into your business from day one. Even if you’re years away from leaving, having a plan gives you flexibility and peace of mind.

Ask yourself:

• What do I want my business to look like when I leave?

• Who could take it over?

• What steps can I take now to make that possible?

Your exit strategy is your safety net. It’s the difference between walking away with confidence, and scrambling when life throws a curveball. If it's not already on your radar, the time to think about it is now.

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Ready to start planning your exit strategy, but not sure where to start? With experience in selling and closing businesses, Bek of All Trades is here to help. If you’re ready to get planning let’s chat.