EXIT STRATEGIES
A. WHY SELL
- Retirement
- Cash-out
- Resources
- Expand
- Stay Competitive
- Next Level
- Transfer Risk
- Timing
- Growth Cycle
- Economy
- Personal
B. PRE-SALE PREPARATIONS
- Financials
- Ownership/Structure
- Third Party Agreements
- Lock-up Key Talent
- Phantom Stock
- Equity
- Incentivize to Stay
- Records
C. EXTERNAL SALE
- Valuation
- "Script"
- Cash
- Public Shares
- Private Shares
- Tax Considerations
- Earn-outs
- Goals
- Control
- Merger/Minority Sale
- Finding a Buyer
- Logistics
D. INTERNAL SALE
- Actual Buy-out
- Sweat Equity
- ESOP
- Consulting Arrangements
- Employment Arrangements