What is it?
Exit planning refers to the process and strategies a business owner undertakes to transition out of their role. It serves as a roadmap for how the owner can step away from the business while ensuring continuity and operational efficiency after their departure. Planning a successful exit helps protect the business’s value and supports a smooth transition.
Exit Planning and Succession Planning
Exit planning often incorporates succession planning, which focuses on identifying and preparing future leaders within the organization. The two processes are closely connected, while succession planning ensures leadership continuity, business exit planning addresses the broader transition of ownership or involvement. Without effective succession planning, an exit strategy may lack the stability and foresight needed for long-term success.
Together, both play a vital role in future-proofing a business, ensuring both leadership and ownership transitions are managed strategically and with minimal disruption.
