Show Notes
Cliff Spolander, CEO and founder of Business by Design talks with Christina about the importance of having an exit plan in place right from the very beginning He explains the importance of working on financial, personal and business plans to make sure that you can successfully operate your business with effective strategies in place that mean you are prepared for the future and can exit well, whenever this happens KEY TAKEAWAYS It’s a flexible framework that people can use to understand where they are from a business personal and financial perspective A successful exit is when the personal and financial plans of the business owner are met Exit planning is a good business strategy and by removing the emotion you can view the company realistically Its understanding the objective of the seller looking at it through the eyes of the buyer If you are going to sell what are you going to do next Most people start with a vision but can find the business all-consuming resulting in the business becoming their identity For the majority of people, their business becomes their baby but around 50% will end up being forced out People exit for a variety of reasons but the key is to be prepared and have a plan in place BEST MOMENTS ‘I’m getting a double buzz of building something helping people in the business world and it's kicking off cash that I can give away’ ‘Over time the owner's identity can become completely wrapped up in the business’ ‘Exit planning is like insurance you hope you’ll never have to use it in a bad way but should life throw you a curveball you are prepared for it’ RESOURCES FOR THIS EPISODE https://www.businessbydesign.co.uk/ https://www.thesmarterexit.com/ VALUABLE RESOURCES Christina Talks Podcast https://www.green-umbrella.biz/how-to-launch-anything-using-social-media/ ABOUT THE HOST Christina has been working with SMEs since 2013 to launch, develop and perfect their online presence. In 2019 Christina made the move from employee to business owner of a successful digital marketing agency focused on educating business owners in the use of social media. Christina is driven by the fact that in today’s world, it doesn’t matter how big or small your marketing budget is, you can be a major player. For small businesses, the tools are just as accessible – you just need to know how to use them! LinkedIn Twitter Website
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