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In this episode, we explore why establishing an exit strategy is not just wise but necessary for the wellbeing of both the business and the business owner. Despite the excitement of daily operations and growth, many small to mid-sized business owners overlook the necessity of exit planning. Without a solid plan, the impact of an exit can ripple out and affect everything you've built.
We dive into ten critical areas impacted by exiting your business, from personal financial security to company culture and family dynamics. We discuss the importance of planning your exit strategy at least five years in advance to ensure a smooth and successful transition.
