ABSTRACT
This chapter presents a model of exit planning that ties back to the self-assessment. Some entrepreneurs do not have the opportunity to take an exit strategy that provides for the realization of wealth from their businesses. The process of exit planning includes doing ongoing self-assessment, determining the desired time frame of the exit, managing the financial statements, hiring an external auditor, and developing a business plan for the sale. Some entrepreneurs exit their businesses through a planned liquidation without the need of bankruptcy protection. Several exit strategies do not involve a complete or at least an immediate transfer of ownership. Another form of ownership transfer is with a stock sale. The chapter explains the Entrepreneurs can pursue a variety of exit options based on the situation and their personal and professional goals. These options include a complete or partial transfer of ownership or the possibility of simply ceasing operations.
