John Dini is the President of MPN Inc., and will discuss how business owners can beat the Baby Boomer Bust. 

Guest: Kevin O'Driscoll

A 1 minute excerpt from a recent interview with Rhett Power. Hear the full interview by entering 'Rhett Power' into our search index at www.ExitCoachRadio.com. We upload new content daily so check back often!

In this 1 minute highlight, Leo Klijn, Exit Strategy Planning, Henberger, discusses the need to start planning for your Exit early no matter how you think your business will transition.

Transcript

Bill: In all the interviews we’ve done with professional advisors, we keep hearing it’s too plan early for your exit, but what about when you’re expecting for a private equity firm to come in and buy out part of your company? 

We asked exit planning expert Leo Klijn for his advice on when to plan.

Leo: First question venture capitalist firms or private equity firms will ask you is, what’s the exit strategy? So, I would argue that every business should have a business plan, and the most important chapter in a business plan is the exit plan, so it’s never too early to have an exit plan. If you haven’t done one, at a minimum, I would argue 3-5 years before you get out. Because the single biggest value driver is the strength of your management team, and what I find in our space is that most of the time the owners play a good role in running the business, if that’s the case replacing that often takes time.”