The four exit routes or paths most referred to on this podcast are…

1) Sale to a third-party.
2) Sale to insiders.
3) Sale or
transfer to children or family.
4) Sale to an ESOP.

Today’s topic really has impact on each of these exit options because to have a sellable or transferable business which is foundational for success in any of the before mentioned exit routes it really helps if the owner has identified and equipped a successor to run the business without the owner so that the business is not too dependent on the owner…

Michael Beck is an executive strategist, author and president of Eliciting Excellence, a firm specializing in the assessment, development, and recruiting of successors. He and his team work with leaders who will be taking over the running of a company in order to improve interpersonal skills, strategic thinking, and judgment. Michael's credentials include an MBA in Finance from the
Wharton School of Business along with degrees in Engineering from the University of Pennsylvania. He has worked both domestically and internationally with a wide range of clients from diverse industries. Eliciting Excellence offers assessments and executive coaching, all
designed to help successors succeed and owners get paid.