The debate: What makes a successful exit strategy? - Business Reporter

"A panel of experts discusses what makes the best possible exit strategy.

Nigel Stone
Partner, Boodle Hatfield LLP

The key to a successful exit is to plan early. Many of the dos and don’ts are common sense – here are some:

At the start, when establishing the business, ensure that the business plan envisages the sale and bring the constitution (articles of association and shareholders’ agreement) into line with it. Drag-along and tag-along rights are key to prevent minorities controlling the process.
Consider bringing the wider staff membership on side with incentives linked to a successful outcome, especially if part of the price is tied up in an earn-out.
Ensure all financial information is robust and transparently presented.
Resolve difficulties before the sale process begins: avoid selling when there is litigation, a supply dispute, a loss-making part of the business or the wrong leader of a division.
Choose the right advisers, even if it means sidelining an existing one for the sale process. "

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The debate: What makes a successful exit strategy? - Business Reporter:

For additional information regarding Florida business sales, acquisitions and valuations, please contact Eric J. Gall at info@buysellflbiz.com or 239.738.6227. Also, visit our Florida Business Exchange website at www.fbxbrokers.com and my personal website at www.buysellflbiz.com.