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Step 6 - Exit strategy for the current owner

It is now time for a progressive takeover of the business. This step is usually carried out in phases.

Objectives and actions

If the owner-manager is financially independent, he or she will very likely develop a second life plan. He or she will have to decide between a progressive or quick exit strategy.

The usual exit strategy phases are:

  • being open to the new owner's ideas
  • sharing responsibilities and being available for consultation
  • sharing decision-making authority
  • taking on a new role in the business: becoming a consultant, sharing experiences, giving advice
  • completing the exit strategy

To learn more, see the following sections of the guide:

The next step
See Useful links.