Business owners will eventually reach a point when they have to leave their company because of age, health concerns or a desire to pursue other life goals. This could mean retirement, a sale or simply winding up and closing down the company. Collectively, these are known as exit strategies, and every entrepreneur should have one. Yet many exit their companies without a clear plan. This may be largely due to the fact that entrepreneurs are more focused on starting and building their businesses than on leaving them.

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