Startup BizCast #2 – Planning Your Business Exit (Jay Cowan)
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In episode 2 of Startup BizCast, a podcast with small business advice from small business owners, we’re talking about the time we all look forward to. It’s the time when we can travel, or play a lot of golf, or … well … do whatever we want. I’m talking of course about retirement. As small business owners, we need to plan extremely carefully for the time when we exit the workforce. Many of us are hoping that we can pass our business down to the next generation, or that the sale of our business will fund our retirement. Making these plans is called an exit strategy.
In this episode I interview Jay Cowan, co-founder of RiverCross Partners, a Richmond, Virginia-based firm that works with owners of small and medium-sized businesses to develop exit strategies. Jay talks about how to devise your exit strategy, explains how to plan with different types of businesses, and gives an outstanding example of what happens when you fail to plan.
If you’re in the Central Virginia area, check out RiverCross Partners’ exit strategies workshops.
Weâ€™d love to hear your feedback on this episode and future ones. The best way is to leave a voicemail by calling (206) 984-0860. Of course, you can also leave a comment on this blog.
Be sure to catch the next episode of Startup BizCast. We’ll be talking to Joe Slay, President of SLAY Public Relations. Joe is a veteran of the communications business and an inductee in the Virginia Communications Hall of Fame.