Planning an exit strategy is the most commonly overlooked consideration of an LSP’s business strategy. Failing to plan your exit strategy will make you work for 40 years and become a “penny stacker.” Your exit strategy plays a key role in determining the future direction of your language business. Failing to plan your exit strategy as part of your business goals may limit your options as a business owner as well as the ones of your heirs and successors.
Part 2: Choosing your exit strategy:
• Mergers and Acquisitions
• Passage of control to heirs