So how are you planning to exit?
Interested in a succession plan that will deliver maximum value and minimum headaches?
Wednesday, August 20th 2003, 2:08PM
Strategy 1. Recruit one or more sales people into your organisation with the view to increasing revenues in the short-term and ensuring you have a successor to buy the business from you in the long-term.
Disadvantages
Strategy 2. Plan to sell your client base and exit the business.
Disadvantages
Strategy 3. Plan to retire and live off your renewal income.
Disadvantages
Club Life Strategy
Recruit someone into your business that is already fully trained and has a demonstrated success record to bring to your business. Someone who has chosen this industry as a long-term career and who brings the added bonus of a modest client base and renewal income stream with them.
Increase your passive income by steadily spreading your new business over products that generate higher levels of renewal income. Get off the tread-mill of chasing upfront commissions progressively. Plan to have increased your passive income significantly in time for your targeted retirement.
Sell your significantly enhanced client base to your successor or alternatively retire off your passive income, and pass the new business generation on to your successor.
Advantages
Want to know more? Talk to Club Life – We know it’s in our interests to help you to retire happy!
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