As you build your business it is critical that you begin thinking about an "exit strategy". Many of us who are real estate educators and business owners began our careers with the aspirations of growing and building our business. We do a GREAT JOB of creating our dream, and then life smacks us in the face with the reality that someday we may want to retire or do something different.

Most of us never planned an exit strategy in which our business could continue after we have left that business or moved on to new adventures. Many of us are at a critical juncture in our careers and age where retirement is in the near future or already upon us.

The following are 10 steps that will help you create a viable exit strategy. If you want a detailed copy of this entire article that will include business planning and brokerage information, please complete the form at the bottom of this page. Karen will be happy to provide the unedited version of this article, FREE OF CHARGE to you.

1. Identify the departure date

2. Find a partner

3. Identify potential buyers

4. Create a database

5. Get your financial statements together

6. Determine your business' value

7. Develop a marketing plan

8. Work your marketing plan

9. Start taking time off

10. Get a (new) life

YOU NEED TO EXAMINE WHAT YOU TRULY WANT IN YOUR RETIREMENT YEARS. FOR MANY OF US, SITTING HOME OR PLAYING GOLD 24/7/365 IS NOT AN OPTION.

For a copy of the unedited version of this article OR to help you plan your business strategy, contact Karen and tell her what you need. The complete article can also be found in the Real Estate Educators Association Journal, Vol.20, No.2, pages 34-37, Karen Storey.