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What Exit Strategy Do You Have in Place For Your Online Business?

Profile photo of Sunday William Submitted by Sunday William April 5, 2016

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What is your exit plan for your online business? How do you plan to retire your business in the future? Or, do you have working strategy to sell your business in the future?

A lot of entrepreneurs are stuck on their business or website and can only sell if emergency creeps in on them. Emergency selling of a website is never admirable in most instances. This is because the owners are forced to sell short of their real value.

More so, all the years of hard work expended on building the website/business may seem to have gone down the drain!

The emergency situations that can force business owners to sell-off their desperately may include: significant life changes like loss of loved ones, divorce, and sickness. Others are general business decline, opportunistic sale, business/partnership dispute, lack of motivation, etc.

We don’t need to sell short if there is an exit strategy in place!

We can avoid selling short by setting up a sales plan as an exit strategy. To develop this exit strategy, we must, first of all, focus our attention building value around the business, and understanding what the buyers are looking for.

Here are things buyers look for when buying a business and you should have them in place make irresistible proposal.

Identify Growth prospects for buyers – You need to identify and test growth areas for your business. Buyers would like to know if they can grow the business after taking over. You should clear their doubts on this by identifying the key growth areas and testing it for them.

Set up Verifiable records – potential buyers will like to check out your business records for analysis and decision making on the buy. You need to be able to provide separated and transparent records on key areas like finance, clients, customers, assets, and liabilities. If you plan to sell your business one day then all your records must be crisp and clean.

Ensure there is Ease of transferability – Buyers of your business will want an easy transfer or transition. In this vein, you must work on ensuring that all barriers to smooth transferability are cleared. For instance, log-in details, vendor and customer relationship and any other man- related risks of buying the business should be removed.

Identify and mitigate risks activities in the business – In the course of running your business, you will identify certain risk areas for the business. You must have plans in place on how to mitigate such risks. The potential buyers will check to see the high risk areas. The perceived risks could be centered on transactions, assets, customer relationships, economy, government interventions, etc. It would be to your best interest to identify these risks beforehand and put plan of mitigation in place.

You need not sell yourself short because of emergencies. Ensure you have the above factors in place if you want to sell your business at reasonably high value.

So, how to you plan to retire your business? What exit strategies do you have in place?


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Profile photo of Sunday William
I started with a College Degree in Business but I have been an Internet marketer and writer for 10+ years and have written 5,000+ high quality articles in diverse topics. I have also written 20,000+ comments on Kingged.com and 1,000+ blogs and/or websites. I have been working closely with Kingsley, the admin of Kingged.com for 10+ years and have been in the Kingged.com's administrative team since the first day in 2012. I highly recommend Kingged.com's Coaching and Partnership Program.

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35 Responses to “ What Exit Strategy Do You Have in Place For Your Online Business?” Leave a reply ›

  • Profile photo of Maketta Profile

    Hello Sunday,

    Those are some good exit strategies when selling the business. To be honest I really don’t have one at this moment but it is something definitely to think about. Thanks for sharing this with us!
    Maketta recently posted…How To Save Money In Your Internet Marketing BusinessMy Profile

  • Profile photo of Jasper Oldersom Profile

    Hey Sunday,

    Those are definitely some great exit strategies.

    I do not have one at the moment as I do not plan on selling or quitting working on my business. As a matter of fact, I feel like working has a healthy function in my life and I wonder if that’ll ever go away even if that means working just 1 hour daily.

    If I would want to quit, I would focus on building passive income streams so that money would keep flowing in even if I’m not working at all.

    Thanks for sharing, Sunday.

    – Jasper
    Jasper Oldersom recently posted…Do You Leverage These Swiping Secrets To Make Your Web Copy More Effective?My Profile

    • Profile photo of Sunday William Profile

      Hi Jasper,
      Good and admirable thinking you have shared! Your perception still aligns with the idea of putting an exit strategy in place. You can still sell or quit to earn passive income depending on the nature of the business.

      Yes, working has tremendous health benefits but we still have to take cognizance of the fact that nature can put a strain on our ability to work maximally with old age.

      So, even if selling the business is not the acceptable strategy, a peaceful transfer of management to others would suffice. At the end, an exit did occur.

      Well, we must focus on how to put our business in order so that transition via selling, merger, or transfer would be easy and profitable when the time eventually comes!
      Sunday William recently posted…How Has Repurposed Content Helped In Converting Your Target Audience?My Profile

  • Profile photo of Adam D. Mason Profile

    Hello Sunday,

    I had to really think about this one. Right now I do not have an exit strategy in place. I have been so focused on building the business that it never occurred to me that it would end.

    In the future I have thought of creating a membership program that would give me a passive income. When the day comes that I decide to leave that program I would like to think that I would be open to passing the business on to the younger generation.

    But, I don’t know. You have put a bug in my head, so maybe some plans will solidify in the next few days.
    Adam D. Mason recently posted…What The Graham Norton Show Taught Me About MarketingMy Profile

    • Profile photo of Sunday William Profile

      Sure Adam, it would be wise to have a plan in place now. Having an exit strategy should be planned so that “unwanted exit” doesn’t creep up.

      From your plans of creating a membership program for generating passive income, I think it should be converted into an exit strategy already.

      A good rule of thumb would be to have a “vision” of where the business is going to be in the future so that present plans and strategies would be geared towards it!
      Sunday William recently posted…What Exit Strategy Do You Have in Place For Your Online Business?My Profile

  • Profile photo of Sarah John Profile

    Hi Sunday,
    From the above discussions it makes sense to state that having an exit strategy in place should be considered. Although I have non in place but this post has given me something to think about!

    My exit strategy may not be to sell but it would be worth considering growing the business for now so that it can outlive me! 😉

  • Profile photo of Chery Profile

    Hello Sunday!! Retire My Business?? OH NO NO! This is my legacy My Friend! I am hoping to someday pass all that I have to my sons or their wives or perhaps my grandsons.

    I could not even thing about abandoning what I have built up! Yikes just the thought of an exit strategy make me think of death..

    And I for one am not ready for that LOL

    Perhaps an exit strategy is for some, but not for this girl!
    Chery :))
    Chery recently posted…What Is Your Most Horrific Weakness And Why?My Profile

    • Profile photo of Sunday William Profile

      Hmm! Chery,
      You are right, the thought of an “exit” strategy could bring about thought of “death”.

      But what if your present business can be sold for a greater business venture? Perhaps it would be wise to sell now for a bigger business goal.

      I know everyone will not sell as an exit strategy, but some people are better building and selling now so they can achieve better business goal.

      Thanks for leaving your thought!

  • Profile photo of Celine Profile

    Hi Sunday,
    An exit strategy that involves selling off the business may not be a priority for many marketers.

    However, it would be good to put it into perspective because no one actually knows what the future may bring.

    The most important lesson I have learned from here is that whether there is a plan to sell or not, a business should be built in a way that it would become valuable for both buyers and sellers.

    This is a thought-provoking question, I must say!

  • Profile photo of Freedom Blogger Profile

    Hi Sunday,

    Good topic here!

    Here is my take on this ….

    There is no need for an “exit strategy” if you are making a lot of money online. And making a lot of money should be your ultimate goal with your online business.

    It sure seems like an exit strategy is only for those who are not making good money online and selling their business seems logical.

    You can also just want to sell your business because you just want to. In that case, the tips you have shared are on point man!

    I, personally, do not have an “exit strategy” – because there is no need for one and there is no plan to get one in the future either.

    Great topic anyways!

    Have an awesome week Sunday! 😀
    Freedom Blogger recently posted…Selling an App from Your Blog? Here are Technical Things You Need to KnowMy Profile

    • Profile photo of Sunday William Profile

      Hey Freddie,
      Yes, you are right, there is no need for an “exit strategy” if one is making a lot of money from their business.

      The term “exit strategy” could connote “defeat” or ” give up” for bloggers that don’t do well and hence sell their business to salvage it.

      I also agree with your point that even when a business is doing well, the owner may sell as an exit strategy and this purely based on choice.

      Its a good thing you understand the idea behind this piece and I appreciate your contribution!
      Sunday William recently posted…4 Reasons why Kingged.com is a Boon for BloggersMy Profile

    • Profile photo of Amit Sharan Profile

      Hello Freedom blogger,

      No need for exit strategy is good, but only if the business is not stressful, correct?

      If it’s stressful, I will sell, whether it’s making a lot of money or not. I don’t think we should work all the days of our lives. Most people won’t, if they have a lot of money, :)

  • Profile photo of Dani Schenker Profile

    This may sound crazy… But I want to own a hotel 😉
    And also this would never be a complete exit from online marketing. The internet would have “end” for me to leave it behind completely 😉

    But to answer your question. There is no real plan yet on how to achieve this. I would not know which part of my online business I would give up or to whom. But it is something I will start to think about in the near future.

    Right now there is no reason for me to stop my online business. But I know that the internet can be your best friend as well as a (sorry) bitch!

    Like so many I made good money with niche sites before the big Google updates and I lost about 80% of my income within days. I did recover and my business is much more agile now and diversified. But I would still like to have some kind of business offline. Something that can’t be destroyed by Google over night 😉

    • Profile photo of Sunday William Profile

      Hey Dani,
      For me , I don’t think having an ambition to own a hotel sounds crazy. Its your dream and you own it to yourself to dream and fulfill them! 😉

      An exit strategy doesn’t have to be an “end” to a business. It could well mean exploring better options or changing to another threshold. It should mean an absolute evolution to better things!

      The Internet has come to stay and I am sure its not going anywhere so soon. Nevertheless, there is need to think of an exit strategy or another phase of an online business.

      This will help the online marketer put plans in place to arrive at the destination!
      Sunday William recently posted…What Important Element Makes Your Landing Page Effective?My Profile

  • Profile photo of Judith Chang Profile

    Hello Sunday,

    I think the exit strategy to work towards is to eventually sell one’s online business and retire, hopefully young enough to enjoy it :)

    It reminds me of Retire Young Retire Rich by Robert Kiyosaki. He retired at 47 and his wife, Kim, retired at 37, both rich.

  • Profile photo of Abigail Chow Profile

    Hi Sunday,

    I haven’t really created an online business worth selling yet but the tips shared here will come handy when the time comes.

    You are right that we should focus our attention building value around our business, and understanding what our buyers are looking for, even before getting to the point of selling our online business.

    Unfortunately though, it looks like most people won’t get to the point of creating an online business worth selling. It’s tough making a real business successful.

    Don’t you think so?

  • Profile photo of Amit Sharan Profile

    Hello Sunday,

    From what I have seen with others, the most popular exit strategy is to eventually sell everything, retire and enjoy your money :)

    I hope to create an online business worth selling some day. It’s hard, of course, but it’s possible.

    And what’s good is that it’s never too late to start building an online business worth selling.

  • Profile photo of Anju Jerry Mathew Profile

    Hi Sunday,

    Exit strategy for me will be to sell my website, but I haven’t built a great website yet. I am working on that though, :)
    Anju Jerry Mathew recently posted…INSPIRATIONAL QUOTESMy Profile

  • Profile photo of Gavin McDonald Profile

    Hi Sunday,

    I think most of us want to sell our online businesses for big money, enough to be able to retire as soon as possible, and enjoy the rest of our lives without money worries.

    It’s wishful thinking for many people, but nothing stops anyone from wishing or dreaming, right?

    • Profile photo of Sunday William Profile

      Hey Gavin,

      Indeed, nothing stops of from wishing or dreaming. However, if we truly want to take delivery of the elements of the dream, it becomes necessary to put in actions that will generate success.
      Selling online business as an exit strategy must be planned and followed to achieve the success!

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