If you have decided to get out of business and are not able to pass your business on, merge or sell it as a going concern, liquidating the assets could be the most appropriate exit strategy. However, before you terminate your lease, sell a key piece of equipment, or disconnect your utilities, make sure you have a well-thought-out plan.
Getting out of business successfully requires a well-thought-out plan from start to finish. If you have chosen asset liquidation as your exit strategy, increase your chances for success by incorporating these ten steps in your plan:
Understanding these steps will not only help you recover as much money as possible, they will also help you achieve the freedom you need to pursue new endeavors.