#72 - Exit Planning for Business Owners: Preparing Financially, Personally, and for Legacy
READ THE TRANSCRIPT
Not even thinking about it or preparing ahead of time is the biggest mistake. Illness or accidents can happen unexpectedly, and without preparation, families can lose both income and the value of the business an owner spent a lifetime building. - Renita Wolf
Exiting a business is more than just a financial transaction. It’s a life transition that can affect family, legacy, and the future you envision.
In this episode, I sit down with Renita Wolf, MBA, founder and CEO of Poe Wolf Partners, to discuss how business owners can thoughtfully plan for a smooth and meaningful exit. We explore the importance of preparation, both financial and emotional, and what truly defines a successful transition.
EPISODE SUMMARY
- Why over 80% of businesses never sell, and how to avoid being in that group
- How emotions and identity play a big role in preparing for life after selling a business
- The importance of early planning and cleaning up financials before going to market
- How family members can influence and support exit readiness
- Why a successful exit is about freedom, legacy, and choices, not just the sale price
- And more!
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ABOUT POE WOLF PARTNERS
Poe Wolf Partners is a boutique advisory firm that helps middle-market business owners, particularly those with companies generating between $10 million and $100 million in revenue, prepare for and navigate business exits. We specialize in aligning financial outcomes with personal and legacy goals, so owners can exit confidently and on their own terms.
ABOUT RENITA WOLF
Renita Wolf is the founder and principal advisor at Poe Wolf Partners, a boutique exit planning firm serving middle-market business owners. With a background in corporate finance and M&A at Fortune 50 companies like Wells Fargo, HP, and Cray Research, Renita brings over 20 years of strategic and financial expertise to business transitions.
At Poe Wolf Partners, she guides owners through complex exit planning, helping them define a clear vision, build a tailored strategy, and assemble the right advisory team. Renita’s approach is holistic and client-focused, addressing not just the financial side of an exit, but the personal, emotional, and legacy-driven aspects as well.
She is especially passionate about supporting women business owners and those navigating life transitions, such as widowhood or divorce, to ensure they exit their businesses with confidence and clarity.