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Alexa Steinberg, Counsel in Greenberg Glusker's Corporate Group, authored "Strategies: Building the off-ramp to prepare for a successful exit" for Bizwomen. In the article, Alexa discusses the importance of preparing for a business exit well in advance and the steps business owners can take to position themselves for a successful transition.

Excerpts:

An exit is often described as the finish line. But for founders, a sale is rarely just a closing date or a headline purchase price. It is a negotiation over how much of that price becomes real economic value, how much liability she’ll continue to carry and what role she plays, if any, after closing.

For many founders, selling the company they built is a defining accomplishment, a financial milestone, and a deeply personal transition. But wanting a sale is not the same as being ready for one. Once a buyer is at the table, particularly a strategic or private equity group, a founder is often negotiating against a party that has run this playbook before.