--- title: Shawn Speaks to Forbes about Optimizing Exit Strategies description: "Tips from the Forbes Finance Council can help business owners plan for two eventualities: their own retirement and the future of their business." image: https://www.spinnakerconsultinggroup.com/hubfs/shutterstock_322453511%20(1).jpg --- [![Spinnaker Consulting Logo](https://www.spinnakerconsultinggroup.com/hubfs/spinnaker-logo.svg "Spinnaker Consulting Logo")](https://spinnakerconsultinggroup.com) [tel:804.510.0768](tel:804.510.0768) Menu - [Culture](https://www.spinnakerconsultinggroup.com/culture) - [Work](https://www.spinnakerconsultinggroup.com/work) - [Differentiators](https://www.spinnakerconsultinggroup.com/differentiators) - [Insights](https://www.spinnakerconsultinggroup.com/insights) - [Experts](https://www.spinnakerconsultinggroup.com/experts) - [Contact Us](https://www.spinnakerconsultinggroup.com/contact) Customer Channels & Operations Management, Data & Analytics, Risk Management & Regulatory Compliance 1 minute read # Shawn Speaks to Forbes about Optimizing Exit Strategies Oct 21, 2020 Written by: [Shawn Sweeney](https://www.spinnakerconsultinggroup.com/expert/shawn-sweeney) - Share Post: - [mailto:?subject=Spinnaker%20Consulting:%20Shawn Speaks%20to%20Forbes about Optimizing%20Exit%20Strategies&body=Here%20are%20some%20insights%20from%20Spinnaker%20Consulting%20I%20think%20you%20should%20check%20out:%20https://www.spinnakerconsultinggroup.com/insights/blog/financial-exit-strategies](mailto:?subject=Spinnaker%20Consulting:%20Shawn Speaks%20to%20Forbes about Optimizing%20Exit%20Strategies&body=Here%20are%20some%20insights%20from%20Spinnaker%20Consulting%20I%20think%20you%20should%20check%20out:%20https://www.spinnakerconsultinggroup.com/insights/blog/financial-exit-strategies) - Business owners spend their days developing smart strategies, taking calculated risks and working hard to grow successful companies. When they decide to leave or retire, the last thing they want to see in the rear view mirror is their company starting to stumble. That’s why they should plan from launch day for two eventualities: their own personal retirement and the business’ future success.   In my latest discussion with the Forbes Finance Council, I offered timely insight on [establishing a credit line when business is good](https://www.forbes.com/sites/forbesfinancecouncil/2020/07/21/leave-your-business-financially-strong-when-you-retire-with-these-eight-tips/#206951c2657f) and why businesses need a strong strategy for when an owner retires.  The best time to prepare for a company’s long-term financial health is when your business is running strong. The more business is booming, the better the terms and conditions you’ll be eligible for when applying for a line of credit. A good rule of thumb is to have three months’ operating expenses in reserves. If business hits a bump in the road – including the unexpected, like a global pandemic – then that credit line can serve as a cushion, enabling the business to continue funding growth opportunities.  Looking for other smart tips from Forbes Finance Council experts? Check out our [forecasts for the banking industry here. ](https://www.forbes.com/sites/forbesfinancecouncil/2020/07/21/leave-your-business-financially-strong-when-you-retire-with-these-eight-tips/#206951c2657f) - Share This Post - [mailto:?subject=Spinnaker%20Consulting:%20Shawn Speaks%20to%20Forbes about Optimizing%20Exit%20Strategies&body=Here%20are%20some%20insights%20from%20Spinnaker%20Consulting%20I%20think%20you%20should%20check%20out:%20https://www.spinnakerconsultinggroup.com/insights/blog/financial-exit-strategies](mailto:?subject=Spinnaker%20Consulting:%20Shawn Speaks%20to%20Forbes about Optimizing%20Exit%20Strategies&body=Here%20are%20some%20insights%20from%20Spinnaker%20Consulting%20I%20think%20you%20should%20check%20out:%20https://www.spinnakerconsultinggroup.com/insights/blog/financial-exit-strategies) - ## Related Articles ### [Why Banks Should Scrap Their Digital Strategy Nov 4, 2020 The Big Picture The last thing banks need when they pursue a digital transformation is a digital strategy. Not many banks get this right. Organizations need one enterprise strategy for how to be the best in their business. If you set up different internal strategies, all you really have are a bunch of disparate go-to-market ideas. Spending time crafting a savvy digital strategy signals that you have a separate approach from the rest of your banking channels. That very narrow digital strategy puts you on a road to failure, because it forces competition and conflicts as teams vie for differentiated levels of support and resources to strengthen their now-competing channels. Instead of standing on its own, digital should shape and help drive your single banking strategy as yet another tool in your arsenal. You might think your current approach is setting you up for an omnichannel delivery, but you’ll end up with disjointed services that create friction for customers if digital is treated distinctly. Even if you want customers to handle the overwhelming percentage of their banking online, many will continue to walk into branches, particularly for complex transactions like mortgage applications, and end up calling you with questions. Granted, 2020 and safer-at-home guidance as the coronavirus arrived have pushed digital adoption forward more by necessity than desire. In July, nearly five months after the pandemic started, 91% of consumers conducted banking online, mostly to deposit checks or review their account balances. Even more striking: 40% of consumers reported using their bank’s mobile app more often. Some of the elasticity in consumer preference may be tightening. Still, a successful transformation is about integrating digital with your enterprise strategy to be more available and flexible as consumers speed up their digital adoption. With the onset of the pandemic, people are now using online banking daily. Not everyone is going back to your branches. 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Jan 13, 2022 Data and the insight that it can provide is one of the most valuable assets a bank has to make informed decisions and drive profitability. Data & Analytics, Data Visualization, Business Reporting Optimization 5 minute read](https://www.spinnakerconsultinggroup.com/insights/blog/report_automation) - Let's **Talk** - [804.510.0768](tel:804.510.0768) - [info@spinnakerconsultinggroup.com](mailto:info@spinnakerconsultinggroup.com) - [mailto:info@spinnakerconsultinggroup.com](mailto:info@spinnakerconsultinggroup.com) - #### Subscribe To Our Blog Like how we think? Subscribe to have our articles delivered direct to your inbox each month. **Headquarters:** [8000 Franklin Farms Drive, Suite 100, Richmond, VA 23229](https://www.google.com/maps?ll=37.60197,-77.545775&z=17&t=m&hl=en&gl=US&mapclient=embed&cid=10375661570052893047) ©2026 Spinnaker Consulting Group. 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