By Matt Silasiri – Marketing and Business Development Manager

Most business owners agree exit planning is vital to a successful transition of business ownership, but few have a formal exit strategy in place.

Below are the 3 phases of exit planning, and the major questions each stage answers.

Discover

• What is the current value of your business?
• Based on the valuation, what are your current options in the market?

Prepare

• Does the current value align with your personal and financial goals?
• What areas of my business can be improved to increase value?

Decide

• Would selling achieve my personal and financial goals?
• Do I have enough gas in the tank to improve value?

With 2024 right around the corner, now is a great time for owners to consider starting the discovery phase which we’re always ready to assist with.

If you’d like to learn more about exit strategy, we created a video series for you called 24 Rules to a Successful Business Exit.

You can check them out here.

These short videos are the ultimate quick-start guide to the exit process.

Questions about the exit process, or valuation?

Call us today (612) 235-3511.

About Sunbelt Business Advisors of Minnesota

The Sunbelt Business Advisors Minneapolis office is the largest office in the Sunbelt network with a staff of over 50 advisors, associates, analysts, and business development representatives. In 2021 the firm was recognized by the International Business Brokers Association as the #1 firm in the country and the first firm in history to sweep all three first-in class awards. Sunbelt provides services to business owners interested in selling their businesses, assistance with merger and acquisition activities, complimentary business value assessments, and advice to business owners seeking to maximize their life’s work when they exit. The firm provides business brokerage and mergers & acquisitions services for companies with revenues from $500,000 to $150 million. More information is available at www.sunbeltmidwest.com (<Under $5 million revenue) and www.tnma.com ($5 – $150 million in revenue).