We’ve been through too many deals where business owners didn’t have any choice but to sell their companies for less than what they expected. Why? Because they didn’t plan ahead, and life events forced them to get out before they planned to. If there would be one thing to take away from this email, it’s this: Start. Planning. Now.
Here’s why it’s so important:
Maximize Value
Starting early gives you time to improve your business, streamline operations, and boost profitability. This positions you to get the best value when it’s time to sell or transfer ownership. Getting a valuation done on the business can highlight what areas need work and where you can maximize value.
Reduce Stress
An exit plan involves financial, legal, and operational decisions. If you wait until the last minute, things can get rushed and messy. Planning ahead will give you structure, organization, and peace of mind when you are ready to start the process.
Stay in Control
Planning your exit early lets you control the timing and terms. Without a plan, external factors could force decisions on your timeline. When you are prepared, you are better positioned to decide exactly what the next chapter of the business looks like.
Prepare Financially
An early exit plan lets you work with your accountant and advisors to handle taxes and finances in the best way possible, and to be ready for the new financial reality that a sale will bring.
How to Start Your Exit Plan:
- Met our team and start with a complimentary valuation.
- Streamline as many of your responsibilities so you can step back.
- Consult with professionals to guide the process and create a tailored plan for you.
