Whether your company is small or large, selling it to a third party is the biggest challenge—and opportunity— of your business life.
Let’s dismantle the most common objections business owners have to undertaking the Exit Planning needed to leave their companies successfully.
At some level, all owners understand that they will someday leave the businesses they have created. Buyers pay for business value, not for the departing owner.
For many owners, the answer to one question determines whether they can leave their companies: “How much money will I get when I sell?”
Designing a comprehensive, successful Exit Plan can be the difference between liquidating your company and selling/transferring it for millions of dollars.
It can be difficult or frustrating to know that building business value is a frequent topic of discussion, but actually building value is sometimes easier said than done.
Buyers don’t spend money on things they don’t need. So why estimate your company’s value if you don’t expect to leave for several or many years?
When it comes to Exit Planning, unless you set and prioritize your objectives, you may have too many, too few, or they might conflict—but in any case, you won’t make much headway.
You’ve got enough happening in your business, so why exit planning? Planning today can help you react appropriately to market shifts over time, making your company more valuable to a buyer.
Good Exit Planning can be the difference between a successful transition and a complete departure from owner’s goals. Are you investing appropriately?