A new client to our firm will first go through the essential first step in our process of clarifying their financial and values-based goals. As the owner’s goals are clearly established, it also becomes more apparent as to which exit route will best achieve their goals.
We recently had a client successfully sell their business to a key employee and one of their children, and another client sold to a third-party strategic buyer. A primary reason they were both able to leave successfully was that their businesses were sellable. The businesses had value apart from the owner, they were profitable with strong prospects for growth, and had other drivers of business value that were attractive and strong.
If you want to be in control with a number of options for your eventual exit, then right at the heart of your exit plan will be an emphasis on building the business the right way today. We very much enjoyed a conversation with John Warrillow, the Founder of The Value Builder System™ recently on the ExitReadiness® PODCAST discussing the importance of “building to sell”. You will be well served if you invest 50 minutes to listen in and learn from John’s personal experience as a successful entrepreneur and his analysis of over 40,000 businesses.
