- Understanding your unique selling proposition, competitive advantage, and business value will help you gauge the level of interest your business may generate among potential buyers.
- A company with strong systems and processes is viewed as more scalable, as integration into a buyer's existing operations will be easier.
- The most effective strategy of a succession plan is time. The more time to prepare for exit, the greater the options available to ensure success.
Preparing Yourself and Your Business for Exit
No matter who the next owner of your business may be or when you plan to exit, transitioning is a major process that requires time and effort. It’s a series of choices, assessments, and reassessments that can influence how you run your business. How can you ensure you’re prepared to sell – even if you do not intend to sell right now?
We’ve developed a guide for business owners that provides actionable takeaways for how to start preparing for transition. In the guide, you’ll discover:
- How to define your sale goals and objectives
- Ways to structure your business now for a more appealing sale later
- Why time is the most essential component of every successful sale
- Market conditions that may impact your transition