Exit Strategy Stages / by Kerri
An exit plan to sell your business is more than a transaction. When you understand that there are five stages to the exit process and that there is a systematic way to move through the whole process without getting overwhelmed or discouraged, you can relax and simply ‘work the process’. That’s what these five exit strategy stages are all about.
Exploration/Evaluation – This where all your exit planning happens to understand the scope of work to do, the opportunities and timeline involved to achieve your exit to reinvention.
Growth Process Implementation – To maximize value of the business and build a deep foundation to make the business buyer attractive, you need to put a growth strategy into motion. If you sell the business as is, the buyers can’t see the future value to them in what you do now.
Exit Integration – The exit transaction is the culmination of all your planning, preparing the business and your team for your exit, maximizing value and determining the kind of exit you want and the terms you want to exit, along with the terms, timeline, cashflow for your reinvention.
Track & Measure for Excellence & Value – Tracking and measuring are the only way you ever know if you are getting the results you want. Tracking and measuring also help you raise the bar and add value in the intellectual property you own and the goodwill value you’ve built up in the business. Tracking and measuring is an essential toolkit you must employee, refine and promote to buyers to demonstrate your team and business excellence and the value they are worth.