What Is Your Timeline To Exit? / by Kerri
Do you have a timeline to achieve your goal? You have a choice starting today.
- You can sell quick, or any time you want OR
- You can take the time to position your business to sell high
You can’t do both.
I strongly recommend you work actively on your exit strategy starting now if you intend to implement it in the next 36 months. You have 12-24 months of work to do before you engage a broker, attorney, or CPA if you want to position your business for optimum sale.
Think about how much work is involved in getting your house ready to sell, improvements, repairs, decluttering, staging and curb appeal. The same is true for your business to get the highest valuation and an ideal buyer.
You need a goal, an exit strategy, a valuation number you are striving for, and a timeline. To do all four, you must do two things:
- Implement systems for every aspect of your business, in detail
- Get the business out of your head and documented.