Financial planning gets all the attention in a business sale — but the identity, community and sense of purpose you lose the day you sign are what most founders never prepare for, and what defines whether the exit was actually worth it.
Below the $8 million mark, no banker is in the room telling you what your business is actually worth — but the levers that decide it are knowable, and most of them can be pulled years before a buyer ever calls.
Whether you are a serial entrepreneur or have spent a lifetime growing a business, there comes a time when you question your next step. For many, that is retirement.
The more time you have to plan your exit, the more successful it will be. But how can business owners prepare themselves for this tremendous life change? These are the big-picture questions that business owners must reflect on to achieve their goals and prepare for the next phase of life.
Selling to a private equity firm while remaining involved during the growth phase could be the strategy you need — if you're willing to lose everything to try to hit that mark.