A frequent founder’s dilemma often is: what is the exit plan?
Many business owners tend to be reactive when it comes to an exit. Triggers such as unsolicited offers, personal circumstances, or financial pressures often prompt action. However, by the time these events occur, it is frequently too late to fully optimize the business’ value and maximize the sale price. As such, what to do?
To take an analogy, when a homeowner prepares to sell their house, there is a detailed process of preparation – repainting, cleaning, remodeling, and hiring experts – all aimed at enhancing the property’s value.
Since you can only sell your business once, having a well-thought-out exit plan is essential to maximize the return on your investment and hard work.
The purpose of this article is therefore to explore a list of considerations that are key for any prospective seller to work through with their legal counsel and financial advisor before selling their business.
