Winning the exit is not just about getting the most money for your company.
Winning is about preparing for and getting the transaction that best suits you, your customers, employees, and family. Reality may be different than you imagined. That means you need to find the right buyer type.
You need to interview and hire the right people at the right time and make the right connections along the way.
You need to plan out all your various transitions, both before and after the exit.
There are many products that can teach you about the deal and how to get the most money – but we are going to teach you how to win more than just the financial transaction, there is much more to this process than a check and that is what my course is about.
When you exit the business you will need a buyer – Who will buy it?
When you decided to start a business you have taken on the awesome responsibility to provide products or services to customers, hire employees, work with vendors and provide financial means to your family. At some point, you will exit this business. It may be feet first, a timed choice, life event, health or a variety of other reasons, but it will happen. Like most business owners you probably think, somebody will buy it. After all, you have probably sold houses, cars or products on eBay and somebody always buys them.
Businesses do not fall into these categories – Most of the time your business was built for you, around your strengths and this domain is yours. You have excelled at what you’re good at and put off or ignored what you’re not good at. By doing this you have created a business that only you can run because there is only one you. Thus you have created something unbuyable and undesirable for most buyers.
If you stay on this path when it comes time to exit the numbers will tell you the sad story.
The Numbers tell the story . . .
In the United States, there are 20 Million Businesses, that range from Solo Operator to Large Enterprise. WhatIn the United States there are 20 Million Businesses, that range from Solo Operator to Large Enterprise. Businesses that are less than $10 Million in annual sales and have valuations under $3 Million odds of exiting are about 1 in 5.
Forbes Article 2017 – “According to the IBBA, (International Business Brokers Association) the governing body of the business brokerage industry, feels the percentage of listings that won’t sell is more like 90%.”
Tony Robbins claims 87% of business owners do not see an exit.
These articles are one google away you can find them in the New York Times, Inc, Forbes, and Entrepreneur Magazine.
This is a devastating situation for most business owners. They have 50 – 90% of their personal wealth tied up in the business and 4 out of 5 never get to realize an exit.
Most business owners are unaware of these numbers and when it comes time to exit they are unprepared for a variety of reasons and they are getting poor advice from people who are motivated by the transaction.
Thus the perfect storm happens and the owner never gets to Win their exit. Often times it can actually cost money to close a business.