Building a business that is transferable or sellable really begins when an owner launches a business with their eventual goals for exit — do they indeed want to get value out of the business at some point in the future with a sale or do they have a vision for eventually transferring the business to children or key employees.
If they simply want a lifestyle business while building their desired financial wealth outside of the business, then building for an eventual sale or transfer isn’t necessary.
However, we find that most owners want to, and often need to, get some value out of the business eventually and frequently consider the business to be central to their retirement plan.
Also, an owner who builds a transferable business has many more options for their eventual exit than they would with a lifestyle business.
In this video, learn how to identify blind spots pertaining to growth and value acceleration so you can set up your business, and yourself, for an ideal outcome.
If you want to speak with Joe about preparing your business for an exit, please book a Discovery Call.