That’s a silly question, you say, “Of course I do. I have spent a lifetime building it.”
Yes, you have spent a lifetime building it, but have you worked on your business and added value to it? Do you have an Exit Plan? Do you have any idea what your business is even worth? Even if you plan on transferring your business to a family member, you want to ensure you are giving them something of value. Is your business valuable to a potential buyer? Whether you are planning on leaving many years from now or very soon, it’s not too early, or too late, to begin to build a valuable business.
Seventy percent of all business owners in today’s market plan to sell or transfer their companies within the next ten years, but 76% have no Exit Plan, and many others don’t know the value of their business. Are you one of them?
The value of a well thought out, written Exit Plan will:
-Protect the value you already have in your business;
-Help build future value in your business;
-Help provide the financial security needed by you and your family members;
-Determine a course of action should there be any unforeseen events – illness, accidents, death; and
-Help to prepare you and your business for the future.
I have included a highly effective tool on my website that you can use as a gauge to help you determine if your business is ready to sell and what items should be addressed to help you add value to it, so you can get the highest possible value from a transfer. The online tool is quick and easy to use, and it generates a personal report that highlights:
-What you should consider when thinking of a business transition;
-How salable your business actually is today;
-How likely it is for you to get a premium offer; and
-What your financial options are.
After you complete the questions online, you will receive a score for your business and an explanation of what the score means. Meanwhile, I will be notified that you completed the questionnaire and I will receive a copy of the comprehensive report for your business. Once I receive the report, I will contact you so we can discuss the recommendations together, and discuss any next steps required. I’m here to help, so start preparing to successfully sell your business by taking the assessment today.