261 Madison Avenue
27th Floor
New York, NY 10016

LinkedIn

National Financial Network, Inc.

(212) 764-6262 x2811

 
Retirement

3 Tips to Plan Your Exit Strategy

  1. Seek honesty over flattery

 It’s one thing to have your buddies compliment your “unorthodox” golf swing. But you don’t want a business broker painting an overly rosy picture about the value of your company. Be honest with yourself, and expect nothing less from those you work with. That includes what you’re looking for in a potential buyer. (Hint: It’s not always the highest bidder.)

  

  1. Don’t lose sight of the business today

 There’s a lot to preparing for the sale of business – don’t worry, we can help you with all of that! However, it’s important to keep building your business, especially while you’re considering selling it. Schedule time around your workday to work on your exit. Sit down with your leadership team, other key employees, even important clients. You didn’t build your business overnight; you probably won’t sell it overnight either.

  

  1. Get key team members to buy in, too.

 Business suitors aren’t just buying a customer list, a few machines, and some real estate. They’re buying your company’s talent as much as any physical asset. So, bring key employees into the conversation as early as possible, and convince them that they will be in as good of a position, if not better, going forward. After all, you don’t just want them to accept a new owner, you want them to be excited about it!

  

Pub11557  2022-137245 Exp. 4/24

Share |
 

Related Content

The Facts About Income Tax

The Facts About Income Tax

Millions faithfully file their 1040 forms each April. But some things about federal income taxes may surprise you.

A Penny Saved is Two Pennies Earned

A Penny Saved is Two Pennies Earned

Here are some simple and inexpensive energy-saving tips that may help you save money.

Consider These 3 Things Before Driving Off the Lot

Consider These 3 Things Before Driving Off the Lot

There are a few things to consider when buying or leasing your next vehicle.