Role of an Exit Strategist

  • An exit strategist helps business owners prepare their businesses for sale well before they go to market, whether that is in 1 year or up to 10 years from now. Preparation includes improving profitability and reducing owner dependency, which are attractive qualities to potential buyers. The strategist focuses on strengthening the business’s market position and addressing weaknesses to create the best possible business for sale in the future. 

Role of a Business Broker

  • A business broker specializes in selling businesses confidentially and effectively. They market the business to attract the right buyers, screen buyers for qualification, and help negotiate deals beyond just price, emphasizing finding the right buyer over the highest price. Confidentiality is maintained throughout the process to protect the business’s interests and relationships. Brokers also coordinate with the seller’s advisory team to guide them through the sale process smoothly. 

Importance of Early Engagement with Exit Strategists

  • Business owners who are not ready to sell immediately but plan to exit in 5 to 10 years should still start conversations with exit strategists early. This early engagement helps owners understand the process, learn critical questions to ask, and become comfortable with the emotional and practical aspects of selling. Exit strategists provide an external perspective to help owners see market realities beyond their daily operations and emotional attachments to the business. 

Risks of Premature Disclosure About Selling

  • Announcing plans to sell a business prematurely to employees or customers can cause fear and instability, potentially leading to loss of staff and customers before a sale. Maintaining confidentiality is crucial to ensure the business remains stable, attractive, and successful through the transition to new ownership. 

How to Connect with Exit Strategists and Brokers

  • Business owners interested in preparing for a sale or selling their business can contact exit strategists or brokers through websites like transworld.com or exitfactor.com, or by phone. Early contact facilitates education, relationship-building, and strategic planning for a successful exit.

Planning for Future Sales

Whether the goal is to exit in one year or five, early engagement allows for long-term planning and preparation. Jessica and her team at Transworld and Exit Factor support business owners every step of the way.

?? Learn more: Exit Factor

?? YouTube: @TBAGrandRapidsLansing / https://youtu.be/tR1pSWwHoGo

?? Instagram: @exitfactor_grandrapidslansing

?? Facebook: Exit Factor of Grand Rapids and Lansing

?? Also ask us about Transworld: www.tworld.com/locations/michigan/grand-rapids-and-lansing