You probably did not start your business with an eye on an eventual exit. Few passionate entrepreneurs do that. And, it may be time to start doing some serious Strategic Thinking about ‘what’s next’.
Will your kids take over…sell to your management team…find an outside financial or strategic buyer? There are lots of options available and you want to start thinking about them well in advance of taking any action.
Most founding entrepreneurs struggle with the idea that it can take 3 years or more to get your business ‘ready-to-sell’. Then, they wake up one morning and simply decide it’s time to do something. That’s when it is too late to start preparing.
In this Fireside Chat with Greg Hogan, an expert on helping entrepreneurs plan exit strategies, Ben explores some of the options available to you.
When you’ve finished with the video, check out the CEOIQ Calculator for Business Valuation. It will give you a quick ‘back of the napkin’ look at just what your business may be worth and you’ll be better informed to have an exit conversation.