By: Patrick Ungashick
One of the most common questions from business owners that I hear is, "If I don't want to exit anytime soon, why should I spend any time now planning for my exit?" The answer to this question is the most important strategic decision for your business value growth.
As I describe in the attached video, without an exit plan in place, you are a player left with only a defensive game, and no options for critical moves that will enhance your value proposition. This can lead to a subpar valuation when the time comes to actually exit.
If you're hesitant, you're not alone. Just last week I was working with a CEO business group in Chicago that wants me to speak to their members. The group's chairperson told me that some of the younger CEO's did not want to attend, because they felt the exit planning topic did not apply to them. Contrary to what these CEO's think, being prepared for this process is a business imperative.
Watch the video below. It is four minutes and one second long. (Marketing gurus tell me that it is too long for a video. But isn't your business worth it)?