In an ideal world, business owners begin the exit planning process 3 to 5 years from their desired sale date and work with key advisors (wealth advisors, CPAs, legal counsel, etc.)  to build out a plan that aligns to the owner’s goals. This ranges from hitting a target sales price to fund retirement to finding buyers who will take care of the current company staff. Understanding the exit process will help allocate resources to the most pressing issues that influence the valuation and best support a successful transaction.  

In subsequent blog posts, we will jump into the top three consideration areas – cashflow, business risk, and growth potential, but first its critical to comprehend the key steps in planning for to sell a small/mid-size business. To download the PDF of the timeline, go here