Protect Your Moneymaker: I help consultants and coaches turn their expertise into new scalable revenue streams by creating, protecting and licensing intellectual property | Lawyer | Speaker | Podcaster
“Is it too early to start planning for an exit?” Nope, if you have a stable revenue stream, it’s not too early. Here’s the thing--and you know I love a bit of irony--the worst time to organize for an exit is when you want to exit. The exit process involves preparing a massive amount of information. The resulting distraction inevitably leads to a decline in revenue and profit at the exact time everyone is scrutinizing your numbers. Potential buyers doubt the dependability of your projections. The main areas of your business that will be subject to due diligence: OPERATIONS Looks at all of the components of your company’s operations -- from technology to insurance coverage and beyond. BUSINESS AND PROCESS Analysis of your business processes and related factors, including markets, customers and the competition. FINANCIALS A review of tax statements, financial reports and financial policies. HUMAN RESOURCES Understanding the organizational structure of your company and reviewing the benefits, compensation, and culture. LEGAL Last, but certainly not least 😊, legal analysis of all contracts, corporate documents, current or pending litigation, intellectual property and compliance. Easy peasy, right? 😂 A plan is your friend. #b2b #acquisitions #exitplanning #assets
Is there a number of years in advance we should be thinking about this? Not planning to retire for a while!
So helpful to see this laid out this way!
I can’t imagine doing this without a plan
If you start with the end in mind, you'll be in much better shape when it comes time to sell, and not digging deep in the literal and mental archives to try to find 401K audit data from an acquisition you made 5 years ago. Not that I've ever had to deal with that...
Because most of my people are selling...we ALWAYS talk about exit plans at the start
I suspect people delay because they just don't want to think about EVER exiting from their darling baby ... i.e., their business ... but they forget to think about the reality that eventually - ahem! - they will be exiting one way or another!
I partner with leaders & orgs to turn burnout into a wake-up call for growth. | Keynote Speaker🎤 | Facilitator | Women’s Leadership & Well-Being Coach | Fractional Leadership Dev Partner | Mom👧🏼🐶
3yI'm not anywhere near ready to exit; yet, this is so helpful! Great information- thank you for sharing!