Perhaps you’re just beginning to think about selling your business. If that’s the case, you’ve most likely heard rumblings about needing an exit plan coach to guide you through the process. An exit plan coach helps you get the most out of selling your business and holds your hand through the entire process of getting your business ready to sell and then actually closing the deal.
So why should you work with an exit plan coach?
Your business is more likely to sell.
Less than 13% of all small businesses are successfully transacted to a new owner. Working with an experienced exit plan coach ensures you have a knowledgeable partner guiding you through the common pitfalls of selling your business. An exit plan coach helps prepare your business for sale, helps negotiate the transaction, and overall guides you through the complex process of selling a business.
You will get the most value for your business.
For example, a business that isn't "packaged" to sell or one that cannot easily be transferred to another owner (based on industry standards) will sell for a lower "multiple of earnings". Let's say you earn $100k annually from your small business, that is what it pays you for the work you do as the owner. Let's say an easily transferable business can be sold at a multiple of 2.5; then 2.5 x 100k = $250k might be the most probable selling price of your small business.
If your business is not easily transferable, it could sell at a 1x multiple or even lower... So, in this example, working with an Exit Planning Coach has the potential to increase your payout by $150k or more! The investment in Exit Plan Coaching is pennies compared to the increase in business value!
Exit plan coaches know how to sell businesses like yours, do you?
As a small business owner, you wear many hats. You also know that you never truly take time off from running your business. Suffice it to say your time is valuable so chances are you don’t have the time it takes to run a successful 40+ hour/ week sales campaign to properly market and sell your business in addition to the day to day running of your small business.
Leave the selling of your business up to an exit plan coach. Katie Milton Jordan has achieved the prestigious designation of being a CBI (Certified Business Intermediary), which identifies experienced and dedicated business brokers who have proven professional excellence. Essentially, this designation guarantees you’re in good hands when selling your business.
Many business owners looking to sell their company assume selling a business is like selling real estate; it’s not. For example, did you know a downturn in revenue during the sale of your business is the kiss of death? Seriously.
Selling a business is best left to professionals as there are many nuanced intricacies involved when ensuring your business sells and that it sells at the most money possible. Please, please, please: don’t DIY when it comes to selling your business.