Company leaders who have spent their lives running a business probably have limited experience when it comes to selling one. That means preparation is a crucial part of any effective exit strategy.
This article poses the questions business owners should consider about their objectives, potential investor criteria, and priorities for the future and outlines steps they should take to ready their company in advance of a major liquidity event. Those steps include:
- Be able to tell the company’s story
- Prepare a personal succession plan—and one for your team
- Get your company’s financial house in order
- Collect key documents to ready for intensive due diligence