There is the old saying that the time to develop an exit strategy is the day you open for business. Sounds good, but it\u2019s not very realistic. Further, it also isn\u2019t very optimistic. On the day you open for business, thoughts about how you get out of it aren\u2019t pleasant, or helpful, thoughts. However, as you get the business to a place where you have a bit of extra time to plan, you will find that the things you need to do to improve your business are some of the very things you will need to work on to plan an exit strategy.<\/p>\n
You can\u2019t predict misfortune, but you can plan for it. One never knows when an accident or illness will force one to sell. When the drive to your business becomes filled with dread, maybe it\u2019s time to consider selling. The following ideas will improve your business, even if you\u2019re not currently considering selling. Dealing with these areas will also supply the information a buyer will most likely be looking at when the time does come to sell.<\/p>\n
Buyers want cash flow.<\/strong><\/p>\n This, at least on the surface, is the thing a potential buyer will want to look at.<\/p>\n Appearances are important.<\/strong><\/p>\n You may think everything about the business looks fine, but the two letters on the neon sign that don\u2019t work indicate to a possible buyer that the seller may have lost interest in the business, causing them to also wonder what else doesn\u2019t work or has been neglected.<\/p>\n There is probably more value than you think.<\/strong><\/p>\n Business owners often don\u2019t look at things that do create real value such as: customer lists, secret recipes, specialized computer systems, programs, customer loyalty programs, etc.<\/p>\n Eliminate the surprises.<\/strong><\/p>\n Make sure the lease is transferable and that your landlord is willing to cooperate.\u00a0 Resolve that issue with town hall.\u00a0 Resolve the problem with that angry customer. Minor problems and issues will often raise their ugly heads during sensitive times, spooking a possible buyer. So, the time to resolve them is before going to market.<\/p>\n","protected":false},"excerpt":{"rendered":" There is the old saying that the time to develop an exit strategy is the day you open for business. Sounds good, but it\u2019s not very realistic. Further, it also isn\u2019t very optimistic. On the day you open for business, thoughts about how you get out of it aren\u2019t pleasant, or helpful, thoughts. However, as […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-561382","post","type-post","status-publish","format-standard","hentry","category-seller-articles"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/posts\/561382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/comments?post=561382"}],"version-history":[{"count":0,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/posts\/561382\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/media?parent=561382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/categories?post=561382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/tags?post=561382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}