Business owners often think of their business as income generators, but have you thought of your business as a financial asset that can be sold when it’s time to exit the business? Positioning your business to sell when you are ready to exit is not only a smart financial move, but it just makes good business sense.
Chris Vanderzyden, CPA and founding partner of Legacy Partners LLP, authored and recently released Master Your Exit Plan: Sell Your Business, Preserve Your Legacy, to guide you through selling your business. Vanderzyden leaves you with essential criteria on what makes a business valuable:
1. Strong future projected cash flow
2. Human capital
3. Customers
4. Strong supply chain
5. Strong financial management and a strategic plan for growth
6. Strong marketing plan
The bottom line is that planning your exit strategy in your business will offer another layer of income that your company provides to you. When you think of your business as a financial asset that you are building to grow and appreciate over time, you can reap more financial rewards through the option of selling.
Reach out if you are interested in selling your business.
Steve Niehaus, MBA, CBI, CM&AP
[email protected]
239.565.3171
