Ep #23 Common Personal Readiness Issues When Considering an Exit
How do you know if you are ready to transition out of your business? Planning for life after the sale and determining what you would do outside of the business is an essential part to having a successful transition. It can help you protect the value of your business by identifying what drivers are motivating you to sell and what future life vision will get you through the hardest parts of the exit planning process. Planning well in advance for what your next chapter will look like ensures you will exit your business without any regrets. In this episode, Tom will be sharing the most common personal readiness issues all owners should plan ahead for before they embark on transitioning out of their business.
Listen in as Tom explains what the most common personal readiness issues are, how preparing for these well in advance can protect the value of your business and ensure a successful transition. You will learn what the three forms of exit readiness are, the importance of keeping the end in mind very early on in the process and how to get through the hardest parts of the sales process.
LISTEN TO THE FULL EPISODE:
WHAT YOU’LL LEARN:
- The three exit readiness factors.
- Why thousands of businesses do not sell.
- Why personal readiness is vital for a successful transition.
- The importance of planning with the end in mind early on in the process.
- The benefit of writing down your future life vision.
- How you can start planning ahead on your own.
IDEAS WORTH SHARING:
- “Being exit ready is a state of fact, not a state of mind.” - Tom Poltersdorf
- “47% of owners say they'd like to retire, without any specific plans of what that means.” - Tom Poltersdorf
- “Know what your motivation to sell is. It affects the value of your businesss.” - Tom Poltersdorf
- Keeping the End in Mind Worksheet
- Tom Poltersdorf: LinkedIn
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