- Danielle Mulvey
- August 01, 2023
Danielle presents a significant subject today, which holds importance regardless of the duration of your business. How can you increase the value of your business, ensuring a premium price/offer upon its sale? Business owners typically exit their business for one of three reasons. Begin strategizing for your exit today so your motivations align with your intended plans. In this episode, Danielle will outline four strategies that will amplify your business's profitability.
IN THIS EPISODE:
[00:00] Danielle will talk about exiting your business, and the first question to answer regarding leaving your business
[06:23] How do you value your business
[09:35] The three motivators to selling a business; personal motivation; personal crisis, or the owner believes the business has peaked
[14:32] Make a plan now for personal motivation and determine what you want to sell your business for
[19:20] Determine what you will do with your time; if you will stay involved in the business; how you will reward your employees, and the impact of shareholders on the value of the business
[26:10] A review of the four areas that can lead to a 30% in the value of the business
It’s never too soon to begin an exit plan for your business to maximize the sale price.
The reason for selling the business does have an impact on the value of your business.
Personal crisis is the least favorable motivator to selling a business leaving you with the least profit.