Here is a great template for helping you prepare for your future company sale
You work hard. You invest time and money in your business and you most certainly have some sort of dream or desire as to what you want it all to add up to someday. Then why are so many owners and CEO’s of small to mid-sized businesses ultimately dissatisfied with where their business takes them. The answer is simple. They worked over the years only wearing their lens in regards to how they viewed their company. They didn’t wear the lens of a potential acquirer to understand what they’ll be looking for. So when exit day arrives, they only then learn what they should have done to earn a premium valuation in the eyes of the acquirer. Too often we see owners with a plan for growing revenue and profit, but not company worth. These owners learn too late that revenues and profits are only a subset of the overall company worth in the acquirer’s eyes. And we then hear they wish they could turn back time to have better prepared their business to excite an acquirer.
We recommend to owners/CEOs that they use time as a friend to prepare their most important asset in a way that would attract a future owner. Here is a great checklist (Company Worth Template here) to help you think through how close or far away you are from your desired future euphoric exit event. If close, great and congratulations keep up the great work. If you’re far away, send a gift to your future self by using this template to identify where the gaps are and beginning to chip away at closing them. Give us a call and we can help explain how to customize this template for your company.
