Plan for a Profitable Exit: Position Your Business for Maximum Value

Business owners who’ve spent a lifetime launching, nurturing, sweating, and investing in their business deserve something in return. Life can turn on a dime, and the timing of retirement is never a sure thing. Planning for your business to be positioned as a sellable commodity is best addressed now, not later.

The reality is that most business owners:

• Pass their business onto family members.
• Sell the business for a lump sum or to generate passive income in retirement.
• Quietly shut the doors, lay off employees, and retire with no residual income.

The third option can be avoided by disciplined planning, which may include:

• Obtaining a professional business valuation to assess the current business value and uncover weaknesses to overcome.
• Initiating a relationship with a business broker, lawyer, and CPA to help you navigate the sale.
• Thorough documentation of operational protocols.
• Maintaining accurate, by-the-book bookkeeping
• Replacing yourself in the business with capable team members who can sustain operations.
• Creating a strategic marketing plan with a scalable lead generation and sales system. This boosts your business value and gives the new owner a clear path to success.

A repeatable marketing system can be implemented within three years of a planned sale, resulting in a significant increase in the sale price by enhancing brand recognition, refining creative messaging and presentation, and achieving scalable growth. Many business buyers now find that growth by acquisition is easier than continually seeking new customers, which makes your business a more attractive asset to potential buyers.

If you are considering retirement within the next decade, strategic planning today can help you build lasting, generational wealth for yourself and your loved ones.

The retirement of the Boomer Generation (born 1946-1964), which now numbers 71.6 million people living, will create a huge wave of business transitions over the next 10 years.

Some facts to consider:

• According to the U.S. Census Bureau, by 2030, all Boomers will be age 65 or older.¹
• Among those still working, the average expected retirement age is around 68 years old for Boomers.²
• There is a strong “peak” retirement wave: the large number of Boomers hitting 65 between ~2024-2030 is expected to reshape labor markets, social programs, etc.³

Sell your business with a strategic marketing plan, compelling messaging, and a scalable sales system that keeps delivering results long after you’ve stepped away. Contact X-Factor today to discover how to maximize your retirement with a strategic exit. 

Sources:

1. www.census.gov
2. www.retirepreneur.com
3. www.leowealth.com