Business exit planning—Learn how to use extra money to create passive income and financial freedom in business exit planning.

Failure to prepare for your eventual exit from your company is a common mistake. This poor planning makes it much more difficult to sell your business when you’re ready to leave, and it has a negative impact on the value of your company when you do eventually sell. 

In this episode of Onward Nation, business buying, growing, fixing and selling authority Michelle Seiler Tucker shares tips, strategies and actionable steps to help you prepare your business exit planning that will add value to your company now and get it ready for sale in the future.

What you’ll learn in this episode is about business exit planning: 

• How Michelle’s ability to close deals led her to become regional vice president at Xerox after just six months at the company
• Why 70% of businesses that have been operating for 10 years or longer will go out of business because they haven’t adapted to how consumers buy products and services today
• How Michelle dipped her toe into working in franchise development while still working at Xerox, and how she sold 100 franchises in six months
• How Michelle transitioned her expertise from selling franchises to selling businesses and helping owners develop a business exit planning
• Why many established businesses aren’t salable because they are too dependent upon the business owner
• What common mistakes do business owners make that can end up hurting their company’s value or salability down the road
• Why preparing your business for sale requires you to ensure that six P’s are in place: people, product, processes, proprietary, patrons, and profits
• What important lessons can be learned from explosive brands like Amazon, McDonald’s, and Apple that can be applied to businesses of any industry and size?
• What surprising systems, relationships, and other assets add value to your company and make it more attractive to potential buyers
• Why profits are never the problem hurting your company’s value but are a symptom of the real problems

Resources:

• Learn more about business exit planning, and you can find Michelle here
• Elevate your ideas about business exit planning by tuning in to this podcast from Michelle: Exit Rich
• LinkedIn: www.linkedin.com/in/michelleseiler/
• Facebook: www.facebook.com/michele.seilertucker
• Twitter: @MSeilerTucker

Additional Resources:

• Sell With Authority by Drew McLellan and Stephen Woessner: https://amzn.to/39y7x13
• Predictive ROI Free Resource Library: https://predictiveroi.com/resources/
• Stephen Woessner’s LinkedIn: www.linkedin.com/in/stephenwoessner/