Exit Planning is a trendy topic, especially for owners of stuck companies who often develop the itch to sell their business when raw emotions push aside rational thought.
Exit Planning means helping prepare the company and shareholders for an ‘exit event’ (aka Sale).
The idea of “It’s time to sell the business” becomes more top of the mind when the owner(s) of a stuck company grow weary of dealing with their own personal collection of stucks. Here are some points of frustration…
- the owners fighting with each other (Stuck in a Ditch)
- the fun is gone for the CEO (Stuck in a Ditch)
- overbearing customers (Stuck in a Rut)
- disgruntled employees (Stuck in the Slow Lane)
- more and more government regulations and uncertainty (Stuck in the Rough)
- a rapidly changing industry (Stuck in Another World)
- declining margins (Stuck in a Maze)
- ubiquitous competition (Stuck in Traffic)
Since I have been asked about Exit Planning/Selling a business frequently in the last couple of months, I thought I would share an email I wrote to the CEO of a stuck company who was contemplating selling. Here goes: