Founder and President of Exit Factor
at Exit Factor
Entrepreneur Leadership Network® Contributor
Jessica Fialkovich is the founder and president of Exit Factor, a growing franchise brand of trusted advisors and consultants who assist entrepreneurs in preparing their businesses for sale and maximizing their value.
Even if your business is in good shape, you won't significantly increase its valuation unless you start making improvements at least three years in advance.
Boomer-owned businesses tend to be in better financial and operational shape than others; the longer it's been in operation, the better its track record.
Having a clear exit timeline ensures you're always prepared, whether you're targeting a specific sale date or need to adapt due to unforeseen circumstances.
Selling to a private equity firm while remaining involved during the growth phase could be the strategy you need — if you're willing to lose everything to try to hit that mark.
If you want to be on the positive side of those numbers, you need to start planning the succession almost as soon as you start or acquire the business.