Mark Osborne argues that exit planning should be a daily mindset, not a one-time task. Integrating it into everyday operations improves how you run the business today and prepares you for a future sale. Unexpected events like partner disputes or illness can force a premature exit, making continuous preparation essential.
Well, and so we've been kind of hinting at this. You know, business owners sit around and think about how much is my business worth? Well, one day I'll get there. One day I'll invest the time to do some of this. But you and I have talked about this, that, you know, the idea that exit planning shouldn't be a one-day activity. And in fact, if you make it an everyday activity, it has a lot of positive outcomes. Both in terms of what it's like to run the business for today, what it's like to plan for, you know, selling that business in the future. And that's something that, you know, it's like life insurance. No one likes to think about dying, so they don't want to think about their life insurance. And the same way, a lot of people running their business are like, well, I may be running it, you know, until the wheels come off. But sometimes the wheels come off through things beyond your control. You could have a disagreement with your partner or You could, you know, get sick or have someone in your family get sick that you need to spend more time taking care of.
How Can You Maximize Your Business Value Before Selling? with Randy Katz Video
