Buyers want to see a capable transition team in place. If you're selling a lifestyle business, identify and develop internal successors now. It makes your company worth more and easier to hand off.
When you're selling a business, it's— the buyer is always gonna look at some kind of transition team to stay in the business. So, you know, you gotta start thinking about who those people should be within your organization and start grooming them in preparation for that exit is wise because it helps improve value for the business as well as it provides an easy flow of change of leadership for the buyer that's, that's going to be buying the company. When I say lifestyle businesses also, I'm thinking about, you know, the owner that has had success for 20, 30, 40 years in some cases. They have grown the business from start— they started in a garage and now they have a nice $15 million revenue business plus
How Can You Maximize Your Business Value Before Selling? with Randy Katz Video
