Executive coach Lisa Murphy says business owners should think about exit strategy and valuation from day one, not when they're ready to sell. Most owners wait too long and miss opportunities to build value. Each decade brings different market conditions that shape how you should plan.
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I think that's great advice. And I think you're in a space that can be a little bit difficult for people to think about and conceptualize. As an executive coach and fractional leader, I want my clients thinking about their exit strategy the first day they think about building a business. But the truth is, is that most business owners aren't thinking about this until they think they're ready to retire or until they think they want to retire next year or the year after. So as most business owners think that business value only matters on the day they sell, you've built an entire practice around the opposite idea, right? What do owners actually get wrong about when value matters, how value is measured, and what it's actually costing them in the now before they think they're ready to exit their business?
Ooh, that's a very long and a very long question there, Lisa. That's actually, that's really true, Lisa. One of the things that we also have to think about is the fact that every decade that goes by is a different type of thinking. Because for every decade, the school system may change the way they work. Colleges may— Would you agree with that, Angela? 100%.
