When it comes to exiting your business there are many factors to consider in order to maximize your profit. These 5 factors are often the most overlooked, but can make or break the deal.

There is a progression that must be considered when exiting. Not everything can be a priority all at once. Exiting requires a process (The Simplifi Process) of prioritizing and executing in order to create maximum value in your business. That is why planning ahead is in the owners best interest.

Every owner preparing to exit his or her business must do a deep dive on the “3 Gaps” within their business. Identifying the values within these gaps will propel the owner into identifying the strategies that must be used to address them .

When preparing for exit, the owner needs to take into account the 3 most important factors within the plan: Personal, Financial and Business. When executing on an exit plan, all 3 legs must come into focus simultaneously.

There is a time-tested process (The Simplifi Process) that will guide owners to make smart and strategic decisions along the journey toward their exit. Exiting can seem daunting, but not with a clear path to get there.

When executing on the Simplifi Process, the owner must become laser focused on the 4 Intangibles within the business. These intangibles will have a dramatic affect on how much the business will be worth at the time of the sale.

All exiting owners assume their timeline for exiting will go according to plan. However, the reality is 50% of business owner exits are involuntary. That means something didn’t go the way they thought. Every exit must take the 5 D’s into consideration.

The Simplifi Process is designed to decentralize the business owner, which will have a dramatic impact on the value of the business at the time of sale. Moving the owner to the “Owner’s Box” is critical during the journey.

All owners who exit must surround themselves with Trusted Advisors who can assist and empower them to exit successfully. However, many owners don’t know who these partners are and may not even know they need them. Learn more about that team here.

Contrary to the belief of many business owners, the amount you file on your taxes for the value of your business doesn’t equal the real value of your business. This article explains the difference, why it should matter to you, and how to calculate your real value.