For many business owners, selling a business is one of the most important— and personal —decisions they will make. Having a solid exit plan is key for a smooth and profitable transition.  We have invited Matt Frye, managing partner of Bluestem Resources Group, to share his insights on how to begin preparing a business exit strategy. 


1. Define Your Personal and Financial Goals

Be clear on your objectives. Ask yourself:

  • When would you ideally like to step away?
  • Do you want to retire fully or stay on in a limited role?
  • Is leaving a legacy, maintaining your company name, or taking care of key employees part of your plan?
  • What lifestyle do you envision post-sale?
  • How much do you need from the sale?

Tip: Meet with your financial planner early to discuss how much money you will need to support your retirement goals.

2. Understand Where You Are Today

Obtain a business valuation to identify if you are on track to meet financial targets for your retirement with your business sale proceeds and to initiate tasks to maximize the prospective sale value of your business. 

  • Understand the current market value of your business
  • Identify value drivers and potential areas for improvement
  • Consider hiring an advisor to assist you with tasks, timelines and checkup points on milestone objectives.

Tip: Talk to an advisor to assist you with tasks, timelines and checkup points on milestone objectives.

3. Explore Exit Options

There is no one-size-fits-all solution. Consider what exit route best applies to your situation:

  • Management Buyout (MBO) 
  • ESOP (Employee Stock Ownership Plan) 
  • Family Succession 
  • Third-Party Sale 

Tip: Each option has pros and cons – talk to an advisor to help you choose the right path based on your goals, business structure and timeline. 

4. Align Your Goals with Your Exit plan

Your exit strategy should reflect what matters most to you — whether that’s taking care of employees, maximizing sale value, or preserving the company name. Define what success looks like to you and build your plan around it. Once you confirm your priorities and determine your objectives, it is time to direct your preparation and marketing efforts to support the strategy that best matches what you want from the sale.

5. Execute Your Plan

Implementing your exit plan is a process. 

  • Build in time – a successful sale may take up to 1-2 years to prepare and close
  • Work with advisors (CPA, M&A broker, banker, accountant) to help you meet your goals
 

Want to take a deeper dive? Join Us for Lunch!

Community Connects: Insights on Exit Strategies
With Matt Frye, Bluestem Resources Group
Wednesday, June 18 | 11:30 AM – 1:00 PM
Security Bank | 10727 E. 51st Street | 2nd Floor Conference Room

Enjoy lunch, connect with fellow business owners, and learn from Matt Frye, an experienced M&A advisor and dealmaker, as he shares expert advice on preparing your business sale.

Space is limited – Reserve Your seat today!

Register Here