Q: What are the 2 most common pieces of advice for those who are within a few years of selling?
JT says: First, I’ve heard this phrase well over 100 times the last 20 years, “I should’ve reached out 2-3 years ago when the thought of selling first crossed my mind.” When answers are received late, it can simply be too late to effect positive outcomes or make changes. Early answers resolve many obstacles.
Second, ensure your books are clean. (From a buyer’s perspective, not yours.) Not only misclassifications and ‘miscellaneous’ accounts, but tracking WIP, Aging AR, etc. ‘Financial cleanliness’ is essential as it effects the Quality of Earnings and resulting value. A little effort here goes a long way.
Together, these will offer crucial peace of mind for the road ahead.
Get Answers + Get Prepared = Get Retired
Have a question for JT? Don’t worry, all questions will remain anonymous! You can email JT at jt@exitstrategies360.com.
