Successfully exiting your business isn’t easily done without the help of other professionals, credible resources, and other business owners who have “been there, done that!”

In this episode, Tim Scannell discusses the value of strategic business planning for business owners. They outline the steps involved in valuing and preparing a business for exit, including estimating the equity value of the business using tools like Biz Equity. 

Tim discusses:

• The 4 steps of long-term business planning: Discovery, Personal Readiness, Financial Readiness & Determining the Business’ Value
  
• The value of professional guidance including attorneys and CPAs in your business valuation process
  
• How to maintain productivity and keep your eye on the “bigger picture” when valuing your business
  
• Exit channels: What they are & how to know which one is suited for your business needs
  
• And more
  

Resources: 

• What You Didn’t Know About Family Office Services (Ep.15)
  
• Family Office Services Part 2: Making Life Easier (Ep.16)
  
• What To Do When You Hit Your Freedom Point (Ep.82)
  
• BizEquity: The Largest Provider of Online Business Valuation
  
• “The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options” by Laurie Barkman
  
• Value Builder: Sales & Marketing Software for Business Advisors
  
• LinkedIn: The Value Builder System
  

Connect With Tim Scannell:

• tscannell@scannellwealth.com
  
• Hightower Great Lakes
  
• LinkedIn: Tim Scannell
  
• Twitter: Tim Scannell
  
• (219) 531-4941