When Do You Need a Business Exit Advisor?

Diane Hartz-Warsoff is the President of Exit Factor of the SLC & Utah County branch. She is focused on helping business owners maximize their company's value and prepare it for an exit. With over 8 years of experience, Diane shares her wisdom on this week's podcast and talks about her role as an exit advisor, a business owner's value to a company, and letting go of control. 

 

Key Points

[3:50] You should start/think of your exit plan when you start your business. 

[4:45] You want to document each element or department of your business one at a time. It can feel overwhelming doing it all at once. 

[7:20] What is your legacy? Is it financial? Community? You need to define this. 

[12:15] What is the role of an exit advisor? 

[14:10] What should business owners be thinking about/preparing for? 

[17:35] Getting any business owner to let go of control and let others do it is a very difficult mental shift. 

[23:45] A prospective buyer is going to pay you for the work you've done and the business you've built, not for what the business has potential for. 

[27:00] If you can get other people to put out the fires, then you become a much more valuable business.

[29:20] Interested in working with Diane? Reach out! 

 

Tip of the Day:

It's never too early to plan your exit and it's a holistic decision for yourself and where you are in life. 

 

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