Exit Objectives | Business of Software Exit Mastermind | Joe Leech coach to CEOs

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In this video, we dive into the crucial topic of business exits and explore two main approaches: running your own process vs. responding to buyer outreach. Did you know that only about 30% of businesses put on the market actually sell? It's a daunting statistic, but understanding these approaches can greatly increase your chances of success.

First, we discuss the scenario where a buyer, typically a PE firm or strategic buyer, approaches you. While this might seem convenient, it often means you're adopting their process, which can lead to numerous challenges if you're not fully prepared. From unexpected issues during due diligence to a potentially lowered sale price, this approach can be fraught with pitfalls.

On the other hand, running your own process puts you in the driver's seat. By thoroughly preparing your business for sale—engaging accountants and M&A advisors, ensuring all your finances are in order, and approaching multiple potential buyers—you can negotiate from a position of strength. This method often leads to better outcomes and fewer surprises down the line.

We also touch on the emotional and practical challenges that come with both approaches and how you can navigate them effectively. Whether you're just starting to think about selling your business or you're already in the middle of the process, this episode offers valuable insights and strategies to help you succeed.

Join me for our upcoming Exit Mastermind, where we’ll dive deeper into these topics and more. If you're currently struggling with your exit strategy or just want to chat about your options, drop me a line. I'd love to help.

Chapters
0:00 - Introduction and Scary Statistics
0:25 - Approach 1: Buyer Outreach
1:36 - Approach 2: Running Your Own Process
2:44 - Emotional and Practical Challenges
3:04 - Upcoming Exit Mastermind and Support

Find out more at https://businessofsoftware.org/events...
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I'm mr Joe Leech and I coach CEOs so they and their businesses thrive. I bring 20 years in tech and $20bn in additional revenue.

Here’s how you can take things deeper with me:
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