The 6 Steps to Selling Your Business Successfully with Chris Vanderzyden

Do you have an exit strategy? Do you know how to sell your business successfully?

It’s important that you prepare an exit plan for yourself, your business, and your future.

Chris Vanderzyden is an author, speaker, and leading educator on exit planning and mergers and acquisitions. She is a founding partner of Legacy Partners, LLP, an exit planning and M&A advisory firm dedicated to creating and executing exit strategies for privately held mergers and acquisitions. She is also an expert contributor for media outlets, a guest lecturer for Harvard University’s Entrepreneurship and Innovation class, and the bestselling author of 7 Steps to Entrepreneurial Victory. She has recently released her newest book, Master Your Exit Plan: Sell Your Business, Preserve Your Legacy.

In this episode, Chris tells us the importance of having an exit plan in place for now or the future and what the risks are of not being prepared for it.

 

What you will learn from this episode:

Discover the importance of planning an exit strategy for your business and financial future Learn what are the six exit strategies you can choose from and how to apply them in your business Find out what are the risks of not being prepared with an exit plan

 

“In order to decide what exit strategy is right for you, you have to understand all of the things that are important to you.”

- Chris Vanderzyden

 

Valuable Free Resource:

How to exit your business without the stress and without sacrificing your future financial freedom: https://legacypartnersllp.com/

 

Topics Covered:

01:35 - Where it all started: Chris shares how she got interested in exit planning and how it all started

02:41 - Chris talks about what exactly is a master exit plan

03:38 - What are the risks of not having an exit plan for your business

05:03 - Chris shares what are the six exit strategies and how can you decide which one is for you

08:31 - Selling a Business Isn’t Like Real Estate: What are the seven steps into selling a business

10:48 - Chris shares what are the services they offer in the Legacy Partners LLP

 

Key Takeaways:

“Without having all of those parts of themselves aligned, the chances of not being successful exiting their business are pretty sky high. So, it requires a comprehensive view of the business owner in order to do it successfully.” -Chris Vanderzyden

“You have to have a comprehensive financial plan done in which you are projecting, "After I exit my business, this is what I want my life to look like. And this is what the financial responsibility will be with that. And so, if I sell my business, will I be able to fulfill those business personal, and financial goals?" -Chris Vanderzyden

“We looked at a couple of different exit options, and then came up with the right one that would have fulfilled their goals, both financially and with the business and personal.” -Chris Vanderzyden

“One buyer is no buyer.” -Chris Vanderzyden

“The purpose is to engage with multiple buyers because that's the way you're going to fulfill your goals to a higher level.” -Chris Vanderzyden

“It's a little more intense than selling a business, but it's well worth doing it correctly.” -Chris Vanderzyden

“It's very important to recognize that you do need somebody that is going to be on your side of the fence. There's nothing worse for a business owner, “Do they have a transaction, they wander off?” -Chris Vanderzyden

“When deciding how you want to exit that business, you also have to understand the value of the company. Integrate that value into your personal financial plan.” -Chris Vanderzyden

 

Ways to Connect with Chris Vanderzyden:

Website: https://legacypartnersllp.com/

 

Ways to Connect with Sarah E. Brown:

Website: https://www.sarahebrown.com/ Twitter: https://twitter.com/knowguides LinkedIn: https://www.linkedin.com/in/sarahebrownphd/ To speak with her: bookachatwithsarahebrown.com