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Money and ownership · peer advisory council

Succession and exit readiness

“I’m thinking about selling in five years. I have no idea if the business is ready.”

What it often sounds like at the table

Whether you’re planning to sell, hand the company to family, or simply want more freedom, the work starts long before you’re ready to leave, and it’s rarely something you can discuss with your employees. The council gives you a confidential place to think it through. I sold most of my own companies, so I bring that experience to the table too.

You might recognize this if…

  • The business still depends heavily on you.
  • You haven’t looked at the company the way a buyer would.
  • There’s no clear successor for your role.
  • You’re not sure what you want life to look like afterward.

Questions the room might ask you

  1. What would a buyer pay for, and what would they discount?
  2. Who could run the company without you today?
  3. What are your numbers telling a buyer?
  4. What do you want your days to look like after the transition?
How the council works on it

What happens when you bring succession and exit readiness to the room.

  1. You put it on the table

    You lay out the situation in your own words, with the numbers and history that matter. Ten or so owners give it their full attention.

  2. Questions before advice

    The room asks questions like the ones above until everyone, including you, understands the real issue. Often that’s where the breakthrough happens.

  3. Experience, not opinions

    Owners who have faced something similar share what they did and what they would do differently. No competitors sit at the table, so nobody holds back.

  4. You make the call

    The group doesn’t run your company. You decide what to do, with a lot more perspective than you walked in with.

  5. Say it out loud

    You name your next step before you leave. Next month, the room asks how it went.

What you leave with

A realistic picture of where the business stands, and the first steps to strengthen it. A company prepared for an eventual exit is usually a better company to own today.

Want a head start before the call? Check your customer concentration risk →

Bring this to the table Why it matters: Permission to say what you can’t say everywhere else

Related conversations

Profitability and financial performanceMore sales don’t always mean more profit.Partnership and ownership challengesOne of the loneliest problems an owner can face.

Prefer to work on succession and exit readiness privately instead of in a group? I also do this one-on-one (opens JeffreyRands.com in a new tab).