How Can Small Businesses Increase Their Value Before Selling with Brent Stringer

Brent Stringer, owner of Exit Factor Indiana, discusses his diverse career in public accounting, leadership, and Exit Planning. He highlights the unique challenges small business owners face, such as overdependence on the owner and unrealistic valuation expectations. Stringer emphasizes the importance of preparing businesses for sale, suggesting a realistic timeline of 10 months and the need for documented processes. He notes a trend of younger business owners embracing Exit Planning earlier. Stringer's approach focuses on creating value for clients, often small businesses, to help them sell faster and for more. He can be reached at [e-mail] or through his website. Quotes: "There's not a business there, there's a job." "Exit planning is just good business." "If it's really dependent on me, then it's not as much of a business as it is a job." "Younger business owners are more open to Exit Planning and willing to do that earlier." "Documenting processes can sometimes actually be low hanging fruit." "We want to make our clients' businesses the best they can possibly be." Takeaways: Building a business independent of the owner is essential for a successful exit. Many owners overestimate business value—realistic valuation is key. Preparation and documentation speed up and increase the value of business sales. Exit planning should start early, not just before a sale. Standard operating procedures (SOPs) both improve operations and attract buyers. Exit Planning is valuable for business resilience against both expected and unexpected events. Conclusion: Thoughtful exit planning is a vital part of smart business strategy, not just an end-of-the-road step. By preparing early, reducing owner dependence, and documenting key processes, business owners can increase their business's value, resilience, and overall satisfaction—while also being ready for whatever opportunities or challenges may arise. Links Mentioned: Website: exitfactor.com Guest Links: LinkedIn: https://www.linkedin.com/in/brent-stringer-2a84a018/ Email: [e-mail]