FAQ

. How long do exits take?

Every situation is different, but the average exit could take 6-12 months.

. When is a good time to prepare for your exit?

24-36 months before your exit. Why? Some value-enhancing changes to your business take time.

. What steps should a business owner take to prepare for an exit?

Below are Speedshift Advisors’ guidelines to a graceful and profitable exit:

Step 1. Consider Your Preferred Timeline
Step 2: Establish Your Personal Post Exit Plan
Step 3. Establish Your Exit Readiness (including the growth story!)
Step 4. Get a Guideline Business Valuation
Step 5. Consider the Buyer Possibilities
Step 6. Organize Structural and Legal Documentation
Step 7. Get Financials in Order
Step 8. Complete HR and Human Capital Audit
Step 9. Evaluate IP and Other Elements Unique to the Business
Step 10. Evaluate Insurance Coverage and Risk Tolerance
Step 11. Determine How Your Business Stacks Up Against Competitors
Step 12. Assemble Your Exit Strategy Team

By focusing on profitable growth while working through these steps, you are making your business more attractive to potential buyers.

. Why should I hire an advisory firm?

Our role is to make your exit as seamless and successful as possible. For most business owners, exiting is a life changing process, culminating in years of hard work and perseverance. We recognize the importance of this event. We know the opportunities and hazards owners face in times of transition. Speedshift Advisors offers the knowledge and practical experience to realize the most effective exit.

Most entrepreneurs only sell one company in their career. If this is your first, then you could be at a severe disadvantage when dealing with professional buyers, many of whom complete several acquisitions annually. Receiving trusted M&A advisory services evens the playing field, and helps you feel more assured throughout the exit process.

. When is a good time to sell my business?

It is always best to sell a business when you want to, rather than when you have to. This means you should go to market when you are fully prepared. Ideally, you want to time your exit to match the solid performance of your business with peak selling cycles in the private capital markets. The earlier you start planning, the more control you will have over the process.

. Can I sell my business on my own?

Legally, the answer is yes, but it's often not in your best interest due to the complexities and demands of the process. Selling a business is time-consuming and requires significant attention to detail, which can divert your focus from running your company effectively. Partnering with an experienced advisory firm allows you to continue managing your business while experts handle the sale process. This ensures a smoother transaction, mitigates risks and helps maximize your financial returns.

. How many years of financial data should I present to a prospective buyer?

Buyers, investors, and lenders prefer at least three years of financial records. In some cases, a more extensive financial history is required. An advisor can help you to assemble appropriate material.