Dont be a Bob, Be a Mary instead!

What do you mean by exit planning!

Meet Bob. Bob started his business twenty years ago with a vision, a lot of hard work, and no shortage of grit. Over the years, he grew the business from a small operation to a successful enterprise that provided well for his family and employed a dedicated team. Bob had always thought that when the time came to sell, it would be as simple as finding a buyer, shaking hands, and walking off into the sunset with a check in his pocket.

But reality hit hard when Bob decided it was finally time to sell.

He went to market without a plan, figuring his reputation and the success of his business would carry the day. Soon enough, a potential buyer emerged, and Bob felt like he was on top of the world. The buyer seemed interested, the offer was on the table, and everything looked set. But then came the dreaded due diligence process.

For the next nine months, Bob was dragged through an exhausting process. The buyer’s team requested endless documentation—financial statements, contracts, customer records, employee agreements, and detailed reports on every part of the business. They questioned everything. Bob scrambled to pull together information he hadn’t thought would matter. His books, which were good enough for him to understand, now seemed inadequate. Small cracks he’d ignored became glaring red flags. Each day brought more questions, more stress, and more doubts.

As the weeks turned into months, the buyer began to negotiate down the price, citing “risks” and “uncertainties” uncovered during due diligence. By the end, Bob felt cornered, defeated, and completely drained. He’d built this business from scratch, but in that moment, it felt like he was being forced to justify its value over and over again. He even considered walking away altogether. But the damage was done. He accepted a final price far below what he’d hoped, just to end the ordeal.

Now, let’s meet Mary.

Mary, like Bob, had spent decades building her business. But unlike Bob, Mary started preparing for her exit five years before she ever planned to sell. She understood that a business isn’t just a product or a service; it’s a whole ecosystem that needs to look attractive to an outsider. She knew she didn’t want to leave money on the table, and she’d heard enough stories like Bob’s to understand that selling a business was no simple transaction.

Mary worked with advisors to develop a robust exit plan. Together, they assessed every part of her business with a buyer’s eye. They ensured her financials were in order, with three years of audited statements showing consistent profitability and growth. They documented systems and processes, making the business almost turnkey. Her team was stable, with clear roles, a strong leadership core, and a culture that kept employees motivated and engaged.

Marketing and sales were fine-tuned to ensure a predictable stream of leads and conversions. Even the delivery side of her business was optimized, with clear procedures to maintain customer satisfaction and minimize churn. By the time Mary put her business on the market, she’d built a well-oiled machine that didn’t depend on her to keep running.

When the buyer came along and began the due diligence process, it was smooth and straightforward. Mary had every document ready, every system documented, and every process in place. She answered questions with confidence, and the buyer saw little risk because Mary had already addressed potential red flags. Instead of grinding negotiations, Mary found herself in a position of strength, able to command a price that reflected the true value of her business.

The entire process took just a few months, and Mary walked away with not just a successful sale, but the peace of mind that came from knowing she’d done everything right. Her preparation and planning meant she didn’t just sell her business; she maximized its value and ensured it could thrive without her.

The difference between Bob and Mary’s stories? Preparation.

Bob learned the hard way that leaving an exit to chance can lead to a grueling process that drains you financially and emotionally. Mary, on the other hand, had an exit plan—a roadmap that made her business more valuable and attractive to buyers. Where Bob felt defeated, Mary felt empowered.

Exit planning isn’t just about checking boxes; it’s about building a legacy that endures. It’s about taking control of the narrative so that when you’re ready to step away, you do so on your terms. Whether your business is your life’s work or a stepping stone to your next adventure, a solid exit plan ensures you reap the rewards you deserve.

NOTE - no Bobs' were hurt in this process!