Summary

In this episode, Josie and David Fisher discuss the importance of having an exit mindset for business owners.

They emphasise that exiting a business is not a one-time event but a multi-year process that requires careful planning and preparation.

The conversation covers various stages of preparing for an exit, including optimising business operations, succession planning, and understanding market readiness.

They also highlight AI's impact on business and the necessity of adapting proactively to market changes. The episode concludes with a challenge for listeners to start mapping out their exit strategy.

Exit isn't an event; it's a Mindset.

Only 20 to 30% of small to mid-sized businesses that go to market sell.

75% of those who do sell, unfortunately, regret it.

Preparation for exit is a continuous process that takes years.

You need clean records of everything to attract buyers.

Understanding your legacy is crucial when planning an exit.

What gets measured gets sold; focus on exit readiness.

AI is a significant factor in market readiness and can impact your business.

You must optimise your operations to make yourself redundant.

Succession planning is essential for a smooth transition.

Sound Bites

"Exit isn't an event, it's a mindset."

"Only 20 to 30% of businesses sell."

"The preparation is a continuous process."

"You need clean records of everything."

"What gets measured gets sold, they say."

Chapters

00:00

The Exit Mindset

02:46

Preparing for the Exit Runway

06:08

Optimising Business Operations

09:04

Succession Planning and Legacy

11:52

Transformation and Negotiation

15:06

Readiness for Sale

18:11

Market Positioning and AI Impact

20:56

Weekly Challenge and Wrap-Up

Meetup Groups

Wed, Jun 4 · 7:00 PM AEST

Business Exit Strategies Workshop with JD & Friends (Zoom)

Business Exit Strategies Workshop

Fri, Jun 13 · 1:00 PM AEST

Business Referral Networking Mixer @Ovolo with JD & Friend (In-person)

Business Exit Networking Mixer