Getting Ready to Sell Your Company?

In this episode of The Lazy CEO Podcast, host Jim Schleckser discusses the considerations and preparations entrepreneurs should undertake before selling their businesses. Schleckser emphasizes the importance of viewing the process as a trade of asset classes rather than a simple sale. He highlights key factors to address well in advance, including the quality of the executive team, the protection of key team members through contracts, and the necessity of making oneself less critical to daily operations. Additionally, Schleckser delves into the significance of having reviewed or audited financials and the need to present potential upside and opportunities for the buyer to maximize the business's value. The podcast discusses earn-outs and the implications of hanging around after the sale. Overall, the episode provides valuable insights for entrepreneurs contemplating the sale of their companies.