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019: How to Design Your Exit Strategy Plan to Sell Your Business for Top Dollar to Qualified Buyers - with Pramod Patel
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What steps should you take to safeguard your business? Join us as Pramod Patel share numerous tips and insights on how to sell your business for top dollar.
On episode 19 of Safeguarding Your Business, we talked about how to sell your business.
I thought it would be good for you guys to hear straight from a practitioner in the field.
The subject at hand is Pramod Patel. Pramod is the CEO of Just Elementary, Inc. and the Division Manager for the Business Brokerage arm of the corporation. Pramod has been active in business brokerage for 13 years, specializing in helping business exit their businesses for top dollar to qualified buyers. With the philosophy of 'begin with the end in mind', Patel helps business owners focus on Exit Strategy planning and implementation in three key areas-
- operational efficiency (organizational structure),
- occupancy cost management (leasing/financing) and
- business valuation.
Among the benefits that clients have gained from the exit planning have been more profitability, renewed and sustainable enjoyment of the business, and substantial growth in revenue.
In this episode, you’ll learn about:
Business Valuation (for businesses under a few million in price)
- When should you have your business appraised.
- What’s the difference between a valuation and an appraisal.
- Is there more than one standard of value used in business valuation? (Fair Market Value, Fair Value, Investment Value, Book Value, etc.)
Exit Strategy (which incorporates Business Valuation)
Small Business Resources
Small Business Book
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