Most trades business owners are not aware of the fact that they can sell their business. A reason why an exit strategy is not something they plan on doing until later. But from the moment you opened your business, you can already start planning your exit strategy, starting with identifying why you want to exit your business, so you can gear up towards making your business saleable when the time comes. 

In today’s podcast episode, I welcome my guest Danielle Putnam. This episode is the first of a three-part series called Exit Strategy vs. Wishful Hoping. We discuss why most business owners fail to create an exit strategy from the beginning. Danielle also shares a framework to follow for an exit strategy and the importance of understanding your organisational chart. 

Find out more about what an exit strategy is and how you can start planning it by tuning in to this episode. 

Discussion Points: 

0:00 Offer and Introduction  3:08 Danielle shares her story  7:27 Most business owners don’t have an exit strategy from the get-go 9:48 Most business owners lack an understanding of business dynamics  13:04 The exit strategy is about freedom  15:12 Framework for an exit strategy  16:37 Things a buyer wants to know before buying a competitor  19:34 The beginning phase of an exit strategy 22:28 Evolution happens in business 23:15 The organisational chart  24:11 Recognise how many spots you as the owner is filling  25:23 What true success is  25:57 Have high-level talent in your team 

About the Guest: 

Danielle Putnam is the president of The New Flat Rate, a company that she and her father founded in 2011. She is also the immediate past President of Women in HVACR, an organisation that encourages more women to enter the trades. 

Resources:  Tradie Web Guys ‘automation’ - (https://www.tradiewebguys.com.au/automation/) Tradie Web Guys Elevation Program - (https://www.tradiewebguys.com.au/elevation/) Tradie Web Guys’ Apply (qualification) page (https://www.tradiewebguys.com.au/apply/) Visit The New Flat Rate’s website (https://thenewflatrate.com/)  Contact Danielle through email (danielle@thenewflatrate.com)  Dominic Rubino’s Podcast - Cabinet Maker Profit System Podcast (https://cabinetmakerprofitsystem.com/podcast/) 

Books mentioned in this episode:  Good to Great: Why Some Companies Make the Leap and Others Don't (https://www.amazon.com/Good-Great-Some-Companies-Others/dp/0066620996)

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