After spending 35 years building, buying and selling businesses, Clinton Lee now advises owners of UK businesses who want to extract the value they’ve got locked up in their businesses.

“I advise them to start with an exit plan. Ideally, at least two or three years before they take their business to market.”

– Clinton Lee

Why you have to check out today’s podcast: * Discover how do you find the right partner to assist in the sale of your business * Learn guerilla advice and expert tips to help you get out of the sale exactly what you’re aiming to get * Understand if it is possible to sell the business yourself. Where do you start? How do you keep the sale confidential from staff and customers? How do you run an effective sales campaign if you’ve never sold a business before? How do you ensure you get the right price? And more…

Learn More about the 3X Value Growth™ Model Go to www.3xvaluegrowth.com/model

Episode Takeaway: How do you value a business according to Clinton Lee

Many business owners want to start with the value. They want to have a figure there, it makes them feel comfortable, it gives them some sort of reassurance. But I believe it’s completely the wrong thing to do.

Because what you’re coming up with is a theoretical number, and buyers don’t care about that.

1. Your efforts should be much better directed towards information influencing the kinds of things that buyers use to come to their value decisions. What matters is how much the buyer thinks you’re worth, not how much your value or thinks you are worth. or your accountant thinks you’re worth, how much your buyer thinks.
2. Getting the right kind of buyers, getting the strategic buyers in, or are going to compete with other buyers on the transaction.
3. Have somebody, a broker who will manage the whole process and get build some competitive tension. So, it’s about putting effort into finding the right buyers into finding well-funded buyers, finding strategic buyers who’re going to see more value in your business than other buyers, essentially.
4. Create the conditions for them to open up their wallets and pay you the kind of money you’d like to see. Work on that rather than on obsessing about how much your business is worth.

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Resources|Links * Link: http://ukbusinessbrokers.com/

Connect with Clinton Lee: * LinkedIn: https://www.linkedin.com/in/clintonleeuk * Website: https://http://ukbusinessbrokers.com/ * Twitter: https://twitter.com/theEXITfirm