Getting Ready for the Exit Day

Download PDF

February 17, 2014

Case categories include: M&A   

Many mid-market CEOs sell their companies for far less than what they hoped because they are unprepared for the “Exit Day”.

CEOs underinvest in preparing themselves and their firms for an exit, and in building business acumen for exiting.  Because most CEOs are inexperienced with selling a business, and because it usually doesn't feel urgent, they don't build skill or knowledge around it and other priorities crowd it out until the event is upon them.  When the event is upon us, many seek to turn it over to investment bankers, and while they play a critical part in many exits, there is much that they cannot do, or where their incentives are not perfectly aligned with the seller. 

We held a round table discussion on this issue on May 30, 2012, and we've attached survey results and point of view on this topic by Robert Sher.