Ready To Transfer Your Business: Three Essential Steps

When should you start preparing to transfer your business? For Simon Leroux, founder of Optionality, the answer is well before a transaction is on the horizon. He outlines three essential steps to help business owners approach the process with greater clarity and understand the work ahead. 

Most business owners think they will sell their company “when they are ready.” In reality, by the time you feel ready, it is almost always too late to prepare properly. 

I have built three companies, in manufacturing, services and, most recently, artificial intelligence. After working in venture capital and private equity at iNovia, I launched Optionality for entrepreneurs like us: those who want greater clarity and control over the transfer of their business.