I want to exit my business in five years but I am still the main driver of sales and operations. What practical steps should I take today to start this runway?

Question

Tyler Smith · Accepted Answer

Five years is the ideal runway to prepare your business for a clean exit. Right now, your main goal is to make yourself irrelevant to the daily operations. If you are the primary driver of sales and operations, your business is unsellable or will command a heavily discounted multiple. Start by looking at your EOS® Accountability Chart. You must identify who can take over your seats. If you hold both the Visionary and the Integrator seats, you need to transition the Integrator seat first. Begin delegating your responsibilities using a systematic approach. Let your leadership team run the weekly Level 10 Meeting™ without your active direction. This allows you to reclaim white space, which is open time to focus on strategic long term planning rather than fire fighting. Over the next five years, your job is to transition from an operator to an asset owner. Buyers are looking for a turnkey engine that runs smoothly without the founder. By taking a strategic pause from daily operations now, you allow your leadership team to build the muscle memory required to lead. This makes the business highly attractive to buyers who want a self sustaining organization.