Business Exit Readiness Quiz
10 questions
Last Name
First Name
Email
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1. Have you had a professional valuation of your business within the last 12 months?
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Yes, I have a recent valuation
No, but I have an idea of my business value
No, I haven’t considered a valuation yet
Mastering Business Transitions
2. Are your financial records clean, accurate, and up to date?
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Yes, my books are clear and professionally maintained
They are somewhat organized but need some cleanup
My records are a mess, and I rely on estimates
3. Have you separated personal and business expenses in your financials?
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Yes, all personal expenses are separate
Mostly, but some overlap still exists
No, personal and business expenses are mixed
4. Do you have documented processes and workflows for key business operations?
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Yes, I have SOPs and clear workflows in place
Some processes are documented, but not all
No, most of my operations are not documented
5. Does your business run smoothly without your daily involvement?
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Yes, I have a leadership team in place
It depends—some areas still need my oversight
No, the business depends heavily on me
6. Have you addressed all legal and compliance matters (contracts, leases, agreements, regulations)?
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Yes, everything is legally sound and up to date
Mostly, but I need to review some documents
No, I haven’t reviewed my legal obligations yet
7. Do you have a transition strategy in place for leadership and operations?
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Yes, I have a clear succession and handover plan
I have a general idea, but nothing formal
No, I haven’t planned my exit transition
8. Have you identified potential buyers or an ideal buyer profile for your business?
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Yes, I have strong leads or interest from buyers
I have an idea of who might buy but no concrete leads
No, I have not considered who will buy my business
9. Are you financially prepared for the tax implications of selling your business?
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Yes, I have consulted a tax professional and have a strategy
I have some understanding, but no formal plan
No, I haven’t considered the tax impact yet
10. Have you identified growth opportunities that make your business attractive to buyers?
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Yes, I have a clear roadmap for future growth
I have some growth ideas, but they are not documented
No, I haven’t considered growth strategies for the buyer
Congratulations Last One!
Mastering Business Transitions