4 Key Strategies for a Successful Exit Just because a business is profitable doesn't mean it will command a good exit price. Here's what you need to know to get top dollar for your company.
When Rem Oculee tried to sell his distribution business after three years of building it, he learned a valuable lesson that would shape his future career: a profitable business doesn't automatically command a good exit price.
Despite years of effort and healthy profits, Oculee had to settle for a fraction of what he
believed the business was worth.
"I was counting on selling that business to enter into other ventures," Oculee
recalls. "You think people are just going to buy it because it's got profit. That's
furthest from the truth."
That experience became the catalyst for what would evolve into 9Q Ventures, a
mergers and acquisitions firm focused on acquiring businesses and enhancing
their value. The journey also inspired Oculee to spend nearly a decade researching and writing "Exit Mindset," a comprehensive guide to planning successful business exits.
Here are the key insights Oculee has learned about creating valuable exits:
Related: How AI Innovation Can Drive Business Growth and Exit Success
Start planning early
"It's not as simple as going to a broker and listing it when you're ready to go," Oculee explains. "Many business owners treat the exit like a garage sale, where you put a signup and hope somebody walks by and takes it for the right price. To realize the true value of what they've built over the years, owners must have the right guidance."
While theoretically, exit planning should start from day one, Oculee recommends beginning serious exit preparation at least a few years before you plan to sell. This lead time allows owners to implement strategic changes that significantly increase the business's value.
Focus on product excellence
When evaluating potential acquisitions himself, Oculee always starts with the
product.
"I don't care about the infrastructure at first---I look at the product. Is it something I want to be interested in? Is it something that's going to appeal to the market?"
He advises business owners to make their product is the best it can be in the marketplace before considering an exit. A superior product not only attracts buyers but also commands premium valuations.
Related: Doing the Math — Why Solving this 4x3 Equation is the Key to a Successful Business Exit
Prepare for life events
One often overlooked aspect of exit planning is preparing for unexpected life events.
"People work 10, 20, 30 years building their businesses," Oculee notes. "They think, 'Yeah, I'll exit someday,' but they don't know what that exit looks like."
For those facing urgent exits due to health issues or other life circumstances, it is important to use a time process that optimizes efficiency, accuracy and timeliness.
Even more concerning, Oculee points out, is what happens if an owner passes away unexpectedly. The family might face pressure from the IRS to quickly sell the business to pay estate taxes, potentially resulting in a fire sale.
Take a holistic approach to acquisitions
Through 9Q Ventures, founded around 2013, Oculee implements what he calls "multi-x strategies" that can multiply business value. As a mergers and acquisitions firm, 9Q Ventures directly acquires businesses, focusing on three key areas: products, infrastructure, and what he terms "the conversation with the consumer." This approach ensures that both the acquiring company and the selling business owner achieve optimal outcomes.
Today, Oculee leads acquisitions at 9Q Ventures. He emphasizes that the goal isn't just to buy businesses—maximizing value through direct involvement while ensuring transitions that benefit both parties. That young BIZ Experiences who once had to settle for less-than-ideal terms now helps others achieve better outcomes through strategic acquisitions and value enhancement.
"If people believe in your vision," he says, "you don't have to have any money, but you have to have a vision that is solid that people can get behind and rally around."
