283 – How to Begin Planning Your Exit Strategy

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Most trades business owners are not aware of the fact that they can sell their business. A reason why an exit strategy is not something they plan on doing until later. But from the moment you opened your business, you can already start planning your exit strategy, starting with identifying why you want to exit your business, so you can gear up towards making your business saleable when the time comes.

In today’s podcast episode, I welcome my guest Danielle Putnam. This episode is the first of a three-part series called Exit Strategy vs. Wishful Hoping. We discuss why most business owners fail to create an exit strategy from the beginning. Danielle also shares a framework to follow for an exit strategy and the importance of understanding your organisational chart.

Find out more about what an exit strategy is and how you can start planning it by tuning in to this episode.

What’s Discussed in This Episode:

0:00 Offer and Introduction 
3:08 Danielle shares her story 
7:27 Most business owners don’t have an exit strategy from the get-go
9:48 Most business owners lack an understanding of business dynamics 
13:04 The exit strategy is about freedom 
15:12 Framework for an exit strategy 
16:37 Things a buyer wants to know before buying a competitor 
19:34 The beginning phase of an exit strategy
22:28 Evolution happens in business
23:15 The organisational chart 
24:11 Recognise how many spots you as the owner is filling 
25:23 What true success is
25:57 Have high-level talent in your team 

About the Guest:

Danielle Putnam is the president of The New Flat Rate, a company that she and her father founded in 2011. She is also the immediate past President of Women in HVACR, an organisation that encourages more women to enter the trades. 


Books mentioned in this episode: 

  • Good to Great: Why Some Companies Make the Leap and Others Don’t (https://www.amazon.com/Good-Great-Some-Companies-Others/dp/0066620996)


Connect with me on LinkedIn. For more podcast episodes, you may also visit my website. Tune in and subscribe to The Site Shed: You can also listen to The Site Shed on Apple Podcasts, Spotify, and Stitcher.

Thank you for tuning in! 

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The Site Shed | Listen Notes


The Site Shed is one of the best online communities and podcasts for tradies out there. The free content provided to members is unbelievable - offering invaluable advice to run a successful business, and the community of tradies is truly awesome. Do yourself a favour and check it out.

Peter Cox Business Man

Great work Matt with all the podcasts and the site shed facebook community group. The amount of information that you can learn for free in this space is unbelieveable. It's great to see like minded contractors and trades trying to improve their businesses and also share ideas and help others. Highly recommend. Thanks!

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I have been listening to the pod casts for a few months now, I can't get enough of all the awesome content that you guys provide. Especially when you guys deliver it from a trade perspective which helps out a lot. Keep up the good work and hopefully one day I can afford one of the trade training trips.

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I own a construction company,and i love learning how to make my bussiness more competitive,profitable and how to better serve my clients. The site shed is a wonderful place to get invaluable knowledge no matter your trade .

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