By Sankeetha Selvarajah
Today's issue is brought to you by Zensei LLC. We help high achieving entrepreneurs get clear on their growth by planning their exits in a mindful, systematic process. If you're an entrepreneur who is looking to exit and scale in a way that fits your lifestyle, sign up for our Zensei Group Accelerator with our discovery call here.
Exit Litmus test #1. (2024)*
Life and business are fluid concepts, Reader.
So are motivations.
What initially motivated you to begin this Exit journey might not be the same reason that propels you forward, today.
Here at Zensei, we recommend that every Exiter perform an Exit Litmus test every 6 months.
This week, let's re-weight your goals and exit plan for Spring 2024.
Here's the Test:
1. What is your definition of wealth?
- Optimal physical health?
- Mental peace and clarity?
- Leverage in business and life?
- Access to the fine dining, clothes, vehicles and material life?
- A strong shelter, furnished home to house you and your loved ones?
- A tight-knit community?
- Solid, fulfilling, relationships with your loved ones?
- Choices and independence?
- Time abundance?
- (Fill in your definition here)
Did you notice that Money ($) is surprisingly, NOT included in the definition of wealth?
Very often with Exiters, it is NOT part of the definition of a "rich life".
2. Does your current lifestyle align with your definition of wealth so that you live a "rich life" now? --- Yes or No?
3. WHY do you want to Exit your company? --- List as many reasons as you want.
4. Finally, how will your current Exit Plan fund and enhance your current, rich life? --- List as many reasons as you need.
What you should remember:
Your path to a ZENSEI exit is a RESULT of you living your best, RICH life now.
ONLY Action Step for this week:
- Do the Exit Litmus Test. Recalibrate as needed.
Sankeetha
*(Our next Exit Litmus test #2 will be in November 2024)
Exit Term: VALUATION METHOD #1 - BOOK VALUE
This is one of the types of Valuation Methods utilized by both Buyers and Sellers to determine the actual value of a company or asset.
Book value means "balance sheet" value. What's listed as the exact value on the balance sheet of the company. THIS valuation method is the most accepted valuation method...simply because numbers don't lie.
Ex: Lamps LLC had a book value of $5,000,000 but wanted to sell for $6,500,000. Blinds R Us, Inc., preferred to buy at the book value so paid $5,000,000 instead.
Whenever you’re aligned, here is the best way way we can help you:
1. Our Zensei 4 week Group Accelerator is now in waitlist for the next cohort in JUNE. At half the cost of an individual Exit Plan, this allows you and I to co-create a 2 year Exit Plan for 2024 and beyond. Taking a cohort maximum of 6. Every Exiter has a private, 2 hour Exit meeting with me at end of Program and a complimentary 30 day followup. Sign up for a free discovery call here to learn more.
2. Zensei Exit Membership. Sign up for a free discovery call here to learn more.
3. Do you want to scale your company faster by planning your exit? Apply for private, full exit planning for 2-4 years here.
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