A TAB UK insight inspired by TABcast with Dr Simon Brayshaw, Ben Hirst and Rena Crossley, hosted by Liam Prendergast
Exiting a business is one of the biggest decisions any business owner will ever make. Yet for many, it is something pushed aside until the final moment. In the latest TABcast episode, host Liam Prendergast sat down with Dr Simon Brayshaw, business owner Ben Hirst and leadership transformation expert Rena Crossley to explore what it really takes to plan and prepare for a successful business exit.
Their discussion brought together three different lenses: the technical, the personal and the leadership-focused. The result is a conversation that every business owner should listen to, whether an exit is on the horizon or still years away.
This article brings together their key insights, along with practical considerations for owners who want to build a business that is valuable, resilient and ready for the future.
One of the strongest messages to come from the conversation is that exit planning is not a task for “later.” It is a strategic discipline that should run throughout the life of your business. As Dr Simon Brayshaw highlighted, owners often underestimate both the timescale and the emotional demands of stepping back. Leaving it too late can reduce your options, lower the value of the business and significantly increase stress.
When you start early, you give yourself time. Time to shape your financials, time to strengthen your leadership team, time to make yourself less central to daily operations and time to build a business that can thrive without you.
Ben Hirst’s reflections as a business owner reinforce this point. When your future depends on a successful exit, you owe it to yourself to begin preparing long before you need to. Early planning allows you to be intentional, measured and clear about what you really want from the next phase of your life.
Although every business is unique, the guests identified several universal hallmarks of an exit-ready company. These elements do not simply support a smoother exit. They also make the business stronger in the present.
Buyers will always look beyond revenue and profit. They want consistency, clean accounts and a financial structure that is easy to understand. If your numbers need explaining, it introduces uncertainty. As Simon put it, transparency is the foundation of valuation.
Recurring revenue, or at least predictable revenue, also boosts confidence. It signals a stable business rather than one reliant on short bursts of activity or personal relationships held only by the owner.
Rena Crossley stressed that leadership readiness is often overlooked during exit planning, yet it is one of the most significant value drivers. A business that depends too heavily on its owner is difficult to sell and difficult to transfer.
Investing in the capability of your senior people gives buyers confidence that the business can run smoothly after you step back.
It also reduces your own workload in the final years before exit, which can be a welcome relief.
As Liam pointed out in the discussion, buyers want to know that the business is not held together by the owner’s memory. Processes should be written, shared and used. When your business runs consistently through systems rather than people, it becomes scalable, transferable and far more attractive.
A business with high customer retention, broad revenue streams and minimal reliance on one or two key clients is more resilient. It represents less risk for any future owner.
Culture rarely appears on a balance sheet, yet it plays a crucial role in how smoothly a business transitions. Rena highlighted that a healthy culture, rooted in clarity and shared purpose, can keep the team committed and stable as owners begin to step back.
A powerful thread in the conversation was the emotional and identity-driven side of preparing to leave your business.
Ben talked openly about the importance of understanding what you actually want from life after exit. Many owners spend years focused on their business and very little time thinking about what comes next. Without a personal vision, even a financially successful exit can feel disorientating.
For many founders, stepping back from decision making is challenging. Liam and Rena explored how leaders often struggle to trust others with responsibilities they have held for years.
Learning to let go does not happen overnight. It requires deliberate effort, consistent development of your team and a willingness to redefine your own role long before the exit itself.
Simon emphasised that business exits are rarely just commercial. They are personal milestones that often come with a mix of relief, excitement and uncertainty. Owners should expect this emotional complexity and prepare accordingly.
Working with a coach or a peer advisory board, such as TAB, can provide the space to talk about these feelings openly and make more grounded decisions as the exit approaches.
No matter where you are in your business journey, there are actions you can take today that will give you more choice and better outcomes later.
1. Step back from daily operations
Start delegating, documenting and empowering your team. Your business should be able to run without you long before you exit.
2. Strengthen financial structure and reporting
Clean up your numbers, simplify your accounts and build predictability where possible. This reduces risk for buyers and increases value.
3. Develop future leaders
Identify who could run the business in your absence. Invest in their leadership skills, confidence and decision-making capability.
4. Review your client base
Aim for diversification and consistent delivery. Strong retention sends a clear message about reliability.
5. Clarify your long-term goals
Are you aiming for a trade sale, a management buyout, a family succession or something else entirely? Your strategy and preparation will look very different depending on your preferred route.
6. Seek external perspective
In the TABcast conversation, all three guests recognised the importance of non-judgmental, experienced external support. A TAB board, coach or advisor can help you see blind spots, strengthen your decisions and prepare your business and your mindset for the future.
A successful business exit is not simply about the day you sell. It is about creating a business that is valuable, dependable and capable of thriving without you. It is about preparing yourself for the next chapter as much as preparing the business for the next owner.
Dr Simon Brayshaw, Ben Hirst and Rena Crossley offered a clear message throughout their conversation with Liam Prendergast. The earlier you start, the more choice you have and the more value you create.
Whether you plan to exit in two years or twenty, now is the time to start shaping the future you want. And if you want support, challenge and clarity along the way, that is exactly what TAB exists to provide.