Elite Exit: Season 3 Episode 2:  Preparing for a Profitable Business Transition in 2024 This business owner transition podcast focuses on how to properly navigate the process of exiting a business.

Host Mike Quinlan talks with guests Rob Swartwood (https://www.consiliumls.com) and John Marsh (https://www.mcreek.com), about their experiences with business deals in 2023, lessons learned and what to expect in 2024. The conversation covers the importance of top line growth, the necessity to handle and present financial statements effectively, understanding and tracking revenue trends, and the significance of preparing ahead for due diligence. They suggest that proper preparation, diversifying revenue streams, and a strong client base could increase the business's value in the market. The overall message emphasizes taking proactive steps for better business and maximizing transaction value at the time of sale.

00:01 Introduction to the Business Owner Transition Podcast Part Two of Conversation with Rob Swartwood and John Marsh.

00:55 Importance of Top Line Growth in Business

01:07 Articulating Business Growth and Vision 01:37 Understanding the Story of Your Business

02:01 The Impact of Declining Revenue Growth on Business Deals and Understanding the Concept of 'Retrade' in Business Deals

03:25 The Importance of Business Growth and Profitability.  Challenges in the Growth Component of Business Deals.  The Role of Risk in Business Deals.  The Impact of Revenue Decline on Business Deals. Understanding the Importance of Top Line Revenue Growth

08:54 The Role of Financial Statements in Business Deals

17:18 The Importance of Documenting Operations in Business

23:11 The Importance of Diversifying Revenue Streams and Client Base

27:12 Outlook for 2024 and the Importance of Preparation

31:03 Conclusion and Final Thoughts