On this episode of The Flywheel Effect, Brent Sonnek-Schmelz and Matt Bernath discuss the concept of the "perfect exit" for business owners, particularly those in home services. They explore various exit strategies, including selling to family, employees, or external buyers. Matt emphasizes the importance of building a business that can function independently of the owner. This allows for more flexibility and options when the time comes to transition.

Matt shares examples of successful exits, highlighting one business owner who leveraged real estate investments to secure his financial future, creating options for his integration company. He contrasts this with an owner forced to sell due to health issues, underscoring the need for proactive planning. Brent and Matt agree that regardless of the chosen exit strategy, the key is to build a profitable, sustainable business with a strong team and consistent sales.

They also touch upon the psychological aspects of exiting a business, acknowledging the emotional attachment owners often have. They advise listeners to start planning early, build a trusted team and focus on creating a business that offers value to potential buyers. Brent and Matt stress the importance of having experienced advisors, such as attorneys and brokers, during the exit process.