Buyers pay for a documented history of value — not for your intentions at the closing table. The evidence is unambiguous: exit outcomes are determined by decisions made 3 to 10 years before a sale.
This is the exit funnel as the data shows it. Four sequential failure points. Each one avoidable with preparation that began years earlier.
Institutional buyers price what they can verify — not what you tell them. Documentation, recurring revenue, and owner-independence are the three levers that determine whether your multiple is 2.5× or 6.0×.
The decisions that determine your exit multiple are made long before any buyer appears. Grant Thornton calls it the foundational principle of modern M&A:
"Exit readiness begins the day after close — not six months before sale."
Every number traces to a primary institutional source. Click any i to surface the full APA citation. Hover every visualisation — the data responds.
The audit maps your entire infrastructure against institutional buyer standards — quantifies every gap in dollars, and gives you a ranked remediation roadmap. No consultant. No retainer. No sales call required to see your score.