There comes a time when most business owners start thinking about their exit…
And planning for a successful exit needs to happen well in advance.
But if you don’t have a plan in place to scale your business before an exit, what are the signs it’s time to get the ball rolling right now?
1. FLAT GROWTH CURVE. If you’re plateauing and can’t burst through to the next level of growth, you need a route to maximise your company’s value and to exit while the growth curve is steep.
2. FATIGUE. Running a business is hard work. If your heart is no longer in it, then leading and motivating others can be tough. Reduced energy and motivation makes an exit more appealing.
3. NICHE PROBLEMS. When your niche is disappearing, becoming saturated or is undergoing consolidation, it’s often the perfect time to optimise your business before an exit.
4. CAPITAL DEFICIENT. Do you need to fund the next level of growth, but are not having much success with traditional financing? Structuring an effective exit plan can bring the right partners into the mix to make that happen.
5. STAFF EXODUS. Not always an exodus, it can also be death by a thousand cuts. If retaining top talent is consistently a struggle, this will affect both your core business, but also its attractiveness to buyers. Get a workable growth and exit plan in place to turn things around.
6. TAX & RED TAPE. Changes in the tax and regulatory environment can quickly impact the viablity of your business. A smart growth and exit plan can enable you to navigate these waters if you’re out of your depth..
7. LIFE IS SHORT. Your circumstances change and so do your priorities. Your focus and energy might now be somewhere else, whether that’s family, putting your health first, or pursuing other exciting opportunites and ventures.
The decision to sell a business can feel complex, but the pathway to a successful exit should be straightforward – having a strong plan and strategic partners in place can make all the difference and stack the odds in your favour…
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