What should you be asking yourself, well before you exit?
Company owners with the best answers to these 10 questions, tend to be closer to a successful exit than everyone else…
🟪 WHY ARE YOU SELLING? Sounds obvious, but understand your own motivation. This will ultimately guide you towards favourable exit terms which work best for you.
🟪 WHAT’S YOUR BUSINESS WORTH? Do your own homework as to a realistic valuation. Use data, not your bias.
🟪 HOW CAN YOU INCREASE THE VALUE? Understand what really drives the value of your business and plan well ahead.
🟪 WHEN SHOULD YOU SELL? This is not about timing the market, but fully grasping how long it actually takes to optimise your valuation.
🟪 WHO ARE THE RIGHT BUYERS? Achieving the maximum exit value, largely depends upon lining up the right buyers. You need to know who they are well in advance.
🟪 WHO WILL ADVISE YOU ON THIS JOURNEY? Work with partners who can optimise and accelerate each milestone towards your successful exit. Avoid leaving money on the table.
🟪 HAVE YOU ALREADY BEEN REPLACED? The business should not just function with you. It should be able to thrive without you.
🟪 HOW IS THE BUSINESS PERFORMING? It seems to be the exception rather than the norm, that KPIs measuring the really important things are defined and regularly tracked.
🟪 IS YOUR HOUSE IN ORDER? Don’t wait to be asked before getting all your documentation in place and be ready for due diligence.
🟪 WHAT’S YOUR PLAN AFTER YOU EXIT? Not just the transition period, but longer term. Still involved in the business on some level? New venture? Clarity will help with momentum.
#sme #business #ukbusiness #exitlaunchpad #M&A #mergers #acquisition