I know lots of business owners who wanted to sell up before Covid…
But after a bumpy ride, they decided to postpone their exit.
WHY?
Because they wanted to restore past levels of profitability and therefore make their business more attractive to potential buyers. But will that guarantee an ideal outcome?
Here’s a few things I’ve gleaned over time about successful exits VERSUS unsuccessful exits:
💼 IDENTIFY THE RIGHT BUYER UPFRONT. Get this wrong and you might leave money on the table, add time to the process, or worse still… not even reach the finish line.
💼 FOCUSED RUN-UP. Many established businesses need between 2-4 years to turnaround their business, grow it and scale up to a successful exit. It takes time to deliver on a robust plan and become exit-ready.
💼 PARTNER UP. Accelerating the time to exit and optimising your result requires the right kind of support and guidance, whether that’s from experienced investors or M&A specialists.
💼 LIFE AFTER EXIT. Did you know that decisive business owners have more successful exits than indecisive owners? A clear and compelling vision of your life beyond an exit, drives owners towards that goal. Uncertainty about the next chapter only drives dither and indecision – which never ends well.
Getting a few of these basic things right can accelerate your journey towards maximising the end valuation of your business AND making your business more sellable.
Both are equally important.