Is there ever a right time?
If like most owners, you’ve devoted a large part of your life and resources to building your business…
When should you be thinking of an exit?
📈 PLAN TO EXIT
One of the biggest mistakes that business owners make is waiting too long to plan their exit. Successful exits need up to 36 months of preparation, if you haven’t done any groundwork. If you’re thinking about a potential exit in a few years’ time, the clock really is ticking.
📈 SCALE BEFORE YOU SELL
I’m not just talking higher turnover and profit. Scaling your business in the right way, can mean an exponentially higher valuation, when you come to exit. Not only that, but you’ll find there is more ‘buyer demand’ beyond a certain point.
📈 TURNAROUND FIRST
If there are parts of your business which are underperforming, then fixing them can increase the valuation. Yes, kind of obvious. But you want to include the turnaround as part of your exit plan and get support to accelerate the process, rather than burn a few extra few yeares. Life is short.
📈 GET YOUR HOUSE IN ORDER
From financial reporting to compliance, make sure your business is due diligence ready. Doing this only when you are ready to exit can easily add 6-12 months to the entire process.
📈 TEAM UP WITH SPECIALISTS
The stats are stark. Around nine out of ten businesses listed on the open market fail to sell. Those that do sell, have seldom been engineered to maximise the end valuation. Instead of going it alone, teaming up with strategic partners can make the difference between a SLOW, AVERAGE exit and an ACCELERATED, OPTIMISED exit.
Others would have you believe that exiting your business is just a financial transaction. That’s not true.
Which is why it’s important to do things properly from the start. And that means taking action up to 36 months before the exit itself.