Have you given your future much thought?
Are you wondering if you’ll be able to sell your business?
Would you like to know how to increase the value of your business?
Do you want out?
The best time to think about your exit strategy is when you start your business! The next best time is now. As the author of ‘Seven habits of highly effective people’ Stephen Covey says ‘begin with the end in mind’. All too often businesses grow organically with no clear end point in place or even more often, no clear plan to get to that point and when the owner/s near retirement, there is a sudden panic of getting the business in a saleable state or a manageable state ‘from afar’ or less hands-on.
If you want to sell your business it is a lot more attractive to a buyer, and will, therefore, command a higher purchase price, if it is not reliant on you. A business sustainable without the owner is much more valuable than a business where you bring in the bulk of the revenue.
Should you want to step back and have the business give you a monthly income without working in it, the two vital things you will need to focus on are the people you bring on board and the systems you have in place.
We can help you think through what the best model for your business and exit is, what your succession plan needs to look like, what systems you need in place, how to get your business ‘due diligence’ ready and how to maximise the potential of it. Why wait any longer?
Contact James today