The Business Wealth Crisis is Here / by Kerri
The sellers’ window is here: 2013 – 2018. You can’t afford to wait to monetize the business you’ve built. Think about what you need to do now in your business:
“the difference between greatness and mediocrity, mediocrity and millions, spectacular and pathetic performance is how well you use your time, your opportunities, your efforts, your resources and your assets.”
“A calculated, adjustable exit strategy puts business owners in the ideal position to face the unexpected, whether the event is fortuitous, from a disagreement to a death or divorce, or providential such as an off market offer for the business.
An exit strategy enables business owners to take control of the selling process and ensure superfluous problems or delays are not encountered, which can reduce the price whcih a business can fetch.”
“A well developed exit strategy also allows you to maximize the value of the business by enabling you to address the drivers that impact the price of the sale and can manage the expectations of partners, colleagues and family.”
Joseph Bridger, Partner Corporate Transactions of Pitcher Partners
“A business that operates successfully and profitably without relying on the day-to-day efforts of the owner is something worth paying for.”
Paul Banister, Director of Tax for Grant Thornton Australia.
This process could take years and it does involve many components.
Just as your business can change, from the product mix, markets, marketing channels to management; so too can your exit strategy change. You need to review it and revise it as often as necessary, at least annually.