Is your Business ‘Sale Ready’ for when that day comes?
Business is on the up, your health is good, you are enjoying your business, right?
But what if:
=> The business takes a sudden downturn?
=> Your health diminishes? OR
=> You start to lose interest and drive?
Anyone of these can come as a bolt out of the blue – so you need to be prepared for when that day comes (preferably well before) !
Unfortunately, most business owners are simply too busy to set the time aside needed to get their businesses ready for acquisition and simply leave it too late.
It can result in a hurried sale, reduced value, add onerous conditions to the sale or failure to attract an acquirer – a fact reinforced by the depressing static that a staggering 90% of owner managed businesses fail to sell.
It can take years to get a business “sale ready”
Remember every part of your business will come under scrutiny by an acquirer, so you need to eliminate any perceived risks in order to attract buyers, increase value and make it an attractive, solid investment proposition to maximize your chances of selling.
By looking at your business objectively you will be able to systemize processes, get your house in order and iron out any issues which could otherwise mark down the value or detract buyers. It is much easier to achieve over a period of time and the process can only add value to your business.
I always advise owners to think and run their businesses with an exit in mind, even if it is not being remotely considered, so when and if that day comes they are ready to hit the “escape” button and start the sales process.
Remember the average sale process alone from start to completion can take over a year – that’s assuming there are no hitches along the way.
A long journey starts with a small step.
If you want to start thinking about getting your business in shape and getting it ready for that day, when it will inevitably come, get in touch.
As a former business owner I have first-hand experience after selling my own business and helping many others achieve the same. I will advise and support you on every aspect of your business sale journey from strategic planning to execution so letstalk@your-exit-strategy.co.uk
Hazi Mistry
#sellyourbusiness #exitstrategies #freeyourself #businesssale #divestment
