Why should I seek help with exit strategy planning?
This is a fair question and one we are often asked by owners. After all, you have a successful business and have overcome all manner of challenges in your business career. Why should you need help now?
Firstly, developing and executing an exit strategy will be a completely new challenge – for which nothing else that you have achieved up until this time will have prepared you. Most buyers look at a business in an objective, dispassionate and often highly critical way. They are looking for reasons that will justify making a low offer.
You need to be prepared to see your business in exactly the same way which requires a level of detachment, you may find this difficult. For you, the business is likely to be very personal – it has been a big part of your life. The whole experience has the potential to be very emotional - even traumatic – so a key part of the preparation for the owner is about learning how to see the business through the buyers’ eyes. Having someone on your team that you trust, who has experience and the ability to provide objective analysis is essential.
Lastly, since selling a business is something at which you may only get one shot, “learning on the job” is not a good idea.
The purpose of this guide is to help business owners get started with thinking about their exit strategy and provide an understanding of the path ahead.
Once you start thinking about selling your business there are two important questions to which you will want answers:
1) What is my business worth?
2) How long will it take to sell?
To help answer these questions, get in touch with your local partner who would be pleased to hear from you. Click here to find your local partner