Baby Boomers. Could you be missing out on selling your business faster or for more money?
Like most business owners, when it comes time to sell your nest egg, you want to make sure that you can maximise your selling price and also speed up the time it takes to sell. You do not want to be way down the queue to sell and waiting for months just to get a prospect to take a look at your business.
It is interesting to note that in a recent Xero publication entitled "Success through Succession Planning", their survey found that 10% of Kiwi Business Owners would like to retire in the next year. They also found that a quarter of NZ business owners would reach their late 60’s within the next 10 years, meaning that there’ll be up to 90,000 business exits in that time.
Unfortunately, hardly any of these business owners surveyed had a succession plan and the businesses were simply not ‘sale-ready’ which means:
They are unlikely to get the best sale price for their businesses
· Their standard of living in retirement may suffer as a result
· The buyer may have a harder time making sure the business succeeds
Does this situation sound familiar? Are you concerned that you don’t have your business systems up to scratch or that you have not positioned your business to maximise your sales potential? If your answer is yes, you are not alone.
I know what this is like as in the past I have been involved with company’s who have not prepared their business for sale correctly and have not maximised their selling opportunity as a result. For a Business Owner looking to reap the reward for years of hard work, the result of a poor selling price can be quite devastating. It restricts the goals you have set for yourself in your retirement…travel, holiday home, money to help your family and so on…
Realising that things needed to be done differently, I set up a new company a couple of years ago specifically to assist owners get their businesses ‘sale-ready’ so as to maximise their sale opportunity. This company is called The Business Exit Company Ltd.
Using the Business Exit Co system, we put the 10 most important aspects of your business under the microscope and look to improve each offering so as to make your business more valuable and more attractive to prospective purchasers. These comprise, Organisational Structure, Administration, Operations, Sales and Marketing, H.R., Health and Safety, Finance, Technology and Governance.
In addition, as part of our programme we will document your primary business systems and procedures and make them available on-line for use by a new purchaser so when they step-in and start running the business. This alone can significantly improve the saleability of your business and reduce the time you need to spend in the business with the new owner once it has been sold.
Our proven system has helped Business Owners maximise their sales potential, improve their business efficiencies and get them further to the front of the queue to sell.
So, if you do have concerns that your business is not in the best shape to sell and that you may not get your best sale-price as a result, take this opportunity to book a free, no-obligation 15-minute phone call with us right here https://meetme.so/DeanRuscoe
Just find a time-slot that suits you and let’s have a chat to establish how we can help with getting your business ‘sale-ready’. We will also tell you the three important things you need to focus on right now to start to get your business sale-ready.
Schedule your own appointment right here. https://meetme.so/DeanRuscoe
Just pick a time that suits you and we will call you at your chosen time…it’s that easy.