Getting ready to exit your business?
Marcus Wolfgram • February 22, 2020
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When you sell up, you want your business to have as much inherent value as possible – so you get a good price, a great return on your investment and the best possible payout.
So, how do you take yourself ‘out of the business’ as the founder, add the best value and set up an effective and financially beneficial exit strategy?
Adding value to the company
Whether the goal of your five-year plan is an acquisition by a larger corporate, or selling your share of the company to a chosen successor, it’s critically important to focus on adding value.
The more attractive the business looks in the market, the better the price you’ll achieve, or the better the yield you’ll see on selling your company shares.
To drive that value:
Work on the business, not in it – so you’re no longer a fundamental part of the day-to-day operations, and can focus on the higher-level strategic elements.
Invest in adding value – keep profits in the business, reduce your personal drawings and plough that money back into growth and investment.
Improve your financial health – by taking control of your finances and building a strong balance sheet, positive cashflow and attractive profit forecasts.
Have a proper exit strategy – with a plan that has agreed targets, so you can track and measure whether goals are hit, and a strategy your team can get behind.
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