Exit Planning to Make a Success of Succession
For most owners, selling their business represents a once-in-a-lifetime opportunity to realise the value of a lifetime's work.
We can work with you to create an exit strategy to prepare your business for a successful transfer - whether it is through an outright sale, a management buy-out or family succession - and guide you through the process.
It’s been estimated that 100,000 businesses fail each year due to the lack of a succession plan.
Here’s five widely accepted 'danger signals':
- Business set up for personal, ‘lifestyle’ goals, not strategic business objectives
- Poor business performance
- Over-reliance on owner’s specific knowledge which cannot be easily passed on to a successor
- lack of a suitable successor manager among employees or the owner’s family
- the absence of any (medium-term) plans for transfer.
And we've noticed a few more:
- An over-reliance on one customer
- Unrealistic price expectation
- Lack of acquirer due diligence
- Shareholder misalignment
- Lack of differentiation
If you see one of more of these in your business then contact us - but don't leave it too late.