Identify the Value of your Business
For those Business owners nearing exit, a big important life event, we are observing more and more knowledge of the demographics and circumstances around it. Barely a week goes by when a business owner does not approach us to say:
“I have about 18 months or 2 years before I would like to retire:
how can I best utilise my time and resources?”
What this represents is a much greater awareness among business owners of the need to prepare, not pray, for a successful exit. There are some high-value projects we came to so routinely recommend they formed our 21 steps program for exit readiness. We organised these 21 steps into 5 stages, all around maximising the value of the business.
The first in this series of stages focuses on what your business is worth.
Stage 1: Identify Value
- Step 1 Involves getting clear on your personal goals & outcomes. Business is so much easier to be in when it is working for you, as opposed to when you’re working for it.
- Step 2 Is collecting the facts from you personally and your business. Any journey starts with clearly defining where you currently are.
- Step 3 Is a top to bottom analysis of your business at a point in time. We go further than looking at the numbers (which we do a deep-dive on). We also assess the risks and opportunities that impact the value of the business. It’s all about harmonising the business’s future with your own, both personally and financially.
Ready to take the next steps? Discover Stage 2: Protect Value.