I have just run a Barclays Let's Talk... Exit - Grow, Sell or Retire seminar in Warrington. Great audience although they went a bit quiet after we had finished discussing business valuations.
Bad News #1: The reality is that your business isn't worth what you thought it was worth.
Bad News #2: Roughly three-quarters of business owners expect to have a big pay-out when they sell their businesses... but roughly the same number don't have any plans in place for their exit strategy.
Bad News #3: The result is that the majority of business owners (as much as 75%, according to the research!!!) get next-to-nothing for their businesses when they retire!!!
But the good news is that you can start now and grow and create a saleable business. You just need to know what is that people are willing to pay for. And that is what we discussed and worked through.
Key questions covered:
- business valuation
- how to groom a business for growth
- how to sell the idea to your staff
- how to get more, better, customers
Inevitably we kept coming back to the Magic Million materials as well as the new 'Not To Do' lists!
Let's Talk... Exit - Grow, Sell or Retire - blog explaining the programme
How Do Venture Capitalists Evaluate Your Business Proposition? - blog
Time For a Sharp Exit - article about exit strategies
No more 'To Do' lists #4 - blog entry
No more 'To Do' lists #3 - blog entry
No more 'To Do' lists #2 - blog entry
No more 'To Do' lists #1 - blog entry