If you put your business for sale, when you want to exit, the chances that you get what you want for it are very slim. You should start planning your exit right at the start-up mode but no later than 3 years before you want to exit. The longer you wait the more disruption you will get in the sales’ process. Imagine how your people will react when they discover that you decided to sell your enterprise!
Here are five tips you should consider in an exit plan to be attractive to a potential buyer:
1. Create a clear strategic set of priorities and stick with them
List your company’s top priorities and incorporate these into a well defined strategic plan that clearly identifies your goals and the steps needed to attain them. Make sure that you effectively communicate these to senior management to ensure that everyone understands your objectives and expectations of their role in accomplishing the goals set.
2. Establish monthly reviews to ensure continuous and improved performance
Productivity is the cornerstone of business success and yet we often keep on doing things the same way, without considering how the processes we implement can be improved and streamlined. To make your business more productive and to stay on target, schedule regular reviews of your business strategy and practices.
3. Focus on your customers and engage them in your marketing activity
Is your business losing customers or has your customer base changed? Try re-segmenting your customer base and consistently tailoring your marketing to their evolving needs. Support this with a proactive, coordinated social media policy to help engage and transform relationships with your customers via shared dialogues.
4. Leverage the cloud to improve your cash flow
The ever increasing scope of cloud-based software and services provides the opportunity for your business to enhance its product offering and enable more efficient and cost effective methods of product delivery. Since these services are “on demand” solutions, they can be quickly and affordably incorporated into your operations without adversely affecting your cash flow.
5. Engage and motivate your people
People are your company’s biggest asset. Recruit people for their skills and aptitude to learn new skills; give them the opportunity to share their knowledge and work as part of a project team focused on lean process improvement and business strategy; encourage their active involvement so that they stay engaged and motivated to contribute to the overall success of the business.
Are you curious about how sellable your company is and what you would need to tweak to sell it when you’re ready? Then it’s time to get your Sellability Score via the questionnaire on our website. It is free, takes about thirteen minutes and your responses are kept confidential. Complete The sellability Score Test Now!
If you would want to know more on how to transition out of your business and would want to explore what you should do please do not hesitate to call Jean-Bertrand de Lartigue on +44 1656 766 363, e- mail him at email@example.com or visit our website The Exit Planning Company