5 Secret Tips That The Pros know in Business Exit Strategy
In Australia, 66% of business owners plan to use the sale of the business as their primary income source in retirement. Only 20 % of those businesses that list succeed in selling. More businesses are for sale every year.
The aim is to make yourself redundant.
Your business needs to be able to operate without you. You need to go from just being an Owner to becoming a Leader.
So learn to let go, discard things, and delegate to others and free your time and your mind.
Learn to clear your plate and trust in your team while you steer the ship and deliver on the business exit strategy.
Why is this important?
Simple, someone wants an investment, not a job. They can employ someone to run the company, and it will operate and grow while they do other things or enjoy a holiday. The owner isn’t essential and they can still get rewarded.
Get it wrong and your controlling and poorly planned ways will cost you and your Business Exit dearly.
5 Steps To Follow
Complete these 5 steps and realise a higher sale value. Get it wrong and your controlling and poorly planned ways will cost you and your Business Exit dearly!
- Define the job roles that you intend to delegate
- Use Behavioural analysis like Extended DiSC to assess your team’s behavioral attributes and identify who is the best fit for a role
- Identify the gaps between what you need and who you have. Match to your resources.
- Compare the role attributes with your prospects. Can they be upskilled, moved, and take-on other(s) roles?
- Take time to test and implement the transition…go on short holidays
Every process needs to be tested, measured, and adjusted – these roles are no different.
Behavioral Profiles
Use a tool like Extended DiSC to identify or position people with the right behavioral attributes for specific roles within a team or organisation.
Matched correctly people naturally perform well and expend little energy. If they are poorly matched it is a high energy task and things will not flow for them …so get things flowing.
Over my business life and years as a coach & consultant, I have seen many errors that these simple steps could have resolved.
For a complimentary consultation click Contact Gary – The Business Profit Accelerator