REVEALED… 13 BUSINESS EXIT FAILURES
Businesses are historically not good at mastering their own exit strategy or navigating the sale process. They simply are not prepared mentally themselves or physically with the business requirements. Many stay trapped and have to walk away, close the doors of their business. It doesnt have to be this way!
Internationally there are a massive amount of business owners that will be looking to retire over the coming years.
In Canada, within the next 15 years, over half the small business owners will retire. In the US 12 million Baby boomers who own businesses will look to retire. In Australia, over 35% of small business owners are over 50. Collectively they control trillions of dollars.
If you are looking to Exit your Business then avoid these Failures:
Mistake 1# Failure to maintain confidentiality
Mistake 2# Failure to continue to run your business
Mistake 3# Failure to use proper negotiating techniques
Mistake 4# Failure to secure qualified buyers
Mistake 5# Failure to progress the deal
Mistake 6# Failure to place the proper value on your business
Mistake 7# Failure to properly structure the deal
Mistake 8# Failure to prepare due diligence
Mistake 9# Failure to market the sale
Mistake 10# Failure to get the right advisory team
Mistake 11# Failure to properly package your business
Mistake 12# Failure to control the Deal
Take notice of these mistakes and you will be well on the way to navigating through your Business Exit hurdles. Have these mistakes handled and make your Sale stick, attract the right buyers,and enjoy the next phase of life
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