Business Exit Strategy _
Exit Your Business The Right Way
While managing your business is always fun, preparing for the business exit stage is germane. This would ensure that there is a continuation of your business even after a long time. This stage is important for all the businesses that desire to create a long-lasting brand for themselves.
In this stage, there are different things that your focus should be on.
Selling The Business
Selling the business may be a great option to consider to continue the operation of your business. In this light, there are many options available to get this done. You can sell the business to external buyers, allow the business to be run under new management. You can also sell the business’ assets and shut the business. If it’s a family business, you can pass it on to the next generation.
We will take a brief look into each of this.
Sell The Business To External Buyers: You can sell your business to external buyers to realise maximum value for your business’ assets. There is much on strategic acquisition of a business that focuses on getting the unique assets of your business. Often, the buyer is someone with a commercial relationship with you.
In selling your business, there are numerous risks involved; this is why you should allow experts to handle everything for you. For us at An Hour Ago, we help a business get the maximum value in selling their businesses without risk and the usual courtroom tussle following a business sell out.
Passing Businesses To The Next Generation: Passing your business on to the next generation is another business exit strategy. The businesses that adopt this strategy are always family business that has been built with the contributions of many family members. In this light, the business’s transition is valued to ensure the continuity and existence of the family business.
This, however, can be very complex due to underlying family issues. This is why you need an independent business strategist like An Hour Ago to help you walk through this strategy in exiting your business. We have professionals that understand how to manage family grievances and equitable meet the family’s needs.
Run Your Business Under Management: This strategy is adopted if you still want to see your business is run, but not want to be the one in charge. Here, you transfer the operation of the business to new management.
This strategy allows you to retain your asset and have control over the business’ strategic directions. Without a doubt, this is a good strategy, but it comes with some complexities. This is why you need experts to handle it for you. An Hour Ago, we specialise in helping you transition your business to different management without any difficulty.
Sell Business’ Asset and Close Down: For this strategy, the business owner decides to put out the business assets for sale and subsequently close down the business. This is good if your business can boast of valuable assets- both tangible and intangible.
Nonetheless, it comes with its difficulties, as getting a real value for your assets may prove quite difficult. That is why we advise you to allow us to handle your asset sale and business close down as a strategic business exit option.