It is time to start planning your exist strategy for your business
Even if you’re not planning to exit for another 5 – 10 years, you’ll want to take a closer look at why you need to start planning now.
Let’s set the stage.
Here we are ̶ 70% of Canadian small businesses are owned by Baby Boomers and these businesses are going to transition from one generation to the next. Approximately $1.5 trillion will change hands in the next five to ten years. Baby Boomers are retiring at an alarming rate!
What does this mean for business owners like you?
Well, it’s a buyer’s market—yes, a buyer’s market, not a seller’s market. It means that there will be more businesses for sale in the next several years than potential buyers. Buyers will have multiple businesses to choose from in virtually every sector in Canada.
Now, imagine if two companies in the same sector were to go to market at the same time, say two plumbing companies in Vancouver. One business, the owner must make every decision, every day. He’s there at 8:00 a.m., and he leaves at 6:00 p.m. If the owner takes 2 weeks off, the business struggles to operate effectively. The other business has systems and processes, and the owner doesn’t need to be there every day to make decisions. If these two businesses come to market at the same time, which one is the buyer going to pick?
Clearly the one with processes, clearly the one with systems in place, clearly the one with a planned exit strategy. A planned exit is your goal now, and that’s exactly where the Pathway Value Driver method will take you.
Laying the foundation to prepare your company for sale can be tricky. It can be very messy and frustrating. I was told one time that it feels like walking over hot coals!
But it doesn’t have to be that way. Here’s what to do.
How would you like me to provide you with your own custom Exit Ready Blueprint – for free?
Having your own custom Exit Ready Blueprint takes that pressure off. If you follow it, you’ll understand your business, the marketplace, and the risk tolerances. You’ll know the pitfalls to avoid, and you’ll have an exit plan that lays out all the steps, so your business is sellable for top dollar!
What’s the catch? I know that a certain percentage of people I do this for will want me to build their systems for them; but rather than try to convince you of how great that would be, I figured I'd just demonstrate that I can help you by …actually helping you.
Ready to get started?
We’ll set a time for a 10-minute phone call so I can learn more about your business and answer any questions you may have. If we decide to work together, then we’ll arrange to meet again to begin creating your custom Exit Ready Blueprint.
Author - Joe Griffith
I've been consulting with clients since the 90's in various capacities. We have a saying in this industry – "You can't read the label from inside your own jar." And this is why we need to turn to someone outside of our business that has a fresh perspective and new insight. You simply can't do this for yourself. I am able to give you that perspective and a system that will deliver the results you really want.