For many of us our business is a major part of our lives. It is where we spend more time than anywhere else and into which we have poured our own money and emotions. It’s one of the top 3 investments of our lives.
Leaving can be very hard. Yet, done well, it can be a rewarding and successful experience.
There are three critical aspects to consider.
1. The best return on your investment
Your business has been a huge investment and when you leave it is important that you make as much money as you can from it. Money is your reward for all the blood, sweat and tears. Money to then enjoy the other things you want to do in life.
To maximise your money we need a plan focused on increasing the business’s value and its ability to run without you. That’s what other people are paying for.
2. A smooth transition
Inevitably as new owners take over there will be a handover period. How well this is planned and executed will have a major impact on how easy and pain-free the handover is.
Otherwise it can be tainted by frustration, recriminations and in the worst cases, a cancellation of the sale.
3. Creating a legacy
It is remarkably common for business owners to want to leave a lasting and happy legacy.
They want to leave their own imprint on the future business and how they will be remembered – by staff, clients and suppliers. Often people they have been working with for years.
Visionary Advisors have been guiding business owners in successfully leaving their businesses for decades.