Building your business with succession or sellability in mind
When starting a business, one might not necessarily have in mind to sell the company once it takes off. Building a business takes a lot of dedication, work and commitment, and thinking about parting with something you have worked so hard for and dedicated so much time to, can be tough to muster. For other entrepreneurs or business owners, selling the business for a lump sum of money might be the end goal after all. Regardless of your standing on this, and no matter how far off it might seem, it is important to prepare for this stage from the start.
When starting a business venture, even if you have no intention of selling the business whatsoever, you should still aim at building the business like you will be selling it someday. Having this mindset in place when developing a business, will help to make it run more efficiently, as you will be able to keep a clear financial vision in mind, implement standard operational procedures and assess how your business is performing within its market. Viewing your business from an objective viewpoint of how an outside investor would look at it, can greatly benefit the integrity and value of your business even if you never sell your business.
A lot of work and commitment needs to take place whether you plan on developing your business more efficiently and paving the way for growth, or if you want to develop it to eventually sell your business to investors. Having a business growth plan mapped out, you would be able to carry out decisions more surely and clearly throughout the business operation and successfully grow it, or ultimately sell it.
Looking at growing or selling your business
When looking into your business from an objective stance, it might be overwhelming to view the current structure in which it operates and comparing it with structures that are necessary to sustain a bigger company. It’s normal to feel like not knowing where to begin, which matter to give priority to and what can be left at the very end of the list. However, by fragmenting things down and prioritising the crucial, it will start to seem quite different and more doable. Growing your company and driving more revenue does not necessarily mean having to multiply your workforce exponentially or expand the operational space.
Try our Sellability Score to Assess your Business
Whether you plan on selling your business for a lump sum, simply looking at liberating some of your time to focus on other things, or want to invest your energies in a new venture, by taking our simple Sellability Test, you can find how your business ranks in scalability. The brief survey is designed to specifically analyse how sellable your business is and can help you with designing a structure fit for sustaining company growth
How can we help you build your Business’ Value?
The first part of the process will be by answering our Business Value Builder questionnaire that will help us outline how scalable your business is and work on a strategy designed to address the issues that might be holding you back. Through this questionnaire, we can better understand the nature of your business and help you align a structure with strategic goals such as advising on Human Resource / Human Capital issues such as recruitment, roles and training; developing systems and processes to improve your business operations; solving taxation difficulties and financial advisory for raising capital or investments.
The questionnaire will be given a score over a hundred along with instructions aimed at helping you interpret and understand your results more clearly. Our advisors will then contact you to review your full report in details and plan the next steps accordingly.