DOWNLOAD YOUR FREE E-BOOK: GROW YOUR BUSINESS WITH EXIT IN MIND

Executing a well-thought-out exit strategy can increase your sale price, while ensuring the business continues to thrive once sold.  

Whether you are looking to sell your business now or 10 years down the track, focusing on growth should be at the forefront of all business activities. To derive the most value out of your business, plan your exit strategy now with our free guide on how to grow your business with exit in mind.

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1. PREPARE FOR YOUR BUSINESS EXIT EARLY

Give yourself time to prepare for the business sale. The only constant in life is change and this applies to business as well.

The business exit process is a lengthy one, which means you should be preparing for your business sale at least 2 years prior to your desired date to sell. Ideally, we recommend preparing for your business exit around 5 to 10 years in advance.  

Just like executing any business plan, a rushed sales process will not result in the best outcomes. 

Most owners are referred only when they are ready to sell, however this is often far too late to be able to optimise the best sales outcome. Not only does this allow for time to implement recommendations but also provides opportunities to enhance value. Early planning and advice can increase your sale price considerably.

2. GET YOUR BUSINESS ON A LISTING DIRECTORY

Business directories have a vast volume of views, the more exposure you have the more opportunities you have for your prospective buyers to find you. The BUSINESSNAV listing directory will promote your business to people that are actively looking to buy a business. This could result in you receiving your ideal offer sooner than you expected. You can sign up to join the BUSINESSNAV listing directory here. 

If you’re ready to exit in the next 1-5 years, it is crucial to be on a directory – shows buyers your business is out there in the market and even if not, ready you might receive your ideal offer earlier than planned.    

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3. CONTINUE TO GROW YOUR BUSINESS EVEN IF YOU PLAN ON EXITING

Even if your business plan includes a quick exit, making a conscious effort to grow your business can increase the value of your business, and thus attract the attention of buyers in the first place.

Key aspects that you should focus on to foster business growth are finding out what works for you and utilise it, investing in your staff and company culture and analysing your competition.

Identifying what’s working for your business will allow you to reduce the amount of time spent on unproductive processes and reallocate them to areas where your return on investment (ROI) will be greater.

Building and investing in employees and culture will better equip your business for continued growth. Lastly, analysing your competition may not elicit immediate growth, however it can help you differentiate your business from competitors. Ultimately, identifying what works for your competitors can allow you to identify market gaps that could put your business in a unique position to reach those customers. 

4. THE IMPORTANCE OF FINANCIAL MANAGEMENT

Financial mismanagement is by far the slipperiest slope to business failure. Business expenses occur every day, and if you are clueless about your daily expenditures, you could find yourself lacking cash flow.

As businesses are frequently sold on a multiple of EBIT or EBITDA, buyers place considerable emphasis on the quality and reliability of the financial management systems.

At BUSINESSNAV, we can help can give you insight into cash flow that you never thought was possible with our in-house developed software and systems. Contact us to learn more. 

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5. Focus on Scalability

You need to invest in resources that will meet your current needs, with the ability to adapt to future needs as your business develops and changes. Fundamentally, business scalability is about capacity and capability; having the capacity to accommodate growth and the capabilities to implement growth.  

 

WANT HELP GROWING YOUR BUSINESS?

At BUSINESSNAV, we offer a range of business growth services to help our clients grow as fast and consistently as possible. We don’t aim to grow your business forever, we want to make your business so big that you no longer need our help. Take a look at our services below or contact us for more information.

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FINANCIAL SERVICES

Any business owner that wants to grow must understand that it can be a struggle crossing the no man’s land to get to the next stage of their business. Strategic financial planning is essential and BUSINESSNAV, your expert finance consultant it her to guide you through the growth process.

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DIGITAL MARKETING

A business would not exist without sales, and good sales results come from a solid, foundational digital marketing strategy. We call our digital marketing services “Revenue Performance Management”, as our team of marketing strategists are here to ensure that you are receiving quantifiable results.

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MERGERS AND ACQUISITIONS

Selling or acquiring a business can be a lengthy and deflating process. At BUSINESSNAV we aim to make that process as easy as possible while generating the best possible result for our client.

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PEAK PERFORMANCE MANAGEMENT

A business can’t run without the people that make it run. With our peak performance management service, we build your business up with great people and great culture. Contact us today to learn more about our Peak Performance Management Service.

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