There are four major stages in the life of your business. Here we discuss each, and outline the challenges and opportunities when preparing your business for sale or acquisition.
It seems obvious, but startup mode is tricky due to (often) owner inexperience and high emotional pressures to succeed. We’ve seen that it takes about three years to get out of this phase because- well building success takes time!
This is where we have the most fun- because it is here that when business owners know they want to sell, or buy a business, we can add the most value. Our greatest successes in adding value to your business happen here.
Using our friends at Interim Advisors we’re able to implement systems that are attractive to buyers and investors. We’re also able to assist should you want to expand your operations by buying another business.
Bad habits that we couldn’t prevent in “Growth” often stand out here- along with successful habits that are very attractive to a buyer when you wish to sell.
Lastly, transition phase is often where business owners elect to hire a traditional business broker to sell their business. They recognize they can’t live forever, they’ve built a good business, and maybe they don’t know a “next generation” to hand over the reigns.
We can help here, but typically the most value in change is met by high resistance from staff members.