Thinking about exiting your business?















Are you now thinking about exiting your business and realising the value of your asset after many years of trying to build it up?

Are you aware that most businesses sell for far less than should do?

Because the business is simply not ready for sale when the owner wants, or needs, to sell it. One thing is for sure You will sell or exit your business, it is just a matter of when. Like your house you will get a better price for it if it is good shape.

What we do: Help you maximise value and make the transition smooth

We help you prepare your business so that is ready for the new owner, reduce the risk to the new owner and maximise value to you. Sometimes the new owner(s) will be internal managers, family members or sometimes it will be a new outside owner.
 
Different owners will have different views on what they want to do with the business however most will not want to take over a business that has poor systems and a high degree of dependency on the existing owners.  


We help develop a smooth transition process for you and the new owner using our unique Succession Planning Program.

How we do it
  1. We help you prepare the organisation so that it is ready for the new owner to take over seamlessly. Reducing the dependency on you, the owner(s) is probably the most critical factor in increasing the value of your company. If the business relationships are built around the owner(s) this represents a large risk to the purchaser

  2. We develop a project plan with you including the legal and financial process  

  3. We identify and document the roles and functions of the existing owners have. One of the most revealing things is the understanding that the current owners may be fulfilling several roles which simply can not be filled by any one person. This is usually a legacy of building a business around the special skills sets of the business owner(s)

  4. In many cases the new owners are not the technical specialists and do not want to fill a technical role and will want to make sure there is sufficient technical skills within the organisation  

  5. In the case where there is a management buyout (or MBO) we assess the skills and capabilities of the successor(s) and other staff. We then identify best structure and roles that will be the platform for growth.  

  6. Where new outside owners are involved we will identify the critical success factors that are important to them and ensure the business address these.

  7. We then develop a recruitment plan for the new roles, as required using industry standard methodologies.

  8. We develop training and induction plans for individuals so that they are ready for any new roles and the transition process that will occur. The actual transition process can be very stressful if people are not prepared and communication is not clear.

  9. We assist in preparing the communications plan which involves all management, staff and suppliers and customers and other key stakeholders.

  10. Finally we organise with you the handover date and work alongside your accountant on attorney or solicitor

  11. In order to make sure the transition process is smooth we will mentor the new owner and any staff and act as sounding board and management assistance for a period following the take over to ensure they settle in well!
For enquiries on exit planning contact us at exitplan@progressivebusinessinternational.com

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Page: Business succession planning process, management - Last Updated: 30th August, 2010 | Site Map | Links