We are pleased to announce that we are once more partnering with Business Exit specialists Christine Nicholson – business mentor of the year 2020 – and Cliff Spolander from Business Optics, along with recently announced partner VFD Pro to create a new module – Business Saleability and Exit – to support business owners to maximise the value of their businesses at the time of sale.
All the modules and, more importantly, the content throughout the Risk Dashboard has been created and is being continuously developed in partnership with experts in their sector, and this is another example of collaboration in creating the ‘Business Saleability and Exit’ module.
Business Owners – “Have you prepared or planned how you will exit from your business?”
The importance of being fully prepared for exit should not be understated. This new module will allow business owners to begin thinking about this process and start to take steps to prepare for exit. The module focuses on areas such as:
- The business
- The owner
- Your personal financial situation
- Employee considerations
- Risk and compliance
This new module will provide business owners and their advisors with the business-critical management information needed to de-risk, highlight growth opportunities, increase equity value and make businesses exit-ready.
Neil Campbell, Commercial Director of Risk Dashboard advocates – “it is important, long before ‘sale’ decisions are made, that owners prepare their business for maximum return. This module will support owners in all aspects of preparing for sale. Our partnership creating this module will ensure a maximum return for the owners”.
Cliff Spolander from Business Optics comments; “quotes or remarks I often see”:
- “Well, it is just me and my laptop, the business is not worth anything to a buyer.”
- “I’m never going to sell; I will keep working for as long as I can.”
- “My business is too reliant upon me, only I can run the business. No one would buy it”
- “The business is too small to sell and it is not worth anything anyway.”
These are all fair comments but the problem here is that these owners are looking at their businesses in isolation and are forgetting about their personal and financial goals.
It is true that many smaller businesses will probably never sell but the owner will have to exit at some point, as we all will. The question is: ‘Do you want to maximise the return for all your hard work and time you have ploughed into the business or simply throw it away?’
I would hope that most will see the folly in investing and working in a business for many years just to see it disappear.
I would like to encourage you to start planning your exit from the business, no matter the size of your business, no matter what your plans or aspirations may be. Because exit planning is not just about selling your business, it is about exiting your business successfully – and by successfully, I mean ensuring all your business, personal and financial goals are met, providing you with choices and the opportunity to live the lifestyle to which you aspire.
Risk Dashboard provides real-time evidence based continuous analysis for improved reporting and decision making for accountants, business advisors and their clients.
To find out more about Risk Dashboard and how it supports business owners, book a free demo here today.
If you would like to know more about how Risk Dashboard can help your business, please contact Neil Campbell, Commercial Director at Risk Dashboard on info@riskdashboard.co.uk.
We look forward to hearing from you.