I’ve been working with, speaking to and/or reading about a lot of business owners that are either about to sell their company or want to sell their company in the short-term. The challenge is that most of these companies don’t have an exit plan. Not having an exit plan typically means that some key aspects about getting to an exit haven’t been considered. Namely two factors are often overlooked. One being what’s required for an exit transaction to occur. And the second being when the exit transaction needs to happen.
NB I’m specifically speaking about an exit plan versus the exit transaction itself. In other words, I’m not speaking as to the structure of the transaction but about all the things you need to do well in advance of setting out to target and attract potential buyers.
Establishing an exit plan with a known horizon helps you chart a course for success. I’m hoping that through this blog, your comments and the ensuing discussion there will be insight and information useful to business owners wanting to exit in the future. And, that it will help business owners optimize the value of their business by planning for an exit ahead of time.
To provide some context on me (you can read a longer more formal version in the ABOUT section of this site):
My background is General Management/Sales/Marketing predominantly working within tech companies (some which I’d also founded). I’ve led or been involved with closing transactions with investors, acquirers, creditors and clients. I’ve worked in the hardware/embedded/software/Web space. I’ve experienced the highs and lows of the bubble bust, weathered one of the worst global economic implosions, lived in different countries and worked with private and public companies around the world. Some were national, some international, some Fortune 50 and some SMBs.
Regardless of the type of company, its business model, location or product, I’ve learned that there are a few things that stay constant no matter what. These constants are
that it’s always about:
- the people;
- having a plan;
- looking forward not back;
- knowing your numbers/metrics;
- understanding your customer AND delivering the required value proposition/solution.
Having said that, my goal is to help business owners implement practical approaches that consider ‘the constants’ listed above to get to an exit.
I hope to cover topics that are of interest and provide value; below I’ve included a broad list of what I’m expecting will be recurring themes. But I would welcome feedback about other topics that you feel would be useful in preparing for a future exit.
Current ‘theme’ short-list:
- Strategic Planning
- Building Value
- Sales & Marketing
- Innovation & Growth
Thanks for reading, I look forward to hearing your thoughts.