Today, my colleague and I spent time with a delightful business owner.
He’s an older chap who does not want to continue what he is doing.
Let me rephrase that, he does still actually love what he does but he’s got other things he also wants to do… and something has got to give.
As we moved through our very informative “exit strategy” discussion earlier today, so many opportunities presented themselves.
Bearing in mind the key consideration is that he wants out and/or he wants to be replaced and NOT take on any additional workload. So we had to refrain from getting too excited. Instead we had to come up with a way of honouring his needs and doing justice to what had been presented.
Solution = combine the two!
Create and develop one of the opportunities, in so doing, effectively replace the role he currently performs and added bonus – the profit goes directly to the bottomline as we go. All done in 6-12 months, thus enabling the owner to hop on his bike and ride out of there…
One very happy business owner left us later in the afternoon. Not only had he seen the light, he also had blinkers removed that he did not realise were there. I can only imagine the conversation tonight over the dinner table.
- Buyers Showing Interest Across a Range of Businesses; Hurst Partners
- you know there’s a shift when you’re advised of “acquisition” shopping requirements…
- The 7 reasons why Business Owners sell the business…
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