The world doesn’t seem to ever stop its constant flow of trends and chaos and breaking news, so it makes one wonder, when is the right time to step away and cruise towards the sunset? Aka what is your business Exit Strategy and when should you implement it..
Good news, you don’t typically have to time your ripcord to align with other world happenings if you are looking to sell your business, more often than not there are buyers always looking for the next great opportunity. So, if you were thinking that the Coronavirus may have pushed your exit strategy plans out a few years, it might be beneficial for you to connect with Proforma Partners to find out for certain.
Here are some thoughts and questions that you may find useful in planning when you ‘pull’ the cord on your Exit Strategy:
- Are you looking to exit your business in the next 1-4 years?
- What will your exit strategy look like?
- Will exiting your business cause problems in your day to day operations?
- Is the market strong enough for a profitable sale?
Sometimes the market can be a significant factor for selling a business, but as we saw during the Covid-19 Pandemic, many businesses were deemed essential and their numbers never took a hit, some even grew in terms of profits and sales. So yes, the market can make it tricky to decide, but when making that decision, ensure you have a trusted partner for every step along the way.
Proforma Partners has the knowledge and experience to help you answer those questions above and others you may have, all while getting yourself closer to wrapping things up as an owner of the business.
Give us a call or send over your contact information and we can begin your exit strategy today.