A dignified, satisfying exit
This magazine has always prided itself on delivering a balanced mix of stories that generally fall under the three headings of inspiration, education and information.
This month we’re putting a little more emphasis on education, with articles covering risk management, raising capital, sustainable procurement, business culture and values – as well as Richard Conway’s excellent piece on how, and why, he stepped back from the operational side of his business. A move which he describes as both “liberating and rewarding”.
Taking that subject several steps further is our cover story this month on selling your business and succession strategies – a subject which, I am sure, is on the minds of many of the more experienced business owners out there.
I’m no expert on exiting a business. In my one and only business ownership experience, which lasted barely six years, despite our best attempts to find a buyer, the best exit option in the end proved to be simply shutting the doors and liquidating all the stock and plant.
However, for our cover story we do have plenty of expert opinion, and it’s our intention that you come away with some really useful advice that you can put into practice.
As the lyrics from the old 60s Neil Sedaka song go: “breaking up is hard to do”. The same can be said when parting company with your precious business.
You’ve been a slave to that place over many years, and it would be almost a crime to let it go for less than its maximum value. And to achieve that value there has to be an exit strategy – a succession plan that means the business and the people who rely on it for a living, are left in a strong position.
If this is what you’re facing over the next year or two (the exit process can take several years) we wish you every success. And please – engage a professional to help walk you through it.
We hope that one of the last functions this magazine can perform for you is to help you to exit your business with some dignity and satisfaction.
You’ve earned it.