A dig­ni­fied, sat­is­fy­ing exit

NZ Business - - FROM THE EDITOR - Glenn H Baker edi­tor@nzbusiness.co.nz

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.

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