Date: 18th November - 31st October 2016
Time: 8:00am - 11:00am
Theme: Business Strategy, Open new markets & Export, Start a business
Sorry this event has already taken place - please see our forthcoming events list
Small business owners are often focused on the delivery, the here and now, but consideration needs to be given to what is the ultimate goal, what is the business going to achieve for the owner and ultimately what exit strategy does the owner need to work towards. The session outlines options for small businesses. It explores the pros and cons of exit models to include family succession, management buy outs, sale and wind up and outlines the top line strategy for each model.
Ultimately, every owner manager will hand over control of their business. Whether this is through a business sale to a third party or a managed succession plan, the process brings major risks and major opportunities.
First we’ll review the risks. In particular we’ll focus on the impact on operations, culture, customer perception that the removal of a key individual brings. We’ll look at how to build confidence in the business future through ensuring a clear structure and skill-set exists in the management team that will remain in the business and how to ensure the company’s brand and identity remain positive following the owner’s exit.
Second, we’ll consider the opportunities. We’ll look at the key attributes buyers want to see in a business they acquire, and how to maximise sale value by enhancing these. We’ll look at the importance of a track record of success, clear business metrics, and a defined strategy to give the buyer confidence that the business will grow. And we’ll look at how best to demonstrate these.
Third we’ll consider the options available for the business owner - for a whole range of reasons immediate sale might not be as attractive as a longer term withdrawal from the business. We’ll look at the pros and cons of each.
Finally, we’ll look at the sale process itself. How to target a buyer, how to ensure business continuity during the sale whilst retaining customer, staff and supplier loyalty.