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Prepare for sale To prepare for the sale, you can increase the value of your business by documenting your business processes. This allows you to take the business owner out of the process but leave the buyers with key information that the business owner would have held. Often this information is not documented, but doing so can improve the prospects of your sale. Documentation should include your overall vision, along with details of strategy, sales, marketing, finance, HR, and your contingency and succession plans.


Market to sell Once you are prepared to sell, use a business broker to go to market, or conduct a management buyout. Work closely with the agent and be clear on what the end objective is, according to the exit strategy you have established. Be willing to pitch your business to a number of interested parties, and


choose the buyer who you feel best meets your objectives and who will protect your staff and legacy. With these steps, you will have built and executed a thorough exit strategy that ensures your legacy and successfully sets you up for your next great venture.


www.exit-planning.co.uk


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SEPTEMBER/OCTOBER 2016 insight 25


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