A Gradual Business Exit Makes Even More Sense Now
Starting the process of exiting your business now, makes sense for many business owners.
We are three and a half years down the track from the pandemic commencing and many business owners are still in a holding pattern. What is holding out until after the election going to achieve, when there are interested people looking now ?
The Perfect Time to Start
Now is the perfect time for a gradual exit through transitioning to a talented Business Partner with capital who can help grow your business as you exit over the next 2-4 years.
This person will acquire a percentage of your business at today's value and future tranches of equity at the value of the business at that time.
So Why is Now the Perfect Time to Start a Gradual Exit Process?
- You are not exiting 100% of your business at today’s value and will benefit further as the business grows
- You will ease back over this time and go down to one or two days a week – if that !
- There is a strongest pool of talented people with capital we have had for some time, ready now to buy-in over time
- Waiting is a guessing game as well as being stressful, and none of us has a crystal ball
If you were ready for a business exit before the pandemic, chances are your energy levels are not increasing and your succession need is not diminishing. You can start stepping back quicker than you think, reducing the time you spend both in and on the business and improving your wealth and lifestyle.
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About the Author
Mike Warmington is a Director of Platform 1 NZ Ltd. Platform 1 finds people with capability and capital for SME business owners wanting to transition and sets up a structure and governance for this to succeed.