Are you ready for what's next?
Getting ready to exit your business is not unlike preparing to sell your home. You want to maximize curb appeal by highlighting its best features and doing any necessary repairs and improvements. And the timing of the sale will be critical.
A recent study released by the Business Development Bank of Canada reveals that close to 60% of small and mid-sized business owners are aged 50 or older and 40% of entrepreneurs are likely to leave their businesses within the next five years. This demographic trend is leading to a mass exodus of entrepreneurs from business ownership, and the emergence of a “buyer’s market”. It’s more important than ever to ensure you and your business are prepared for the transition and well positioned to achieve your exit goals.
Where do you start?
Who will be your successor?
How much time will it take?
That's where we come in
Transitioning out of your business is a journey full of twist and turns, unexpected obstacles, speed bumps and potholes. As Navigators we help you design and travel successfully through your own unique exit pathway, much like a Harbour Pilot guides the world’s largest containerships in and out of port, safely and efficiently. As your Navigator we bring simplicity and efficiency to a complex process. We help to mitigate the stress and risks that are inherent with exit transitions, enabling you to stay focused on the daily affairs of running your business during the transition. A well coordinated exit plan will minimize the many costs of transition while protecting and maximizing the value of your business at sale.
There are a number of basic steps in any exit process:
The simplest route to the exit you want.
The exit process is a complex and disruptive journey. As your Navigator we:
1. Assess your state of readiness for the journey
2. Identify next steps and what’s required to move forward - plot your exit pathway
3. identify risks along the pathway and chart a course around them
4. advise on how to prepare you and your business for the transition - to arrive safely at your destination
5. Coordinate the input of experts and specialists as required.
We bring a combined 65 years of experience to our clients including business management, executive leadership and business consulting with advanced expertise in:
Business Strategy and Planning
Human Resource Management
Keep your future safe
Protect your time
find your successor