How To Make A Successful Business Exit

Selling your business is a monumental decision and requires careful consideration, as highlighted by the experiences of entrepreneurs Simon Squibb and Ben Doltis. Squibb’s successful sale of his agency, fluid design + marketing, to PwC underscores the importance of preparation and keeping a business's financials transparent. Despite not actively seeking to sell, Squibb found that the opportunity presented by PwC was too good to pass up, largely due to the solid foundation he had built within his company. A crucial takeaway from his journey is the advice to sell when you are neither desperate nor in need, which positions you to negotiate better terms.

On the other hand, Ben Doltis emphasizes the significance of creating a strong, market-leading business rather than focusing on the sale from the start. By concentrating on unique selling points, customer satisfaction, and surrounding yourself with talented individuals, a business can naturally attract the right sale opportunities. Furthermore, Doltis advises on the readiness of a business for sale, highlighting common pitfalls like rushing into the market or having disorganized financial records that can jeopardize a deal.

The perspective from buyers, as shared by Gabriele Cipparrone of Apax Partners, brings to light the critical factors considered during acquisitions. Beyond the price, buyers evaluate the underlying value and potential for growth in a business, alongside the impact of external factors such as economic conditions and technological advancements. For sellers, maintaining dialogue with experienced investors who understand their sector can be invaluable.

For entrepreneurs contemplating the sale of their business, the blog post provides essential insights into the preparation, execution, and considerations needed to navigate such a significant transition smoothly. Understanding the motivations for selling, the prospects of the buyer and the market, and how to prepare one’s business for sale are all critical steps in achieving a successful outcome.

If you're on the verge of deciding whether to sell your business or looking for strategies to ensure its attractiveness to potential buyers, the original blog post is a must-read. It offers real-life examples, expert advice, and considerations that could make all the difference in hitting the mark with your business sale.