Is it time to think differently about your business exit strategy?

Is it time to think differently about your business exit strategy?

If you own a profitable business that you’ve grown yourself and are pre-occupied on a day to day basis ensuring it runs smoothly, an exit strategy may be the last thing on your mind!

But take a moment to think about this. In Australia, 80% of private businesses are owned by baby boomers for whom the retirement years are just around the corner. Fewer of their children are interested in taking over family businesses; and those who are entrepreneurially minded often prefer to start their own.

Even if you’re not a baby boomer, the effects of globalisation and online competition are having a huge impact on business values that is more often than not negative.

And with statistics indicating that many businesses are actually put up for sale when the owner was least expecting it, it’s inevitable that one day – perhaps sooner, rather than later- you’ll need to exit your business.

Selling your business can be a really big decision...

Selling your business can be a really big decision...

…especially if you love what you do so much it actually doesn’t feel like work!

So why would you exit your business?

Perhaps your entrepreneurial spirit has kicked in and having built a great business you’re keen to move on and do it all over again. It might be that you’ve grown your business to a point it’s the right time for someone else to take over the reins and write the next chapter.

Maybe you need a complete change of direction and a business sale will afford you the opportunity to pursue another career.

And it might just be that you’ve been so successful you don’t need to work again, so you decide to reap the rewards of your hard work.

However, regardless of the reason for your business sale, building it has likely been hard work…

…and if you’re to be rewarded for the effort you’ve put in and for the risks you’ve taken, then it will pays to start thinking differently about your business exit strategy.

So, what’s the secret to a fast and profitable business sale?

So, what’s the secret to a fast and profitable business sale?

Unfortunately, making your business as profitable as possible does not necessarily mean you’ll achieve a faster sale or a higher price.

Don’t be one of the business owners who spends a lifetime of hard work building a business, only to find it’s not worth what they hoped when it was time to sell.

Or worse still, they can’t find a buyer at all and simply have to close the doors and walk away with nothing!

The secret to a fast and profitable business sale is to firstly build your business with an exit strategy in mind…

…and then when it comes time to sell, you really need make sure your business stands out from the crowd!

In a competitive marketplace, differentiation is everything

In a competitive marketplace, differentiation is everything

As the baby boomer generation rapidly moves towards retirement, more and more business owners will be looking to exit their businesses.

And with a glut of opportunities and fewer buyers in the market, the need to plan your business exit has never been more vital.

So how do you stand out from the crowd?

At Brilliant Businesses, we believe you should think about your business exit differently. Challenge the norm and take an unconventional approach which, if executed properly, will often give you a much better outcome.

In much the same way as Real Estate agents have positioned property sales as a highly specialised service best left to the professionals who have exclusive access to industry resources, property sales data and customer lists, business brokers have painted a similar picture for business sales.

They’ve held a monopoly in this area for a long time and it’s no wonder a business vendor felt there was no option but to choose one for their business sale.

But then along came the internet……and well informed buyers.

Traditional advertising is losing effectiveness

Traditional advertising is losing effectiveness

Let’s be honest – everyone looks for everything on line these days. Traditional advertising is losing effectiveness – rapidly – and it’s the digital disruptors that are making headlines.

The real estate profession is now under serious threat from the new tech savvy entrepreneurs that are providing DIY solutions for property owners to sell their properties at fraction of the cost of the commission traditionally paid to an agent.

A variety of cost effective package options are available and often these can be tailored to suit the specific needs of a vendor.

The resources that have traditionally been kept a closely-guarded secret by the real estate agents become readily accessible and their buyer lists are no longer a competitive advantage.

The playing field is suddenly far more level and vendors have been quick to adopt the new approach, saving thousands of dollars in the process.

Digital disruption is great news for everyone

Digital disruption is great news for everyone

Business sales, though lagging behind the real estate industry, are following this lead, with an increasing number of listing websites and DIY options hitting the market.

This digital disruption is great news for everyone – except for the traditional business brokers of course who are now frantically trying to regain lost ground.

But here’s the thing – even those who adopt an on-line approach of some sort, whether it be a fully managed, a DIY service or a combination of the two, are missing out on a huge opportunity.

In a competitive market place, differentiation is everything. And the key to differentiation is marketing, specifically digital marketing.

And that is seriously lacking in the business broking industry.

Are you ready to stand out from the crowd?

Are you ready to stand out from the crowd?

If you’re ready to think differently about your business exit strategy, Brilliant Businesses can help you stand out from the crowd.

We begin by building a superb For Sale website that communicates the value of all your hard work to potential buyers. This website is specific to your business and you’re not in competition with hundreds of other listings

And then we use the power of storytelling and digital marketing, to proactively put your business in front of thousands of potential buyers. That’s really smart. The result is instant and far reaching exposure – even attracting people who are not actively looking to buy a business.

Enquiries follow. Enquiries from prospects who have already been targeted as having a potential interest in your business. They’ve read your For Sale website and are eager to learn more.

And when there are keen prospects showing interest, our brokers can negotiate on your behalf to solicit offers and help you exit sooner…

… and achieve the best possible price

Thinking differently about your business exit strategy really can give you an unfair advantage.