Christine Nicholson
An exit strategy is vital for any business, yet so many entrepreneurs don’t have one. In this episode, your podcast host Roger Knecht chats with multi-award-winning UK Business Mentor and author Christine Nicholson about the importance of building a business with an exit strategy in mind. They discuss various exit strategy options including and shockingly, … Read more
“Failure is the road you will travel to success; just be sure you take the correct exit.” Tim Fargo What is exit readiness? You might not be thinking of selling your business right now but there is a 100% guarantee that you will leave your business at some point in the future. The only … Read more
Who is the next leader? One of the most important aspects of choosing the next leader in your organization is understanding what you are looking for. If you are honest with yourself, you were probably not the best leader for your business once you got it past the initial startup phase. As businesses go through … Read more
Preparing for what’s next There are a multitude of websites and sources for preparing financially for retirement when you decide to leave your business. And if you’ve just sold your business, you’ve hopefully got the funds you need. How did you know what you needed? Did you sell with no onward commitments to the business? … Read more
“Your value will not be what you know; it will be what you share.” Ginni Rometty Valuation “98% of small business owners don’t know what their business is worth” according to IBIS World. With a significant number of business owners admitting their retirement wealth is tied up in their business, this is a shocking statistic. … Read more
No matter what your reasons for selling your business, finding a buyer requires a careful and strategic approach. Many sales processes never complete so choosing the right type of buyer is one of the critical steps. There are so many more options available to business owners these days. With new financial instruments and lenders, more … Read more
How easy would it be for you to just handover the keys to your business and walk away with your proceeds? Being exit ready is about how dependent the business is on the owner. There are other factors such as financial and corporate governance, product / intellectual property, and the business model. Separating the 3 … Read more
“Many small businesses would rather face an angry barbarian horde than tackle their cash flow statement.” Nicole Fende The Balance Sheet and the Profit and Loss Statement work in relation to each other to show the cash flow statement, which is the movement of cash in your business. Allow the Business Mentor UK to explain … Read more
Getting ready for exit is a big job and covers every aspect of the business. To keep focused on exit planning specifically, there are 7 key essential elements to being prepared. Profitability When a potential buyer looks to acquire another company, their view of profitability may be from a different perspective to the seller. All … Read more
Let’s use the analogy of a leaky tap, business owners bear with me unless you’re a plumber then you’ll be all over it! If 100 homes all had a dripping tap, there will be: These homeowners recognise that their time is valuable and to fix the tap it’s worth getting in the expertise AND fixing … Read more
