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20 August 2023
Selling your business – a moment of liberation eagerly awaited by entrepreneurs and business owners. However, this journey isn't without its challenges. The recent seminar, "Is Your Business Sale Ready?", hosted by Roger Smith and David Trim from The Profit Club, along with Rodger Howie from Bayleys Business Brokers, delved into these intricacies with a goal to equip attendees for success.
In the ever-evolving business landscape, the event shed light on a critical truth: not all businesses are poised for a seamless sale. The dream of that freedom-filled retirement can quickly fade if your business isn't positioned for sale readiness. With a discerning pool of buyers seeking top-quality opportunities, merely having a business up for sale isn't enough; it needs to stand out.
Starting your sale preparation at least two years ahead of your desired sale date is strategic move that ensures your business is primed to attract the right buyers and secure a successful sale.
So, where does one begin? How do you ensure your business has the appeal it needs for a swift and profitable sale? The seminar had the answers, and attendees were in for a comprehensive 90-minute session that promised invaluable insights.
The event covered three pivotal areas:
1. Assessing Sale Readiness: Entrepreneurs gained insights into their business's current readiness for sale. An honest evaluation of strengths and areas needing improvement was the first step toward a successful sale.
2. Sidestepping Common Mistakes: With experience comes wisdom, and this section highlighted the top 10 mistakes often made when selling a business. Learning to navigate around these pitfalls can make or break a sale.
3. The 15-Step Blueprint: A roadmap was unveiled – 15 actionable steps that can transform a business into an irresistible proposition for potential buyers.
The seminar wasn't just about imparting knowledge; it was about setting attendees on a proactive path toward securing their future. The idea of waiting for years on end for a sale became a stark cautionary tale as attendees learned about businesses in Hawke’s Bay that have languished unsold for over four years.
The collaboration between The Hawke’s Bay Profit Club, Bayleys Business Brokers, and the Hawke’s Bay Chamber of Commerce showcased the power of collective expertise. The event truly illuminated the notion that "together, we can achieve more."
As attendees absorbed these insights, the narrative shifted. Selling a business isn't a distant aspiration; it's a reality that can be crafted with the right knowledge and action. The curtain fell on the event, but its impact lingers – inspiring business owners to embark on the journey to business freedom with clarity, confidence, and a well-crafted plan.
