Business Transition: Is Now the Time?

Do you really have to transition/exit your company right now?

 If one of the 5 D’s – Divorce, Death, Disagreement, Distress, Disability – is not right in front of you, perhaps the answer is no. 

Until that day is upon you, develop a plan to use this time to work on value growth opportunities. Use this time to grow your value. 

Taking time to develop and accomplish key-value enhancement work will provide you with the opportunity to harvest more wealth from the transition of your company when you are ready.  You will have the opportunity to reap the rewards of higher multiples, greater EBITDA growth, and possibly more cash at closing.  How?  By developing specific focused strategies and continuing to work on your business.

Forecasting your future EBITDA now post-Covid is going to be under the microscope and that will add to the risk factor and cause the environment to be much more buyer-friendly – so hold tight – but be active in working on your business. 

This is a great time to educate yourself even further on the Business Transition Planning process and Value Growth Strategies, both of which will provide you with the momentum you need to continue being in the driver’s seat of your business transition.  Stay in the driver’s seat so you are the one moving your company forward, increasing the value, profitability, sustainability, and legacy.

If growth through acquisition makes sense for your company in your value growth strategies, there may indeed be add-on opportunities to pursue. Consider them carefully, especially if your exit does not HAVE to be imminent.  What a great way to chart the course for your business!

Now is the time to truly re-evaluate and recommit to your Key Performance Indicators.

Look at them pre- and post-Covid, so you can demonstrate your strength and solid performance. 

If you do not have KPI’s in place, let’s develop some so again you can illustrate how you were leading your business through this time and not simply letting things happen.  It is truly about staying in the driver’s seat and piloting these uncharted waters versus being bounced around by the whirlwind of elements. 

Focus back to being the leader at the 70,000-foot view by staying true to your mission and values by keeping the vision of your business front and center. Be ready to readjust where you need to, but don’t lose sight of who you serve and why.

How do you dig out so you can be ready to transition when the time or opportunity is upon you?  Every decision you make today does affect your business into the future.

Pivot from being a Chief Everything Officer to the Chief Executive Officer of your business!

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