Succession Planning for you and your business is not an easy decision to make.
The decision to sell your business is an emotional one not purely commercial.
One of the most important things you can do to ensure you sell your business has nothing to do with how much you will receive for your business, but it has everything to do with your reasons for wanting to sell in the first place.
So, do you wish to know how ready you are to consider succession planning?
Start by answering this 10-part questionnaire:
Less than 20 points:
You are not in the right mind-set to consider succession planning. Leave it for now until you are in a better frame of mind. Come back to the questions in a year’s time.
20-29 points:
You are starting to think about succession planning and you are almost ready. Just repeat the quiz over the next six months’ and see how your score changes.
30-39 points:
You are ready to go onto the path of committing to looking at the options for succession planning. What needs to be done to find a buyer and maximise the chances of receiving an offer for your business.
40-50 points:
You need to seriously consider some proactive marketing of the business now to clarify your options. See if there is an interest and what type of offer you will receive. Is it realistic for your needs? Look at the answers where you scored a “B” or below. Do we need to look at these first?
What to do next?
Andrew Watkin has regular discussions with business owners who are considering succession planning but are not confident about where they are, what needs to be done and how to actively market the business to see if it is sellable and to whom.
Andrew Watkin can help you to identify the specific steps that you need to take to put you in a position to look further at succession planning.
So, contact him now by calling him on 07860 898452 or by email: awatkin@assyntcf.co.uk to discuss how he can help you decide that stepping away from your business is something you can do and move onto the next stage in your life.
Andrew Watkin
Andrew is the director of Assynt Corporate Finance Limited and an Accredited Member of the Association of Crowdfunding experts.
Previously a partner and head of corporate finance at Baker Watkin LLP, Andrew has more than 35 years of experience in all forms of corporate finance across many business sectors.
Andrew is also the Chair of Governors at a local school and an Assessor of Expeditions for THe Duke of Edinburgh’s Award.
You can find out more and connect with Andrew over on LinkedIn.
Need Help? Contact Andrew at Assynt:
If you are serious about selling your business, contact Andrew to arrange an informal chat, in person or over the telephone to assess the options open to you.
You can also contact Andrew by email at: awatkin@assyntcf.co.uk or by completing the form on this page.
Call today on 07860 898452
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