Do You Know Where You’re Going To?
By Nina Kaufman, Esq.Do you know where you’re going to? Do you like the things that life is showing you? Where are you going to? Do you know?
These are important philosophical questions. They’re also important business questions. (They’re also lyrics to the theme song from the classic film, Mahogany).
If you don’t know when you want to get out of your business, and how much you want for it when you leave, you may find you’ve worked yourself into a job from which you can’t escape. And worse, without a strong exit plan, you may be leaving a lot of the company’s value on the table.
Basil Peters is a Vancouver-based entrepreneur and author of the recently-released Early Exits [that is, exiting from your business, not life]. From his experience in selling a business, a well designed and executed exit strategy can easily increase the business valuation by 50%, and sometimes by 100%.
Those aren’t numbers to sneeze at. Read his article: “Exit Strategy–Selling A Business Can Increase Its Value by 50% or More.” Peters discusses how:
- Value is not always created linearly
- Value, like beauty, is in the eye of the acquirer
- It can help to have more than one bidder to reach the “right” value
- Business brokers can help enhance a company’s value
Have questions about working with Kaufman Business Law? This is the video to watch.
