The winning formula to leaving your business in style

In the countdown to 2012 are you among the many business owners thinking about getting out of your business

According to Robert Burton, Corporate Finance Director of accountants Mazars there has been a significant increase recently in the number of enquiries from owners seeking to exit. While there could be many reasons for this upsurge, the one common feature is that the vast majority of owners have no real idea of how to prepare for the most important transaction of their life.

 The solution for a profitable business with a competitive advantage and strong business performance lies in having a robust five year strategic plan that focuses on grooming and preparing the business for sale.

The plan needs to include your rationale for wanting to sell, what type of seller you are going to be – and who you might sell to. Your then need to address the million dollar question of how much you want and how to bridge the gap between what your company is worth now – and what you need it to be worth in five years’ time to realise your dreams.

The quality and capabilities of your management team and your role in the business are two critical issues that must be addressed right at the outset. Ask any ex business owner what he or she would do differently that would positively influence the sale price and the vast majority would say having the right senior management team in place sooner and, at the same time, stepping back themselves to see if the team are up to the task. Getting these two key issues right will boost the sale value.

For more information on how to get the most out of your business and leave it in style, email  richard.bosworth@whatifspecialist.com, go to@richardwhatif on Twitter, Richard Bosworth on LinkedIn or www.whatifforums.com

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