Thinking Of Selling Your Business? Read This First
I was recently interviewed on camera at the offices of The Daily Telegraph in London. I was there for a Q&A session with the highly respected Business Reporter magazine, to discuss the issues facing business owners looking to sell or exit their company.
I’m used to speaking in front of business owners, but in front of a rolling camera, under those hot lights, things can be a little different. I don’t mind admitting I got a light grilling from the presenter. But then it’s his job to challenge his interviewees, and get across the right points to the audience.
Interestingly, watching it back, I noticed I used one important word time and again. The word isn’t acquire, or sell, or even valuation… it’s ‘rejuvenate’.
And that’s a point worth making repeatedly. Selling can rejuvenate all those involved in a business. Business owners are free to pursue new opportunities – or, if they stay with the business, contribute with new resolve and fewer distractions. Under the ownership of a new acquirer, the business can be driven forward, expanded, often in exciting directions.
This can have a morale-boosting and liberating effect on staff, who find themselves at the centre of new developments. And the acquirer, too, gets a boost – the challenge of taking a great idea and growing it.
As one serial acquirer of BCMS clients told us recently: “If I set out myself to build a company and develop a product like they did, I’d probably fall flat on my face. It’s not my skill set. My skill set is in maximising the business around the product.”
Maximising the business… From owner to staff and acquirer, the very best acquisitions are genuinely transformational. And, in that well-worn phrase, win-win-win situations.
You can watch the Business Reporter Q&A here - I’d love to know what you think.