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Getting the most out of your business

22nd February 2018

Getting the most out of your business

At some point, and it may be many years in the future, your ownership of your business will come to an end. Whether it’s a planned or unplanned exit, your role as owner-manager will reach a conclusion. It’s one of the few certainties in running a business.

At any stage in your company’s evolution, you’re making two precious investments: your money and your time. One day in the future, you’ll no doubt want a return on that investment. You’ll want to take out of the business money to build your personal wealth and increase your security, and time to spend on other important things in your life (whether that means retirement, an exciting new business venture or another long-held ambition).

The things you focus on today will have a direct bearing on how successful that conclusion will be – namely, how attractive and valuable your business will be to potential buyers. The work you do now to boost the value of your business will ensure you get maximum value in the future. And, as a bonus, in the meantime, you’ll be owning a more profitable, successful business that’s easier to run.

What if you’re nowhere near ready to sell?

That’s fine. You don’t need to be actively looking to sell to start thinking about the value of your company. Boosting your business’s value is part of good exit planning – and exit planning is an important consideration at any stage of a business because it gives you greater control over your future.

Your objectives for owning and running a business will vary and what you want now may be very different to what you want in the future. Today, your focus may be on improving cash flow, winning new clients or maybe enjoying yourself by running a business that’s fulfilling. In the future,

whether that’s next year or two decades from now, your focus may change.

The point of exit planning and building the value of your business is to help prepare you for any scenarios or a change in circumstances or priorities in the future.

The seven benefits of exit planning and how you can boost the value of your business are explained in our free guide. Download your copy with our compliments at www.henchards.com/white-papers or email ian.parker@henchards.com to discuss a free consultation.