11 octobre 2022

Definition Exit Stage Right

Posted by under: Non classé .

Is it time for you to make that commitment, write your own script and create your own « release phase »? Today is a good day! « When should I start my exit planning? » This question usually arises when someone starts thinking about it, but prefers to kick the box in the street on another day (or a year) or two. They are committed to understanding not only what the company makes money, but also what creates value in the business. Daily. From the beginning, a company must « always be for sale ». Your exit planning is not an event. It`s your lifelong commitment to a solid business strategy and sustainability. It is your commitment to yourself and your family that you « take care of the business. » Most homeowners react by saying they`re not ready to go out today, which is exactly what I mean. They are not ready yet. What if something had happened today that forced you to sell the company? Would your business be ready to enter the market? Could someone else step in directly and execute it? Would it attract the best price the market could offer at that time? If you are a business owner, it is 100% guaranteed that you will leave your business at any time. Some entrepreneurs create the conditions for a horizontal exit. In fact, « exit » is a four-letter word.

They have no intention of leaving their business, let alone cede control to someone else. However, most entrepreneurs prefer a better approach. They want to « leave the stage properly. » The term « Exit Stage Right » comes from theater scripts. This is the way the playwright gives a character clear instructions to leave the stage. Some define it as « Leaving or disappearing in a calm and non-dramatic way and making way for more interesting events » or as « An orderly and uneventful departure programmed so as not to distract or distract ». In my experience, this is exactly what most entrepreneurs want. « How » do you leave a company? The answer is an unwavering « It depends. » This is a personal decision for an owner. Period. You can involve your business partner, spouse, and/or family in conversations, but ultimately it comes down to what you want and need. Topics such as legacy, community, employees, customers, next-generation opportunities, and money are just the tip of the iceberg. You should balance these problems with what you can afford. What comes next in your life goes into your alternatives and your optimal exit plan.

Exit Stage Right is a live album by the band A, released in 2000 on London Records. It reached #3 on the UK Independent Charts. The track is a parody of Rush`s live album exit. Scene on the left. [Related: An Unsolicited Offer to Purchase: Is It Time?] There are no cookie-cutter answers. Understand and explore all options with the support of an experienced team. Only then can you create the « how » that best suits your needs. Doubtful.

This is especially true if the company is too dependent on you or an individual customer or supplier. Who has all the important relationships? Who makes all the decisions? Is the understanding of how things are done between a single sentence of ears? If this is the case when you leave, the value of your business also increases. Potential buyers will leave faster than they go through the Starbucks drive-through for a caramel latte. [Related: Sculpture of a Strong and Stable Leadership Identity] That`s what it is. The money remains on the table, provided the business can be sold. It is a fire drill. People get hurt at a time when there`s probably already enough stress in life. We all understand that you never know when one of these demons will call. Smart homeowners are preparing for it.

Martha Sullivan brings years of experience in growing and strengthening private companies. By mixing senior leadership roles (CFO and COO) in the industry with public accounting and consulting activities over the years, Martha is now dedicated to helping business owners buy/create, build and sell their businesses in a way that helps them achieve their personal, financial and professional goals. She founded Provenance Hill Consulting, LLC, a consulting firm specializing in this purpose. Read more Martha Sullivan`s career has gone through many curves, from an aspiring information systems graduate to consulting at a CPA firm to positions as controller and CFO, and then back on the board. She has always been committed to helping others achieve their goals. [Related: Back to basics: Do you know your mission and vision?] However, big questions are at the forefront. « How do I do it? » and « When should I start? » are the two questions I hear most often. About half of all business transitions are forced. One of the « five Ds » – death, disability, divorce, disagreement or distress – strikes and control over the timing of the transition is lost.

Then there is no luxury of taking the time to fix the business and get the best dollars.

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