Growth to exit: Accelerating your business’ next steps

In today’s ever changing business climate, it’s crucial to share and explore opportunities, best practices, and strategies to steer your business toward growth.

Determining the best way to increase your market share requires an insight into the ways a business can grow and prosper, a clear understanding of current market conditions, and a strategic plan for implementing any changes.

The first important decision to make is, would you prefer to grow your business organically through key areas such as your customers, employees, technology, finance, and diversification, or accelerate via acquisition?

Another vital consideration, no matter how far off it may seem, is your exit plan. A question we often hear from business owners is, “Should I sell my business?” The better question is, “When should I sell?” The timing is key. Selling involves both financial and emotional factors and requires careful planning – without a solid exit strategy, you may limit your options.

Failing to prepare can lead to aborted deals, a poor buyer fit, or a rushed sale that doesn’t maximise value. Even if you’re not ready to exit now, it’s never too early to get your business “sale ready.” This not only prepares you for the right opportunity but also strengthens your business in the intervening period.

When might the right moment to sell arrive? Consider these scenarios:

• You’re ready for a new chapter, whether retirement or a fresh business venture.
• The business has grown beyond your expertise, needing new management to take it to the next level.
• Market trends signal it’s a good time to act.
• A potentially lucrative opportunity presents itself.