Businesses: 6% Will Close Without Selling (ATO)

In Australia, that equates to about 120,000 businesses a year that do not sell, with owners simply closing their doors.  Alarmingly, this statistic is rising due to the large amount of businesses that are not adequately prepared for the issues they will face when the time comes to leave.  They haven’t built their business as a valuable asset with a Business Selling Strategy.  Escaping these statistics is easier than you may think.

75% Have No Succession Plan

The 3 top reasons business owners like yourself state as why they haven’t implemented a formal exit strategy is because

• they’re so busy working ‘in’ their business, they’ve failed to take stock and spend time working ‘on’ their business;
• they think it’s too hard and allow seemingly more pressing everyday tasks to take priority, ultimately losing focus of the big picture for their business with a business selling strategy;
• they don’t see the immediate need, particularly if they feel it will be some years before they wish to retire from their business

The Number of Business Owner’s that will Leave Due to Unplanned Circumstances is 51%

Business owners always believe they will choose the time when they will leave…..but in doing so, they lose control when they overlook the 6 Succession Triggers and fail to understand that only 2 of these can be controlled.  The other 4 exit triggers will adversely affect them, impacting heavily on their financial outcome when they exit from their business.  It doesn’t have to be that way.

How Do You Escape and Overcome the Succession Statistics?

I can’t cover all the ways for you here in a short blog post, but I can share a lot more techniques in the books, and also in a FREE Webinar.  If you are serious about your business direction, have a goal for the way you see it developing as a valuable asset that you can one day sell, you can’t afford to miss the opportunity.  Sign up for the FREE Webinar to learn how! You can do this by emailing your interest to my office at support@ybsprofits.com  or  call 1300 499 225 or (03) 9584 5099 to book your place. The session will be on 21 June 2011 and they will run in two timeslots, 2pm or 7pm for 45 minutes each.

Here’s to Your Profitable Exit Strategy!

Leigh Riley