Business or Life Not Where you Would Like it to Be?
I cycle most weeks with my friend Paul – we both returned to cycling last year. Until recently I was definitely quicker on the hills. At the start of a hill Paul would often say ‘I will see you at the top’. We would compare average speed and I was normally one or two miles per hour faster than Paul. Well that was until last week! He is now nearly over two seconds faster than me and it’s not because I’ve become slower.
During our last ride, when I mentioned that I had noticed he had significantly improved, he said ‘my bike fit has really helped’. He continued to tell me that he had been to a specialist dealer for a complete review. They reviewed his riding position, his shoes, the position of his cleats, and the height of his saddle. They even electronically measured how he sits on the saddle and recommended he changed his saddle – which he did. It worked for him, he took some advice from the experts.
So how does this relate to business and life?
1. When we know something isn’t right, we must take time out to review it.
We need to review the situation, what can we change and what we can’t. Be clear on what you would like to achieve and where we would like to be.
2. Seek the advice of experts.
We don’t know what we don’t know. Seek out an adviser or coach who has the experience and the know-how to help you review your current situation, discuss your options, prepare a plan and help guide you through the journey. It can be a lonely road on your own.
3. We must be willing to listen to the advice and change.
A phrase I often quote is ‘if we do the same things we will achieve results’ which holds true if we are happy with the results and are achieving our goals. However, I regularly meet business owners who have been doing the same things for years and wonder why their business isn’t growing or the situation isn’t improving.
We must listen to the advice and be willing to change. If your business is under-performing or you are struggling to recruit good people, or having difficulty handling a certain situation, then seek out some support. Listen to the advice and try something different – not only will you be comforted by the fact that you have tried, but you might also be pleasantly surprised with the results.
Remember, my friend Paul sought some advice, listened to the recommendations and changed a few things. The changes weren’t huge but they definitely helped – he is now a lot faster and stronger than he was, and is ahead of me. I will certainly be having a bike fit in the next few weeks.
Maybe you could be achieving a lot more in your life, or elevating your business to the next level by recognising the need to seek some assistance from a trusted advisor, listening to the advice and be willing to change.
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FAQs – Selling your company
How do I sell my business?
At Entrepreneurs Hub, we talk about five key areas that make the difference between success and failure when selling your business. Read more…
How much can I sell my business for?
Determining your business’s value is more than just calculating a number it’s complex with key factors, that said the basic equation is actually quite simple. Read more…
How long does it take to sell my business?
The timeline varies depending on the complexity of the deal and how ready the business is for sale. On average, the process takes around twelve months – sometimes less, sometimes more.
While preparing your business for sale, Entrepreneurs Hub conducts in-depth research to identify potential acquirers. You’ll have the opportunity to review and approve this list before we make any approaches. Once the business is fully prepared – often the most time-consuming step, we begin marketing it. Typically, you’ll start seeing initial interest within a few months, with follow-up meetings happening shortly after.
As these meetings progress – coordinated and facilitated by Entrepreneurs Hub, you’ll begin receiving initial offers. At this stage, we’ll help you assess the strategic fit between your business and potential buyers. When you decide to move forward with an offer, an exclusivity period begins, during which the acquirer conducts Due Diligence (DD).
The DD phase typically lasts two to three months, depending on the complexity of your business. Once complete, the sale is finalised, and you’ve successfully sold your company.
How do I sell my business quickly?
Selling a business quickly is possible, but speed shouldn’t come at the expense of value or deal security Read more…
When is the best time to sell?
Selling your business is a major milestone, and the start of an exciting new chapter, whether that means new ventures or a well-earned retirement.
In our experience, the best time to sell is when you don’t need to – when your business is performing well – not necessarily tied to the calendar. That said, timing can still play a role.
Timing the Market
Strong economic conditions, sector growth, and buyer confidence boost valuations. Don’t wait for a “perfect” market – a well-prepared, well-performing business sells in any climate.
Plan Ahead (12–18 Months)
The best outcomes come from early planning: clean financials, solid forecasting and growth potential.
Spring & Autumn Are Active Periods
The M&A market is typically busier in spring and autumn while summer and winter tend to be slower due to holidays and year-end distractions. However, the unpredictability of deals and negotiations makes this hard to target. We do deals all throughout the year – the key is to work with someone who can keep driving the deal forward whenever it happens.
Financial Year- End
Selling your business well is a long process and aiming for your financial year-end milestone is a virtually impossible task. But it is worth bearing your financial year in mind as buyers will want to review the most up-to-date accounts available.
The best time to sell is when your business is ready, and you are too. With the right preparation and positioning the right timing follows naturally.
Can I sell my business online?
Yes, you absolutely can sell a business online. Many platforms specialise in connecting business sellers with buyers. Read more…