There has never been a more important time here the statement “Cash is King” rings true. How will you go through to the end of FY21?

To navigate the ever challenging business (and life) uncertainties, it helps to get your business Game Ready. Being Game Ready means to maximise the opportunity when it arises, whether you’re selling, buying or merging.

Selling a business is a huge achievement, as only a few of the businesses marketed for sale actually sell. You’ve done very well to get this far… but what happens next?

It takes more than a discounted health-club membership to move the needle on employee well-being. But what does it actually take to improve employee wellness?

As soon as the NBIO (Non-Binding Indicative Offer) is signed, buyer(s) will start their Due Diligence Process, checking and testing the business in order to be satisfied that the business is worth the price they offered in the NBIO.

By now you will understand the gap, have a plan in place to bridge it and have provided buyers with enough information to answer their questions.  This enables any buyer to value the business, determine if they want to submit an offer and what they are prepared to pay.

When it comes to selling your business, preparing and sharing information is a frequently underestimated area in the process. There are generally two approaches to providing a potential buyer with information about your business.

Once we understand what a business is worth, what an owner wants (or, more often needs) from the sale and, the gap between the two numbers we can start to bridge this gap.

Let’s ‘Begin with the end in mind’ – a nod to one of Steven Covey’s Seven habits of highly effective people. You need to understand your goals and objectives, where you are going and what your success looks like, whilst identifying any gaps.

While there isn’t a one size fits all approach, at MSA we have used our experience to develop, EBITDA+ SIX STEPS TO SUCCESS – a methodology to maximise the sale of your business.

CEO of The Executive Connection, Stephanie Christopher, interviewed Graham Morgan on the importance of getting your business game ready.