I am sure you have had a client that you have been quite happy to lose or “set free” because they have been a PINTA client! (Pain IN The Arse)
Well this was not the case.
Geoff was a fantastic client, he was committed to doing the right thing and he had focused on building a profitable and valuable business and that is why the day he was no longer a client was a great day.
His business was acquired by another company. We had structured a great deal that worked well for him and for the company that bought the business.
Geoff, his accountant, financial planner and I all went to lunch at one of our favourite restaurants to celebrate his achievement.
This is what Geoff had to say:
“Getting into a business of your own, in my mind is relatively simple! Identify the business you want to be in, build a business case and present this to your bank, borrow some money and before you know it you are a business owner. Now I may have simplified this, but let me tell you something – “it is a lot easier to get into a business than it is to get out of one” and I’m speaking from experience! My one biggest tip for anyone considering selling their business is simple. Engage the services of Sam Harrop. Sam is the man when it comes to knowing the right way to go about selling your business and the mistakes that can be made. He will mentor, guide, strategise, do the hard talk, take the emotion out of the equation, set realistic values for the business and work his “bollocks off” to get the results that you as an owner deserve. So take my advice as a previous business owner who engaged Sam’s services, call Sam, you will not be disappointed in the outcome.”
Geoff Kendall, Former Director & Owner of Medtek Pty Ltd
This week
Realise that one day you are going to sell your business and the sooner you start to prepare your business for sale the better. Everything you do to improve the value of your business will benefit you while you are the owner and increases the chances that you will be able to achieve a better selling price in a shorter period of time.
You can get a complimentary copy of our book Small Business Big Exit by emailing office@samharrop.com.au and you can also listen to a podcast where I was interviewed by Tyson Franklin on how you can best prepare yourself and your business for sale. So you can sell your business when you want to not when you have to.