There, I said it.
You have been warned. The thing is, if you are building your consultancy, agency, or any other kind of professional service business, and you are building it just like (almost) everyone else, you are building it in a way that is more or less the exact opposite of what buyers are looking for.
Therefore, all that hard work, all those years of pouring your heart and soul into your company will go to waste. Most likely. Or, if you can sell your business, you will get a low price, and bad terms (get ready to stick around for years and face a tight earn-out).
Look, I get it. I did the same thing. We start these types of businesses not because we want a grand exit, but for the love of the sport. We’re experts building expert businesses. We’re not bankers trying to squeeze all the money we can get out of our creation.
But perhaps you are in your forties, fifties, or sixties, and perhaps you are ready for a change. Or maybe you want to secure your retirement, to buy that dream house, have security, support your kids, or all the above.
Unless.
Unless you make some transformational changes to your business. Watch the video to learn more.
Ask me how I know…
Long before I got into the business of helping small businesses grow, and long before I learnt about exits, M&A, etc, I built a few professional service firms with no exit in mind.
I was not able to exit my main business which I ran for 13 years, my brand consultancy, for the very same reasons.
These reasons I could not exit it, and why you won’t either, include:
1. The company is too dependent on you (for almost everything).
2. You sell too many things to too many clients, delivered in too many ways.
3. You’re positioned too generic.
4. You have too much business coming from 1-3 clients (RISK!)
5. You lack processes, systems, SOP’s (yes, the boring stuff!).
6. You lack recurring revenue.
7. ….and then some.
The ONLY way you will be able to sell your business at a high multiple, without having to get tied down for years through earn-outs etc. is to productize, standardize, and systematize your business (and get off the org-chart).
The good news? If you can spare another 2-5 years, you can re-build your company into a highly valuable company that you might be able to exit for eight figures. It is possible.
Watch the video, and if you want to build a high-value company that you can exit (either for holiday, or for good), I have the exact steps and tools for you, if you want help transforming your business.
To be clear, making the changes to you business can make the difference between not being able to sell your business, or to sell it at a low price with poor terms, and selling your professional service business for millions (ideally for eight-figures).
To get a free valuation, assessment, and some good advice, please click HERE and go ahead a book a call with me (or my team).
You can also pick up a free copy of my Exit Wealthy ebook by clicking on the image.
