Check your sales and profits meet ASX criteriaTo arrive at the correct solution, Business Owners must find out and not assume because they know the Family Members or their Business Partners they can work out the answers on their own.
Over 40 years Graham Connolly has concluded "No two Business Owners are the same because everyone has their own values and wishes for the future."
To find the correct solution for your business, we recommend you follow our proven program for each Succession choice as follows:
Continue to the next generation
- Hold a retreat which is a structured meeting with one or more generations (including spouses) after the concerns, wishes, aspirations have been identified from a one-to-one interview process
- Write a Constitution (finalised by your solicitor) that sets out the agreement between generations on a wide range of matters for the continuing success of the Business
Sell- Make sure your business is "sale or investment ready" (see Business Mentoring Solutions)
- Have in place a Company Plan and Strategic Plan
- Complete a Business Valuation
- Prepare an information Memorandum
- Don't negotiate the sale yourself
Management Buy Out (MBO)- Check you have a management structure which can carry on the business without you
- Ensure your Management and Corporate Governance standards are appropriate for the size of your business
- Make sure the MBO Team have the financial capacity to structure the MBO funding
- Complete an independent Business Valuation
- Prepare a document to record the transaction
- Arrange short/ long term funding
Capital Raising/ IPO- Check your sales and profits meet ASX criteria
- Consider the benefit of using the Newcastle or Bendigo Exchange to reduce costs
- Ensure you understand the costs involved
- Ensure you have Audited Financial Results for the last 3 years
- Understand the due diligence process and accountability that will be involved
- Prepare an Information Memorandum
- Obtain details of underwriters who understand your Industry
- Appoint a Business Advisor who can negotiate a Capital Raising/IPO on your behalf
- Don’t do it yourself
Liquidation
An area where we are not involved
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