Here are some of the most common scenarios we’ve been asked to address over the years, from a consulting perspective:
It All Depends On You – If the business can’t operate without you, no one else will buy it and you can never retire. Other employees must take on some of your critical responsibilities and others must be ‘back-filled’:
- Sales & Customer Relationships
- Strategic & Tactical Planning
- General Management
Revenue is Stable or Stuck – If revenue has not grown for 2+ years, you need to ‘kick-start’ growth and clear the hurdle blocking progress. ‘The GFC’ is no excuse in Australia.
“We Can’t Find Staff Who Can Sell” – No one will ever sell like the founder – she’s the expert, the boss, the owner and built the company! Unless supported by a sales process that sets them up to succeed, new sales staff won’t.
When Is The Right Time to Exit? – Waiting for the proverbial ‘knock on the door’ just guarantees it comes at the worst time and others control the process. You can decide when to move and drive the process to maximise your return.
Feast or Famine Cycles – Even those who know how to sell can lose sight of the pipeline when things get busy – and have none when quiet times come again – particularly if you’re too small for dedicated selling resources.
Death By Development – After a long and complex product development phase, it can be difficult to shift gears and become a seller of software, rather than moving directly into phase 2 (or 22) of development.