Business Experience creates Local Author.
Business assets are being squandered.
Following the successful sale of his company retired
businessman Graham Watkins, 53, has written a book detailing the complexities
he encountered. When Graham and his wife sold their company, they had no idea
what would be involved.
Graham says, ‘after scouring libraries for good advice on
the subject and talking to professionals, we quickly realised there was very
little information available. The process of preparing the company and finding
the right buyer took over three years and was far more complex than we had
imagined. It involved an enormous
learning curve and could have easily ended in disaster. Selling for the right
price was important but we wanted to make sure the staff, who had always been
loyal, were looked after. We owed it to them.
The result was a transaction where everyone won.’
There are over 2 million private limited companies in the
UK, but many business owners spend years learning how to run and grow a
business, yet fail to plan how to sell up and exit. The cost can be significant
leaving owners unable to capitalise on their most valuable asset, the business,
and squandering years of hard work.
The answer, according to Graham Watkins is to write a
business plan that includes an ‘Exit Strategy’. He argues that effective
planning should start years before the owner intends to depart. In his book Exit Strategy Graham explains in plain
words what every business owner needs to do to make leaving their business a
profitable and enjoyable experience.
Planning, preparation, recruiting good intermediaries,
finding a quality buyer, negotiating the best price, dealing with accountants
and concerned staff and avoiding potential traps - issues that require careful
attention are all examined in Exit
Strategy. Plus the advantages and disadvantages of options such as
flotation, management buy out and straight sale of the business are explored.
‘It pays to start early’ says Graham ‘turning your business
into a golden nest egg that a buyer will pay a premium for, takes time and
starting your exit planning years in advance makes good commercial sense.
Ironically developing a sound exit plan actually makes a business easier to
operate.’
The experts agree, Dr Robert Hughes Jones, a Research
Director at Schlumberger Cambridge Research Ltd, says “Graham Watkins delivers
solutions to business problems you don’t even know exist. The knowledge he
shares in this book is worth thousands of pounds.”
Exit Strategy – A Practical Guide to selling your business, published by Discovered Authors
will be available from 14th August priced £12.99. Author’s website –
www.exit-strategy.org
ENDS
For further
information or for review copies of Exit
Strategy please contact:
Natalie
Matthews on 020 7529 3747 / natalie.matthews@bookforce.co.uk
NOTES TO EDITORS:
After training as a marine engineer,
Graham Watkins followed a successful career in sales and marketing until 1989
when he incorporated his own company distributing retail and catering
equipment. Graham has now retired and lives with his wife in a rambling
farmhouse in the Brecon Beacons.
Graham Watkins is able to adapt
excerpts from his book Exit Strategy
into short articles for publication. If you are interested in commissioning an
article from Graham please contact him through his website. There would be no
charge, but Graham would appreciate a credit for the article.
