Many businesses, particularly small-medium businesses, rely heavily on one or two key individuals for the business to operate.
These individuals are often the business owners and they may be reluctant to delegate control and decision making for a variety of reasons.
Whatever those reasons, the result is centralised decision making, knowledge and experience, which are not easily transferable in a business sale.
Ultimately, of course, that impacts business value – and not in a good way!
If you are an owner in this situation, one way forward is to proactively build a team which can operate without you – an experienced business advisor can help with this process.
Separating your business’ value proposition from yourself, or even making the business less dependent on you or a small number of family members, means the value is often more easily transferred to another party, potentially putting more dollars in your pocket and creating an easier transition process when it comes time to sell.
For a confidential discussion on strategies and approaches to maximising your business value and spreading roles and accountabilities in your business, contact the team at JPAbusiness on 02 6360 0360.
