When inevitably looking to sell your agency, there is one question that is key to answer: how much is enough?
“If you’ve been running a business for a good amount of time, you’ve grown it, you’ve scaled it, and you’re now looking to exit, there’s always that temptation of, ‘But if I just stayed as I am for another year, and we kept growing at these revenue levels, I could get more’,” says Josh Butten, certified financial planner, and the director of boosst.
While it’s tempting, if you can plan and settle on an answer, it’ll make things much easier when it comes to the sale process.
In this session, Josh is on hand.
“Let’s figure out how much is enough for YOU,” he says. “How much money do you actually need for the rest of your life to achieve everything else you want to?”
“Ultimately, when you’re selling a business, it’s not just about what you receive in your bank account. It’s also what’s that process going to be like?”
We’ll be discussing:
- How to understand your financial goals and sales process. What does ‘enough’ look like for you – and the business?
- How to avoid greed – and sell at the right time. Sometimes pursuing a higher price can be futile, and can be a big gamble. What if you lose out on what your agency could be worth?
- How to practically approach and plan for sale. How should you budget for your dream lifestyle, considering everything from your bucket list to potential care needs in the future? Josh will also explore the emotional and practical aspects of selling your business, ensuring you’re prepared for the transition.
“We recently had a business sale where they needed £2m to do everything they could dream of. They had an offer of £4m – but, they could potentially get £6m.”
“We asked them, ‘How long might it take to get more?’ They replied, ‘A couple of years’. But if that didn’t work, the £4m offer would disappear. We told them to take the £4m. It was already more than they initially needed.”
Join us for this insightful session where Josh will help you navigate the complexities of selling your agency and ensuring you realistically achieve your personal and financial goals.