Digital imagery and copy offers business almost unlimited scope to promote itself. Razor-sharp online images and fibre-optic networks capable of delivering high-definition material to millions of computers, tablets and smartphones have been game-changing, but the new landscape brings risk with it as well.
While many sellers think of the right partner only in terms of the quantitative – valuation – the softer, more intangible, qualitative factors have an important role to play. This is especially true if there is any additional deferred or contingent consideration (such as an earnout), and/or if you intend to stay with the business after the sale.
Livingstone London director Tom Phipps talks about the typical sale process, and how it comprises three key phases.
Implementing a considered pre-exit preparation programme can materially improve the probability of completing a company sale on the most attractive available terms within a desired timeframe.
When considering an exit, you should consider all options open to you, so that the best exit route can be selected. Selling the business to a strategic acquirer, while a popular choice, is not the only exit route.
Tom Phipps, a director at Livingstone London, considers the best reasons and timings for moving on.