Business or Life Not Where you Would Like it to Be?
I cycle most weeks with my friend Paul – we both returned to cycling last year. Until recently I was definitely quicker on the hills. At the start of a hill Paul would often say ‘I will see you at the top’. We would compare average speed and I was normally one or two miles per hour faster than Paul. Well that was until last week! He is now nearly over two seconds faster than me and it’s not because I’ve become slower.
During our last ride, when I mentioned that I had noticed he had significantly improved, he said ‘my bike fit has really helped’. He continued to tell me that he had been to a specialist dealer for a complete review. They reviewed his riding position, his shoes, the position of his cleats, and the height of his saddle. They even electronically measured how he sits on the saddle and recommended he changed his saddle – which he did. It worked for him, he took some advice from the experts.
So how does this relate to business and life?
1. When we know something isn’t right, we must take time out to review it.
We need to review the situation, what can we change and what we can’t. Be clear on what you would like to achieve and where we would like to be.
2. Seek the advice of experts.
We don’t know what we don’t know. Seek out an adviser or coach who has the experience and the know-how to help you review your current situation, discuss your options, prepare a plan and help guide you through the journey. It can be a lonely road on your own.
3. We must be willing to listen to the advice and change.
A phrase I often quote is ‘if we do the same things we will achieve results’ which holds true if we are happy with the results and are achieving our goals. However, I regularly meet business owners who have been doing the same things for years and wonder why their business isn’t growing or the situation isn’t improving.
We must listen to the advice and be willing to change. If your business is under-performing or you are struggling to recruit good people, or having difficulty handling a certain situation, then seek out some support. Listen to the advice and try something different – not only will you be comforted by the fact that you have tried, but you might also be pleasantly surprised with the results.
Remember, my friend Paul sought some advice, listened to the recommendations and changed a few things. The changes weren’t huge but they definitely helped – he is now a lot faster and stronger than he was, and is ahead of me. I will certainly be having a bike fit in the next few weeks.
Maybe you could be achieving a lot more in your life, or elevating your business to the next level by recognising the need to seek some assistance from a trusted advisor, listening to the advice and be willing to change.
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FAQs – Selling Your Company
How do I sell my business in the UK?
Selling a business in the UK typically involves preparing financial information, obtaining a valuation, identifying suitable buyers and negotiating the terms of a sale. Most owners work with an M&A adviser to manage the process confidentially, approach qualified buyers and maximise the value achieved.
At Entrepreneurs Hub, we talk about five key areas that make the difference between success and failure when selling your business. Read more…
What is my business worth?
A business is typically valued using a multiple of its profit, usually EBITDA or adjusted net profit. The multiple depends on factors such as growth potential, recurring revenue, customer diversification and management strength. Professional valuation provides a realistic price range and helps position the business effectively for buyers.
Determining your business’s value is more than just calculating a number it’s complex with key factors, that said the basic equation is actually quite simple. Read more…
How long does it take to sell a business?
Selling a business in the UK typically takes between six and nine months from preparation to completion. The timeline depends on business readiness, buyer demand and the complexity of due diligence. Early preparation and clear financial reporting can help shorten the process.
When is the best time to sell a business?
The best time to sell a business is when it is performing strongly, growth prospects are clear and you are not under pressure to sell.
Business owners often achieve the strongest outcomes when:
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Profits and revenue are growing
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Financial records are clear and well prepared
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There is visible future growth for buyers
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The owner has planned the sale 12–18 months in advance
Market conditions can also influence valuations. Strong buyer demand, sector growth and favourable economic conditions can increase acquisition activity, but a well-prepared business can attract interest in most markets.
Deal activity often increases during spring and autumn, although transactions complete throughout the year. In practice, preparation and business performance usually matter more than trying to perfectly time the market.
Ultimately, the best time to sell is when both the business and the owner are ready, with the company positioned to demonstrate strong value to potential buyers.
Do I need an adviser to sell my business?
Many business owners choose to work with an M&A adviser to manage the sale process. Advisers help value the business, approach qualified buyers confidentially and negotiate terms. This structured approach can increase the likelihood of achieving a higher value and a successful transaction.
How is confidentiality protected during a sale?
Confidentiality is protected through controlled information sharing, anonymous buyer approaches and strict non-disclosure agreements. Potential buyers receive limited information initially and must sign an NDA before any sensitive details are released. Business owners approve prospective buyers and maintain visibility over all documentation throughout the process.
How do I value my business before selling?
Valuing a business before selling usually involves analysing profitability, identifying valuation multiples and assessing key value drivers such as recurring revenue and customer concentration.
What’s the quickest way to sell a company?
Selling a business quickly is possible, but speed shouldn’t come at the expense of value or deal security Read more…
What’s the best way to sell a business online?
Yes, you absolutely can sell a business online. Many platforms specialise in connecting business sellers with buyers. Read more…