How Exit Ready is your business?

More than 15 employees?

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Value

Available values for Topic 1

Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score.

How long have you been running this particular business?*

Less than 5 years
5-10 years
More than 10 years

This field is required.

When are you planning on leaving your business (either sale, passing it on, or closing it down)?*

I want out in the next 12 months
Hopefully within 3-5 years
In more than 5 years
I'm never leaving my business

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Have you had your business valued in the last 2 years?*

Yes, I know what I could get for it
No, I’ve no idea what it might be worth

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Do you know how much you need your business to be worth enabling you to fund the next phase of your life?*

Yes
No
I’d have to guess

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How reliant are you on this business as a means to live once you retire?*

100% reliant
Not reliant at all
It’s a significant factor

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Owner Reliance

Available values for Topic 2

Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score.

Do you have a management team looking after the ‘day to day’ of your business?*

Yes
I have a team, but I'm still needed
No team yet

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Does your management team meet regularly at the same time and place, weekly?*

I don’t have a team
They meet, but it's not consistent
Yes, like clockwork

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How many employees do you have?*

Less than 15
15-100
More than 100

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What proportion of your working time is spent ‘in the business’ (running the day to day)?*

100% - I am fully in the business
About 50% of my time - I mainly focus the rest on strategy
None - My team runs the business

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If you left the business right now, how much would the profits and revenue be affected?*

They would plummet!
They would fall but not fatal
Nothing would change

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People

Available values for Topic 3

Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score.

If you have employees, do they all have an up-to-date and compliant contract of employment and employee handbook?*

I don’t have employees
No
Yes

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How would you describe the turnover rate and overall satisfaction level of your employees in the past year?*

I don't have employees
Low turnover, high satisfaction
Moderate turnover, mixed satisfaction
High turnover, low satisfaction

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Governance

Available values for Topic 4

Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score.

Do you have a strategic plan for your business?*

No, I take things as they come
Yes, vaguely but only I know what's in it
Yes, and I’ve shared it with my team

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Is your business fully compliant with Health and Safety laws?*

Yes!
No
I’m not sure!

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Are you completely up-to-date with your tax and legal obligations (i.e., PAYE, NIC, VAT, Corporation tax)?*

Yes
No
I’m not sure

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Do you have independent directors or advisors who give you honest and constructive feedback on the business?*

Yes
No
Not formally, but I have a sounding board

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Due Diligence

Available values for Topic 5

Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score.

Do you know what to expect during a Due Diligence process?*

Yes. I’m all over it
Nope - no idea
I have some idea

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Do you have 5 years of financial forecasts readily available?*

Yes
No
Not 5 years but more than 1 year

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Does your business have written processes for all your activities (SOPs)?*

Not right now
Some, but not all
Yes, we have those

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Is all your documentation gathered in one place?*

No
Some, but not all
Yes

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Final Details*

One final step before we email you through your PDF report which includes:

Your score...
Your key areas of improvement
Quick suggestions to improve each key area

Your personalised report will be emailed to you along with relevant tips supporting your score. View our Privacy Policy

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Identify the lowest topic number

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HIGHEST(N) ~> HIGHEST(2)
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Topic 1 Gap

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Topic 1 Yes Most Important

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Topic 2 Yes Most Important

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Topic 3 Yes Most Important

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Topic 4 Yes Most Important

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Topic 5 Yes Most Important

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General Feedback text for Overall score of 34-66%

General Feedback text for Overall score of 67-100%

Topic 1 Key Area of Improvement 1

ValueHaving a realistic idea of your business value means you’re prepared for offers, especially if they are unsolicited.Knowing your business value means you are less likely to leave money on the table.It also means you'll be able to get the protection you need to make sure your asset doesn't fade away.  If it’s under-priced you lose thousands (if not millions), if it’s overpriced you just won’t sell.Getting a third-party valuation gives you more confidence in your sale process by validating your offer to buyers. Sadly, most business owners have no idea how much their business is worth, and they never spend the time (or money) to find out.98% of business owners have never had their business valued.

Topic 1 Key Area of Improvement 2

ValueGetting a valuation report and business assessment is quick and easy (give us a call now to find out how). Having a realistic idea of your business value means you’re prepared for offers, especially if they are unsolicited.Knowing your business value means you are less likely to leave money on the table. It also means you'll be able to get the protection you need to make sure your asset doesn’t fade away.If it’s under-priced you lose thousands (if not millions), if it’s overpriced you just won’t sell.Getting a third-party valuation gives you more confidence in your sale process by validating your offer to buyers. Sadly, most business owners have no idea how much their business is worth, and they never spend the time (or money) to find out.98% of business owners have never had their business valued.

Topic 1 Key Area of Improvement 3

ValueCongratulations - you are in a much better place than over 98% of business owners. Having a realistic idea of your business value means you’re prepared for offers, especially if they are unsolicited.Knowing your business value means you are less likely to leave money on the table. You're also in a great position to take advantage of good timing and unsolicited offers.Having a third-party valuation gives you more confidence in your sale process by validating your offer to buyers. You are ahead of most business owners, who have no idea how much their business is worth, and they never spend the time (or money) to find out.98% of business owners have never had their business valued and are at risk of leaving money on the table in a sale.

Topic 2 Key Area of Improvement 1

Owner RelianceOne big truth in business, the more the owner works IN the business, the less the business is worth. A business that relies on the owner brings with it inherent risks for the next owner. A business that is autonomous is a more attractive investment.  What happens if something happens to you?  In most cases the business will be closed within 12 months.Part of being Exit Ready means the business is not dependant on the owner. Having a strategic plan which reduces reliance on the business owner adds huge value to the business.Side benefits are usually reduced business owner stress, great team coherence and improved efficiency and performance. Happy staff lead to happy customers, leading to greater profitability and easier customer retention.

Topic 2 Key Area of Improvement 2

Owner RelianceEvery business owner leaves their business one way or another.  A business that is autonomous is a more attractive investment because the next owner won’t need to worry about what happens if the owner disappears on a world cruise or worse (death, disability, disease etc). What will happen to your business if something happens to you tomorrow? Is it time to protect your business and yourself?Part of being Exit Ready means the business is not dependant on the owner. Having a strategic plan which reduces reliance on the business owner adds huge value to the business.Side benefits are usually reduced business owner stress, great team coherence and improved efficiency and performance. Happy staff lead to happy customers, leading to greater profitability and easier customer retention.

Topic 2 Key Area of Improvement 3

Owner RelianceCongratulations, you're heading the in the right direction to make sure that no matter what happens to you, your business will survive, thrive and be sellable.  Reducing owner reliance is hard work and can be an emotional journey.  You are adding value to your business and making it easier to sell on better terms. Your family and employees will all thank you for the work you've done.Part of being Exit Ready means the business is not dependant on the owner. Reducing reliance on the business owner adds huge value to the business. You’re probably seeing all the additional side benefits of reduced business owner stress, great team coherence and improved efficiency and performance.Happy staff lead to happy customers, leading to greater profitability and easier customer retention. WIN-WIN-WIN!

Topic 3 Key Area of Improvement 1

PeopleThis is where you have some work to do to add value to your business.  When employees understand the right things to do and when, your business becomes more valuable and profitable.When employees are given the chance to understand the business, they get the opportunity to make a positive impact for the business, and for themselves. Letting go is the hardest part of being a business owner. Within an autonomous business, the executive team has the responsibility and authority to make decisions. The best performing teams have the same mindset as an owner, and this is usually supported by appropriate incentives and engagement.The business directors and managers who operate a business as if it were their own make decisions for the long-term value of the business as well as the immediate profitability.Your succession plan is key to getting the right senior management team in place.

Topic 3 Key Area of Improvement 2

PeopleGetting the right people doing the right things is where magic happens and value is added.  Giving your employees the chance to understand the business means they get the opportunity to make a positive impact for the business, and for themselves. Letting go is the hardest part of being a business owner.Within an autonomous business, the executive team has the responsibility and authority to make decisions. The best performing teams have the same mindset as an owner, and this is usually supported by appropriate incentives and engagement.The business directors and managers who operate a business as if it were their own make decisions for the long-term value of the business as well as the immediate profitability.Your succession plan is key to getting the right senior management team in place.

Topic 3 Key Area of Improvement 3

PeopleYour people are your biggest asset and your biggest cost so it makes sense to look after them.  You scored great in this section which is. adding value to your business AND makes it easier to sell for better terms in the future.  Well Done.You are reaping the rewards of an executive team with the responsibility and authority to make decisions. The best performing teams have the same mindset as an owner, and this is supported by appropriate incentives and engagement.The business directors and managers who operate a business as if it were their own make decisions for the long-term value of the business as well as the immediate profitability.Your succession plan is key to getting the right senior management team in place.

Topic 4 Key Area of Improvement 1

GovernanceHow your business has behaved has an impact on your business value. A past littered with late payments, errors in statutory returns and fines for non-compliance is a sign of a disorgan<del>ize</del><ins>ise</ins>d business. It’s a visible clue as to what is hiding behind the closed doors of the business. Buyers see this as a risk and reduce the price they are willing to pay as a result or walk away altogether.During a sale process you are required to make declarations about the levels of compliance on all aspects of the company from taxes to health and safety.Any potential future liability arising because of past activity is usually covered in the Sale and Purchase Agreement in the form of warranties and indemnities.

Topic 4 Key Area of Improvement 2

GovernanceYou may find selling your business. more difficult.   Business governance has an impact on your business value.  Getting it right and keeping fully compliant reduces the risks to buyers, investors and lenders.  Buyers often reduce the price they are willing to pay because of finding out that everything hasn't been compliant in the past.During a sale process you are required to make declarations about the levels of compliance on all aspects of the company from taxes to health and safety.Any potential future liability arising because of past activity is usually covered in the Sale and Purchase Agreement in the form of warranties and indemnities.

Topic 4 Key Area of Improvement 3

GovernanceGood governance is like printing money - it adds value to the business when it comes to sell. Buyers see reduced risks in buying a well-run business.  Equally the terms on which you sell will be easier - which. means you can get on with enjoying your next phase of life with more money!During a sale process you are required to make declarations about the levels of compliance on all aspects of the company from taxes to health and safety.Any potential future liability arising because of past activity is usually covered in the Sale and Purchase Agreement in the form of warranties and indemnities.

Topic 5 Key Area of Improvement 1

Due DiligenceThe due diligence stage is the most difficult and stressful part of the process. This is when the buyer and their team get to look under the bonnet of your business. They are going to ask questions about everything in your business to enable them to understand your company and its operations, it’s strengths and weaknesses. Lack of preparation will reduce the value of your business and possibly lose your sale.Every due diligence process demands production of a comprehensive package of documentary evidence. All the documents are gathered into a data room which is accessed by the buyer under the supervision of the sellers’ lawyers and corporate brokers.Tracking all the documents, questions and answers becomes complicated very quickly and needs methodical and diligent management.

Topic 5 Key Area of Improvement 2

Topic 5 Key Area of Improvement 3

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Overall Total Number

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Overall Current Percentage

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E.g. Total of 6 questions is 4x6 = "24". Total of 8 questions is 4x8 = "32". etc

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Key Area(s) of Improvement Title