How ready are you to scale and sell?
Answer these ten questions to find out...
1. Do you know how much money you need to be financially secure?
A I’ve never really thought about it
B I think I have a bit of an idea
C I know exactly what I want (and why)
​2. Do you know what your business is currently worth?
A Not really
B I could hazard a guess
C Yes, I had it valued recently
​3. Have you put a clear growth plan in place?
A No, I just take each day as it comes
B My plan is to focus on growing my sales
C Yes, I have a plan with goals and KPIs
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4. Do you produce management accounts to track performance?
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A What are management accounts?
B No, but I think I know where I’m at
C Yes, I rely on them to drive my business
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5. How well does your business use systems and processes right now?
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A Everyone does whatever works for them
B We have a few, but could do with more
C We rely heavily on systems and processes
6. Do you have staff you trust to delegate to?
A Not really - there’s no one I can rely on
B To a point, but I still need control
C Yes I delegate a lot of things
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7. How well do you hold yourself accountable and stay motivated?
A I struggle - things often slide
B I’m disciplined but motivation can dip
C I find it easy to focus and self motivate
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8. How do you decide whether your business can afford something?
A I generally just go with gut feeling
B I look at my bank balance first
C I rely on my cash flow forecasts
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​9. How much time do you spend on growth planning?
A Very little – I don’t really have time
B I do a bit, but I’m often too busy
C Most of my time is spent planning
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​10. Do you understand the personal tax issues around selling your business?
A No, I’ll figure it out later
B I know I’ll need to consider tax
C Yes, I factored tax into my planning
If your score was mainly As
Your business may be doing well, but you’re leaving far too much to chance. You'need to tighten up control across the board if you're serious about scaling up to sell. As your business grows, so do your risks, and if you’re not all over your numbers, you won’t even know you have a problem until it’s too late.
If your score was mainly Bs
You recognise the key things you need to control in order to scale and sell successfully, but you know this isn’t your area of expertise. Finding the time to concentrate on planning ahead is difficult with so much going on. You’re aware there are things you could be doing better, and that having support to help you is the best way forward.
If your score was mainly Cs
Congratulations! Your business is gearing up for sale in a structured, controlled way, and you stand a very good chance of reaching your exit goal. All the hard work you’re putting into the business is likely to pay off. But everyone benefits from a helping hand to keep on track. Having expert support will help you accelerate even faster.