When is the right time to exit your financial planning business?

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Running a business takes passion and drive, not to mention a lot of blood, sweat and tears. It’s an incredible journey.

Which means exiting your business is one of the biggest decisions you’ll make – and timing is everything.

So, how do you know when it’s time to move on?

Unfortunately, there’s no simple answer.

But don’t worry, we’ve got your back. At Melo, we’ve stood exactly where you stand now. We understand your hopes and fears.

So, we’ve put our heads together and come up with three tell-tale signs that it might be time to bid farewell to your business.

1. You can’t stop thinking about your next project

Is your mind constantly wandering to your next business venture? Are you spending hours developing a new project, rather than growing your current business?

This could be a sign that it’s time to move on.

In fact, having a clear vision of how your life might look after you exit your business is an important part of preparing for the transition.

Think about it. Running a business is rarely a 9-to-5 job. So, if you’ve spent years pouring your heart and soul into building an empire, leaving it behind could be a huge wrench.

Having a new challenge lined up and setting personal objectives for the next stage of your journey could help you craft an effective exit strategy that aligns with your goals and ensures a smooth transition.

What’s more, it’s an important step towards feeling ready to exit your business.

2. You’re emotionally prepared to move on

If you’ve never sold a business before, you’ve probably got no idea what to expect.

From a team of people who have “been there, done that”, we’re telling you: it can be tough.

Your business is your baby. You’ve nurtured it, watched it grow, managed its tantrums, and championed its successes.

The process of letting go could be a rollercoaster of emotions. Are you ready for that journey?

Whatever’s triggered your thoughts about exiting, be that an email from a broker or a desire to retire, take a beat.

Give yourself plenty of time to prepare emotionally, so that when the time comes, you have the confidence to take control of the process.

3. Your business is exit ready

At Melo, we’ve helped lots of business owners create an effective and attractive exit plan. Very rarely do we come across a business that’s ready to showcase itself in the best light – until we step in.

Whether you’re planning to sell internally or find an external buyer, you only get one chance to make that first impression. So, it’s crucial to ensure your business is exit ready before putting it on the market.

If you’re beginning to think about exiting your financial planning firm, take a moment to step back and review your options.

What are the current market conditions and industry trends? Is your business performing well and showing consistent growth?

Getting your timing spot on could maximise the value of your business and attract more potential buyers. That’s why building a team around you that knows how the process works and can support you through this journey, is so important.

And that’s where we come in.

Before you enter the market or take any steps towards exiting your business, talk to us. We have first-hand experience of the process and can work with you to help you decide on the best way forward.

We’ll work with you and support you every step of the way towards an awesomely successful exit.

Get in touch

If you’re getting itchy feet and think now might be a good time to exit your financial planning firm, we can help.

Hit us up in our inbox at hello@melo.co.uk or natter with us on 0113 4656 111.


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