{"id":2116876,"date":"2026-11-03T10:41:53","date_gmt":"2026-11-03T10:41:53","guid":{"rendered":"https:\/\/www.thebusinessdesk.com\/eastmidlands\/?p=2116876"},"modified":"2026-11-04T07:28:06","modified_gmt":"2026-11-04T07:28:06","slug":"the-difference-between-a-good-exit-and-a-great-one","status":"publish","type":"post","link":"https:\/\/www.thebusinessdesk.com\/eastmidlands\/news\/2116876-the-difference-between-a-good-exit-and-a-great-one","title":{"rendered":"The difference between a good exit and a great one"},"content":{"rendered":"

\"\"By Harry Walker, Partner at DSW Corporate Finance<\/strong><\/em><\/p>\n

Building a successful business takes years of hard work, commitment and personal sacrifice. For many founders, the business becomes closely tied to their identity, with key relationships and important decisions often remaining with them. However, when it comes to achieving a strong exit, one of the most important things an owner can do is build a business that no longer depends on them.<\/p>\n

We meet plenty of business owners looking to understand their strategic options, whether that means growth through acquisition, taking on investment, a partial exit or a full sale. Invariably, those who achieve the best results are prepared to invest the time upfront before making any move, while having a strong management team and commercial information to best inform decisions.<\/p>\n

The importance of succession<\/h3>\n

It may feel counter-intuitive for founders who have dedicated their lives to building a business, but good succession planning means creating a business that doesn\u2019t rely on you for day-to-day decisions.<\/p>\n

This will often be one of the first things buyers and investors will want to understand. If key customer relationships, commercial decisions and operational knowledge all sit with one individual, there is a risk that much of the business’s value could walk out of the door with the founder on exit.<\/p>\n

A capable management team provides confidence that the business can continue to perform after a transaction. This requires clear responsibilities and genuine decision-making authority. It also means ensuring that management is properly incentivised to deliver the company’s longer-term objectives.<\/p>\n

Readiness matters more than timing<\/h3>\n

External events can create pressure for business owners to make decisions about their future. Potential tax changes, shifts in financing conditions or an unexpected approach from a buyer can all bring exit plans forward. However, reacting without having fully prepared the business can leave owners exposed.<\/p>\n

Planning ahead gives owners time to address weaknesses before going to market. This can involve improving management accounts, strengthening financial forecasts or introducing meaningful key performance indicators (KPIs). Understanding where customer concentration exists is also important, as this can be a particular concern during due diligence.<\/p>\n

Buyers want to understand how a business has performed historically, but they are equally interested in its future prospects. Reliable management information and credible forecasts help demonstrate that the company is well managed and that its growth plans are achievable.<\/p>\n

Working with an experienced adviser can help owners understand how a buyer or investor is likely to view the business. Identifying weaknesses early allows time to address them, rather than having to respond under the pressure of due diligence.<\/p>\n

When issues emerge late in a transaction, buyers may seek to reduce the price or demand additional protections which can be difficult to challenge when the seller has already committed to a deal.<\/p>\n

A partial exit can provide another route<\/h3>\n

The choice for a business owner is not always between selling everything today and continuing to run the business indefinitely. Where a capable management team is already in place, a partial exit can provide an alternative.<\/p>\n

A two-stage management buyout, for example, can allow an owner to realise some value initially while retaining a stake in the company’s future growth. It also gives management the opportunity to take greater ownership of the business and develop their role.<\/p>\n

Introducing external capital at this stage can help fund growth, while experienced investors or non-executive directors can bring additional commercial expertise. However, the structure needs careful consideration. Management incentives, governance rights and the founder’s continuing involvement must all be clearly defined from the outset.<\/p>\n

The objective should be to create greater freedom for the owner and a stronger opportunity for a subsequent exit. Without the right planning, a partial sale can simply leave the founder tied to a business they no longer fully control.<\/p>\n

Readiness creates choice<\/h3>\n

When we work with a business owner, we start by understanding their personal and commercial objectives. We then assess the business through the eyes of a potential buyer or investor, identifying where improvements may be needed.<\/p>\n

Where appropriate, we work alongside other expert advisers to help implement changes and structure a partial or full exit around the owner’s requirements.<\/p>\n

Ultimately, the sale of a business is a big moment for any founder and goes far beyond just improving its prospects to future buyers. Readiness gives owners greater control over when and how they realise the value they have spent years creating, allowing them to achieve their goals without being rushed into difficult decisions.<\/p>\n","protected":false},"excerpt":{"rendered":"

When it comes to achieving a strong exit, one of the most important things an owner can do is build a business that no longer depends on them<\/p>\n","protected":false},"author":25,"featured_media":2100026,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[78],"coauthors":[95],"class_list":["post-2116876","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sponsored","tag-east-midlands","tag-featured-story"],"yoast_head":"\nThe difference between a good exit and a great one | TheBusinessDesk.com<\/title>\n<meta name=\"description\" content=\"When it comes to achieving a strong exit, one of the most important things an owner can do is build a business that no longer depends on them\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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