In part 10 of ‘Garage to global’, The end game: Listing or trade sale, published online and in the November 2018 issue of NZBusiness Magazine, Datagate CEO Mark Loveys wraps up his guide on taking your business from ‘Garage to Global’ by explaining how to plan and prepare your exit strategy.
The series, exclusive to NZBusiness Magazine, provides a succinct ‘how to’ guide for would-be entrepreneurs wanting to launch their business to the world, from a successful serial entrepreneur.
“Unless you plan to hold on to your business for the rest of your life, you will need to plan your exit strategy. The earlier you start planning and preparing for your exit, the better off you will be when the time comes.
Preparation for an exit
This may seem like an obvious statement, but it’s amazing how often this gets overlooked:
You need to ensure that your business gets to a state where someone else would want to own it and, ideally, the business should not in any way be reliant on you personally for its continued operation and success.”
Related content | Part 1. Garage to global: ‘The Big Idea’
Related content | Part 2. Garage to global: Taking those first critical steps
Related content | Part 3. Garage to global: Nail it before you scale it
Related content | Part 4. Garage to global: Raising capital – Who, when, where & how
Related content | Part 5. Garage to global: Taking investors along on the journey
Related content | Part 6. Garage to global: Product launch
Related content | Part 7. Garage to global: Why happy customers are your biggest marketing asset
Related content | Part 8. Garage to global: Using New Zealand as a proving ground
Related content | Part 9. Garage to global: Going global