![]() Assess the situation, make a plan and reimagine the part you play within the modern world. Shrinking businesses aren’t attractive to buyers so turning it around should be addressed first. Analyse everything you’re doing to discern what is futureproof and what will soon be irrelevant. If your staple product is going out of fashion, if you’re analogue in a digital world, if your service is only used ironically, the writing is on the wall and the prognosis isn’t good. If the future doesn’t involve your type of business, do something now. But how do you know? Trends in human behaviour and technology can predict the future. If you’re sailing a sinking ship, it might be time to disembark. If that still doesn’t do the trick, it might be time to move on. Take the unrivalled knowledge you hold and get to the next level. Give your team more responsibility and throw your hat into bigger rings, consider making an acquisition yourself. Push its boundaries, get it to punch above its weight. ![]() ![]() See if you can take your existing company to new heights. The business could start to go backwards, and you lose the cash cow you should have sold.īefore starting to court buyers, try an experiment. Kicking back and taking your eye off the ball whilst you explore other options is tempting, but it might not work out. You secretly enjoy a bit of turmoil because it makes things interesting, but it’s not sustainable in the long term. You want to solve bigger problems and let go of ones you have seen before. Perhaps you’re bored and ready for a new challenge. While this level of mastery is impressive, it might not feel like it to you.
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