Australia has a wonderful enthusiasm for business ownership. Many of us want the thrill of controlling our own business, watching it grow and reaping the rewards just before retirement (the exit).
The reality could not be further from the truth.
Owning and operating a business is bloody hard work. You have to deal with demanding staff, pesky clients and a minefield of business rules.
What about the exit?
At last count there were more than 3,000 small businesses listed for sale on various business sale websites. There are lots of “exits” according to the Australian Bureau of Statistics in a year, albeit we estimate only a handful of those relate to the sale of a business.
For the majority, when it comes to reaping the rewards from business ownership, there is no magic elf that sprinkles gold-dust and makes a business purchaser appear from the trees.
The elf suddenly turns into an overweight ogre and punches you in the guts with the realisation that achieving a business exit (a sale) is also bloody hard work.
On the flipside, there are plenty of fantastic privately owned businesses in Australia. These can be hidden gems that are occasionally dug up by cunning prospectors and sold for a decent fortune.
The point is, a business exit is ideally planned and voluntary.
Alternatively, you can wait for one of the D’s to happen:
Most business owners only go through an exit once in their lifetime.