Mr. James had been running his business for a decade, expanding quickly into different areas and geographies before the economic crisis hit. Unfortunately, the business revenue declined dramatically, and the company was left with a large debt. To address the debt, James restructured the business, closed a few branches, and focused on one service. He was very stressed at work, with no time for his family and unable to do what he really enjoyed in life.
Background
Issues Identified
James was hesitant to sell, as he was concerned that the timing was not right to exit. RSP made the case that the timing was right: he was in a niche market, his last two years' performance were excellent, and he had recently signed contracts that demonstrated a strong pipeline. RSP recommended that he should test the opportunity (with no commitment to sell) before taking any decision.
James agreed RSP’s recommendation and sold his business within six months. He received a price that was slightly more than his target. He bought his dream yacht, and now can dedicate a lot of time to his family.
Issues Resolved
Conclusion
Even in difficult circumstances, it’s possible to navigate to a successful exit. By identifying the strengths of the business, providing expert advice and guidance, and helping James understand the right timing to sell, RSP was able to help James achieve his goal of his dream yacht and retirement.
From Struggling Business to Dream Retirement