Jeannette discusses the important topic of exiting a business, whether as a CEO of a large corporate organisation or as a business owner.
Drawing from her 30 years of experience in both roles, she shares valuable insights and tips on how to effectively plan and execute an exit strategy, covering five key areas: learning the exit process, starting early, scoping out options, establishing operational foundations, and considering the impact on people
KEY TAKEAWAYS
It is recommended to start planning for an exit or transition early on. By having a clear vision of what the next phase looks like and working backwards from there, individuals can take the necessary actions and avoid feeling rushed or unprepared.
Depending on whether one is a corporate CEO or a business owner, there are different exit options to consider. For corporate CEOs, it may involve engaging with headhunters or networking for the next CEO role. For business owners, options may include selling to a competitor, private equity investor, or considering a management buyout.
Before exiting a role or selling a business, it is crucial to ensure that all systems, processes, and documentation are in place. This includes having the necessary information for due diligence and ensuring that the business can run smoothly without the individual's direct involvement.
Managing the impact on people is critical during an exit or transition. This includes considering the anxiety and uncertainty it may cause for the team and stakeholders. For business owners, it may involve maintaining confidentiality among a close-knit team during the selling process
BEST MOMENTS
"I think it's amazing to ask as many people as possible what their opinions are, what their experience has been, because that is going to give you a great suite of information that you can digest “
"The exit and having the people front and foremost in your mind is critical."
"Once you have exited and sold your business, what's the message externally? What's the message to your suppliers, to your customers, making sure the handover of whoever you have sold the business to, you know, is done smoothly, it's done respectfully?"
"So let's do it in an elegant way. Let's do it in a respectful way. Let's make sure that when you move on, the business will continue to thrive."
This is the perfect time to get focused on what YOU want to really achieve in your business, career, and life. It’s never too late to be BRAVE and BOLD and unlock your inner BRILLIANCE. If you’d like to jump on a free mentoring session just DM Jeannette at info@jeannettelinfootassociates.com or sign up via Jeannette’s linktree https://linktr.ee/JLinfoot
VALUABLE RESOURCES
Brave, Bold, Brilliant podcast series - https://podcasts.apple.com/gb/podcast/brave-bold-brilliant-podcast/id1524278970
ABOUT THE HOST
Jeannette Linfoot is a highly regarded senior executive, property investor, board advisor, and business mentor with over 25 years of global professional business experience across the travel, leisure, hospitality, and property sectors. Having bought, ran, and sold businesses all over the world, Jeannette now has a portfolio of her own businesses and also advises and mentors other business leaders to drive forward their strategies as well as their own personal development.
Jeannette is a down-to-earth leader, a passionate champion for diversity & inclusion, and a huge advocate of nurturing talent so every person can unleash their full potential and live their dreams.
CONTACT THE HOST
Jeannette’s linktree - https://linktr.ee/JLinfoot
https://www.jeannettelinfootassociates.com/
YOUTUBE - https://www.youtube.com/channel/UCtsU57ZGoPhm55_X0qF16_Q
LinkedIn - https://uk.linkedin.com/in/jeannettelinfoot
Facebook - https://uk.linkedin.com/in/jeannettelinfoot
Instagram - https://www.instagram.com/jeannette.linfoot/
Email - info@jeannettelinfootassociates.com
Podcast Description
Jeannette Linfoot talks to incredible people about their experiences of being Brave, Bold & Brilliant, which have allowed them to unleash their full potential in business, their careers, and life in general. From the boardroom tables of ‘big’ international businesses to the dining room tables of entrepreneurial start-ups, how to overcome challenges, embrace opportunities and take risks, whilst staying ‘true’ to yourself is the order of the day.
Travel, Bold, Brilliant, business, growth, scale, marketing, investment, investing, entrepreneurship, coach, consultant, mindset, six figures, seven figures, travel, industry, ROI, B2B, inspirational: https://linktr.ee/JLinfoot
