Exit/Succession Planning
Business owners often leave the question 'what next?’ until it’s too late to consider all the potential options. It may be planning for retirement or a desire to do something new. But whatever the reason, succession planning or developing an exit strategy requires careful thought and advance planning.
There are always a variety of options open to business owners and understanding these and your priorities are key. Whereas one entrepreneur may want to plan for maximum financial gain, a family owned business may consider succession and healthy family dynamics a priority. Then there is sale to employees, liquidation, selling to co-owners, private equity and more.
A mentor with experience can provide guidance to work through this process and signpost to finding buyers, tax planning, due diligence and more, as required.
Where a business is handed to less experienced management, a mentor offers peace of mind by supporting the transition, providing insight and challenges before, during and after, while the new owner or team develop the necessary skills.
Charity/Social Enterprise
We are keen to support Charities and Social Enterprises in Dorset, building on our successful track record.
Dorset Business Mentors is itself a not-for-profit organisation and operates a hybrid income model to deliver an accessible service. We are familiar with the world of writing grant applications and making sense of funding opportunities, dealing with the interest of stakeholders and attracting and managing volunteers to deliver a service worthy of public accreditation.
This is an enormously rewarding area, with lots of the same challenges and pressure as running a commercial business. You may be wondering how to get the best out of a volunteer workforce, or be concerned about your cash flow. You may be writing a funding bid and need a fresh pair of eyes. As you seek to develop your Charity or Enterprise, look to us for support. We can match you with a mentor who has relevant experience and can help you get the best for your enterprise and your community.