Gradual Business Ownership Transition

Xmas Exit Strategy Rethink

Dec 11, 2024

As the year comes to a close, many business owners are reflecting on what has been a challenging period. Between economic uncertainties and interest rates only recently declining, it’s no surprise that some might consider pausing plans for succession until early next year. However, delaying your exit strategy could mean missing out on a prime opportunity to engage with motivated PEOPLE during this pivotal season.

Been Delaying Your Exit Strategy ?

Oct 30, 2024

With increased business confidence and a lowering of the OCR, Platform 1 is already starting to see an immediate acceleration of business owners looking to revisit the exit strategy that many had "parked up" over the last few years. We expect that to build further over the next 6-12 months.

A Business Partner Can Be Your Exit Partner

Oct 01, 2024

Accelerate your succession by finding a Business Partner who is also your Exit Partner. Most business owners know about the current common ways to exit a business however less know that Exit Partners can be a more compelling way to exit your business and grow your wealth.

Has Business Succession Planning Crossed Your Mind?

Jul 30, 2024

If you are a baby boomer business owner, it’s likely business succession planning has crossed your mind. It’s also possible you have done nothing further about it. You may be tempted to wait because you feel your current trading is behind last year. But you did that during the pandemic that started in 2020, and we are now 4 years on. Waiting further is just speculating and anything is possible.

Salaried GM or Business Partner ?

Jun 25, 2024

You will not get a Superman or Wonder Woman if you hire a salaried GM for your small or medium-sized business. A Business Partner however with skin in the game will accelerate your business and can be a succession option.

What Does A Good Business Partner Look Like ?

May 07, 2024

Could engaging with a talented Business Partner with capital be a business growth or succession option for you ? A Business Partner is not like a GM that you hire on a salary to work in your business. You need someone who thinks like you.

Have A Plan For After You Exit

Apr 03, 2024

Having a plan for after you exit your business is just as important as having a plan for the exit itself. Here's why:

Gradual Business Exit = Greater Choice

Mar 19, 2024

A gradual business exit will give you a greater choice of people. Platform 1 are experiencing unprecedented demand from people looking to acquire skin in the game in an existing successful business. People who have been on our database for some time are now feeling more confident to move and contact us. Our new business owner transition opportunities in January and February have also had 4 or 5 times the enquiry level compared to the same time last year.

When is the Optimum Time to Exit Your Business ?

Mar 05, 2024

Deciding when to exit your business is a critical decision that depends on various factors, including your personal goals, market conditions, and the state of your business. Here are some factors to consider when determining the optimum time to exit your business.

How Do You Overcome Business Exit Procrastination ?

Feb 28, 2024

Overcoming procrastination when considering exiting a business can be challenging, as it involves making significant decisions about the future. Here are some strategies to help a business owner overcome procrastination in this situation.

Why Someone With Skin in the Game Will Perform Better

Jan 26, 2024

The concept of "skin in the game" refers to having a personal stake or investment in the outcome of a situation. When someone has skin in the game, it means they stand to gain or lose something based on the success or failure of a venture or decision. This principle is often associated with improved performance and decision-making. Here are several reasons why individuals with skin in the game may perform better than salaried employees.

The Brilliance of a Gradual Business Exit: A Step-by-Step Guide

Dec 29, 2023

Exiting a business is a monumental decision that requires careful consideration of various factors. While many entrepreneurs might be inclined to opt for a swift and complete sale, a gradual approach can often prove to be a more strategic and beneficial choice. In this blog, we explore the advantages of a gradual business sale and why this method is gaining traction among savvy business owners.

The Christmas Business Exit Rethink !

Dec 19, 2023

It’s been a hectic year for many business owners with the economic climate and the uncertainty that always comes along leading into any election. This one got drawn out and now the coalition government is finalised, we have drifted closer to Christmas. If you have been contemplating succession it may be tempting to pack up and come back in February or March however you will be missing out on the people wanting to get into a business now. Maybe you have been talking to Platform 1 or others for some time and trying to pick when to move forward - however waiting is a guessing game

Want More Than A Job ?

Nov 27, 2023

Many financially successful people build their wealth by being entrepreneurs as opposed to wealth derived from a corporate job. It can be a realistic goal to have skin in the game in a business, especially if this is structured over time.

A Gradual Business Exit Makes Even More Sense Now

Sep 29, 2023

Starting the process of exiting your business now, makes sense for many business owners. We are three and a half years down the track from the pandemic commencing and many business owners are still in a holding pattern. What is holding out until after the election going to achieve, when there are interested people looking now ?

Why You Should Get A GM With Equity

Sep 11, 2023

Listen to Platform 1 Director Mike Warmington give 11 good reasons why introducing a GM with equity works for business owners looking at succession.

What Is The Market Like For Finding a Business Partner (Video)

Sep 03, 2023

This brief video from New Zealand Platform 1 Director Mike Warmington ,explains what the market is like now (September 2023) for finding a Business Partner in New Zealand, as part of a succession plan. This can be part of a gradual business exit to a talented person.

How Does Platform 1 Find People ? (Video)

Jun 13, 2023

Platform 1 take a proactive approach to finding people with both talent and capital. As well as our own extensive database, we use recruitment and executive search techniques to headhunt people who fit the profile to add value to the business. Listen to this short 2 minute video with Platform 1 Director Mike Warmington

Hire Your Business Succession Option

May 15, 2023

Finding a person with capability who can work in your business and buy you out over time can often be your best succession option.You get to hire your successor and better protect your legacy as this talented person buys your shares over time while they are growing the business.

Are You Waiting Too Long To Exit Your Business ? (Video)

May 01, 2023

Watch Platform 1 Director Mike Warmington share a short insight which illustrates the need to exit your business on your terms. This successful business had imported and distributed a range of products for many years however they did have one key very profitable product that delivered a significant part of their profit . They had a longstanding relationship with this supplier and there was no indication this was going to end.

No Skeletons In The Closet

Apr 21, 2023

Are you excited about getting into business ownership but concerned about the security of future business revenue if you buy outright? Are those contracts secure and will the revenue still flow into the business when the owner exits ? Are there any skeletons in the closet you don’t know about and is the owner desperate to get out now ? Do you really want to put all your investment “on the nose” on day one and step into the unknown without the owner having a vested interest too ? The Business Owner Transition model is a way to buy into a business over time in a way that de-risks any transaction .

Is Now A Good Time to Execute Your Exit Strategy ?

Dec 07, 2022

The last 3 years have caused a backlog of business owners to delay exiting their quality established businesses. Some felt in 2020 that they should build back up their businesses or that the time was not right for incoming buyers. Few would have expected that the pandemic would still involve restrictions in place in 2022, and are worn down from it.

Ultimate Guide to Transitioning Into An Existing Business - Video

Nov 11, 2022

Business Owner Transition as a succession strategy - What is it ? If you want to be more educated on your succession options catch a video interview with Ryan Melton and Platform 1 Director, Mike Warmington.

Why Salaried GM's Fail In Medium Sized Businesses

Aug 15, 2022

John has a successful medium sized business that has a turnover of about $6M and a reasonable profit. The problem is he is tied to it and can’t get to the Bach or go fishing as much as he would like. Getting in a GM seems like the answer and his accountant recommends a successful sales manager, Peter, who he believes is ready to step up to a GM role. Peter is 32 and currently works for a much larger business. John likes Peter and offers him the role after the first meeting. Peter is happy because it is a step up for him in both responsibility and salary.

Transition Out Of Your Business - Podcast

Jun 09, 2022

In this Podcast Craig Oliver talks to Rob Young & Mike Warmington of Platform 1 about Business Owner Transition and how Platform 1 is helping not only business owners successfully exit their business in a profitable and structured way, but also how their model allows motivated individuals to gradually buy into a successful business and continue to build on its legacy.

Business Transition or Financial Transaction?

Mar 04, 2022

There are a variety of reasons why you may consider exiting your business. From our experience it is often not all about a business owner just wanting to do a" financial transaction". Leaving a legacy is important to almost all the business owners we see whether they initially realise it or not. When and how to exit your business is an emotional decision with several variables in play:

Your Own Business or Lifelong Employee ?

Jan 11, 2022

If you headed to the beach this summer you would have seen many great baches and beautiful boats. What you may not be aware of is many of the owners of these assets are business owners, not accounting or law partners or CEO's. Much of the wealth evident at the key holiday spots is with ordinary people who had the conviction to get into their own businesses. There are great opportunities for talented entrepreneurial individuals to exit corporate life and take an equity opportunity in a smaller private business.

Scalable Businesses With Growth Opportunities in Short Supply - Press Release

Dec 16, 2021

Scalable Businesses With Growth Opportunities in Short Supply In November 2021 Platform 1 conducted a market survey titled: Attitudes To Entering Business Ownership Following Covid 19. Data from this survey of potential future business acquirers shows that despite the pandemic, there is still not enough scalable businesses available. Over 65% of all respondents mentioned that they were finding it hard to find a scalable business with growth opportunities. This increased to 77% when measured only against those exclusively looking for a business. They also mentioned that many of the businesses available were too small.

Business Succession - Talent Pool Available Now

Oct 22, 2021

The numerous lockdowns have been frustrating many business owners contemplating succession, particularly in Auckland. Some have delayed plans or been in a holding pattern. Others now however are taking the opportunity to start moving. The talent pool of people with capital is here now and they also are ready to move.

Press Release - Business Succession – Is Now the Time to Move?

Sep 12, 2021

Press Release 13 September 2021 Auckland, New Zealand After a turbulent 18 months for business owners, business owner transition company Platform 1 have found owners facing succession are starting now to think about moving forward. We know now that Covid will have some impact on lives and businesses for some time to come, so will there be an acceleration of business owners exiting ?

What is Business Owner Transition?

Jul 13, 2021

Business Owner Transition is a method of exiting your private business, over time, to an external talented person with capital. This person works full-time in your business and buys you out over time to an agreed plan.

The Future Of Engaging Talent For Business Owners

May 02, 2021

You will not get a Superman or Wonder Woman if you hire a GM for your small or medium-sized business. We have met many business owners who have tried unsuccessfully to do this themselves. Whether the person comes from within or externally there are some key reasons for this.

Why Now Is The Perfect Time to Exit Your Business

Mar 17, 2021

Exiting your business now makes sense for many business owners. Why wait? The Platform 1 NZ Business Owner Succession Survey in April 2020 showed that 76% of business owners > 60 years old were looking at succession within the next 3-5 years and the pandemic had changed the succession thinking of 30% of business owners. We are now a year down the track and many business owners are still in a holding pattern and considering options. You are naturally thinking about when is the right time to exit.

Ownership Transition vs Outright Sale ?

Jan 08, 2021

It was a challenging 2020 for many business owners so what are your goals for 2021? Whether your business has been impacted positively or negatively your business succession should be a priority particularly if you are in the baby-boomer demographic and looking for a change of lifestyle.

Video Testimonial - Manufacturing Business

Sep 17, 2020

Business owner Chris wants to retire… but not yet. By exiting his electronics manufacturing company gradually, via Platform 1’s Business Owner Transition model, he gets to enjoy the best of both worlds. Click the READ MORE button to access the video

Don't Sell Your Business - Transition it !

Aug 23, 2020

You have been thinking about business succession for some time and are ready to spend less time on the business and more time doing the things you enjoy. You are concerned that now may not be the best time to sell your business outright due to the economic climate and worried that someone won’t buy it or worse offer you less than you deserve. Also, why sell 100% of your business now when the market may perceive it to now have a lower value ? Why not sell down 25% of your business to a talented person with capital who can share the burden, bring fresh ideas and help you grow it?

Find a Business Partner - DIY or Not ?

Jul 14, 2020

New Zealanders often like to try their hand at projects especially when it comes to DIY jobs around the house. We pride ourselves on having a can-do attitude. This can transcend itself into business when owners are looking at exit planning strategies. It may sound easy to elevate a key staff member or an external person into your business as part of a succession plan – but is it really?

A Business Partner With Capital May Now Be Your Best Succession Option

Apr 18, 2020

If you have a business succession solution in place, is it likely to be impacted adversely by recent events? Is there cause to rethink the option selected or the timeframe? There is a growing pool of available people looking now to work and invest in small/mid-size businesses and Platform 1 has plenty of these people already identified in our database.

A Business Succession Plan In These Challenging Times

Mar 30, 2020

During this pandemic, many business owners are having a challenging time and as business owners ourselves we feel your pain. If you have a business succession plan in place is it likely to be impacted adversely by recent events? Is there cause to rethink the option selected or the timeframe?

How Real Is The Talent Shortage ?

Jan 28, 2020

It’s well documented that finding key staff members is a problem for many business owners in NZ . In some cases, it can only be solved by training or importing staff but what it often requires now is a different approach. The same strategy that got you key staff in the past won’t always work today with the unemployment rate at 4.2%. Simply advertising on a job site as the only strategy is only going to reach a portion of the market. Generally, this will be people actively (or in some cases desperately) looking to move on from their current position, those not currently in paid employment or perhaps “consulting” as an interim step.

The Baby Boomer Business Exit Dilemma

Sep 18, 2019

Baby Boomer business owners have worked hard all their lives and are now at a stage where they have built up a business (which has given them a good income and lifestyle) and are now wondering what their options are for exiting their businesses.

11 Good Reasons Why Introducing a GM with Equity Works For SME Business Owners

Aug 02, 2019

Do you want to grow your SME business but spend less time in it? Securing a talented Business Partner for growth or as part of a gradual exit plan can be an excellent option to consider. By allowing someone to buy into your business rather than appointing a solely salaried GM will get you higher capability and a person who is looking for skin in the game.

A Business Exit Strategy With Smart Money

Jul 22, 2019

You are 65 and looking for an exit strategy however you have a 50-year-old business partner who has quite a few more working years remaining. You are both integral to the business however you have a completely different set of skills. Your business partner cannot buy you out and, in any case, there will be a capability gap as he cannot slot into your role in the business. Rightly your current business partner will have a significant interest in who buys your shares as this person will become their business partner and play a key role in the ongoing success of the business.

Business Succession Lessons From A Crayfish

Jun 18, 2019

A dramatic (if not brutal) example of reaction to sudden change has stayed with me from my childhood. I witnessed how a live crayfish shows a limited reaction when the water it is in is slowly raised in temperature until it is ultimately cooked versus the violent response if one is dropped in boiling water*.

The Do's and Don'ts of Finding a Business Partner

May 13, 2019

Securing a talented Business Partner for growth or as part of a gradual exit plan can be an excellent option to consider. We hear of success stories as well as unsuccessful outcomes and it always comes back to the same actions that lead to success. Here are some tips on what to do and not do to make it a success.

A New Way of Thinking for SME Succession

Nov 27, 2018

For John and Judy Small, their business was their identity. John had started the business 30 years ago in his garage at the back of their suburban home. He had an idea, researched the market and discovered that the automotive industry was lacking in a certain product (product and business fictional). He talked to the car manufacturers and the new and used car dealers and soon had several orders that were going to be difficult to fill.

Finding Senior Level Talent for SME Business Owners

Oct 09, 2018

It is well documented that SME business owners often find it difficult to find quality staff to help grow their business. The degree of difficulty in attracting talent is enhanced when the business owner needs senior level talent. There are however talented senior leaders well suited to working in a small business so how are these people found?

Introduce Capital and Innovation Through A Gradual Ownership Transition

Aug 22, 2018

A recent report from Westpac highlights some very interesting aspects surrounding businesses older business owners facing transition. In short, older business owners are less likely to invest in innovation and capital to expand and grow their business as they are very focused on “how to get out” and “spend more time on lifestyle options”.

Management Buy Out vs Management Buy In ?

Jul 02, 2018

We sometimes come across business owners working in their business who explain they have a staff member or members identified who will buy them out when they are ready to exit the business (MBO). This can be a great option and the person is usually someone who is loyal and trusted and often a gradual process is introduced for this person to transition into the business. It can however also be an easy or comfortable option that may not always be the best solution for the business or the owner.

Are Some Baby Boomer Business Owners Delaying Their Exit?

Apr 11, 2018

The expected bulge of baby boomer business exits has attracted increasing speculation throughout the last decade.

SME Ownership Succession Dilemma

Mar 01, 2018

Leadership is core to New Zealand business, the economy and our future. The leadership talent pool available to New Zealand SME’s is shrinking rapidly. The trends show that attracting and retaining leadership talent will fast become an even greater challenge for New Zealand business

SME Ownership Transition – Governance is Key

Feb 05, 2018

So you have decided on your exit strategy and gradually transitioning to a new owner is the plan. How do you ensure that your SME business prospers and remains focused when transitioning during this period? Strong governance of course.

Rewarding Challenges in an SME Business

Jan 12, 2018

January is the time of year when many corporate executives reassess goals and contemplate the challenges ahead. It is also a time where job satisfaction and longevity are often front of mind. Many just look for another corporate role but there are other options for those brave enough to take them.

Management Buy-In For SME Business Owners

Dec 12, 2017

Most business owners understand the general concept of a Management Buy Out (MBO) where existing staff agree to buy out the owner. What is less understood is a Management Buy-In (MBI) from an outside leader.

A Business Partner Can Help Drive Your SME Business to the Next Level

Sep 24, 2017

Additional complementary skills and capability are often needed to turn great business ideas into commercial success stories. While advisors and consultants can add value, what is sometimes required is the business owner partnering with a talented person who can work in the business in a full-time capacity to help drive it forward.

Look a Little Further Down the Road and Around the Corner

Sep 08, 2017

So often in established businesses and with experienced long term owners the struggle is getting out of the looking ‘at the road directly in front of your wheel’ and look ahead. Does that investment make good sense next year? Does that new person have the capability to add more value than just gap filling today? Do my systems keep me on the road, so I can look further down and around the corner.

Stepping back from your business – Graeme’s dilemma.

Aug 14, 2017

Graeme's business continues to demand his full-time involvement and not always in areas where he believes his time is best spent. He’d like to focus more on a good opportunity he has identified to grow sales.

An Alternative Business Sale Option

Jun 27, 2017

What many business owners don’t realise however is that not all businesses that are marketed for outright sale actually sell!

Sell Your Business Gradually and Reap the Rewards

Jun 27, 2017

For many business owners, succession planning is a subject that can easily be put off when juggling the demands of running a busy business

Blogs

Xmas Exit Strategy Rethink

Been Delaying Your Exit Strategy ?

A Business Partner Can Be Your Exit Partner

Has Business Succession Planning Crossed Your Mind?

Salaried GM or Business Partner ?

What Does A Good Business Partner Look Like ?

Have A Plan For After You Exit

Gradual Business Exit = Greater Choice

When is the Optimum Time to Exit Your Business ?

How Do You Overcome Business Exit Procrastination ?

Why Someone With Skin in the Game Will Perform Better

The Brilliance of a Gradual Business Exit: A Step-by-Step Guide

The Christmas Business Exit Rethink !

Want More Than A Job ?

A Gradual Business Exit Makes Even More Sense Now

Why You Should Get A GM With Equity

What Is The Market Like For Finding a Business Partner (Video)

How Does Platform 1 Find People ? (Video)

Hire Your Business Succession Option

Are You Waiting Too Long To Exit Your Business ? (Video)

No Skeletons In The Closet

Is Now A Good Time to Execute Your Exit Strategy ?

Ultimate Guide to Transitioning Into An Existing Business - Video

Why Salaried GM's Fail In Medium Sized Businesses

Transition Out Of Your Business - Podcast

Business Transition or Financial Transaction?

Your Own Business or Lifelong Employee ?

Scalable Businesses With Growth Opportunities in Short Supply - Press Release

Business Succession - Talent Pool Available Now

Press Release - Business Succession – Is Now the Time to Move?

What is Business Owner Transition?

The Future Of Engaging Talent For Business Owners

Why Now Is The Perfect Time to Exit Your Business

Ownership Transition vs Outright Sale ?

Video Testimonial - Manufacturing Business

Don't Sell Your Business - Transition it !

Find a Business Partner - DIY or Not ?

A Business Partner With Capital May Now Be Your Best Succession Option

A Business Succession Plan In These Challenging Times

How Real Is The Talent Shortage ?

The Baby Boomer Business Exit Dilemma

11 Good Reasons Why Introducing a GM with Equity Works For SME Business Owners

A Business Exit Strategy With Smart Money

Business Succession Lessons From A Crayfish

The Do's and Don'ts of Finding a Business Partner

A New Way of Thinking for SME Succession

Finding Senior Level Talent for SME Business Owners

Introduce Capital and Innovation Through A Gradual Ownership Transition

Management Buy Out vs Management Buy In ?

Are Some Baby Boomer Business Owners Delaying Their Exit?

SME Ownership Succession Dilemma

SME Ownership Transition – Governance is Key

Rewarding Challenges in an SME Business

Management Buy-In For SME Business Owners

A Business Partner Can Help Drive Your SME Business to the Next Level

Look a Little Further Down the Road and Around the Corner

Stepping back from your business – Graeme’s dilemma.

An Alternative Business Sale Option

Sell Your Business Gradually and Reap the Rewards