Planning a small business exit strategy

What were their challenges?

Olivia is a good saver, she has built up equity in home but is just too busy running a small marketing business to focus on her personal health, wealth and happiness.

What did they overcome?

Initially, we put in place a strong financial plan, capitalising on equity, savings and ongoing savings capacity. The plan was established so that Olivia was in a position to be out of the business in 10 years, if desired.

Overtime, Olivia worked more on her health and happiness and made the decision to stop growing the business and eventually to scale it back while still remaining financially secure. Now she’s in a position to consider a career change without worrying about where the money is going to come from.

How did I help?

I gave some initial financial advice, helped implement the strategy that suited Olivia’s needs. Helped her to stay on track, and was on hand to tweak the plan as required.

We had regular meetings to adjust how things were running and to re-evaluate what was important at the time and to build confidence that she could do what she wanted.

What did they learn that I can share?

Doing the simple things consistently well can make a big difference in the long run. Olivia took my advice, implemented it effectively and was committed to her goals all the way along and is now reaping the benefits.