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The Business BlogSearchPrimary MenuSkip to contentAboutSearch for:Choosing a mentorSeptember 21, 2014 adminMentors are important in business, but they’re difficult to find. This guide will help point you in the direction of some helpful resources.Your existing networkFriends and Family are one possible resource, but if there is anyone in your social circle that can help be aware that there are potential personal hazards; most people are different when your in ‘work mode’, and that difference can be quite jarring.Former colleagues, particularity former employers, are a more likely resource for finding mentors within your own network. Finally, networking events on sites like Meetup can be great ways to conect and form relationships with other business owners.Matching AgenciesMentor matching agencies are like dating agencies for Entrepreneurs. They generally charge a flat fee to find you a mentor and then act to support that relationship. One plus to this is that they can find new mentors as you grow – you’ll need different advice when you’re a 50 person company than you will when it’s just you and the dog.Local councils and development agenciesMany regions have a specific local business development fund set up, and part of the use of this fund is to provide advice and mentorship to new businesses in the region. Contact your local council office and see what programmes they have available to support new local businesses.Your business exit optionsSeptember 21, 2014 adminThere are a a verity of options for the business owner looking for an exit – From simply closing the firm to floating the business to a trade sale to simply giving the keys to someone else. There are different tax considerations, as well as time constrictions, and some options require specific skills to complete. This guide is focused on;Trade saleSuccessionMarket FloatationClosing the businessTrade SaleThis can involve selling to a third party, or to the current employees and/or management.Any good buyer will want to see the growth potential of the business, through cashflow, sales figures and a solid customer base. Intellection property is another attractive asset for buyers, and many business purchases particularity in the tech sector have been made to aquire a new IP. There are websites, marketplaces and publications that specialize in trading businesses.Prepare documents that prove the strength of a companyContact AdvisorsDo your full due diligence into potential buyers!SuccessionSuccession often means a family member, such as a son or daughter, taking over the ‘family business’, but it can often also mean a senior manager or board member stepping into your shoes. Succession means lots of preplanning – your successor needs to be ready to take on the role obviously, but clients also need to be prepared to deal with a new company head. There may also be tax considerations to discuss with your accountants.Float on th
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