Despite the curveball that was 2020, we have seen a real appetite from buyers looking to acquire rent rolls and grow their business. These buyers have businesses that have really thrived in the past twelve months and in the below video I discuss with John Knight, Managing Director of businessDEPOT, what contributed to their success.

1. leadership

Businesses with a great leadership team have been able to provide excellent direction and support through lockdowns and the uncertainty of Covid. Communicating regularly and with clarity helped set the theme of where the business was going and ensured their teams were on the same page.

2. businesses that knew their business

We have seen great success from the businesses that already knew their business intimately prior to Covid. They knew their numbers, they knew their strengths and weaknesses, so when lockdown hit they didn’t have to spend days or weeks analysing data or working with their accountants to gather information. They were able to make effective decisions immediately.

3.  businesses that knew their balance sheet

Businesses who had equity put away for a ‘rainy day’ had a significant advantage because they were ready to ‘survive’, able to pay for extra infrastructure so people could work from home, get additional help once the lockdown was completed and still acquire rent rolls.

Watch our short video below to discover more about businesses that thrived.

If you have some new goals for your business, want to thrive in 2021 or just do more of something… the businessDEPOT team is here to help you make it happen.

For a list of all our business advisory services please click here.

 

Originally authored, and video hosted by Alan Dawson.