When Adam Pigott was 24, he made the bold move of launching his own property letting business. 24 years, 11 months and 2 days later, he successfully sold his business. Now, he is utilising his 34 years of experience in the property industry as CEO of OpenBrix, a property management platform that uses Blockchain technology.
Having established his business in 1985, Adam started thinking about selling his business after just five years, but he knew he wasn’t ready. When he eventually made his successful exit in 2014, he had an extensive thought process and strategy to ensure his transition was seamless.
Adam said, “I didn’t want to sell my business and have to be handcuffed to the business. I wanted to cut and run.”
To do that, you have to, “Think who your buyer might be and put yourself in their shoes. Try and look through their eyes, why would they want to buy your business? What’s it going to mean to them? And consider, whether or not you’re needed?”
Adam shares his story, insights and tips for making a successful exit from a business.
