The Purpose and Balance

Understanding Your Personal Purpose
Before goals comes purpose (per Chris Snider in his book Walking To Destiny). By understanding your personal purpose, you set yourself down a path toward a more fulfilling life after you exit your business in the future, while also creating a more meaningful life in the present. Before you exit your business, think about the things in your life outside of your business that give your life meaning and purpose. Whatever it is that gives your life purpose should have a prominent place in your post-business life.

Balancing the Business and Personal
One of the easiest ways to build business value is to decentralize yourself from the business. By limiting your time working outside of traditional work hours, your business and your key employees learn to operate successfully without you. If you don’t feel you can trust your key people while you’re away, it is time to reevaluate your people and processes. Invest time and resources in training leaders in your business so they can run things well after you exit. Even if you exit your business at age 70, it is likely that you will live another 15-20 years or longer. What’s important is having a vision for what you are going to do with all that time. Having a complete exit plan that considers your business, financial and personal needs together is crucial for a successful and profitable business exit.

Disclosure: The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.