Most owners don’t like the word “exit”. Talking about it makes them feel uncomfortable. It’s the elephant in the room. I can somewhat understand. A life insurance salesperson doesn’t start with “so let’s discuss what happens when you die”. For owners, leaving the business is a little bit like death. Your company has been the… Continue reading Avoiding the Word “Exit”
Prepare for 2023 – Is This the Year to Exit?
What does being prepared mean for 2023 for a business owner who is approaching, at, or already beyond normal retirement age? It has become fashionable to talk about the inevitable recession this year. Inflationary stimulus and loose money supply throughout 2020 and 2021 combined with ill-advised lockdowns and geopolitical disruption, have created a slow motion… Continue reading Prepare for 2023 – Is This the Year to Exit?
Owner Obstacles to an Exit Plan
Owner obstacles to the implementation of an exit plan are often unconscious, but they can be dramatic. Their attachment to the business can be difficult to break. An advisor spends a lot of time and energy developing the vision for life after ownership in the hopes that it is far more attractive than their current… Continue reading Owner Obstacles to an Exit Plan
How to Separate Yourself From Your Business – Why It’s So Important
When you run your own business, oftentimes one of the most confusing aspects of the job, especially if you are new to the experience, is understanding how to separate yourself from your business. And this issue can show up in so many ways, from achieving a work/life balance and managing your time to how you… Continue reading How to Separate Yourself From Your Business – Why It’s So Important
Entrepreneurs Don’t Use Rearview Mirrors
All business owners are goal oriented. From the day you founded or assumed control of your company, you set targets and achieved them. That is why you are successful. You know how to define a goal and make it happen. If I asked you to tell me the best thing that you did in the… Continue reading Entrepreneurs Don’t Use Rearview Mirrors