A business’s valuation plays a significant role when it comes to an exit or sale. If your business valuation is lower than expected, don’t be discouraged. There are proactive steps you can take to improve your business's financial health, market position, and...
Planning a successful business exit doesn’t happen overnight. It’s a process that requires thoughtful strategy and time. Here are the five key components that will ensure your business is ready for a smooth and profitable exit:1. Set Clear Financial Goals Knowing how...
When buyers evaluate a business, they’re looking for specific factors that indicate long-term profitability and stability. Understanding these key drivers will help you align your business with buyer expectations and increase its value.1. Profitability At the core of...
Why Plan for an Exit? For many business owners, the focus is often on growth, day-to-day operations, and immediate challenges. However, failing to plan for your eventual exit could leave your hard work vulnerable to forces beyond your control. A sobering reality...
Most business owners associate exit planning with selling their company. That’s understandable. The word “exit” suggests a transaction. But in reality, exit planning is simply disciplined business planning done with the end in mind. It is about control. Control over...
Most owners don’t think their business is failing. Revenue is up. The company is larger than it was a few years ago. From the outside, things look successful. Inside, it feels different. Decisions take longer. Issues surface more often. The owner is still pulled...
When it comes to exiting a business, most people assume there is only one way out: sale. But actually, there are 8 distinct ways to exit a business. Before considering your next move, it’s crucial that you understand each of these options to determine which is best...
Ask a business owner over the age of 50 when they plan to transition or exit their business, and you’ll get one of two answers:
– a blank stare, or
– “I’ll work another 5-10 years and call it quits.”(And if you ask this person again in another 5-10 years, you’ll likely get the same answer!)
The bottom line is the same – most business owners lack a plan for leaving their business. Read the article to learn what goes into an exit plan.
How long has it been since you did something just for the fun of it? What is on your list of “Things I’ll Do Someday When I Have Time”? You may think that you need to wait to start checking things off that list, but that’s a mistake.
There’s more to life than work, and it’s the things you enjoy in your leisure time that make you a well-rounded and happy human being. In this article, we invite you to start exploring and experimenting to find enjoyable and fulfilling activities outside of work and give some practical suggestions for how to do it.
It can be a self-perpetuating cycle: a business owner tells me she knows she needs to delegate so she can create bandwidth to plan ahead. But she can’t hand anything off because she hasn’t documented her processes which would allow someone else to follow the same steps and get similar results. Why hasn’t this happened? Because she doesn’t have time because she has so much on her plate.
Read the article to learn how to break this cycle and get out of your own way.