It’ll Never Happen to Me – Business Succession Planning
The Hit by a Bus Scenario Anyone that owns a business has heard about the hit by a bus scenario at some point in time. The problem is we all deny it will ever happen [...]
How to Get Life Independence and Financial Freedom Using Your Business
Why did you start your business in the first place? If you're like most owners you thought it was your way to get independence and financial and freedom. So, why haven't you gotten there? Because [...]
Want an Absentee Owner Business? 3 Skill You Must Master
Do you hope to take a vacation some day and not worry if your business will still be there when you return? Then you need to set up for what I call business self-sustainability or [...]
Financial Freedom: How Big Do You Need to Grow Your Business?
In the past few weeks I have had several small business owners who I’ve met with that were interested in creating self-sustainability in their business. They loved the idea that the financial freedom and independence [...]
8 Critical Factors for Any Succession Plan
As I presented in my previous post Succession Planning vs. Exit Planning Which Do You Use?, the primary goal of any succession plan is leadership transfer. So, you can imagine that things can get a [...]
Succession Planning vs. Exit Planning Which Do You Use?
Often the terms succession planning and exit planning get used interchangeably. However, there is a definitive difference between the two. It’s important as a business owner that you understand the difference. Succession planning focuses on [...]
Successful Transition Planning – 9 Things to Consider!
Business owners think about transition planning too late! Many don’t think about transition planning because they believe that they will just sell their business and that’s the end of it. However, even with the sale [...]
What’s Your Greatest Challenge in Exiting Your Business?
Is Your Business Ready for You to Leave? Last week I post a question, “What's Your Greatest Challenge in Exiting Your Business?”, on LinkedIn. My intent was to get some feedback before writing the next [...]
Building Systems – 5 Steps to Establish a Repeatable & Scalable Business
In a previous post titled Getting Beyond the “Survival Stage” of Growth in Your Business, I touched on the process by which you begin building systems. Doing this allows your business to operate on its [...]
Exit Your Business by Answering 3 Important Questions
I attend a lot of meetings and seminars focused on exit planning. But, most fall short because they only focus on the transactional portion of the process instead of showing you what to do in [...]
How to Become a Successful Business Owner
The statistics are shocking as to how few small business owners really think about transition planning, or more traditionally referred to as exit planning. To become a successful business owner you need to become an [...]
#1 Reason Exit Planning Is So Critical When Starting Your Business
One of the first questions I ask clients when I start working with them is “what is your strategy to exit your business?” Most of them say “I don’t know” or more frequently “I am [...]